Credit Losses and Provisions - The allowance for credit losses decreased to $35.183 million in 2024 from $37.535 million in 2023, reflecting a reduction in the overall loan portfolio[82]. - Total charge-offs for 2024 amounted to $7.009 million, compared to $6.580 million in 2023, indicating an increase in credit losses[82]. - The provision for credit losses increased to $4.281 million in 2024 from $1.353 million in 2023, suggesting a more conservative approach to potential future losses[82]. - The allowance for credit losses to total non-performing loans ratio decreased to 227.72% in 2024 from 328.30% in 2023, indicating a decline in coverage for non-performing loans[82]. - The allowance for credit losses allocated to commercial mortgage loans was $20.949 million, representing 86.71% of total loans in that category as of December 31, 2024[85]. - The provision for credit losses was $4,281,000 in 2024, compared to $1,353,000 in 2023, reflecting a substantial increase in credit loss provisions[385]. - The allowance for credit losses on loans is determined based on historical portfolio loss experience, current borrower-specific risk characteristics, and forecasts of future economic conditions[418]. - The Company has identified key economic variables that correlate with historical credit performance, including Gross Domestic Product and unemployment rates[421]. - The allowance for credit losses for off-balance sheet credit exposures is adjusted for an average historical funding rate[425]. - The Company has ceased to recognize or measure new TDRs since the adoption of ASU 2022-02, but existing TDRs remain until settled[428]. Financial Performance - Net income for 2024 was $29,945,000, down from $37,669,000 in 2023, indicating a decrease of about 20.5%[385]. - Total assets increased to $5,666,378,000 in 2024 from $5,598,396,000 in 2023, reflecting a growth of approximately 1.22%[383]. - Net interest income after provision for credit losses decreased to $110,204,000 in 2024 from $123,314,000 in 2023, a decline of about 10.65%[385]. - Total interest income rose to $237,908,000 in 2024, up from $208,795,000 in 2023, representing an increase of approximately 13.93%[385]. - Non-interest income grew to $16,822,000 in 2024 from $11,896,000 in 2023, an increase of approximately 41.3%[385]. - Comprehensive income for 2024 was $41,505,000, a decline of 22.4% compared to $53,558,000 in 2023[387]. - The company reported a basic net income per common share of $0.72 in 2024, down from $0.86 in 2023, a decrease of about 16.28%[385]. Deposits and Funding - Brokered deposits increased significantly to $263.4 million in 2024 from $100.0 million in 2023, representing a 163.4% rise[100]. - Municipal deposits totaled $859.3 million at the end of 2024, accounting for 20.8% of total deposits, up from $768.6 million or 19.8% in 2023[100]. - Estimated uninsured deposits reached $1.82 billion in 2024, with adjusted uninsured deposits at $896.5 million, representing 21.7% of total deposits[101]. - Total deposits as of December 31, 2024, amounted to $3,890.2 million, with a year-over-year increase of 2.23% from $3,805.4 million in 2023[103]. - Non-interest bearing demand deposits decreased to $694.5 million, representing 17.85% of total deposits, down from 20.26% in 2023[103]. - NOW and interest-bearing demand deposits increased to $1,280.9 million, accounting for 32.93% of total deposits, with an average interest rate of 2.16%[103]. - The net increase in deposits for 2024 was $260,042,000, contrasting with a net decrease of $271,784,000 in 2023[392]. Securities and Investments - The corporate bond portfolio consisted mostly of investment-grade securities with remaining maturities generally shorter than ten years as of December 31, 2024[94]. - The fair value of the trading portfolio increased to $13.9 million in 2024 from $12.5 million in 2023, reflecting growth in mutual fund investments[95]. - As of December 31, 2024, total debt securities available-for-sale amounted to $1,129.8 million, an increase from $1,100.8 million in 2023, reflecting a growth of approximately 2.6%[96]. - The weighted average yield for securities available-for-sale was 4.26% based on fair value as of December 31, 2024[98]. - The company’s total debt securities available-for-sale included $734.1 million in GSE REMICs, showing stability compared to $727.3 million in 2023[96]. - The estimated fair value of mortgage-backed securities was $989.0 million as of December 31, 2024, down from $550.6 million in 2023[458]. - The Company recognized a total of $1,366 thousand in gross unrealized gains on debt securities available-for-sale as of December 31, 2024[458]. - The Company held nine pass-through mortgage-backed debt securities held-to-maturity in a continuous unrealized loss position of twelve months or greater at December 31, 2024[471]. Capital and Regulatory Compliance - The company exceeded all capital adequacy requirements as of December 31, 2024, and is categorized as a well-capitalized institution[126]. - Federal law requires federal bank regulators to take "prompt corrective action" for institutions not meeting minimum capital requirements, with five capital categories defined[128]. - An institution is deemed "well capitalized" if it has a total risk-based capital ratio of 10.0% or greater and a Tier 1 risk-based capital ratio of 8.0% or greater[128]. - Northfield Bancorp exceeded the FRB's consolidated capital requirements as of December 31, 2024[147]. - The FRB's "source of strength" doctrine requires holding companies to support their subsidiary depository institutions during financial stress[148]. - Northfield Bank is a member of the Deposit Insurance Fund, with deposit accounts insured by the FDIC up to $250,000 per account ownership category[137]. Stockholder Information - The total stockholders' equity increased to $704,696,000 in 2024 from $699,445,000 in 2023, a slight increase of approximately 0.36%[383]. - The company declared cash dividends of $0.52 per common share in both 2023 and 2024, totaling $21,826,000 in 2024[390]. - The number of shares outstanding decreased to 42,903,598 in 2024 from 44,524,929 in 2023[390]. - The average cost of treasury stock repurchased in 2024 was $10.24 per share, with a total repurchase of 1,802,072 shares[390]. - Stock compensation expense for 2024 was $2,341,000, compared to $2,383,000 in 2023, reflecting a slight decrease[390]. Cash Flow and Liquidity - Net cash provided by operating activities for 2024 was $31,105,000, down from $46,970,000 in 2023, a decrease of about 34%[392]. - Total cash and cash equivalents at the end of 2024 were $167,744,000, compared to $229,506,000 at the end of 2023, reflecting a decrease of approximately 27%[392]. - The company reported a net cash used in investing activities of $118,491,000 in 2024, compared to a net cash provided of $193,869,000 in 2023[392]. - The company experienced a net cash provided by financing activities of $25,624,000 in 2024, compared to a net cash used of $57,132,000 in 2023[392]. - The company reported a net decrease in cash and cash equivalents of $61,762,000 in 2024, compared to an increase of $183,707,000 in 2023[392].

