BCB Bancorp, Inc. Announces Completion of $12.5 Million Common Stock Sale
January 06 2020 - 9:00AM
BCB Bancorp, Inc. (the “Company”) (NASDAQ: BCBP), the holding
company for BCB Community Bank, today announced that on December
30, 2019 it completed a sale of 1,020,408 shares of common stock,
at an issuance price of $12.25 per share to MFP Partners, L.P.
Gross proceeds from the offering were approximately $12.5
million.
“The success of this common stock sale reflects
continued confidence in our company and we welcome MFP Partners,
L.P. as a shareholder,” stated Thomas Coughlin, President and Chief
Executive Officer. “This additional capital will enhance our
strategic capabilities to grow our franchise and support the needs
of our customers.”
The Company expects to use the proceeds from the
capital raise for general corporate purposes, including but not
limited to supporting organic growth and facilitating potential
expansion opportunities.
About BCB Bancorp, Inc.
Established in 2000 and headquartered in
Bayonne, N.J., BCB Community Bank is the wholly-owned subsidiary of
BCB Bancorp, Inc. (NASDAQ: BCBP). The Bank has 30 branch offices in
Bayonne, Carteret, Colonia, Edison, Hoboken, Fairfield, Holmdel,
Jersey City, Lodi, Lyndhurst, Maplewood, Monroe Township,
Parsippany, Plainsboro, River Edge, Rutherford, South Orange,
Union, and Woodbridge, New Jersey, three branches in Hicksville and
Staten Island, New York, and a loan production office in Hoboken.
The Bank provides business and individuals a wide range of loans,
deposit products, and retail and commercial banking services.
For more information, please go to www.bcb.bank.
Forward-Looking Statements
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.
In addition to factors previously disclosed in
the Company’s reports filed with the U.S. Securities and Exchange
Commission (the "SEC") and those identified elsewhere in this
document, the following factors, among others, could cause actual
results to differ materially from forward-looking statements or
historical performance: changes in asset quality and credit risk;
the inability to sustain revenue and earnings growth; changes in
interest rates and capital markets; inflation; customer acceptance
of BCB products and services; customer borrowing, repayment,
investment and deposit practices; customer disintermediation; the
introduction, withdrawal, success and timing of business
initiatives; competitive conditions; the inability to realize cost
savings or revenues or to implement integration plans and other
consequences associated with mergers, acquisitions and
divestitures; economic conditions; and the impact, extent and
timing of technological changes, capital management activities, and
actions of governmental agencies and legislative and regulatory
actions and reforms.
Contact: |
Thomas Coughlin, President & CEOMichael Lesler, COOThomas
Keating, CFO(201) 823-0700 |
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