Mon, May 12, 6:20 PM (41 days ago)
**Blue Foundry Bancorp (BLFY) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** Total interest income increased by 9.0% to $22.7 million, driven by higher rates on interest-earning assets. - **Profit Margins:** Net interest margin improved by 24 basis points to 2.16%. - **Cash Flow:** Net cash used in operating activities was $(3.8) million, while investing activities used $(26.6) million, and financing activities provided $34.1 million. - **Earnings:** Net loss was $(2.7) million, slightly improved from $(2.8) million in Q1 2024. **Key Metrics:** - **Loans:** Gross loans increased by $42.2 million to $1.63 billion, with growth in consumer, commercial real estate, and construction loans. - **Deposits:** Total deposits increased by 3.3% to $1.39 billion, with growth in NOW, demand, and time deposits. - **Shareholders' Equity:** Decreased by 1.7% to $326.7 million due to share repurchases and net loss. **Trends & Uncertainties:** - **Interest Rate Sensitivity:** The company is exposed to interest rate risk, with a 17% decrease in Economic Value of Equity (EVE) expected for a 100 basis point increase in rates. - **Liquidity:** The company has sufficient liquidity to meet obligations, with available borrowing capacity and unencumbered securities. - **Capital:** The company is well-capitalized, exceeding all regulatory requirements. **Future Operations:** - The company plans to continue growing target deposit accounts, utilizing its investment securities portfolio and interest rate swaps to manage interest rate risk. - The company will also focus on diversifying its loan portfolio and managing market, credit, and operational risks. **Ticker:** BLFY