Blue Foundry Bancorp (BLFY) 10-Year Financial Performance & Capital Metrics

BLFY • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutBlue Foundry Bancorp operates as a bank holding company for Blue Foundry Bank, a savings bank that offers various banking products and services for individuals and businesses. The company offers deposits; and loans, such as one-to-four family residential property, home equity, commercial real estate, multi-family, construction, commercial and industrial, and other consumer loans, as well as home equity lines of credit. As of December 31, 2021, it operated 17 full-service branch offices located in northern New Jersey. The company was formerly known as Boiling Springs Bancorp and changed its name to Blue Foundry Bancorp in July 2019. Blue Foundry Bancorp was founded in 1939 and is based in Rutherford, New Jersey.Show more

Net Interest Income $38M -10.4%
Total Revenue $87M +7.8%
Net Income -$12M -61.0%
Return on Equity -3.46% -75.4%
Net Interest Margin 1.82% -11.1%
Efficiency Ratio 60.3% -5.4%
ROA -0.58% -60.3%
Equity / Assets 16.12% -7.3%
Book Value per Share 15.47 +4.1%
Tangible BV/Share 15.47 +4.1%
Debt/Equity 1.10 -8.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 85 (top 15%)
✓Well capitalized: 16.1% equity/assets
✓Share count reduced 10.2% through buybacks
✓Trading near 52-week high
✓Trading at only 0.8x book value

✗Weaknesses

✗Weak NIM of 1.8%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y5.28%

3Y14.23%

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM39.65%

EPS CAGR

10Y-

5Y-

3Y-

TTM18.8%

ROCE

10Y Avg-1.99%

5Y Avg-2.66%

3Y Avg-0.71%

Latest-1.57%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	42.92M	39.07M	42.95M	51.84M	41.92M	37.55M
NII Growth %	-	-0.09%	0.1%	0.21%	-0.19%	-0.1%
Net Interest Margin %	-	-	-	-	-	-
Interest Income	64.83M	61.63M	56.05M	62.41M	79.11M	85.45M
Interest Expense	21.91M	22.56M	13.1M	10.57M	37.19M	47.9M
Loan Loss Provision	1.26M	3.83M	-1.83M	-1.31M	-441K	-1.35M
Non-Interest Income+	2.62M	-11.57M	2.48M	2.66M	1.8M	1.79M
Non-Interest Income %	-	-	-	-	-	-
Total Revenue+	67.45M	50.06M	58.53M	65.08M	80.91M	87.25M
Revenue Growth %	-	-0.26%	0.17%	0.11%	0.24%	0.08%
Non-Interest Expense	36.96M	63.04M	73.98M	53.09M	51.56M	52.6M
Efficiency Ratio	-	-	-	-	-	-
Operating Income+	7.32M	-39.37M	-26.72M	2.73M	-7.4M	-11.91M
Operating Margin %	-	-	-	-	-	-
Operating Income Growth %	-	-6.38%	0.32%	1.1%	-3.71%	-0.61%
Pretax Income+	7.32M	-39.37M	-26.72M	2.73M	-7.4M	-11.91M
Pretax Margin %	-	-	-	-	-	-
Income Tax+	1.84M	-7.87M	9.62M	338K	0	0
Effective Tax Rate %	-	-	-	-	-	-
Net Income+	5.48M	-31.51M	-36.34M	2.4M	-7.4M	-11.91M
Net Margin %	-	-	-	-	-	-
Net Income Growth %	-	-6.75%	-0.15%	1.07%	-4.09%	-0.61%
Net Income (Continuing)	5.48M	-31.51M	-36.34M	2.4M	-7.4M	-11.91M
EPS (Diluted)+	0.20	-1.13	-1.38	0.09	-0.31	-0.55
EPS Growth %	-	-6.65%	-0.22%	1.07%	-4.44%	-0.77%
EPS (Basic)	0.20	-1.13	-1.38	0.09	-0.31	-0.55
Diluted Shares Outstanding	27.77M	27.77M	26.33M	26.27M	23.93M	21.48M

