BCB Bancorp, Inc. announced on June 18, 2026, that its Board of Directors voted to suspend quarterly cash dividends on its common and preferred stock. The holding company for BCB Community Bank also suspended its 2026 Amended and Restated Dividend Reinvestment and Stock Purchase Plan. The move aims to preserve capital while the bank undergoes a fulsome evaluation of its credit portfolios.

Thomas M. O'Brien, President and Chief Executive Officer of BCB Bancorp, Inc. and BCB Community Bank, stated that eliminating the quarterly dividend will conserve approximately $1.86 million of capital per quarter. He emphasized that the decision is intended to maintain the bank's "well-capitalized" position with a reasonable cushion and support long-term shareholder value. O'Brien also noted that the bank is expected to continue supporting the parent company's debt service obligations given its limited cash position.

Capital Preservation Strategy

The suspension of dividends is part of a broader strategy to focus on capital preservation during the evaluation period. The bank's credit portfolios are under review, a process that O'Brien indicated will take some time. The decision to suspend payouts reflects a cautious approach to maintaining financial stability amid ongoing assessments.

Company Overview

BCB Community Bank, established in 2000 and headquartered in Bayonne, N.J., is a wholly-owned subsidiary of BCB Bancorp, Inc. The bank operates 23 branch offices across New Jersey and four branches in New York. It offers a range of loans, deposit products, and retail and commercial banking services to businesses and individuals.

The bank's operations span multiple locations in New Jersey, including Bayonne, Edison, Hoboken, and Jersey City, as well as Hicksville and Staten Island in New York. The suspension of dividends marks a significant shift in the company's capital allocation strategy as it prioritizes financial stability.