NASDAQ$BLFY
Blue Foundry Bancorp · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Blue Foundry Bancorp reported a net loss for Q1 2024, driven by increased rates paid on interest-bearing liabilities, despite deposit growth and margin expansion.
Blue Foundry Bancorp reported a net loss of $2.8 million for Q1 2024. The quarter was marked by significant deposit growth and margin expansion, but also by increased interest expenses. The company repurchased over 532 thousand shares and increased its tangible book value per share.
- Deposits increased by $46.3 million, or 3.7% compared to the prior quarter.
- Net interest margin increased by eight basis points from the prior quarter to 1.92%.
- Release of provision for credit losses of $535 thousand due to the impact of the change in forecast on the loan portfolio.
- Over 532 thousand shares were repurchased under share repurchase plans at a weighted average share price of $9.49 per share, increasing tangible book value per share to $14.60.
Headline financials
Revenue & EPS history
Blue Foundry · Revenue · Quarterly
$9.87M
Revenue by segment
Blue Foundry · $1.58B total across 7 segments · Q2 2023
- Multifamily$697M+20.3%44.1%
- Residential$580M-1.7%36.7%
- Commercial real estate$237M+12.1%15.0%
- Construction$36M+71.5%2.3%
- Junior liens$21.3M+29.9%1.3%
- Commercial and industrial$9.74M+63.6%0.6%
- Consumer and other$33K-29.8%0.0%
Forward guidance
The company did not provide specific forward guidance in the provided document.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 16 quarterly earnings reports · overlaid with Q1 2024
+0.1%
Avg return
Earnings day
+0.0%
Avg return
5 days after
+3.5%
Avg return
30 days after
39%
7 / 18 earnings
Positive
+3.9%
Q4 2023
Best reaction
-6.1%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +0.6% | +3.4% | — | |
| Q3 2025 | -1.6% | -4.4% | +27.6% | |
| Q2 2025 | -1.6% | -3.6% | +5.3% | |
| Q1 2025 | -1.6% | +5.2% | -4.5% | |
| Q3 2024 | -1.8% | -0.4% | +12.5% | |
| Q2 2024 | +1.7% | +0.9% | -2.5% | |
| Q1 2024 | -0.7% | +0.7% | +8.5% | |
| Q4 2023 | +3.9% | +5.5% | -5.1% | |
| Q3 2023 | +2.0% | -1.6% | +15.2% | |
| Q2 2023 | +2.5% | +1.8% | -5.5% | |
| Q1 2023 | -0.2% | -5.7% | -3.9% | |
| Q4 2022 | -6.1% | -6.1% | -2.7% | |
| Q3 2022 | +2.8% | +4.5% | +10.6% | |
| Q2 2022 | -0.6% | -1.1% | -3.2% | |
| Q1 2022 | +3.4% | +1.4% | -3.9% | |
| Q4 2021 | -0.1% | +1.0% | -4.1% | |
| Q3 2021 | -0.4% | -0.6% | +7.9% | |
| Q2 2021 | -0.6% | -0.6% | +7.1% | |
| Q1 2021 | — | — | — | |
| Q4 2020 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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