GlobeNewswire·Apr 20, 2026, 5:08 PM ET

Northfield Bancorp, Inc. Announces First Quarter 2026 Results

NFBK

Northfield Bancorp, Inc. reported net income of $11.8 million ($0.30 per diluted share) for the quarter ended March 31, 2026, compared to a net loss of $27.4 million ($0.69 per share) for the quarter ended December 31, 2025, & net income of $7.9 million ($0.19 per share) for the same period in 2025.
The current quarter included $1.7 million in non-tax deductible merger expenses related to the pending merger with Columbia Financial, Inc., while the prior quarter included a $41.0 million non-cash, non-tax deductible goodwill impairment charge.
Net interest income increased to $37.0 million for the current quarter, up 3.2% from the previous quarter & up 65.1% from the first quarter of 2025.
Net interest margin expanded to 2.76% for the current quarter, an increase of six basis points from the prior quarter & 38 basis points from the first quarter of 2025.
Non-brokered deposits increased by $83.3 million to $4.06 billion, while the cost of these deposits decreased to 1.74%.
Loan balances declined by $48.8 million to $3.81 billion, primarily driven by a decrease in multifamily loans, partially offset by increases in commercial & industrial & construction loans.
Asset quality remained strong with non-performing loans to total loans at 0.56% as of March 31, 2026, compared to 0.42% at December 31, 2025.
The provision for credit losses on loans decreased to $247,000 for the current quarter, down from $1.7 million in the previous quarter & $2.6 million in the same period last year.
Total stockholders' equity increased by $4.6 million to $694.7 million, driven by net income & equity award activity, partially offset by dividend payments.
The company declared a quarterly cash dividend of $0.13 per share, payable on May 20, 2026, to stockholders of record on May 6, 2026.