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Northfield Bancorp, Inc. Announces Fourth Quarter 2012 Results

Delinquency Status of Total Non-accruing Loans

Generally, loans are placed on non-accrual status when they become 90 days or more delinquent, and remain on non-accrual status until they are brought current, have a minimum of six months of performance under the loan terms, and factors indicating reasonable doubt about the timely collection of payments no longer exist. Therefore, loans may be current in accordance with their loan terms, or may be less than 90 days delinquent, and still be on non-accrual status.

The following tables detail the delinquency status of non-accruing loans (held-for-investment and held-for-sale) at December 31, 2012, and December 31, 2011 (dollars in thousands). All delinquent loans in the following two tables are classified as held-for-investment, with the exception of $5.4 million and $3.4 million of loans held-for-sale at December 31, 2012 and 2011. At December 31, 2012, the table includes $3.8 million of one-to-four family non-accruing loans held-for-sale as a result of the Merger.

  December 31, 2012
  Days Past Due  
Real estate loans: 0 to 29 30 to 89 90 or more Total
Commercial   $ 15,646  $ 442  $ 6,337  $ 22,425
One -to- four family residential   356  649  5,328  6,333
Construction and land  2,070  --   --   2,070
Multifamily   --   --   1,169  1,169
Home equity and lines of credit  107  --   1,587  1,694
Commercial and industrial loans  532  --   724  1,256
Total non-accruing loans  $ 18,711  $ 1,091  $ 15,145  $ 34,947
         
  December 31, 2011
  Days Past Due  
Real estate loans: 0 to 29 30 to 89 90 or more Total
Commercial   $ 16,395  $ 3,613  $ 14,651  $ 34,659
One -to- four family residential   210  595  533  1,338
Construction and land  1,709  --   422  2,131
Multifamily   523  --   1,652  2,175
Home equity and lines of credit  102  --   1,664  1,766
Commercial and industrial loans  553  --   1,022  1,575
Insurance premium loans  --   --   137  137
Total non-accruing loans  $ 19,492  $ 4,208  $ 20,081  $ 43,781

Loans Subject to Restructuring Agreements

Included in non-accruing loans are loans subject to restructuring agreements totaling $19.3 million and $23.3 million at December 31, 2012 and December 31, 2011, respectively.  At December 31, 2012, $16.0 million, or 83.0% of the $19.3 million of loans subject to restructuring agreements, were performing in accordance with their restructured terms, as compared to $19.2 million, or 82.3%, at December 31, 2011. 

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