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Blue Foundry Bancorp's Business Segments
Blue Foundry Bancorp's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of FY
Reportable Segments
2
Largest Segment
Interchange income
Total Revenue
$ 47
Regions Reported
-
Revenue Share by Reportable Segment - FY
- Interchange income1.2%
- Service charges on deposits0.4%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Interchange income | $ 0 | 1.2% |
| Service charges on deposits | $ 0 | 0.4% |
Description of Blue Foundry Bancorp
Blue Foundry Bancorp is a financial services company headquartered in Rutherford, New Jersey. It operates as a holding company for Blue Foundry Bank, which provides a wide range of banking products and services to individuals, businesses, and communities in the state of New Jersey.
Blue Foundry Bancorp was established in 2019 as a result of the merger between Boiling Springs Savings Bank, founded in 1939, and Vantage Investment Partners. This merger brought together a community bank with a long-standing history of serving New Jersey residents and a financial services firm specializing in investment management and planning.
As a publicly traded company, Blue Foundry Bancorp is listed on the NASDAQ stock exchange under the ticker symbol BSMT. The bank's assets under management exceed $10 billion, making it one of the largest community banks in the state.
Blue Foundry Bank offers a comprehensive suite of financial products and services designed to meet the diverse needs of its customers. These include personal banking services such as checking and savings accounts, certificates of deposit, mortgage loans, home equity loans, and personal loans. The bank also provides services for businesses, including commercial lending, cash management, treasury services, merchant services, and business checking accounts.
In addition to traditional banking services, Blue Foundry Bank emphasizes its commitment to technology and innovation. It offers online and mobile banking platforms that allow customers to manage their accounts, make payments, deposit checks, and access other banking services from the convenience of their smartphones or computers. The bank also provides financial education resources and tools to help customers achieve their financial goals.
Blue Foundry Bank prides itself on its strong community involvement and commitment to corporate social responsibility. The bank supports numerous local charities, organizations, and community events through volunteer efforts, donations, and sponsorships. It actively engages in initiatives to promote financial literacy, affordable housing, economic development, and community empowerment.
Overall, Blue Foundry Bancorp is a well-established financial services company that combines a rich history, modern technology, and a strong commitment to serving the needs of individuals, businesses, and communities in New Jersey. Through its comprehensive range of banking products and services, the bank aims to foster financial success and improve the overall well-being of its customers and the communities it serves.
Blue Foundry Bancorp was established in 2019 as a result of the merger between Boiling Springs Savings Bank, founded in 1939, and Vantage Investment Partners. This merger brought together a community bank with a long-standing history of serving New Jersey residents and a financial services firm specializing in investment management and planning.
As a publicly traded company, Blue Foundry Bancorp is listed on the NASDAQ stock exchange under the ticker symbol BSMT. The bank's assets under management exceed $10 billion, making it one of the largest community banks in the state.
Blue Foundry Bank offers a comprehensive suite of financial products and services designed to meet the diverse needs of its customers. These include personal banking services such as checking and savings accounts, certificates of deposit, mortgage loans, home equity loans, and personal loans. The bank also provides services for businesses, including commercial lending, cash management, treasury services, merchant services, and business checking accounts.
In addition to traditional banking services, Blue Foundry Bank emphasizes its commitment to technology and innovation. It offers online and mobile banking platforms that allow customers to manage their accounts, make payments, deposit checks, and access other banking services from the convenience of their smartphones or computers. The bank also provides financial education resources and tools to help customers achieve their financial goals.
Blue Foundry Bank prides itself on its strong community involvement and commitment to corporate social responsibility. The bank supports numerous local charities, organizations, and community events through volunteer efforts, donations, and sponsorships. It actively engages in initiatives to promote financial literacy, affordable housing, economic development, and community empowerment.
Overall, Blue Foundry Bancorp is a well-established financial services company that combines a rich history, modern technology, and a strong commitment to serving the needs of individuals, businesses, and communities in New Jersey. Through its comprehensive range of banking products and services, the bank aims to foster financial success and improve the overall well-being of its customers and the communities it serves.
Blue Foundry Bancorp is a financial institution that operates primarily through its banking subsidiary, Blue Foundry Bank. The bank offers a variety of banking products and services catering to both individual customers and businesses. Below is an extensive description of the segments, products, and services provided by Blue Foundry Bancorp.
Consumer Banking
1. Personal Banking Accounts:
- Checking Accounts: Blue Foundry Bancorp provides a range of checking account options that typically include no monthly maintenance fees, online and mobile banking access, and features such as overdraft protection and mobile check deposit.
- Savings Accounts: Various types of savings accounts are available, including high-yield savings accounts that offer competitive interest rates to encourage saving.
- Certificates of Deposit (CDs): Fixed-term CDs with varying maturity options, allowing customers to earn interest at guaranteed rates.
2. Loans:
- Personal Loans: Unsecured personal loans for a variety of purposes, such as debt consolidation, home improvements, or unexpected expenses.
- Mortgages: A range of mortgage products, including fixed-rate and adjustable-rate mortgages, tailored for home purchases or refinancing.
- Home Equity Lines of Credit (HELOC): A line of credit secured by home equity that allows homeowners to borrow against the value of their homes.
- Auto Loans: Financing options for purchasing new or used vehicles, with competitive loan terms and rates.
3. Credit Cards:
- Blue Foundry Bancorp offers various credit card options with distinct benefits, such as cashback rewards, travel perks, and low interest rates.
Business Banking
1. Business Checking and Savings Accounts:
- Tailored checking and savings accounts designed for businesses, with features such as online banking, mobile deposit, and the ability to link multiple accounts.
