BCB Bancorp, Inc. (the “Company”), (NASDAQ: BCBP), the holding
company for BCB Community Bank (the “Bank”), today announced that
it had extended its offer (the "exchange offer") to exchange up to
$40 million aggregate principal amount of its outstanding 9.25%
Fixed-to-Floating Rate Subordinated Notes due 2034 (the "Old
Notes") for an equivalent amount of its 9.25% Fixed-to-Floating
Rate Subordinated Notes due 2034 registered under the Securities
Act of 1933, as amended (the "Exchange Notes"). $40 million
aggregate principal amount of Old Notes were issued and sold by the
Company in August 2024 in a private offering.
The exchange offer, previously scheduled to expire at 5:00 p.m.,
Eastern Time, on Tuesday, December 3, 2024, will now expire at 5:00
p.m., Eastern Time, on Thursday, December 5, 2024, unless further
extended. $39 million in aggregate principal amount, or 97.5%, of
the outstanding Old Notes were tendered in the exchange offer as of
5:00 p.m., Eastern Time, on December 3, 2024.
The terms of the exchange offer are set forth in a prospectus
dated October 31, 2024. Copies of the prospectus and the other
exchange offer documents may be obtained from the exchange
agent:
UMB Bank, N.A. Attn: Corporate Trust
Officer/James Henry 5555 San Felipe, Suite 870 Houston, Texas 77056
Telephone: (512) 582-5851 Email: james.henry@umb.com Facsimile (for
eligible institutions only): (512) 582-5855
This press release is for informational purposes only and is
neither an offer to buy or sell nor a solicitation of an offer to
buy or sell any Old Notes or Exchange Notes. The exchange offer is
being made only pursuant to the exchange offer prospectus, which is
being distributed to holders of the Old Notes and has been filed
with the Securities and Exchange Commission as part of the
Company's Registration Statement on Form S-4 (File No. 333-282784),
which was declared effective on October 30, 2024.
About BCB Bancorp, Inc.
BCB Bancorp, Inc. is a New Jersey corporation established in
2003, and is the holding company parent of BCB Community Bank. The
Company has not engaged in any significant business activity other
than owning all of the outstanding common stock of the Bank.
Established in 2000 and headquartered in Bayonne, N.J., the Bank is
the wholly-owned subsidiary of BCB Bancorp, Inc. (NASDAQ: BCBP).
The Bank has twenty-three branch offices in Bayonne, Edison,
Hoboken, Fairfield, Holmdel, Jersey City, Lyndhurst, Maplewood,
Monroe Township, Newark, Parsippany, Plainsboro, River Edge,
Rutherford, South Orange, Union, and Woodbridge, New Jersey, and
three branch offices in Hicksville and Staten Island, New York. The
Bank provides businesses 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.
The most significant factor that could cause future results to
differ materially from those anticipated by our forward-looking
statements include the ongoing impact of higher inflation levels,
higher interest rates and general economic and recessionary
concerns, all of which could impact economic growth and could cause
a reduction in financial transactions and business activities,
including decreased deposits and reduced loan originations, our
ability to manage liquidity and capital in a rapidly changing and
unpredictable market, supply chain disruptions, labor shortages and
additional interest rate increases by the Federal Reserve. Other
factors that could cause future results to vary materially from
current management expectations as reflected in our forward-looking
statements include, but are not limited to: the global impact of
the military conflicts in the Ukraine and the Middle East;
unfavorable economic conditions in the United States generally and
particularly in our primary market area; the Company’s ability to
effectively attract and deploy deposits; the impact of any future
pandemics or other natural disasters; changes in the Company’s
corporate strategies, the composition of its assets, or the way in
which it funds those assets; shifts in investor sentiment or
behavior in the securities, capital, or other financial markets,
including changes in market liquidity or volatility; the effects of
declines in real estate values that may adversely impact the
collateral underlying our loans; increase in unemployment levels
and slowdowns in economic growth; our level of non-performing
assets and the costs associated with resolving any problem loans
including litigation and other costs; the impact of changes in
interest rates and the credit quality and strength of underlying
collateral and the effect of such changes on the market value of
our loan and investment securities portfolios; the credit risk
associated with our loan portfolio; changes in the quality and
composition of the Bank’s loan and investment portfolios; changes
in our ability to access cost-effective funding; deposit flows;
legislative and regulatory changes, including increases in Federal
Deposit Insurance Corporation, or FDIC, insurance rates; monetary
and fiscal policies of the federal and state governments; changes
in tax policies, rates and regulations of federal, state and local
tax authorities; demands for our loan products; demand for
financial services; competition; changes in the securities or
secondary mortgage markets; changes in management’s business
strategies; changes in consumer spending; our ability to retain key
employees; the effects of any reputational, credit, interest rate,
market, operational, legal, liquidity, or regulatory risk;
expanding regulatory requirements which could adversely affect
operating results; civil unrest in the communities that we serve;
and other factors discussed elsewhere in this report, and in other
reports we filed with the SEC, including under “Risk Factors” in
Part I, Item 1A of our Annual Report on Form 10-K, and our other
periodic reports that we file with the SEC.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241204876004/en/
Michael Shriner, President & CEO Jawad Chaudhry, EVP &
CFO (201) 823-0700
BCB Bancorp (NASDAQ:BCBP)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
BCB Bancorp (NASDAQ:BCBP)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024
