XML 54 R39.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Benefits Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Benefits Plans [Abstract] |
Pension Plan's Funded Status and Components of Net Periodic Pension Cost |
Change in Benefit Obligation: | December 31,
|  | 2024 |  |  | 2023 |  |  | 2022
| (In Thousands)
Benefit obligation, beginning of year | $ | 4,802 |  | $ | 4,935 |  | $ | 6,492
Interest cost |  | 224 |  |  | 238 |  |  | 178
Actuarial gain (1) |  | (256) |  |  | (25) |  |  | (1,362)
Benefits paid |  | (363) |  |  | (346) |  |  | (363)
Lump sum distributions |  | (179) |  |  | - |  |  | (10)
Benefit obligation, ending | $ | 4,228 |  | $ | 4,802 |  | $ | 4,935
Change in Plan Assets: |  |  |  |  |  |  |  |
Fair value of assets, beginning of year | $ | 6,012 |  | $ | 5,965 |  | $ | 7,144
Actual return on plan assets |  | 612 |  |  | 393 |  |  | (806)
Benefits paid |  | (363) |  |  | (346) |  |  | (363)
Lump sum distributions |  | (179) |  |  | - |  |  | (10)
Fair value of assets, ending | $ | 6,082 |  | $ | 6,012 |  | $ | 5,965
Fair value of assets | $ | 6,082 |  | $ | 6,012 |  | $ | 5,965
Projected benefit obligation |  | 4,228 |  |  | 4,802 |  |  | 4,935
Funded status, included in other assets, net | $ | 1,854 |  | $ | 1,210 |  | $ | 1,030
Valuation assumptions used to determine benefit obligation at period end: |  |  |  |  |  |  |  |
Discount rate |  | 5.54% |  |  | 4.83% |  |  | 5.02%
Salary increase rate |  | N/A |  |  | N/A |  |  | N/A
(1) Actuarial gain comes about when the actual plan results are more favorable than the actuarial assumptions used to perform the calculations. The primary actuarial assumptions used are interest and mortality as well as the rate of return on the plan assets. Differences between expected and actual results in each year are included in the net actuarial gain.
Net Periodic Pension and SERP Expense |
Net Periodic Pension Expense: | December 31,
|  | 2024 |  |  | 2023 |  |  | 2022
| (In Thousands)
Interest cost | $ | 224 |  | $ | 238 |  | $ | 178
Expected return on assets |  | (350) |  |  | (346) |  |  | (417)
Amortization of net loss |  | - |  |  | 55 |  |  | 66
Net periodic pension benefit | $ | (126) |  | $ | (53) |  | $ | (173)
Valuation assumptions used to determine net periodic benefit for the year: |  |  |  |  |  |  |  |
Discount rate |  | 4.83% |  |  | 5.02% |  |  | 2.83%
Long term rate of return on plan assets |  | 6.00% |  |  | 6.00% |  |  | 6.00%
Salary increase rate |  | N/A |  |  | N/A |  |  | N/A
Asset Allocation Parameters by Asset Class |
Asset Allocation Parameters by Asset Class
| Minimum | Target | Maximum
Equity |  |  |
Large-Cap U.S. |  | 42% |
Mid/Small-Cap U.S. |  | 11% |
Non-U.S. |  | 26% |
Total-Equity | 40% | 55% | 60%
Fixed Income |  |  |
Long/Short Duration |  | 43% |
Money Market/Certificates of Deposit |  | 2% |
Total-Fixed Income | 40% | 45% | 60%
Schedule of Fair Value of Plan Assets | The fair values of the Pension Plan assets at December 31, 2024, by asset category (see Note 2 for the definitions of levels), are as follows (In Thousands):
Asset Category |  | Total |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3)
Mutual funds-Equity |  |  |  |  |  |  |  |  |  |  |
Large-Cap Value (a) | $ | 1,035 |  | $ | 1,035 |  | $ | - |  | $ | -
Large-Cap Growth (b) |  | - |  |  | - |  |  | - |  |  | -
Diversified Emerging Markets (f) |  | 88 |  |  | 88 |  |  | - |  |  | -
Large Blend (d) |  | 1,253 |  |  | 1,253 |  |  | - |  |  | -
Technology (g) |  | 168 |  |  | 168 |  |  | - |  |  | -
Mutual Funds-Fixed Income |  |  |  |  |  |  |  |  |  |  |
Long Government (h) |  | 38 |  |  | 38 |  |  | - |  |  | -
Multi-Sector Bond (c) |  | 1,181 |  |  | 1,181 |  |  | - |  |  | -
High Yield Bond (e) |  | 622 |  |  | 622 |  |  | - |  |  | -
Intermediate Core Bond (i) |  | 595 |  |  | 595 |  |  |  |  |  |
BCB Common Stock |  | 590 |  |  | 590 |  |  | - |  |  | -
Cash Equivalents |  |  |  |  |  |  |  |  |  |  |
Money Market |  | 512 |  |  | 512 |  |  | - |  |  | -
Total | $ | 6,082 |  | $ | 6,082 |  | $ | - |  | $ | -
The fair values of the Company’s pension plan assets at December 31, 2023, by asset category (see Note 2 for the definitions of levels), are as follows (In Thousands):
Asset Category |  | Total |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3)
Mutual funds-Equity |  |  |  |  |  |  |  |  |  |  |
Large-Cap Value (a) | $ | 1,120 |  | $ | 1,120 |  | $ | - |  | $ | -
Large-Cap Growth (b) |  | 261 |  |  | 261 |  |  | - |  |  | -
Diversified Emerging Markets (f) |  | 95 |  |  | 95 |  |  | - |  |  | -
Large Blend (d) |  | 1,025 |  |  | 1,025 |  |  | - |  |  | -
Technology (g) |  | 137 |  |  | 137 |  |  | - |  |  | -
Mutual Funds-Fixed Income |  |  |  |  |  |  |  |  |  |  |
Long Government (h) |  | 46 |  |  | 46 |  |  | - |  |  | -
Multi-Sector Bond (c) |  | 1,244 |  |  | 1,244 |  |  | - |  |  | -
