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Bayonne Community Bank Ranks First Among
New Community Banks in Performance Review
o Investment banking firm review puts Bayonne Community Bank first
in key categories
o Bayonne Community Bank a standout among recently formed New
Jersey community banks
o Superiority cited in business growth and financial performance
Bayonne, N.J. (April 7, 2004) -- A study of public data found that Bayonne
Community Bank surpassed its peer group in major performance areas including
growth and profitability.
The study of comparable data in several categories was conducted by FinPro,
Inc., a Liberty Corner, New Jersey, investment banking and management consulting
firm specializing in providing advisory services to the financial services
industry. FinPro, Inc. has acted as an advisor to BCB Bancorp, Inc. and Bayonne
Community Bank.
The findings of the FinPro review highlight three conclusions:
>> "Bayonne Community Bank's financial performance has far exceeded peer
levels"
>> "Bayonne Community Bank's growth within the City of Bayonne has been
strong"
>> "Bayonne Community Bank's stock price has substantially outperformed
the relevant market indices"
The firm analyzed the performance of 12 other "de novo" community banks that
began operations in New Jersey within one year of Bayonne Community Bank on the
basis of growth, revenues and profitability. On the basis of growth, Bayonne
Community Bank ranked first in total assets, first in loans (net), and second in
total deposits. For the year ended in December 31, 2003, it ranked first in
three major categories: interest income, net interest income and net income.
Bayonne Community Bank also ranked first in return on average assets, return on
average equity, and efficiency ratio, which are key measures of operational
performance.
"We are extremely pleased with the results of FinPro's review," said Donald
Mindiak, President and CEO of BCB Bancorp, Inc. "This data confirms and supports
our market research that there is a need for personal service in banking and
that there is a solid growth market for these services in the Bayonne
community."
"When you combine a good market with an exceptional group of banking executives,
you have a winning combination," said Mark Hogan, chairman of the Board of BCB
Bancorp, Inc. "From the Board's perspective, two of the key measurements in
which we gauge the effectiveness of our management team are the quality of the
people they attract to manage our banking operations and their effectiveness in
gaining market share. In three short years, Bayonne Community Bank has increased
its share of the Bayonne deposit market from 5% to16%. It is a remarkable
achievement, and we look forward to building on this success in serving our
customers in Bayonne."
Bayonne Community Bank is a wholly-owned subsidiary of BCB Bancorp, Inc.
(OTCBB:BCBP).
About FinPro
FinPro, Inc. was established in 1987 as an investment banking and management
consulting firm specializing in providing advisory services to the financial
services industry.
FinPro, Inc. has consented to having its findings summarized in this news
release.
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