BCB Bancorp, Inc., Bayonne, N.J. (NASDAQ:BCBP), announced that the
Board of Directors unanimously approved a quarterly cash dividend
of $0.14/share on April 27th, 2017 to shareholders in its common
stock of record on May 8th, 2017, payable on May 22nd, 2017. This
compares with a quarterly dividend of $0.14/share for the same
period last year.
Thomas Coughlin, President and Chief Executive
Officer, said, "The declaration of our quarterly cash dividend
reflects the bank’s continued ability to deliver value and returns
to our shareholders while maintaining our standing as a
well-capitalized financial institution based upon all quantitative
measurements as established by our regulatory agencies. The Bank’s
strong fiscal quarter and dividend declaration were in line with
our strategic plan. The improvements to our key performance
indicators continue to move us towards becoming a high performing
bank.”
BCB Community Bank currently operates 22
full-service branches in Bayonne, Carteret, Colonia, Edison,
Fairfield, Hoboken, Holmdel, Jersey City, Lodi, Lyndhurst, Monroe
Township, Rutherford, South Orange, Union, and Woodbridge, NJ as
well as two locations in Staten Island, NY.
Questions regarding the content of this release
should be directed to Thomas Coughlin, President and Chief
Executive Officer, or Thomas Keating, Senior Vice President and
Chief Financial Officer, at (201) 823-0700.
Forward-looking Statements and
Associated Risk Factors
This release, like many written and oral
communications presented by BCB Bancorp, Inc., and our authorized
officers, may contain certain forward-looking statements regarding
our prospective performance and strategies within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. We intend
such forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995, and are including this
statement for purposes of said safe harbor provisions.
Forward-looking statements, which are based on
certain assumptions and describe future plans, strategies, and
expectations of the Company, are generally identified by use of
words “anticipate,” “believe,” “estimate,” “expect,” “intend,”
“plan,” “project,” “seek,” “strive,” “try,” or future or
conditional verbs such as “could,” “may,” “should,” “will,”
“would,” or similar expressions. Our ability to predict results or
the actual effects of our plans or strategies is inherently
uncertain. Accordingly, actual results may differ materially from
anticipated results.
There are a number of factors, many of which are
beyond our control, that could cause actual conditions, events, or
results to differ significantly from those described in our
forward-looking statements. These factors include, but are not
limited to: general economic conditions and trends, either
nationally or in some or all of the areas in which we and our
customers conduct our respective businesses; conditions in the
securities markets or the banking industry; changes in interest
rates, which may affect our net income, prepayment penalties and
other future cash flows, or the market value of our assets; changes
in deposit flows, and in the demand for deposit, loan, and
investment products and other financial services in the markets we
serve; changes in the financial or operating performance of our
customers’ businesses; changes in real estate values, which could
impact the quality of the assets securing the loans in our
portfolio; changes in the quality or composition of our loan or
investment portfolios; changes in competitive pressures among
financial institutions or from non-financial institutions; changes
in our customer base; potential exposure to unknown or contingent
liabilities of companies targeted for acquisition; our ability to
retain key members of management; our timely development of new
lines of business and competitive products or services in a
changing environment, and the acceptance of such products or
services by our customers; any interruption or breach of security
resulting in failures or disruptions in customer account
management, general ledger, deposit, loan or other systems; any
interruption in customer service due to circumstances beyond our
control; the outcome of pending or threatened litigation, or of
other matters before regulatory agencies, or of matters resulting
from regulatory exams, whether currently existing or commencing in
the future; environmental conditions that exist or may exist on
properties owned by, leased by, or mortgaged to the Company;
changes in estimates of future reserve requirements based upon the
periodic review thereof under relevant regulatory and accounting
requirements; changes in legislation, regulation, and policies,
including, but not limited to, those pertaining to banking,
securities, tax, environmental protection, and insurance, and the
ability to comply with such changes in a timely manner; changes in
accounting principles, policies, practices, or guidelines;
operational issues stemming from, and/or capital spending
necessitated by, the potential need to adapt to industry changes in
information technology systems, on which we are highly dependent;
the ability to keep pace with, and implement on a timely basis,
technological changes; changes in the monetary and fiscal policies
of the U.S. Government, including policies of the U.S. Treasury and
the Federal Reserve Board; war or terrorist activities; and other
economic, competitive, governmental, regulatory, and geopolitical
factors affecting our operations, pricing and services.
Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this release. Except as required by applicable law
or regulation, the Company undertakes no obligation to update these
forward-looking statements to reflect events or circumstances that
occur after the date on which such statements were made.
BCB Bancorp, Inc.
Thomas Coughlin
President and Chief Executive Officer
or
Thomas Keating
Senior Vice President and Chief Financial Officer
201-823-0700
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