Northfield ( (NFBK) ) has released its Q1 earnings. Here is a breakdown of the information Northfield presented to its investors.
Northfield Bancorp, Inc., a holding company for Northfield Bank, operates in the financial services sector, providing a range of banking services through its branches in New York and New Jersey.
Northfield Bancorp, Inc. reported its first quarter 2025 financial results, highlighting a net income of $7.9 million, or $0.19 per diluted share, which shows a decrease from the previous quarter but an increase compared to the same period last year.
Key financial metrics for the quarter include an increase in net interest margin to 2.38%, driven by lower funding costs and higher yields on interest-earning assets. Deposits, excluding brokered deposits, rose by $133.6 million, while loans saw a decline of $30.7 million. The company maintained strong asset quality with non-performing loans at 0.48% of total loans.
Strategically, Northfield Bancorp announced a new $10 million stock repurchase plan following the completion of a previous $5 million plan. The company also declared a cash dividend of $0.13 per share, reflecting its commitment to returning value to shareholders.
Looking ahead, Northfield’s management remains focused on growing its franchise and maintaining strong financial performance by managing operating expenses and capital levels prudently.