Balance Sheet

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	124.03M	316.44M	193.45M	41.18M	46.02M	42.5M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	1.63B	1.52B	1.62B	1.88B	1.86B	1.9B
Investments Growth %	-	-0.06%	0.06%	0.16%	-0.01%	0.02%
Long-Term Investments	1.42B	1.28B	1.3B	1.57B	1.58B	1.6B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-
Goodwill	15.46M	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0
PP&E (Net)	32.27M	44.45M	53.58M	55.73M	57.65M	52.96M
Other Assets	49.13M	51.9M	40.45M	59.85M	70.1M	56.59M
Total Current Assets	333.83M	566.78M	523.71M	362.32M	337.39M	347.54M
Total Non-Current Assets	1.52B	1.38B	1.39B	1.68B	1.71B	1.71B
Total Assets+	1.85B	1.94B	1.91B	2.04B	2.04B	2.06B
Asset Growth %	-	0.05%	-0.01%	0.07%	0%	0.01%
Return on Assets (ROA)	0%	-0.02%	-0.02%	0%	-0%	-0.01%
Accounts Payable	0	0	0	0	0	0
Total Debt+	296.9M	354.94M	212.2M	337.82M	424.28M	364.67M
Net Debt	172.87M	38.49M	18.75M	296.64M	378.25M	322.17M
Long-Term Debt	296.9M	329.4M	185.5M	310.5M	397.5M	339.5M
Short-Term Debt	0	0	0	0	0	0
Other Liabilities	24.58M	25.83M	25.5M	22.93M	20.14M	20.5M
Total Current Liabilities	1.3B	1.36B	1.25B	1.29B	1.24B	1.34B
Total Non-Current Liabilities	321.48M	380.76M	237.7M	360.76M	444.42M	385.17M
Total Liabilities	1.62B	1.74B	1.48B	1.65B	1.69B	1.73B
Total Equity+	237.62M	205.6M	429.47M	393.72M	355.64M	332.2M
Equity Growth %	-	-0.13%	1.09%	-0.08%	-0.1%	-0.07%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-
Return on Equity (ROE)	0.02%	-0.14%	-0.11%	0.01%	-0.02%	-0.03%
Book Value per Share	8.56	7.40	16.31	14.99	14.86	15.47
Tangible BV per Share	-	-	-	-	-	-
Common Stock	10K	10K	285K	285K	285K	285K
Additional Paid-in Capital	822.12K	822K	282.01M	279.45M	273.99M	277.3M
Retained Earnings	237.31M	205.8M	169.46M	171.76M	164.34M	152.43M
Accumulated OCI	-517K	-1.03M	-372K	-24.72M	-22.88M	-18.95M
Treasury Stock	0	0	0	-12.07M	-40.02M	-59.7M
Preferred Stock	0	0	0	0	0	0

Cash Flow

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	5.43M	-1.25M	-14.14M	2.78M	-12.12M	5.06M
Operating CF Growth %	-	-1.23%	-10.3%	1.2%	-5.36%	1.42%
Net Income	5.48M	-31.51M	-36.34M	2.4M	-7.4M	-11.91M
Depreciation & Amortization	1.92M	1.93M	2.35M	2.66M	2.87M	3.13M
Deferred Taxes	826.28K	-6.45M	8.73M	0	0	0
Other Non-Cash Items	2.02M	33.36M	-1.75M	-605K	-2K	-913K
Working Capital Changes	-4.82M	1.41M	11.6M	-3.49M	-11.36M	10.7M
Cash from Investing+	-57.71M	101.39M	-105.33M	-306.24M	10.3M	-30.01M
Purchase of Investments	-128.51M	-128.57M	-188.32M	-90.79M	-15.52M	-89.26M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0
Other Investing	32.66M	137.98M	8.67M	-262.62M	-19.36M	-19.24M
Cash from Financing+	141.86M	92.27M	-3.52M	151.19M	6.66M	21.42M
Dividends Paid	0	0	0	0	0	0
Share Repurchases	0	0	0	-15.35M	-36.01M	-19.42M
Stock Issued	0	0	250.78M	0	0	0
Net Stock Activity	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	-1000K	1000K	1000K	-1000K
Other Financing	41.46M	59.77M	-110.4M	41.54M	-44.33M	98.84M
Net Change in Cash+	89.58M	192.41M	-123M	-152.26M	4.84M	-3.52M
Exchange Rate Effect	0	0	0	0	0	0
Cash at Beginning	34.45M	124.03M	316.44M	193.45M	41.18M	46.02M
Cash at End	124.03M	316.44M	193.45M	41.18M	46.02M	42.5M
Interest Paid	21.7M	22.57M	12.84M	10.71M	36.31M	48.04M
Income Taxes Paid	1.62M	167K	150K	190K	96K	136K
Free Cash Flow+	3.23M	-8.54M	-26.04M	-2.58M	-17.69M	4.92M
FCF Growth %	-	-3.65%	-2.05%	0.9%	-5.84%	1.28%

Banking Ratios

Metric	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	2.31%	-14.22%	-11.45%	0.58%	-1.97%	-3.46%
Return on Assets (ROA)	0.3%	-1.66%	-1.88%	0.12%	-0.36%	-0.58%
Net Interest Margin	2.31%	2.01%	2.24%	2.54%	2.05%	1.82%
Efficiency Ratio	54.79%	125.94%	126.39%	81.57%	63.73%	60.3%
Equity / Assets	12.82%	10.58%	22.44%	19.27%	17.39%	16.12%
Book Value / Share	8.56	7.4	16.31	14.99	14.86	15.47
NII Growth	-	-8.98%	9.93%	20.71%	-19.14%	-10.42%

Frequently Asked Questions

Growth & Financials

Blue Foundry Bancorp (BLFY) grew revenue by 7.8% over the past year. This is steady growth.

Blue Foundry Bancorp (BLFY) reported a net loss of $7.3M for fiscal year 2024.

Dividend & Returns

Blue Foundry Bancorp (BLFY) has a return on equity (ROE) of -3.5%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Blue Foundry Bancorp (BLFY) has a net interest margin (NIM) of 1.8%. NIM has been under pressure due to interest rate environment.

Blue Foundry Bancorp (BLFY) has an efficiency ratio of 60.3%. This is reasonable for a bank.

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