Loading...
•
Dec 31, 2021
Blue Foundry Q4 2021 Earnings Report
Blue Foundry's financial performance declined due to a valuation allowance on deferred tax assets, but net interest margin expanded.
Key Takeaways
Blue Foundry Bancorp reported a net loss for Q4 2021, primarily due to a valuation allowance on deferred tax assets. However, the company saw an increase in net interest income and margin expansion during the quarter.
Net loss of $19.6 million, or $(0.75) per share, compared to a net loss of $1.8 million for the three months ended December 31, 2020.
Net interest margin increased by 63 basis points to 2.63% for the quarter ended December 31, 2021, from 2.00% for the three months ended December 31, 2020.
Total assets decreased to $1.91 billion at December 31, 2021 from $1.94 billion at December 31, 2020.
Total deposits decreased to $1.25 billion at December 31, 2021 compared to $1.36 billion at December 31, 2020, as the company allowed high cost time deposits to mature.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...