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Northfield Bancorp, Inc. Announces Third Quarter 2013 Results

NOTABLE ITEMS INCLUDE:

  • NET INTEREST INCOME INCREASED
  • 13.7% OVER THE COMPARABLE QUARTER OF 2012
  • 11.6% OVER THE COMPARABLE NINE MONTHS OF 2012
  • NET INTEREST MARGIN EXPANDED 17 BASIS POINTS FROM THE COMPARABLE QUARTER OF 2012
  • TOTAL ORIGINATED LOANS INCREASED 17.5% YEAR TO DATE, FUELED BY 24.0% GROWTH IN MULTIFAMILY LOANS
  • NONPERFORMING ASSETS TO TOTAL ASSETS DECREASED TO 0.74% AS NONPERFORMING LOANS DECLINED OVER 45.2% FROM YEAR END
  • TOTAL CAPITAL REMAINED STRONG AT 26.3% OF TOTAL ASSETS
  • CASH DIVIDEND OF $0.06 PER COMMON SHARE DECLARED PAYABLE NOVEMBER 20, 2013, TO STOCKHOLDERS OF RECORD AS OF NOVEMBER 6, 2013

WOODBRIDGE, N.J., Oct. 23, 2013 (GLOBE NEWSWIRE) -- Northfield Bancorp, Inc . (Nasdaq:NFBK), the holding company for Northfield Bank, reported basic and diluted earnings per common share of $0.09 and $0.26 for the quarter and nine months ended September 30, 2013, respectively, compared to basic earnings per common share of $0.07 and $0.24 for the quarter and nine months ended September 30, 2012, respectively, and diluted earnings per common share of $0.07 and $0.23 for the quarter and nine months ended September 30, 2012, respectively.

"The quarter's strong financial performance is highlighted by increased net interest income driven by strong loan growth," commented John W. Alexander, Chairman and Chief Executive Officer of Northfield. "We continue to work to change the mix of assets from investments to loans, with loans now comprising more than half of total assets. Strong loan origination activity in our multifamily portfolio has resulted in 4.9% overall loan growth in the quarter and almost 12.5% growth year-to-date, which has been a key driver to increasing net interest income and sustaining net interest margins."

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