High Yield Bond (e) |  | 648 |  |  | 648 |  |  | - |  |  | -
Intermediate Core Bond (i) |  | 656 |  |  | 656 |  |  | - |  |  | -
BCB Common Stock |  | 666 |  |  | 666 |  |  | - |  |  | -
Cash Equivalents |  |  |  |  |  |  |  |  |  |  |
Money Market |  | 114 |  |  | 114 |  |  | - |  |  | -
Total | $ | 6,012 |  | $ | 6,012 |  | $ | - |  | $ | -
a)Large Cap value portfolios invest primarily in big U.S. companies that are less expensive or growing more slowly than other large-cap stocks. Stocks in the top 70 percent of the capitalization of the U.S. equity market are defined as large cap. Value is defined based on low valuations (low price ratios and high dividend yields) and slow growth (low growth rates for earnings, sales, book value, and cash flow). b)Large Cap Growth Stocks of large cap companies that are projected to grow faster than other large cap stocks. Stocks in the top 70% of the capitalization of the U.S. equity market defined as large cap. Growth is defined based on fast growth (high growth rates for earnings, sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields). c)Multi Sector portfolios seek income by diversifying their assets among several fixed-income sectors, usually U.S. government obligations, foreign bonds, and high-yield domestic debt securities. d)This fund invests in 500 of the largest U.S. companies, which span many different industries and account for about three-fourths of the U.S. Stock Markets value. e)High Yield Bond funds invest at least 65 percent of assets in bonds rated below BBB. This fund seeks to provide shareholders with a high level of current income with capital growth as a secondary objective. f)The fund invests at least 80% of the value of its assets in equity securities and equity related instruments that are tied economically to emerging markets. g)The fund normally invests at least 80% of the fund’s net assets in securities of issuers principally engaged in offering, using or developing products, processes or services that will provide or benefit significantly from technological advances and improvements. h)The fund normally invests at least 80% of assets in securities included in the Bloomberg Barclays U.S. Long Treasury Bond Index. i)Intermediate term core bond portfolios invest primarily in investment grade U.S. fixed-income issues including government, corporate, and securitized debt, and hold less than 5% in below-investment grade exposures.
Expected Benefit Payments |
2025 | $ | 374
2026 |  | 373
2027 |  | 374
2028 |  | 371
2029 |  | 361
2030-2034 |  | 1,619
Schedule of Share-Based Compensation Expense |
| Years Ended December 31,
|  | 2024 |  |  | 2023 |  |  | 2022
Stock Option Expense | $ | 128 |  | $ | 133 |  | $ | 216
Restricted Stock Expense |  | 639 |  |  | 460 |  |  | 916
Total share-based compensation expense | $ | 767 |  | $ | 593 |  | $ | 1,132
Summary of Status of Restricted Shares |
| Number of Shares Awarded |  |  | Weighted Average Grant Date Fair Value
Non-vested at December 31, 2023 | 86,752 |  |  | $ 14.98
Granted | 50,000 |  |  | 9.44
Vested | (50,227) |  |  | 13.85
Forfeited | (1,725) |  |  | 14.92
Non-vested at December 31, 2024 | 84,800 |  |  | $ 12.38
Summary of Stock Option Activity |
|  | Number of Options |  |  | Range of Exercise Price |  |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  |  | Aggregate Intrinsic Value (000's)
Outstanding at January 1, 2023 |  | 1,036,975 |  | $ | 9.03-13.68 |  | $ | 11.72 |  | 4.47 |  | $ | 6,502
Options forfeited |  | - |  |  | - |  |  | - |  | - |  |  | -
Options exercised (1) |  | (61,000) |  |  | 9.03 |  |  | 9.03 |  | - |  |  | -
Options granted |  | - |  |  | - |  |  | - |  | - |  |  | -
Options expired |  | - |  |  | - |  |  | - |  | - |  |  | -
Outstanding at December 31, 2023 |  | 975,975 |  | $ | 10.55-13.68 |  | $ | 11.89 |  | 3.83 |  | $ | 984
Options forfeited |  | - |  |  | - |  |  | - |  | - |  |  | -
Options exercised (2) |  | (2,000) |  |  | 12.19 |  |  | 12.19 |  | - |  |  | -
Options granted |  | - |  |  | - |  |  | - |  | - |  |  | -
Options expired |  | (80,000) |  |  | 13.32 |  |  | 13.32 |  | - |  |  | -
Outstanding at December 31, 2024 |  | 893,975 |  | $ | 10.55-13.68 |  | $ | 11.76 |  | 3.16 |  | $ | 355
Exercisable at December 31, 2024 |  | 799,955 |  |  |  |  |  |  |  |  |  |  |
(1) Includes 9,628 cashless exercise of options during 2023. (2) Includes 2,000 cashless exercise of options during 2024.

X
- Definition Tabular disclosure of the fair value of plan assets by asset category, including the associated fair value hierarchy level. + References No definition available. + Details
Name: | bcbp_ScheduleOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | bcbp_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (a)(b)(c) -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration