BCB Bancorp Names Turnaround Specialist Thomas O'Brien CEO

BCB Bancorp is a community bank holding company based in Bayonne, New Jersey, with about $3.2 billion in assets. Its BCB Community Bank subsidiary posted a full-year 2025 loss of $12.5 million as exposure to cannabis-related real estate and commercial loans deteriorated. The board recruited Thomas O'Brien, who has previously turned around and sold five banks, to repair credit quality and restore market confidence.

BCB Bancorp appointed O'Brien president and CEO of both the company and BCB Community Bank on June 1, 2026, and named him to both boards. The bank recorded a $15.1 million pre-tax impairment on cannabis-related real estate and $16.3 million in net charge-offs in the fourth quarter of 2025. O'Brien will conduct a 90-day review and is expected to outline a turnaround plan by the third quarter. The shares rose as much as about 10% after the announcement.