Segment Information

The Company's reportable segment is determined by the CODM, based upon information provided about the Company's products and services offered, primarily banking operations, originating loans and offering a variety of deposit products. The segment is also distinguished by the level of information provided by the CODM, who uses such information to review performance of various components of the business (such as branches) which are then aggregated if operating performance, products and services, and customers are similar. The CODM will evaluate the performance of the Company's business components such as by evaluating revenue streams, significant expenses, and budget to actual results in assessing the Company's segment and in the determination of allocating resources. The CODM uses the revenue streams to evaluate product pricing and significant expenses to assess performance and evaluate return on assets. The CODM uses consolidated net income to benchmark the Company against its competitors. The benchmarking analysis coupled with monitoring of budget to actual results are used in assessment performance and in establishing compensation. Loans and investments provide the revenues in the banking operations. Interest expense, provisions for credit losses, and payroll provide the significant expenses in the banking operations. The Company's operations are all domestic.

Segment performance is evaluated using consolidated net income. Information reported internally for performance assessment by the CODM follows, inclusive of reconciliations of significant segment totals to the consolidated financial statements.


	Banking Segment
	2024		2023		2022
	(in thousands)
Interest income	$	237,908	$	208,795	$	179,688
Reconciliation of revenue
Other revenues - non-interest income	16,822		11,896		7,983
Total consolidated revenues	254,730		220,691		187,671
Less:
Interest expense	123,423		84,128		21,382
Segment net interest income and non-interest income	131,307		136,563		166,289
Less:
Compensation and employee benefits	49,338		46,496		41,961
Provision for credit losses	4,281		1,353		4,482
Other segment items (1) (2) (3)	37,187		36,954		34,987
Income tax expense	10,556		14,091		23,740
Segment expenses	101,362		98,894		105,170
Segment net income	$	29,945	$	37,669	$	61,119




Segment assets	5,666,378		5,598,396		5,601,293
Total consolidated assets	$	5,666,378	$	5,598,396	$	5,601,293

(1) Other segment items include occupancy, furniture and equipment, data processing, professional fees, advertising, FDIC insurance and other miscellaneous expenses.

(2) Includes depreciation expense of $3,551, $3,678 and $3,645 in 2024, 2023, and 2022, respectively.

(3) Includes amortization expense of $7,402, $11,729, and $14,218 in 2024, 2023, and 2022, respectively.

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Northfield Bancorp, Inc. Segments Disclosure

About Segments Disclosures

Other Available Disclosures