Northfield Bancorp, Inc. Announces Third Quarter 2023 Results

NOTABLE ITEMS FOR THE QUARTER INCLUDE:

WOODBRIDGE, N.J., Oct. 25, 2023 (GLOBE NEWSWIRE) -- NORTHFIELD BANCORP, INC. (Nasdaq:NFBK) (the “Company”), the holding company for Northfield Bank, reported net income of $8.2 million, or $0.19 per diluted share for the three months ended September 30, 2023, compared to $9.6 million, or $0.22 per diluted share, for the three months ended June 30, 2023, and $17.0 million, or $0.37 per diluted share, for the three months ended September 30, 2022. For the nine months ended September 30, 2023, net income totaled $29.4 million, or $0.67 per diluted share (including severance cost of $440,000, or $0.01 per share), compared to $47.0 million, or $1.01 per diluted share, for the nine months ended September 30, 2022. The decrease in net income for both the three and nine months ended September 30, 2023, compared to the trailing quarter and comparable prior year periods, was primarily the result of a decrease in net interest income, which was negatively impacted by higher funding costs.

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