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Blue Foundry Bancorp (Blue Foundry Bancorp) Effective Interest Rate on Debt % : 10.43% (As of Dec. 2023)


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What is Blue Foundry Bancorp Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Blue Foundry Bancorp's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $44.56 Mil. Blue Foundry Bancorp's average total debt for the quarter that ended in Dec. 2023 was $427.12 Mil. Therefore, Blue Foundry Bancorp's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 10.43%.


Blue Foundry Bancorp Effective Interest Rate on Debt % Historical Data

The historical data trend for Blue Foundry Bancorp's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Blue Foundry Bancorp Effective Interest Rate on Debt % Chart

Blue Foundry Bancorp Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23
Effective Interest Rate on Debt %
7.38 6.92 4.62 3.84 9.76

Blue Foundry Bancorp Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.62 6.99 8.07 9.61 10.43

Competitive Comparison of Blue Foundry Bancorp's Effective Interest Rate on Debt %

For the Banks - Regional subindustry, Blue Foundry Bancorp's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Blue Foundry Bancorp's Effective Interest Rate on Debt % Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Blue Foundry Bancorp's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Blue Foundry Bancorp's Effective Interest Rate on Debt % falls into.



Blue Foundry Bancorp Effective Interest Rate on Debt % Calculation

Blue Foundry Bancorp's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Dec. 2022 )+Total Debt  (A: Dec. 2023 ))/ count )
=-1  *  -37.186/( (337.824+424.277)/ 2 )
=-1  *  -37.186/381.0505
=9.76 %

where

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=337.824 + 0
=337.824

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=424.277 + 0
=424.277

Blue Foundry Bancorp's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Sep. 2023 )+Total Debt  (Q: Dec. 2023 ))/ count )
=-1  *  -44.556/( (429.966+424.277)/ 2 )
=-1  *  -44.556/427.1215
=10.43 %

where

Total Debt  (Q: Sep. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=429.966 + 0
=429.966

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=424.277 + 0
=424.277

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


Blue Foundry Bancorp  (NAS:BLFY) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


Blue Foundry Bancorp Effective Interest Rate on Debt % Related Terms

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Blue Foundry Bancorp (Blue Foundry Bancorp) Business Description

Industry
Traded in Other Exchanges
N/A
Address
19 Park Avenue, Rutherford, NJ, USA, 07070
Blue Foundry Bancorp is a full-service bank. Its business consists of originating one-to-four-family residential, multi-family, and non-residential real estate mortgages, home equity loans and lines of credit, construction, and commercial and industrial loans. It attracts retail deposits from the general public in the areas surrounding its banking offices, through its borrowers, and through its online presence, offering a wide variety of deposit products. The bank also invests in securities. Its revenues are derived from interest on loans and, to a lesser extent, interest on mortgage-backed and other investment securities. The company's sources of funds are deposits, principal, and interest payments on loans, securities, and borrowings from the Federal Home Loan Bank of New York.
Executives
James Christopher Ely director 19 PARK AVENUE, RUTHERFORD NJ 07070
Jonathan M. Shaw director 19 PARK AVENUE, RUTHERFORD NJ 07070
Elizabeth Varki Jobes director 640 LEE ROAD, CHESTERBROOK PA 19087
Robert Thomas Goldstein director 19 PARK AVENUE, RUTHERFORD NJ 07070
Kenneth Grimbilas director 19 PARK AVENUE, RUTHERFORD NJ 07070
Jason M. Goldberg officer: EVP and Chief Lending Officer 19 PARK AVENUE, RUTHERFORD NJ 07070
James D Nesci director, officer: President and CEO 830 BERGEN AVENUE, JERSEY CITY NJ 07306
Robert Rowe officer: EVP and Chief Risk Officer C/O CIT GROUP INC., ATTN:GENERAL COUNSEL, 1 CIT DRIVE, LIVINGSTON NJ 07039
Patrick H. Kinzler director 19 PARK AVENUE, RUTHERFORD NJ 07070
Margaret Letsche director 19 PARK AVENUE, RUTHERFORD NJ 07070
Kelly Pecoraro officer: EVP and CFO 19 PARK AVENUE, RUTHERFORD NJ 07070
Alexander Agnoletto officer: Controller and Interim CFO 19 PARK AVENUE, RUTHERFORD NJ 07070
Brent Michael Ciurlino officer: EVP and CCO 19 PARK AVENUE, RUTHERFORD NJ 07070
Elizabeth Marie Miller officer: EVP and CRO 19 PARK AVENUE, RUTHERFORD NJ 07070
Aleksander Malkiman officer: EVP and Chief Tech Officer 19 PARK AVENUE, RUTHERFORD NJ 07070

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