Financial Performance - Net income for Q4 2024 was $11.3 million, or $0.27 per diluted share, compared to $6.5 million, or $0.16 per diluted share in Q3 2024, and $8.2 million, or $0.19 per diluted share in Q4 2023[3]. - Non-interest income increased by $4.9 million, or 41.4%, to $16.8 million for the year ended December 31, 2024, from $11.9 million in 2023[9]. - Net interest income for the year ended December 31, 2024, decreased by $10.2 million, or 8.2%, to $114.5 million from $124.7 million in 2023[6]. - Net interest income increased by $1.5 million, or 5.2%, to $29.7 million for the quarter ended December 31, 2024, driven by a decrease in interest expense on deposits and borrowings[19]. - Non-interest income rose by $3.4 million, or 93.1%, to $7.0 million for the quarter ended December 31, 2024, primarily due to a $3.4 million gain on the sale of property[16]. - Net income for the quarter was $11,251 thousand, up from $8,222 thousand in the previous year, an increase of 37.06%[64]. - Basic net income per common share increased to $0.28, compared to $0.19 for the same period last year, an increase of 47.37%[64]. Asset and Liability Management - Total assets increased by $68.0 million, or 1.2%, to $5.67 billion at December 31, 2024, from $5.60 billion at December 31, 2023[25]. - Total liabilities increased by $62.7 million, or 1.3%, to $4.96 billion at December 31, 2024, compared to $4.90 billion at December 31, 2023[34]. - Total stockholders' equity increased by $5.3 million to $704.7 million at December 31, 2024, from $699.4 million at December 31, 2023[39]. - Total interest-earning assets increased to $5,413,769 million for the three months ended December 31, 2024, compared to $5,275,357 million for the same period in 2023, reflecting a growth of 2.63%[66]. - Total interest-bearing liabilities rose to $4,239,982 million for the year ended December 31, 2024, up from $3,990,894 million in 2023, an increase of 6.23%[70]. Credit Quality - The provision for credit losses on loans increased by $2.9 million to $4.3 million for the year ended December 31, 2024, compared to $1.4 million in 2023[8]. - Asset quality remains strong with non-performing loans to total loans at 0.51% compared to 0.75% at September 30, 2024[4]. - Non-performing loans totaled $20.3 million, or 0.51%, of total loans at December 31, 2024, down from $30.4 million, or 0.75%, at September 30, 2024[43]. - The allowance for credit losses remained stable at $35,183 thousand, compared to $35,197 thousand in the previous quarter[62]. - Net charge-offs were $2.0 million for the quarter ended December 31, 2024, compared to $1.2 million for the same quarter in 2023[15]. Interest Rates and Margins - Net interest margin increased by 10 basis points to 2.18% for Q4 2024, compared to 2.08% for Q3 2024[4]. - The average cost of interest-bearing liabilities increased by 80 basis points to 2.91% for the year ended December 31, 2024, from 2.11% in 2023[6]. - The net interest rate spread for the year ended December 31, 2024, was 1.45%, down from 1.82% in 2023[70]. - The net interest margin improved to 2.18% for the three months ended December 31, 2024, compared to 2.17% for the same period in 2023[68]. Dividends and Taxation - Cash dividend of $0.13 per share declared, payable February 19, 2025, to stockholders of record as of February 5, 2025[4]. - The effective tax rate for the year ended December 31, 2024, was 26.1%, compared to 27.2% for the year ended December 31, 2023[11]. - The effective tax rate for the quarter ended December 31, 2024, was 19.2%, down from 27.2% for the same quarter in 2023[17]. Loan Portfolio - Loans held for investment, net, decreased by $181.4 million to $4.02 billion at December 31, 2024, primarily due to a decrease in multifamily and commercial real estate loans[27]. - The multifamily loan portfolio reached $2.60 billion, representing 65% of the total loan portfolio, with $437.7 million (11%) collateralized by rent-regulated properties in New York[49]. - The small business unsecured commercial and industrial loan portfolio amounted to $28.9 million at December 31, 2024, down from $39.1 million at September 30, 2024, and $37.4 million at December 31, 2023[47]. - Average loans outstanding decreased to $4,106,641 million for the year ended December 31, 2024, from $4,248,355 million in 2023, a decline of 3.34%[70].