2. Commercial Loans:
- Small Business Loans: Financing solutions designed to assist small businesses in covering operational costs, purchasing inventory, or funding growth initiatives.
- Commercial Real Estate Loans: Financing options for purchasing or refinancing commercial properties, catering to various real estate types and business needs.
- SBA Loans: Partnerships with the Small Business Administration to provide government-backed loans to eligible small businesses, promoting growth and sustainability.
3. Business Credit and Debit Cards:
- Credit and debit card options for businesses, offering financial flexibility and tools to manage expenses more effectively.
Digital Banking Services
1. Online and Mobile Banking:
- Users can manage their accounts through secure digital channels, enabling features like balance inquiries, transaction history, account transfers, and bill payment services.
2. Fintech Integrations:
- Collaborations with financial technology platforms provide innovative solutions, such as personal finance management tools, expense tracking, and more to enhance user experience.
3. Payment Solutions:
- Services allowing businesses to process payments efficiently, which may include point-of-sale systems, ecommerce solutions, and mobile payment options.
Wealth Management
1. Investment Services:
- Advisory services that assist customers in building and managing their investment portfolios, tailored to individual risk tolerances and financial goals.
2. Retirement Planning:
- Services aimed at helping individuals plan for their retirement through IRAs (Individual Retirement Accounts) and other investment vehicles.
3. Insurance Products:
- Offering life insurance, disability insurance, and other financial products to protect against unforeseen circumstances and ensure comprehensive financial planning.
Community Engagement
Blue Foundry Bancorp places emphasis on community involvement and development. It may offer financial education programs, support local businesses through community lending initiatives, and participate in charitable activities to fortify its relationships within the communities it serves.
Technology and Innovation
Blue Foundry Bancorp may prioritize technology-driven solutions, investing in systems and applications to enhance customer experience, streamline operations, and promote security for all transactions.
Conclusion
Blue Foundry Bancorp presents a comprehensive suite of banking products and services that cater to consumer and business needs, underpinned by a commitment to community engagement and technological innovation. Whether for personal banking or business solutions, Blue Foundry Bancorp aims to deliver competitive products while fostering relationships with its customers and communities.
Consumer Banking
1. Personal Banking Accounts:
- Checking Accounts: Blue Foundry Bancorp provides a range of checking account options that typically include no monthly maintenance fees, online and mobile banking access, and features such as overdraft protection and mobile check deposit.
- Savings Accounts: Various types of savings accounts are available, including high-yield savings accounts that offer competitive interest rates to encourage saving.
- Certificates of Deposit (CDs): Fixed-term CDs with varying maturity options, allowing customers to earn interest at guaranteed rates.
2. Loans:
- Personal Loans: Unsecured personal loans for a variety of purposes, such as debt consolidation, home improvements, or unexpected expenses.
- Mortgages: A range of mortgage products, including fixed-rate and adjustable-rate mortgages, tailored for home purchases or refinancing.
- Home Equity Lines of Credit (HELOC): A line of credit secured by home equity that allows homeowners to borrow against the value of their homes.
- Auto Loans: Financing options for purchasing new or used vehicles, with competitive loan terms and rates.
3. Credit Cards:
- Blue Foundry Bancorp offers various credit card options with distinct benefits, such as cashback rewards, travel perks, and low interest rates.
Business Banking
1. Business Checking and Savings Accounts:
- Tailored checking and savings accounts designed for businesses, with features such as online banking, mobile deposit, and the ability to link multiple accounts.
2. Commercial Loans:
- Small Business Loans: Financing solutions designed to assist small businesses in covering operational costs, purchasing inventory, or funding growth initiatives.
- Commercial Real Estate Loans: Financing options for purchasing or refinancing commercial properties, catering to various real estate types and business needs.
- SBA Loans: Partnerships with the Small Business Administration to provide government-backed loans to eligible small businesses, promoting growth and sustainability.
3. Business Credit and Debit Cards:
- Credit and debit card options for businesses, offering financial flexibility and tools to manage expenses more effectively.
Digital Banking Services
1. Online and Mobile Banking:
- Users can manage their accounts through secure digital channels, enabling features like balance inquiries, transaction history, account transfers, and bill payment services.
2. Fintech Integrations:
- Collaborations with financial technology platforms provide innovative solutions, such as personal finance management tools, expense tracking, and more to enhance user experience.
3. Payment Solutions:
- Services allowing businesses to process payments efficiently, which may include point-of-sale systems, ecommerce solutions, and mobile payment options.
Wealth Management
1. Investment Services:
- Advisory services that assist customers in building and managing their investment portfolios, tailored to individual risk tolerances and financial goals.
2. Retirement Planning:
- Services aimed at helping individuals plan for their retirement through IRAs (Individual Retirement Accounts) and other investment vehicles.
3. Insurance Products:
- Offering life insurance, disability insurance, and other financial products to protect against unforeseen circumstances and ensure comprehensive financial planning.
Community Engagement
Blue Foundry Bancorp places emphasis on community involvement and development. It may offer financial education programs, support local businesses through community lending initiatives, and participate in charitable activities to fortify its relationships within the communities it serves.
Technology and Innovation
Blue Foundry Bancorp may prioritize technology-driven solutions, investing in systems and applications to enhance customer experience, streamline operations, and promote security for all transactions.
Conclusion
Blue Foundry Bancorp presents a comprehensive suite of banking products and services that cater to consumer and business needs, underpinned by a commitment to community engagement and technological innovation. Whether for personal banking or business solutions, Blue Foundry Bancorp aims to deliver competitive products while fostering relationships with its customers and communities.