Northfield Banco Stock Price, News & Analysis

NORTHFIELD BANCORP, INC. (Nasdaq:NFBK) has appointed Gualberto (Gil) Medina as a director for both the Company and Northfield Bank. Chairman Steven M. Klein expressed confidence in Medina’s diverse skills and community contributions, which are expected to bolster the Company's growth. Medina, an Executive Vice President at CBRE Group, Inc., brings extensive experience as a licensed real estate professional, former Secretary of Commerce for New Jersey, attorney, and CPA. He holds a J.D. from Temple University and an undergraduate degree from Rutgers University.

NORTHFIELD BANCORP, INC. (Nasdaq:NFBK) reported diluted earnings per share of $0.33 for Q3 2021, compared to $0.40 in Q2 2021 and $0.17 a year earlier. Net interest margin rose to 2.99%, up from 2.96% in Q2 2021 and 2.50% in Q3 2020. Total loans increased by $59.4 million, a 6.5% annualized growth, while deposits grew by $98.8 million, or 9.9% annualized. The Board declared a cash dividend of $0.13 per share. As of September 30, 2021, non-performing loans were at 0.20%, showing strong credit quality. Total assets decreased to $5.40 billion from $5.51 billion at year-end 2020.

NORTHFIELD BANCORP, INC. reported a diluted EPS of $0.40 for Q2 2021, a 5% increase from Q1 2021 and a 73% rise year-over-year. Net interest income rose by $8.5 million, or 28%, from Q2 2020, thanks to a strong increase in interest-earning assets. Non-performing loans fell to 0.23%. The company repurchased 900,771 shares totaling $14.7 million and declared a cash dividend of $0.13 per share. Total assets decreased to $5.43 billion, driven by a drop in loans and debt securities. Northfield's CBLR ratio stood at 12.77%, indicating a strong capital position despite economic uncertainties.

Northfield Bancorp (Nasdaq:NFBK) reported a 46% increase in diluted earnings per share to $0.38 for Q1 2021, up from $0.26 the previous quarter and $0.10 a year earlier. Net interest income rose $3.1 million (8.5%) and $10.2 million (34.2%) compared to prior periods, with net interest margin increasing 27 basis points to 3.10%. The company declared an 18.2% cash dividend increase to $0.13 per share. Total assets grew 1.1% to $5.58 billion as of March 31, 2021, with net loans up 11.5% annualized.

NORTHFIELD BANCORP, INC. (NasdaqGS: NFBK) announced that John W. Alexander will retire from the Board after the Annual Meeting of Stockholders on May 26, 2021. Steven M. Klein will succeed him as Chairman. Annette Catino, Lead Independent Director, praised Alexander's record and emphasized the company's strong succession plan. Klein expressed gratitude for Alexander's leadership and looks forward to a smooth transition. The Board also approved reducing its size to nine members following the retirement.

NORTHFIELD BANCORP reported a diluted earnings per share of $0.26 for Q4 2020, up from $0.21 in Q4 2019. Full-year earnings per share were $0.76. The increase in quarterly earnings was driven by a 30.1% rise in net interest income, totaling $37 million. However, expenses included $1.6 million in occupancy costs and $3.3 million in merger-related expenses. The net interest margin improved to 2.83%. The company declared a cash dividend of $0.11 per share for distribution on February 24, 2021.

Northfield Bank announced its participation in the new round of the Paycheck Protection Program (PPP) aimed at assisting small businesses, particularly those with 10 or fewer employees and those in low-to-moderate income areas. Since the PPP's inception, Northfield has originated nearly $150 million in loans for over 1,400 businesses, supporting more than 10,000 employees. Northfield will utilize its dedicated teams to help navigate the application process, with applications opening after the Small Business Administration releases new guidelines.

Northfield Bancorp reported diluted earnings per share of $0.17 for Q3 2020, down from $0.23 in Q2 2020 and $0.28 in Q3 2019. This reflects a net decrease of $0.06 per share due to $3.9 million in merger-related expenses from the acquisition of VSB Bancorp. Net interest income increased 7.9% from Q2 2020. Total assets rose 10.6% to $5.59 billion as of September 30, 2020. The bank declared a cash dividend of $0.11 per share, payable on November 25, 2020. Stock repurchase program reinstated for 1.45 million shares.

Northfield Bank announced the retirement of Michael J. Widmer, Executive Vice President of Operations, effective October 2020. With over 35 years in community banking, Widmer has been with Northfield since its acquisition of Liberty Bank in 2002. His leadership has significantly contributed to the bank's growth. CEO Steven M. Klein expressed gratitude for Widmer's dedication and noted his agreement to delay retirement until mid-September to assist with the conversion of systems related to the recent acquisition of Victory State Bank. Northfield Bank operates 43 branches across New York and New Jersey.