BCB Bancorp, Inc. (NASDAQ: BCBP) reported a net loss of $14.8 million for the second quarter ended June 30, 2026, compared to net income of $4.9 million in the prior quarter and net income of $3.6 million in the second quarter of 2025, according to a company press release. Loss per diluted share was ($0.85), against earnings of $0.26 in the first quarter of 2026.

The quarterly loss was driven primarily by a $19.0 million provision for credit losses, a $5.3 million non-cash goodwill impairment charge, and a $2.6 million loss on a loan transferred to held-for-sale. The elevated provision reflected additional reserves for the company's Business Express and broader commercial and industrial loan portfolios, which have experienced elevated net charge-offs. The goodwill impairment charge fully eliminated goodwill from the balance sheet following an interim assessment triggered by the quarterly loss and the stock's continued trading at a discount to book value.

For the first six months of 2026, BCB Bancorp recorded a net loss of $9.9 million, compared to a net loss of $4.8 million for the same period in 2025.

Total assets stood at $3.118 billion at June 30, 2026, down from $3.279 billion at December 31, 2025. Total deposits were $2.636 billion, and net loans receivable were $2.588 billion. Stockholders' equity decreased to $291.9 million from $304.3 million at year-end 2025. Non-accrual loans totaled $72.0 million, or 2.73 percent of gross loans, at June 30, 2026.

The company's board of directors suspended both common and preferred dividends to preserve capital. The bank has also ceased originating residential mortgage, home equity, and consumer loans. A comprehensive review of the loan portfolio with independent consultants is ongoing, with completion targeted by the end of the third quarter.

Separately, the board approved a plan to reincorporate the company in Delaware, subject to shareholder approval at a special meeting to be held later in 2026. The reincorporation would also end staggered board terms in favor of annual director elections. A proxy statement will be filed in connection with the meeting.