CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY (Tables)

12 Months Ended

Dec. 31, 2025

The condensed financial statements of Blue Foundry Bancorp (parent company only) are presented below:


Condensed Balance Sheets
		December 31, 2025		December 31, 2024
	(In thousands)
Assets:
Cash and cash equivalents		$	23,304	$	41,297
Investment in banking subsidiary		269,659		270,904
ESOP loan receivable		19,256		19,932
Other investments		520		226
Other assets		284		446
Total Assets		$	313,023	$	332,805
Liabilities and Stockholders’ Equity:
Total liabilities		$	282	$	607
Total stockholders’ equity		312,741		332,198
Total Liabilities and Stockholders’ Equity		$	313,023	$	332,805


Condensed Statements of Comprehensive Loss
		Year Ended December 31,
		2025		2024
	(In thousands)
Income:
Interest on ESOP loan receivable		$	648	$	669

Total income		648		669
Expenses:


Other expenses		4,511		3,411
Total expenses		4,511		3,411
Loss before income tax benefit		(3,863)		(2,742)
Income tax benefit		—		—
Loss before undistributed earnings of subsidiary		(3,863)		(2,742)
Equity in undistributed earnings of banking subsidiary		(6,162)		(9,169)
Net loss		$	(10,025)	$	(11,911)

Comprehensive loss:
Net loss	$	$	(10,025)	$	(11,911)
Other comprehensive income		2,883		3,926
Comprehensive loss	$	$	(7,142)	$	(7,985)


Condensed Statements of Cash Flows
		Year Ended December 31,
		2025		2024
	(In thousands)
Cash flows from operating activities:
Net loss	$	$	(10,025)	$	(11,911)
Adjustments to reconcile net loss to net cash provided by operating activities:
Equity in undistributed earnings of subsidiary		6,162		9,169


ESOP and stock-based compensation expense		1,291		1,327
Decrease in other assets		93		63
Decrease in other liabilities		(383)		(290)
Net cash used by operating activities		(2,862)		(1,642)

Cash flows from investing activities:

Purchase of other investments		(225)		(150)

Repayment of ESOP loan		676		656
Net cash provided by investing activities		451		506

Cash flows from financing activities:
Issuance of common stock		667		498
Purchase of treasury stock		(16,270)		(19,423)
Proceeds from exercised options		21		—
Net cash used in financing activities		(15,582)		(18,925)
Net decrease in cash and cash equivalents		(17,993)		(20,061)
Cash and cash equivalents at beginning of year		41,297		61,358
Cash and cash equivalents at end of year	$	$	23,304	$	41,297