Core Insights - Northfield Bancorp (NFBK) reported quarterly earnings of $0.21 per share, exceeding the Zacks Consensus Estimate of $0.19 per share, and showing an increase from $0.19 per share a year ago, resulting in an earnings surprise of 10.53% [1] - The company posted revenues of $36.69 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 13.24% and increasing from $32.55 million year-over-year [2] - Northfield has surpassed consensus EPS estimates two times over the last four quarters and topped consensus revenue estimates three times in the same period [2] Earnings Outlook - The sustainability of Northfield's stock price movement will depend on management's commentary during the earnings call and future earnings expectations [3] - The current consensus EPS estimate for the upcoming quarter is $0.19 on revenues of $32.51 million, while for the current fiscal year, it is $0.95 on revenues of $135.93 million [7] Industry Context - The Financial - Savings and Loan industry, to which Northfield belongs, is currently ranked in the top 12% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Northfield's stock performance [5]

Core Viewpoint - Northfield Bancorp, Inc. reported solid financial performance for the fourth quarter and the year ended December 31, 2024, with net income increasing compared to the previous quarter and year, despite challenges in the economic environment [2][3]. Financial Performance - Net income for the fourth quarter of 2024 was $11.3 million, or $0.27 per diluted share, compared to $6.5 million, or $0.16 per diluted share for the third quarter of 2024, and $8.2 million, or $0.19 per diluted share for the fourth quarter of 2023 [2][6][13]. - For the year ended December 31, 2024, net income totaled $29.9 million, or $0.72 per diluted share, down from $37.7 million, or $0.86 per diluted share for 2023 [2][4]. Revenue and Expenses - Net interest income for the fourth quarter of 2024 increased by $767,000, or 2.7%, to $29.7 million, driven by a $5.3 million increase in interest income, partially offset by a $4.5 million increase in interest expense [14][21]. - For the year ended December 31, 2024, net interest income decreased by $10.2 million, or 8.2%, to $114.5 million, primarily due to a $39.3 million increase in interest expense [5][8]. - Non-interest income increased by $4.9 million, or 41.4%, to $16.8 million for the year ended December 31, 2024, mainly due to a $3.4 million gain on the sale of property [10][11]. Asset Quality and Credit Losses - The provision for credit losses on loans increased by $2.9 million to $4.3 million for the year ended December 31, 2024, compared to $1.4 million for 2023 [9]. - Non-performing loans to total loans stood at 0.51% as of December 31, 2024, down from 0.75% at the end of the previous quarter [6]. Capital and Liquidity - The Company maintained strong liquidity with approximately $683 million in unpledged available-for-sale securities and loans readily available for pledge of approximately $935 million [6]. - Total stockholders' equity increased by $5.3 million to $704.7 million at December 31, 2024, from $699.4 million at December 31, 2023 [41]. Deposits and Borrowings - Total deposits increased by $260.0 million, or 6.7%, to $4.14 billion at December 31, 2024, with brokered deposits increasing significantly [39][40]. - Borrowed funds decreased to $727.8 million at December 31, 2024, from $920.5 million at December 31, 2023, primarily due to a decrease in other borrowings [40]. Dividend Declaration - The Board of Directors declared a cash dividend of $0.13 per share, payable on February 19, 2025, to stockholders of record on February 5, 2025 [3].

Core Points - Northfield Bank's CEO, Steven M. Klein, has been elected to the Board of Directors of the Federal Home Loan Bank of New York for a four-year term starting January 1, 2025 [1][2] - Klein expressed gratitude for the support from New York members and emphasized the importance of the FHLBNY's mission to provide liquidity for housing and community development [2] - Northfield Bank operates 38 full-service banking offices across New York and New Jersey, focusing on community support and development [3][4] Company Overview - Northfield Bank was founded in 1887 and has a presence in Staten Island, Brooklyn, and several counties in New Jersey [3] - The bank's leadership under Klein includes strategic planning in lending, technology, risk management, and community engagement [2] Federal Home Loan Bank of New York Overview - The FHLBNY is a wholesale bank that is part of a national network of 11 regional banks, serving 338 financial institutions and housing associates [4] - Its mission is to provide reliable liquidity to support housing and local community development [4]

