Welcome to our dedicated page for Northfield Banco news (Ticker: NFBK), a resource for investors and traders seeking the latest updates and insights on Northfield Banco stock.
Northfield Bancorp, Inc. reports recurring developments as the holding company for Northfield Bank, a banking business serving customers in New York and New Jersey. Company news centers on quarterly operating results, deposit gathering, loan balances, net interest income, net interest margin, funding costs and asset-quality measures across multifamily, commercial real estate, commercial and industrial, home equity, construction and land lending.
Updates also cover credit-loss provisions, nonperforming loans, liquidity, branch activity, cash dividends, stock repurchases and other capital-management actions. Corporate news may include material agreements, shareholder voting and governance matters tied to strategic transactions while the company remains anchored in its bank holding company operations.
Northfield Bancorp reported a net income of $17.0 million, or $0.37 per diluted share, for Q3 2022, marking an increase from $15.9 million in the previous quarter and $16.1 million in Q3 2021. The net interest income rose to $42.0 million, attributed to a 5 basis point increase in the net interest margin to 3.08%. Loans held-for-investment increased by 13.7% annualized, reflecting strong credit quality with non-performing loans at 0.23%. A cash dividend of $0.13 per share was declared, payable November 23, 2022.
NORTHFIELD BANCORP, INC. (Nasdaq:NFBK) reported diluted earnings per share of $0.34 for Q2 2022, showing a decrease from $0.40 in Q2 2021. Net interest margin improved to 3.03%, up from 2.87% in the prior quarter, while loans held-for-investment surged 23.3% annualized to $4.11 billion. The board approved a $45 million stock repurchase program and declared a cash dividend of $0.13 per share. However, net income dropped to $30 million for the six months ending June 30, 2022, compared to $38.5 million the previous year, attributed to increased provision for credit losses and decreased non-interest income.
NORTHFIELD BANCORP, INC. (Nasdaq:NFBK) has announced a new stock repurchase program authorizing the buyback of up to $45 million of its outstanding common stock, beginning June 22, 2022. This initiative aims to enhance shareholder value by reducing the number of shares outstanding. Repurchases will adhere to a Rule 10b5-1 trading plan, with timing influenced by market conditions and liquidity. The company retains the right to modify or suspend the program based on market dynamics. Repurchased shares will be held as treasury stock for corporate purposes.
NORTHFIELD BANCORP, INC. (Nasdaq:NFBK) has announced the completion of a private placement offering of 5.00% Fixed-to-Floating Rate Subordinated Notes due 2032, totaling $62 million. The proceeds will support general corporate purposes, including possible share repurchases. The Notes, which qualify as Tier 2 capital, bear a fixed interest rate of 5.00% until June 30, 2027, after which the rate will adjust quarterly based on SOFR plus 200 basis points. The offering is not registered with the SEC, thus not available for public sale.
NORTHFIELD BANCORP (NFBK) reported diluted earnings of $0.30 per share for Q1 2022, down from $0.34 in Q4 2021 and $0.38 in Q1 2021. Net interest margin decreased to 2.87% from 2.96% in Q4 2021 and 3.10% in Q1 2021. However, loans held-for-investment increased by 11.5% annualized, and deposits rose by 13.9% annualized. The company declared a cash dividend of $0.13 per share, payable May 25, 2022. Despite a net income decline to $14.1 million from $18.7 million a year ago, credit quality remains strong with non-performing loans at just 0.21% of total loans.
NORTHFIELD BANCORP reported a diluted earnings per share of $0.34 for Q4 2021, up from $0.26 in Q4 2020. For the full year, EPS rose to $1.45 from $0.76 in 2020. Net interest income increased 19.9% to $155.6 million, driven by improved asset quality and lower costs of funding. Credit quality remains strong, with non-performing loans at 0.21%. The bank declared a $0.13 cash dividend per share, payable February 23, 2022. However, net interest margin fell to 2.96%, a decrease of three basis points from Q3 2021.
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.