Northfield Bancorp, Inc.

Listed Company

NFBKCIK 0001493225NasdaqAcceleratedSavings Institution, Federally CharteredDelawareFY ends Dec 31

Period

FY 2025

Revenue

$6.87M

Net Income

$796.0K

Total Assets

—

Equity

—

Shares Out

41.76M

Op. Cash Flow

$53.70M

Business

Northfield Bancorp, Inc. is a savings and loan holding company that operates through its wholly owned subsidiary, Northfield Bank, to provide retail and commercial banking services. The company offers lending products including multifamily and commercial real estate loans, commercial and industrial loans, construction and land loans, home equity loans and lines of credit, as well as deposit accounts and investment securities. Its key operating entities include Northfield Bank, NSB Services Corp. and NSB Realty Trust, which hold mortgage-related investments. The bank serves customers primarily in Staten Island and Brooklyn, New Jersey counties and parts of eastern Pennsylvania through branch offices, ATMs and digital channels including internet and mobile banking.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans	185	184	182	161	158
Mortgage-backed securities	56	29	15	12	11
Other securities	2	11	5	4	2
FHLB of New York dividends	3	4	3	1	1
Deposits in other financial institutions	4	9	4	817,000	197,000
Total interest income	249	238	209	180	172
Deposits	79	82	49	10	6
Borrowings	30	38	32	9	10
Subordinated debt	3	3	3	2	0
Total interest expense	112	123	84	21	—
Net interest income	137	114	125	158	156
Provision for credit losses	7	4	1	4	−6
Net interest income after provision for credit losses	130	110	123	154	162
Fees and service charges for customer services	7	6	5	6	5
Income on bank-owned life insurance	7	4	4	3	4
Losses on available-for-sale debt securities, net	0	−6,000	−17,000	279,000	1
Gains on trading securities, net	2	2	2	−2	2
Gains on sale of loans	0	51,000	134,000	453,000	1
Gain on sale of property	0	3	0	0	—
Other	1	1	948,000	338,000	357,000
Total non-interest income	17	17	12	8	14
Compensation and employee benefits	51	49	46	42	44
Occupancy	13	13	13	13	14
Furniture and equipment	2	2	2	2	2
Data processing	9	8	8	7	7
Professional fees	4	3	3	4	4
Advertising	1	2	2	2	2
Federal Deposit Insurance Corporation (FDIC) insurance	2	2	2	1	1
Credit (benefit) loss expense for off-balance sheet exposures	−228,000	282,000	−555,000	−1	307,000
Impairment of Goodwill	41	0	0	—	—
Other	6	7	6	6	5
Total non-interest expense	130	87	83	77	79
Income before income tax expense	17	41	52	85	97
Income tax expense	16	11	14	24	26
Net income	796,000	30	38	61	71
Basic (usd per share)	0.02	0.72	0.86	1.32	1.46
Diluted (usd per share)	0.02	0.72	0.86	1.32	1.45
Basic weighted average shares outstanding (in shares)	40	42	44	46	48
Diluted weighted average shares outstanding (in shares)	40	42	44	46	49
Net unrealized holding gains	23	16	22	−70	−14
Less: reclassification adjustment for net losses included in net income	0	6,000	17,000	−279,000	−1
Net unrealized gains	23	16	22	−70	−15
Post-retirement benefits adjustment	81,000	−13,000	−344,000	172,000	0
Other comprehensive income, before tax	23	16	22	−70	−15
Income tax expense related to net unrealized holding gains on debt securities available-for-sale	−7	−4	−6	20	4
Income tax benefit related to reclassification adjustment for losses included in net income	0	−2,000	−5,000	79,000	419,000
Income tax (benefit) expense related to post-retirement benefits adjustment	−24,000	4,000	94,000	−48,000	0
Other comprehensive income, net of tax	16	12	16	−50	−11
Comprehensive income	17	42	54	11	60