Financial Performance - Net income for the nine months ended September 30, 2024, was $18.7 million, down from $29.4 million for the same period in 2023, primarily due to a decrease in net interest income [165]. - Basic and diluted earnings per common share were $0.45 for the nine months ended September 30, 2024, down from $0.67 for the same period in 2023 [165]. - The company reported a net income of $18.7 million for the nine months ended September 30, 2024, a decrease from $29.4 million in the same period of 2023 [186]. - Net income for the quarter ended September 30, 2024, was $6.5 million, down from $8.2 million for the same quarter in 2023, reflecting a decrease in net interest income and an increase in the provision for credit losses [199]. Interest Income and Expense - Interest income increased by $23.9 million, or 15.5%, to $178.2 million for the nine months ended September 30, 2024, primarily due to a rise in interest-earning assets [187]. - Interest expense rose by $34.8 million, or 59.4%, to $93.4 million for the nine months ended September 30, 2024, driven by higher costs of deposits and borrowings [188]. - Interest income for the quarter ended September 30, 2024, increased by $6.6 million, or 12.5%, to $59.3 million, primarily due to a 38 basis point increase in the yield on interest-earning assets [200]. - Interest expense increased by $8.0 million, or 34.9%, to $31.1 million for the quarter ended September 30, 2024, from $23.0 million for the same quarter in 2023 [201]. Asset and Liability Management - Total assets increased by $132.5 million, or 2.4%, to $5.73 billion at September 30, 2024, from $5.60 billion at December 31, 2023 [166]. - Total liabilities increased by $132.3 million, or 2.7%, to $5.03 billion at September 30, 2024, mainly due to increased borrowings [179]. - The Bank's total short-term borrowed funds were $983 million at September 30, 2024, with a weighted average interest rate of 3.92% [224]. - The Company borrowed $300 million under the Bank Term Funding Program (BTFP) as of September 30, 2024 [224]. Loan Portfolio - Loans held-for-investment, net, decreased by $139.7 million, or 3.3%, to $4.06 billion at September 30, 2024, primarily due to decreases in multifamily and commercial real estate loans [170]. - Multifamily loans decreased by $110.1 million, or 4.0%, to $2.64 billion at September 30, 2024 [170]. - Total commercial real estate loans amounted to $878.2 million as of September 30, 2024, with a loan-to-value (LTV) ratio monitoring system in place [173]. - The multifamily loan portfolio totaled $2.64 billion, representing 65% of the total loan portfolio, with $447.5 million (11%) collateralized by rent-regulated properties in New York [219]. Credit Losses and Provisions - The allowance for credit losses on loans decreased to $35.2 million at September 30, 2024, from $37.5 million at December 31, 2023 [178]. - The provision for credit losses on loans increased by $1.3 million to $2.3 million for the nine months ended September 30, 2024, compared to $1.1 million for the same period in 2023, driven by a specific reserve related to a single commercial relationship totaling $12.5 million [190]. - Net charge-offs for the nine months ended September 30, 2024, were $4.7 million, primarily due to $3.9 million in net charge-offs on small business unsecured commercial and industrial loans [190]. - Provision for credit losses on loans increased by $2.4 million to $2.5 million for the quarter ended September 30, 2024, from $188,000 for the same quarter in 2023 [203]. Non-Interest Income and Expense - Non-interest income increased by $1.5 million, or 18.7%, to $9.8 million for the nine months ended September 30, 2024, compared to $8.3 million for the same period in 2023, primarily due to increases in fees and service charges [191]. - Non-interest expense increased by $3.2 million, or 5.2%, to $65.7 million for the nine months ended September 30, 2024, compared to $62.5 million for the same period in 2023, mainly due to higher employee compensation and benefits [193]. - Non-interest income increased by $1.5 million, or 68.7%, to $3.6 million for the quarter ended September 30, 2024, from $2.1 million for the same quarter in 2023 [204]. - Non-interest expense decreased by $189,000, or 0.9%, to $20.4 million for the quarter ended September 30, 2024, from $20.6 million for the same quarter in 2023 [205]. Regulatory Compliance and Risk Management - Northfield Bank and Northfield Bancorp, Inc. exceeded all regulatory capital requirements as of September 30, 2024 [232]. - The company has been in compliance with all Board-approved policies regarding interest rate risk management as of September 30, 2024 [243]. - The Management Asset-Liability Committee is responsible for evaluating interest rate risk and managing it according to guidelines approved by the Board of Directors [240]. - The company concluded that its disclosure controls and procedures were effective as of September 30, 2024 [249]. Market and Economic Conditions - The estimated change in net present value (NPV) of assets would decrease by $67,431, or 8.80%, with a 400 basis point increase in interest rates [245]. - A 100 basis point increase in interest rates would result in a 4.09% increase in net interest income [245]. - In the event of a 400 basis point decrease in interest rates, the estimated net portfolio value would increase by 19.60%, with a 2.07% increase in net interest income in year one and an 11.68% decrease in year two [243]. - The company's policies state that in the event of a 200 basis point decrease or less in interest rates, the net present value ratio should decrease by no more than 300 basis points and 10% [243]. Internal Controls and Legal Matters - There were no changes in the company's internal control over financial reporting that materially affected its effectiveness during the three months ended September 30, 2024 [250]. - Legal actions arising in the normal course of business are not expected to have a material adverse effect on the company's consolidated financial condition or results of operations [252].

