NASDAQ$BLFY
Blue Foundry Bancorp · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Reported a net loss due to strategic investments in infrastructure.
Blue Foundry Bancorp reported a net loss of $1.0 million for the second quarter of 2021, an improvement compared to a net loss of $16.7 million for the same period in 2020. The improvement was driven by a decrease in non-interest expenses. Total assets increased by $634.3 million to $2.58 billion, primarily due to cash received from the conversion to a stock holding company.
- Net loss of $1.0 million for the three months ended June 30, 2021, compared to a net loss of $16.7 million for the three months ended June 30, 2020.
- Total assets increased $634.3 million, or 32.65%, to $2.58 billion at June 30, 2021, from $1.94 billion at December 31, 2020.
- Cash and cash equivalents increased $608.7 million to $925.1 million at June 30, 2021, from $316.4 million at December 31, 2020.
- Gross loans held for investment decreased $25.3 million, or 1.98%, to $1.25 billion at June 30, 2021, from $1.28 billion at December 31, 2020.
Headline financials
Revenue & EPS history
Blue Foundry · Revenue · Quarterly
$10.5M
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 intends to leverage investments and grow the bank as a public company, using new capital to fund loans, refine products, expand retail banking, and invest in its people.
Tailwinds
- Fund new loans
- Refine existing products and services
- Expand our retail banking franchise
- Continue to invest in the backbone of this organization, our people
- Eager for our future as a public institution
Headwinds
- Conditions related to the recent global coronavirus outbreak that has and will continue to pose risks and could harm our business and results of operations
- General economic conditions, either nationally or in our market areas, that are worse than expected
- Changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for loan losses
- Our ability to access cost-effective funding
- Fluctuations in real estate values and both residential and commercial real estate market conditions
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 16 quarterly earnings reports
+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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