BAYONNE, N.J., Feb. 26, 2019 (GLOBE NEWSWIRE) -- BCB Bancorp, Inc. (NASDAQ: BCBP), the holding company for BCB Community Bank, announced that on February 25, 2019 it completed a private placement offering of 496,224 shares of common stock, at an issuance price of $12.64, which was the Company’s closing share price on February 22, 2019. Directors and insiders purchased 286,244 shares or approximately 58% of the offering. Gross proceeds from the offering are $6.3 million. In January 2019 the Company completed a $5.2 million preferred offering.

“The success of this capital raise reflects continued confidence in our company,” stated Thomas Coughlin, President and Chief Executive Officer. “This additional capital, coupled with the proceeds from our preferred offering last month, will enhance our strategic capabilities to grow our franchise and support the needs of our customers.”

The Company expects to use the proceeds from the capital raise for general corporate purposes, including but not limited to supporting organic growth and facilitating potential expansion opportunities.

About BCB Bancorp, Inc.

Established in 2000 and headquartered in Bayonne, N.J., BCB Community Bank is the wholly-owned subsidiary of BCB Bancorp, Inc. (NASDAQ: BCBP). The Bank has 28 branch offices in Bayonne, Carteret, Colonia, Edison, Hoboken, Fairfield, Holmdel, Jersey City, Lodi, Lyndhurst, Maplewood, Monroe Township, Parsippany, Plainsboro, Rutherford, South Orange, Union, and Woodbridge, New Jersey, three branches in Hicksville and Staten Island, New York, and a loan production office in Manhattan. The Bank provides business and individuals a wide range of loans, deposit products, and retail and commercial banking services. For more information, please go to www.bcb.bank.