Northfield Bancorp, Inc. Announces Fourth Quarter and Year End 2022 Results

NOTABLE ITEMS INCLUDE:

FOURTH QUARTER 2022

• DILUTED EARNINGS PER SHARE OF $0.31 FOR THE FOURTH QUARTER OF 2022, COMPARED TO $0.37 FOR THE TRAILING QUARTER, AND $0.34 FOR THE FOURTH QUARTER OF 2021.
• NET INTEREST MARGIN DECREASED BY 19 BASIS POINTS TO 2.89% COMPARED TO 3.08% FOR THE TRAILING QUARTER, AND BY SEVEN BASIS POINTS COMPARED TO 2.96% FOR THE FOURTH QUARTER OF 2021.
  • Net interest income included loan prepayment income of $287,000 in the current quarter as compared to $1.6 million in the trailing quarter and $2.0 million in the fourth quarter of 2021.
  • Net interest income included Paycheck Protection Program ("PPP") fees of $1.3 million in the fourth quarter of 2021.
• CREDIT QUALITY REMAINS STRONG WITH NON-PERFORMING LOANS TO TOTAL LOANS AT 0.24%.
• REPURCHASED 556,859 SHARES TOTALING APPROXIMATELY $8.5 MILLION.
• CASH DIVIDEND OF $0.13 PER SHARE DECLARED ON COMMON STOCK, PAYABLE FEBRUARY 22, 2023, TO STOCKHOLDERS OF RECORD AS OF FEBRUARY 8, 2023.

FULL-YEAR 2022