BAYONNE, N.J., Sept. 08, 2017 (GLOBE NEWSWIRE) -- BCB Bancorp, Inc.(NASDAQ:BCBP), the parent holding company of BCB Community Bank, announced today the pricing of an underwritten public offering of 3,265,306 shares of the Company’s common stock at a price to the public of $12.25 per share for gross proceeds of approximately $40 million. The net proceeds to the Company, after deducting underwriting discounts and commissions, are expected to be approximately $37.9 million. The Company has granted the underwriters a 30-day option to purchase from the Company up to an additional 489,796 shares of its common stock.

Keefe, Bruyette & Woods, A Stifel Company, and D.A. Davidson & Co. are serving as joint book-running managers for the offering. Oppenheimer & Co. is acting as co-manager for the offering. The shares will be issued pursuant to an effective shelf registration statement on Form S-3 (File No. 333-219617) (including base prospectus) and a preliminary prospectus supplement previously filed with the Securities and Exchange Commission (the “SEC”). The Company intends to use the net proceeds from the offering for general corporate purposes, including maintaining liquidity, supporting core business growth, possible early retirement of debt, future acquisitions, funding working capital needs and maintaining the Company’s capital and liquidity ratios, and the ratios of the Bank, at acceptable levels. The Company expects to close the transaction, subject to customary conditions, on or about September 13, 2017.

About BCB Bancorp, Inc.

BCB Bancorp, Inc., is a New Jersey bank holding company headquartered in Bayonne, New Jersey, and is the parent company of BCB Community Bank, which commenced operations in 2000. The Bank operates through 22 branches in Bayonne, Carteret, Colonia, Edison, Fairfield, Hoboken, Holmdel, Jersey City, Lodi, Lyndhurst, Monroe Township, Rutherford, South Orange, Union, and Woodbridge, New Jersey and two branches in Staten Island, New York.