Financial Performance - The Company recorded a net loss of $2.7 million for Q1 2025, compared to a net loss of $2.8 million for Q1 2024, indicating a slight improvement [149]. - Non-interest income decreased by $57 thousand, or 12.6%, to $394 thousand in Q1 2025, primarily due to the absence of a gain on loan sales that occurred in the previous year [154]. - Non-interest expense increased by $387 thousand to $13.6 million in Q1 2025, driven by higher compensation and benefits expenses [155]. Interest Income and Loans - Interest income increased by $1.9 million, or 9.0%, to $22.7 million in Q1 2025, driven by higher rates on interest-earning assets [150]. - Net interest income rose to $10.7 million in Q1 2025, up from $9.4 million in Q1 2024, with a net interest rate spread of 1.62% and a net interest margin of 2.16% [152][159]. - The provision for credit losses was $201 thousand in Q1 2025, compared to a release of $535 thousand in Q1 2024, reflecting an increase in loan balances [153]. - Gross loans held for investment rose by $42.2 million to $1.63 billion at March 31, 2025, with notable increases in consumer and commercial real estate loans [162]. - Total loans increased to $1.625 billion at March 31, 2025, up from $1.583 billion at December 31, 2024, representing a growth of 2.7% [163]. Assets and Deposits - Total assets increased to $2.09 billion at March 31, 2025, from $2.06 billion at December 31, 2024 [160]. - Cash and cash equivalents increased by $3.7 million, or 9%, to $46.2 million at March 31, 2025 [160]. - Total deposits reached $1.39 billion at March 31, 2025, an increase of $43.9 million, or 3.3%, from December 31, 2024 [164]. - Core deposits accounted for 47.6% of total deposits at March 31, 2025, compared to 47.3% at December 31, 2024 [164]. Non-Performing Assets and Equity - Total non-performing assets rose to $5.723 million at March 31, 2025, compared to $5.104 million at December 31, 2024 [163]. - Total shareholders' equity decreased by $5.5 million, or 1.7%, to $326.7 million at March 31, 2025, primarily due to share repurchases [166]. Capital and Regulatory Compliance - The bank was considered "well capitalized" under regulatory guidelines as of March 31, 2025, exceeding all applicable regulatory capital requirements [181]. - Common equity tier 1 capital as of March 31, 2025, is $287,537 thousand, representing a ratio of 18.58% [182]. - Total capital as of March 31, 2025, is $300,942 thousand, with a ratio of 19.45% [182]. - Tier 1 capital as of March 31, 2025, stands at $287,537 thousand, with a ratio of 18.58% [182]. - The capital buffer for common equity tier 1 as of March 31, 2025, is $108,302 thousand, exceeding the minimum requirement of 7.00% [182]. - The total capital ratio as of March 31, 2025, exceeds the minimum requirement of 10.50% by reaching 19.45% [182]. - The leverage ratio for tier 1 capital as of March 31, 2025, is 13.73%, above the minimum requirement of 4.00% [182]. Interest Rate Risk - Estimated changes in net interest income indicate a potential increase of $1,682 thousand, or 3.4%, with a 200 basis point increase in interest rates [174]. - The estimated economic value of equity (EVE) would decrease by 33.1% with a 200 basis point increase in interest rates, indicating significant interest rate risk exposure [175].

Financial Data and Key Metrics Changes - The company reported a net loss of $2.7 million or 13¢ per diluted share for Q1 2025, similar to the prior quarter, but showed a meaningful improvement in net interest income [9][10] - Net interest income increased by $1.3 million or 13.4%, driven by a 27 basis point expansion in net interest margin [9][10] - Tangible book value per share increased to $14.81, up 7¢ from the prior quarter [6] Business Line Data and Key Metrics Changes - Loan production totaled $90 million during the quarter with a weighted average yield of approximately 7.1% [5] - The company achieved 3% loan growth, with $44 million in deposit growth and a 14 basis point reduction in the cost of deposits [4] - The loan portfolio included $33 million in commercial real estate loans, $9 million in residential mortgages, and $7 million in construction loans [5] Market Data and Key Metrics Changes - Deposits increased by $43.9 million or 3.2%, with core deposit count growing by $24.4 million or 3.8% [13][14] - The company maintained a strong liquidity position with $413 million in untapped borrowing capacity and $28 million in liquidity from unencumbered available-for-sale securities and unrestricted cash [7] Company Strategy and Development Direction - The strategic priorities for 2025 focus on driving loan growth, maintaining strong credit quality, and diversifying low-cost funding sources [3] - The company is emphasizing higher-yielding asset classes and portfolio diversification to enhance earnings and long-term franchise value [6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the momentum of lending and deposit gathering activities, despite reporting a net loss [4] - The company expects additional margin expansion of 5 to 10 basis points in the second quarter [18] - Management highlighted the importance of maintaining expense discipline while anticipating operating expenses to remain in the high $13 million to low $14 million range [11] Other Important Information - The company repurchased 464,000 shares at a weighted average price of $9.52, enhancing shareholder value [6] - Nonperforming assets increased slightly but remain low at 27 basis points of total assets [15] Q&A Session Summary Question: Margin for the quarter - Management expects margin expansion of 5 to 10 basis points in the second quarter [18] Question: Loan maturities and resets - Approximately $220 million in loans will mature or reprice within 2025, with yields just shy of 7% [19] Question: Deposit rates and margin expansion - The company has room to lower rates on core deposits as they transition from CDs [21] Question: Unsecured consumer loans - The yield on unsecured consumer loans is around 7%, and they come with credit reserves [24] Question: Future loan purchases - The company will consider additional loan purchases to augment organic growth but does not have a set cap on this strategy [26] Question: Expense outlook - Additional bankers may be hired to support organic loan growth, impacting expenses [41] Question: Share buyback program - The company plans to continue executing the share buyback program while being mindful of capital deployment [53]

Exhibit 99.1 FOR IMMEDIATE RELEASE Blue Foundry Bancorp Reports First Quarter 2025 Results RUTHERFORD, NJ, April 30, 2025 — Blue Foundry Bancorp (NASDAQ:BLFY) (the "Company"), the holding company for Blue Foundry Bank (the "Bank"), today reported a net loss of $2.7 million, or $0.13 per diluted common share, for the three months ended March 31, 2025, compared to net loss of $2.7 million, or $0.13 per diluted common share, for the three months ended December 31, 2024, and a net loss of $2.8 million, or $0.13 ...

Core Points - Blue Foundry Bancorp reported a net loss of $2.7 million, or $0.13 per diluted common share, for Q1 2025, consistent with the previous quarter and slightly improved from a net loss of $2.8 million in Q1 2024 [1][34]. Financial Performance - The net interest margin increased by 27 basis points to 2.16%, driven by improved yields on assets and reduced costs of liabilities [2][12]. - Interest income for the quarter was $22.7 million, up by $928 thousand, or 4.3%, compared to the previous quarter [6]. - Interest expense decreased by $343 thousand, or 2.8%, to $12.0 million compared to the linked quarter [6]. Loan and Deposit Growth - Total loans increased by $42.2 million to $1.63 billion, with significant growth in commercial real estate and consumer portfolios [4][22]. - Deposits rose by $43.9 million to $1.39 billion, with increases in NOW and demand accounts and time deposits [7][22]. Asset Quality - The non-performing asset ratio was 0.27%, with non-performing loans totaling $5.7 million, or 0.35% of total loans [28][36]. - The allowance for credit losses on loans was 0.81% of gross loans, with a provision for credit losses of $201 thousand recorded for Q1 2025 [28][36]. Capital Position - Tangible book value per share increased to $14.81, and the company maintained a strong capital position [2][28]. - Shareholders' equity decreased by $5.5 million to $326.7 million, primarily due to share repurchases [28].

Core Points - Blue Foundry Bancorp will release its financial results for the quarter ended March 31, 2025, on April 30, 2025 [1] - A conference call for investors and analysts will be held on the same day at 11:00 AM (ET) to discuss the earnings [2] - Participants are encouraged to pre-register for the webcast call [3] Company Overview - Blue Foundry Bancorp is the holding company for Blue Foundry Bank, headquartered in Rutherford, NJ, with a presence in several counties [4] - The bank offers tailored products and services to individuals and businesses, emphasizing its commitment to the community [4] - Blue Foundry Bank has a history of over 145 years, highlighting its longstanding dedication to customers [4]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40619 BLUE FOUNDRY BANCORP Delaware 86-2831373 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identi ...

Blue Foundry Bancorp (BLFY) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.17. This compares to loss of $0.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 23.53%. A quarter ago, it was expected that this company would post a loss of $0.17 per share when it actually produced a loss of $0.19, delivering a surprise of -11.76%.Over the last four quarters, the company has su ...

