Articles from Blue Foundry Bancorp

RUTHERFORD, N.J., April 24, 2023 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ: BLFY), the holding company for Blue Foundry Bank, announced that it has adopted a program to repurchase up to 1,335,126 shares of its common stock, which is approximately 5% of its outstanding common stock commencing upon the completion of the Company’s existing stock repurchase program. This is the Company’s second stock repurchase program since completing its mutual-to-stock conversion and related stock offering in July 2021.

Blue Foundry Bancorp (Nasdaq: BLFY) (the “Company”), announced today that Kelly Pecoraro will be joining Blue Foundry Bancorp on May 9, 2022. Subsequently, Ms. Pecoraro is expected to be appointed as the Company’s Executive Vice President and Chief Financial Officer on May 18, 2022 at the May meeting of the Company’s Board of Directors.

Blue Foundry Bancorp (NASDAQ:BLFY) (the “Company”), the holding company for Blue Foundry Bank (the “Bank”), today reported a 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, and a net loss of $1.7 million for the six months ended June 30, 2021 compared to a net loss of $28.1 million for the six months ended June 30, 2020. The improvement in net loss for those comparative periods was largely driven by a decrease in non-interest expenses, in particular the reclassification of certain properties into held-for-sale in the first quarter of 2020 and goodwill impairment recorded in the second quarter of 2020.

Blue Foundry Bancorp (the “Company”), the holding company for Blue Foundry Bank, announced today that it had closed its stock offering in connection with the completion of the conversion of Blue Foundry, MHC into the stock holding company form of organization.