BCB Bancorp Inc. in Bayonne, N.J., said its full-year earnings rose 18% from a year earlier, to $5.6 million.
Diluted earnings per share fell 10%, to $1.08, BCB said Friday. It did not break out numbers for the fourth quarter.
The $511 million-asset parent of Bayonne Community Bank said its net income improved mainly because of increases in net interest income and noninterest income and a decrease in the loan-loss provision. However, it did not provide details on any of those items, except for net interest income, which increased 11.9%, to $17.8 million.
The cost of deposits outpaced the yield on assets, so the net interest margin dropped 26 basis points, to 3.69%, BCB said.
Donald Mindiak, the company's president and chief executive officer, said in a press release that it would open a branch in Hoboken this quarter, raising its total to four branches.