Financial Performance - The company reported a net loss of $11.9 million, or $0.55 per diluted common share, for the year ended December 31, 2024, compared to a net loss of $7.4 million, or $0.31 per diluted common share for the year ended December 31, 2023[2]. - The net loss for the three months ended December 31, 2024, was $2,687,000, an improvement from a net loss of $2,931,000 in the same period of 2023[41]. - Non-interest income decreased by $152 thousand, or 26.57%, compared to the fourth quarter of 2023, primarily due to the absence of gains on sales of loans and securities[15]. - Non-interest expense for the year increased by $1.0 million to $52.6 million, driven by higher compensation and benefits costs[21]. - Total non-interest expenses were $12,881,000 for the three months ended December 31, 2024, compared to $12,543,000 for the same period in 2023, representing an increase of 2.7%[41]. - The efficiency ratio (non-GAAP) improved to 130.20% for the three months ended December 31, 2024, compared to 140.04% in the previous quarter[43]. Loan and Deposit Growth - Total loans increased by $22.8 million during 2024, reaching $1.58 billion, with significant growth in commercial real estate loans ($27.1 million) and construction loans ($25.1 million) offset by declines in residential and multifamily loans[5][27]. - Total deposits increased by $98.4 million, or 7.91%, to $1.34 billion compared to December 31, 2023, primarily driven by increases in time deposits and NOW and demand accounts[8][27]. - Deposits rose to $1,343.3 million at December 31, 2024, compared to $1,244.9 million at December 31, 2023[39]. - Total deposits reached $1,343,320 million, up from $1,244,904 million a year ago, indicating a growth of 7.9%[55]. Asset Quality - Non-performing loans to total loans remained low at 0.33%, with the allowance for credit losses covering non-performing loans by over 2.5 times[4][6]. - Non-performing loans totaled $5.1 million, or 0.33% of total loans at December 31, 2024, down from $5.9 million, or 0.38% at December 31, 2023[30]. - Non-performing loans decreased to $5,104,000 as of December 31, 2024, down from $6,208,000 a year earlier, indicating improved asset quality[43]. - The allowance for credit losses on loans was 0.83% of total loans at December 31, 2024, compared to 0.91% at December 31, 2023[30]. - The allowance for credit losses on loans to total loans ratio was 0.83% as of December 31, 2024, slightly down from 0.91% a year ago[43]. Interest Income and Margin - Interest income for the fourth quarter was $21.8 million, an increase of $253 thousand, or 1.2%, compared to the prior quarter[6]. - Total interest income for the three months ended December 31, 2024, was $21,785,000, an increase of 7.1% compared to $20,335,000 for the same period in 2023[41]. - Net interest income after the release of provision for credit losses was $9,774,000 for the three months ended December 31, 2024, compared to $9,040,000 for the same period in 2023, reflecting a 8.1% increase[41]. - The net interest margin increased by seven basis points to 1.89% in the fourth quarter of 2024 compared to the previous quarter[6][11]. - The net interest margin for the three months ended December 31, 2024, was 1.89%, up from 1.84% in the same period last year[47]. - The net interest rate spread for the three months ended December 31, 2024, was 1.40%, compared to 1.33% for the same period in 2023[48]. Shareholder Equity and Capital - Shareholders' equity decreased by $23.4 million to $332.2 million, primarily due to share repurchases costing $19.4 million[30]. - Total shareholders' equity as of December 31, 2024, was $337,320,000, a decrease from $357,275,000 on December 31, 2023[47]. - Tangible equity to tangible assets was 16.11% at December 31, 2024, down from 17.37% at December 31, 2023[30]. - Tangible equity decreased to $331,954 million from $355,083 million year-over-year, reflecting a decline of 6.5%[55]. - Book value per share remained stable at $14.75 as of December 31, 2024, compared to $14.51 a year earlier[43]. Borrowings and Assets - FHLB borrowings decreased by $58.0 million to $339.5 million, with deposit growth outpacing asset growth[30]. - Total assets increased to $2,060.7 million as of December 31, 2024, from $2,044.9 million at December 31, 2023[39]. - Total assets as of December 31, 2024, were $2,054,391,000, an increase from $2,042,561,000 on December 31, 2023[47]. - Total interest-bearing assets for the three months ended December 31, 2024, were $1,992,805,000, with a total interest income of $21,785,000, resulting in a yield of 4.37%[47].

RUTHERFORD, N.J., Jan. 29, 2025 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ:BLFY) (the “Company”), the holding company for Blue Foundry Bank (the “Bank”), reported a net loss of $11.9 million, or $0.55 per diluted common share, for the year ended December 31, 2024 compared to a net loss of $7.4 million, or $0.31 per diluted common share for the year ended December 31, 2023. The Company reported a net loss of $2.7 million, or $0.13 per diluted common share, for the three months ended December 31, 2024 c ...

RUTHERFORD, N.J., Jan. 15, 2025 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ:BLFY) (the "Company"), the holding company for Blue Foundry Bank, announced that on the morning of Wednesday, January 29, 2025 it will release financial results for the quarter ended December 31, 2024. A copy of the earnings release will be available on the Company's website, https://ir.bluefoundrybank.com/, in the "News" section and on the SEC's website, https://www.sec.gov/. Representatives of the Company will hold a conferen ...