BCB Bancorp has reported net earnings of $4.4 million for the year ended December 31, 2007, a decline of $1.13 million or 20.3% as compared to $5.6 million reported for the corresponding period in 2006.

According to BCB Bancorp, the decrease in net income resulted primarily from decreases in net interest income and non-interest income and an increase in non-interest expense, partially offset by decreases in the provision for loan losses, and income taxes.

BCB’s basic and diluted earnings per share were $0.92 and $0.90, respectively, for the period as compared to $1.11 and $1.08, respectively, for the same period last year.

Total assets increased by $52.7 million or 10.3% to $563.5 million at December 31, 2007 from $510.8 million in 2006, and loans receivable increased by $46.6 million or 14.6% to $364.7 million from $318.1 million in 2006. Deposit liabilities also improved by $16.1 million or 4.2% to $398.8 million in 2007 from $382.7 million for the corresponding period in 2006.

Donald Mindiak, president and CEO of BCB Bancorp, said: Both loan portfolio and balance sheet growth increased by double digit percentages during 2007 which was the driving force of recording interest income that was 10% greater than 2006. Project financing opportunities, while reduced slightly over previous years, still provides ample reason for optimism in our primary lending area.