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2022 2022-06-30
Cash and due from banks	12	13	14	15	—
Interest-bearing deposits in other financial institutions	152	155	216	31	—
Total cash and cash equivalents	164	168	230	46	—
Trading securities	15	14	13	11	—
Debt securities available-for-sale, at estimated fair value (and no allowance for credit losses at December 31, 2025 and December 31, 2024)	1,412	1,101	795	952	—
Debt securities held-to-maturity, at amortized cost (estimated fair value of $8,762 at December 31, 2025, and $8,762 at December 31, 2024)	8	9	10	11	—
Equity securities	5	14	11	10	—
Loans held-for-sale	0	5	0	—	—
Loans held-for-investment, net	3,857	4,022	4,204	4,244	—
Allowance for credit losses	−38	−35	−38	−43	—
Net loans held-for-investment	3,819	3,987	4,166	4,201	—
Accrued interest receivable	20	19	18	17	—
Bank-owned life insurance	183	176	172	168	—
Federal Home Loan Bank (FHLB) of New York stock, at cost	47	36	40	30	—
Operating lease right-of-use assets	26	28	30	34	—
Premises and equipment, net	20	22	25	25	—
Goodwill	0	41	41	41	—
Other assets	35	47	49	54	—
Total assets	5,754	5,666	5,598	5,601	—
Deposits	4,016	4,138	3,878	4,150	—
FHLB advances and other borrowings	900	666	834	559	—
Subordinated debentures, net of issuance costs	62	61	61	61	62
Operating lease liabilities	30	32	35	40	—
Advance payments by borrowers for taxes and insurance	20	24	25	26	—
Accrued expenses and other liabilities	36	39	40	39	—
Total liabilities	5,064	4,962	4,899	4,900	—
Preferred stock, $0.01 par value; 25,000,000 shares authorized, none issued or outstanding	0	0	0	0	—
Common stock, $0.01 par value; 150,000,000 shares authorized, 64,770,875 shares issued at December 31, 2025 and 2024, respectively, 41,801,495 and 42,903,598 shares outstanding at December 31, 2025 and 2024, respectively	648,000	648,000	648,000	648,000	—
Additional paid-in-capital	592	591	591	590	—
Unallocated common stock held by employee stock ownership plan	−12	−13	−14	−16	—
Retained earnings	420	441	433	418	—
Accumulated other comprehensive loss	−4	−20	−32	−48	—
Treasury stock at cost; 22,969,380 and 21,867,277 shares at December 31, 2025 and 2024, respectively	−308	−295	−279	−244	—
Total stockholders equity	690	705	699	701	—
Total liabilities and stockholders equity	5,754	5,666	5,598	5,601	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
ESOP and stock compensation expense	5	4	4	4	4
Depreciation	3	4	4	4	4
Amortization of premiums and deferred loan costs, net of accretion of discounts and deferred loan fees	4	2	7	9	3
Amortization of debt issuance costs	223,000	223,000	223,000	112,000	0
Amortization of intangible assets	47,000	85,000	124,000	174,000	200,000
Amortization of operating lease right-of-use assets	5	5	5	5	4
(Gain) loss on sale of premises and equipment and other real estate owned, net	0	3	0	0	—
Net gain on sale of loans held-for-sale	0	−51,000	−134,000	−453,000	−1
Proceeds from loans held-for-sale	0	673,000	2	4	0
Origination of loans held-for-sale	0	−622,000	−1	−3	0
Net sales (purchases) of trading securities	363,000	330,000	−77,000	504,000	533,000
Increase in accrued interest receivable	−1	−587,000	−1	−3	118,000
Decrease (increase) in other assets	502,000	−9	−9	−4	−15
Deferred tax (benefit) provision	−984,000	1	3	−625,000	3
(Decrease) increase in accrued expenses and other liabilities	−3	−623,000	674,000	4	5
Net cash provided by operating activities	54	31	47	83	65
Net decrease in loans receivable	190	173	36	−431	−105
Purchase of loans	−26	−5	−4	−10	0
Purchase of FHLB of New York stock	−64	−26	−45	−45	−220,000
Redemption of FHLB of New York stock	53	30	36	37	7
Purchases of debt securities available-for-sale	−860	−1,185	−74	−169	−747
Purchases of equity securities	0	−4	−186,000	−5	−5
Principal payments and maturities on debt securities available-for-sale	569	895	247	305	454
Principal payments and maturities on debt securities held-to-maturity	997,000	571,000	877,000	720,000	2
Proceeds from sale of equity securities	9	0	0	0	0
Proceeds from sale of premises and equipment and other real estate owned	0	4	63,000	125,000	0
Purchases and improvements of premises and equipment	−1	−1	−4	−3	−2
Net cash (used in) provided by investing activities	−128	−118	194	−280	85
Net (decrease) increase in deposits	−123	260	−272	−19	93
Dividends paid	−21	−22	−23	−24	−24
Exercise of stock options	0	0	100,000	2	3
Purchase of treasury stock	−15	−19	−37	−31	−53
Decrease in advance payments by borrowers for taxes and insurance	−4	−1	−893,000	1	5
Proceeds from securities sold under agreements to repurchase and other borrowings	5,337	892	744	—	—
Repayments related to securities sold under agreements to repurchase and other borrowings	−5,103	−1,085	−468	−120	−170
Net cash provided by (used in) financing activities	71	26	−57	152	−146
Net (decrease) increase in cash and cash equivalents	−4	−62	184	−45	4
Interest	112	127	80	19	17
Loans charged-off, net	4	7	6	838,000	3
Transfers of loans held-for-sale at fair value to loans held-for-investment	0	5	0	0	2
Right-of-use assets obtained in exchange for new lease liabilities	3	2	645,000	5	2

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