NASDAQ$BLFY
Blue Foundry Bancorp · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Blue Foundry Bancorp reported a net loss for Q3 2023, driven by pressure on net interest income due to the current rate environment, while managing expenses and maintaining stable credit quality.
Blue Foundry Bancorp reported a net loss of $1.4 million for the third quarter of 2023, compared to a net loss of $1.8 million in the previous quarter and net income of $1.2 million in the same quarter of the previous year. The company focused on managing expenses and diversifying its lending franchise, with a decrease in non-interest expenses and growth in the commercial portfolio. The net interest margin decreased to 1.94%, and the company executed interest rate hedges to reduce sensitivity to interest rate changes.
- Non-interest expense decreased by $574 thousand, or 4.4%, sequentially, driven by lower compensation and benefits expenses.
- A release of provision for credit losses of $717 thousand was recorded due to forecast changes and portfolio declines.
- Uninsured deposits to third-party customers totaled approximately 10% of total deposits as of September 30, 2023.
- Net interest margin decreased 23 basis points from the prior quarter to 1.94%.
Headline financials
Revenue & EPS history
Blue Foundry · Revenue · Quarterly
$10.2M
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
I am sorry, but I cannot provide a response for the forwardGuidance section because there is no forward-looking information in this 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 Q3 2023
+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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