BAYONNE, N.J., Dec. 16, 2020 (GLOBE NEWSWIRE) -- BCB Bancorp, Inc., (NASDAQ: BCBP), the holding company for BCB Community Bank, today announced that it has completed the final issuance of its Series H preferred stock. Over the last seven months, the Company issued a total of $11.2 million of Series H 3.5% preferred stock over three rounds. Additionally, the Company redeemed $10.2 million of its preferred stock during the third quarter of 2020, which included the Company’s Series C 6% and Series F 6% preferred stock.

“As a result of these strategic transactions, we have further strengthened our capital position, and our dividend costs have been reduced,” said Thomas Coughlin, President and Chief Executive Officer. “Overall, we anticipate saving approximately $55,000 in dividend costs per quarter.”

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 31 branch offices in Bayonne, Carteret, Colonia, Edison, Hoboken, Fairfield, Holmdel, Jersey City, Lodi, Lyndhurst, Maplewood, Monroe Township, Newark, Parsippany, Plainsboro, River Edge, Rutherford, South Orange, Union, and Woodbridge, New Jersey, and three branches in Hicksville and Staten Island, New York. The Bank provides businesses and individuals a wide range of loans, deposit products, and retail and commercial banking services. For more information, please go to www.bcb.bank.