BCB Bancorp Issues Series K Preferred Stock in Private Placement

BCB Bancorp, Inc. recently announced the issuance of 497 shares of its Series K Noncumulative Perpetual Preferred Stock in a private placement, as disclosed in a Form 8-K filing with the Securities and Exchange Commission on December 31, 2024. The gross proceeds from this issuance totaled $4,970,000, with each share priced at $10,000.00.

This particular round of shares marks the first issuance in the Company’s private placement of Series K Preferred Stock. The shares were sold under an exemption from registration with the SEC as provided under SEC Rule 506 of Regulation D.

The sale of the Series K Preferred Stock represents 20.1% of the overall gross proceeds from the Company’s total issued and outstanding Noncumulative Perpetual Preferred Stock. The private placement signifies a strategic move for BCB Bancorp, allowing it to raise capital through the issuance of preferred stock.

Ryan Blake, the Executive Vice President and Chief Operating Officer of BCB Bancorp, duly authorized the filing on behalf of the Company on January 6, 2025. Through this private placement, BCB Bancorp aims to fortify its financial standing and pursue strategic initiatives in line with its business objectives.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read BCB Bancorp’s 8K filing here.

BCB Bancorp Company Profile

BCB Bancorp, Inc operates as a bank holding company for BCB Community Bank that engages in the provision of banking products and services to businesses and individuals in the United States. The company offers insured deposit products, including savings and club accounts, interest and non-interest-bearing demand accounts, money market accounts, certificates of deposit, and individual retirement accounts.