Earnings Performance - Diluted earnings per share for Q3 2024 were $0.16, an increase from $0.14 in Q2 2024 and a decrease from $0.19 in Q3 2023[1] - Net income for the nine months ended September 30, 2024, was $18.7 million, down from $29.4 million for the same period in 2023[4] - Net income for the three months ended September 30, 2024, was $6,523,000, a decrease from $8,181,000 in the same period of 2023, representing a decline of 20%[65] Interest Income and Margin - Net interest income for the nine months ended September 30, 2024, decreased by $10.9 million, or 11.4%, to $84.8 million compared to $95.7 million for the same period in 2023[5] - Total interest income for the three months ended September 30, 2024, was $59,318,000, an increase from $52,736,000 in the same period of 2023, representing a growth of 12%[65] - The net interest margin for the nine months ended September 30, 2024, was 2.07%, down from 2.41% in the same period of 2023[67] Non-Interest Income and Expense - Non-interest income increased by $1.5 million, or 18.7%, to $9.8 million for the nine months ended September 30, 2024[9] - Non-interest income totaled $3,578,000 for the three months ended September 30, 2024, up from $2,121,000 in the same period of 2023, reflecting a growth of 69%[65] - Total non-interest expense was $20,378,000 for the three months ended September 30, 2024, slightly down from $20,567,000 in the same period of 2023[65] Loan and Deposit Trends - Loan balances declined by $27.2 million, or 2.7% annualized, from June 30, 2024, with decreases in commercial, multifamily, and residential real estate loans[1] - Deposits (excluding brokered) decreased by $5.1 million, or less than 1% annualized, from June 30, 2024, but increased by $15.0 million, or 0.5% annualized, from December 31, 2023[1] - Total deposits increased to $3.88 billion in September 2024 from $3.80 billion in June 2024[63] Asset and Liability Management - Total assets increased by $132.5 million, or 2.4%, to $5.73 billion at September 30, 2024, from $5.60 billion at December 31, 2023[26] - Total liabilities increased by $132.3 million, or 2.7%, to $5.03 billion at September 30, 2024, primarily due to an increase in borrowings of $131.6 million[34] - Borrowed funds increased to $1.05 billion at September 30, 2024, from $920.5 million at December 31, 2023, primarily due to a $205.5 million increase in borrowings under the Federal Reserve Bank Term Funding Program[38] Credit Quality - Non-performing loans to total loans increased to 0.75% at September 30, 2024, from 0.42% at June 30, 2024[1] - Provision for credit losses on loans increased by $2.4 million to $2.5 million for the quarter ended September 30, 2024, from a provision of $188,000 for the same quarter in 2023[15] - Non-performing loans totaled $30.4 million, or 0.75% of total loans, an increase from $11.4 million, or 0.27%, at December 31, 2023[46] Shareholder Returns - A cash dividend of $0.13 per share was declared, payable on November 20, 2024, to stockholders of record as of November 6, 2024[3] - The company repurchased 560,683 shares for a cost of $6.3 million, with no remaining capacity under the current repurchase program[1] - The company repurchased 1.8 million shares of its common stock at an average price of $10.03 for a total of $18.1 million during the nine months ended September 30, 2024[41] Efficiency and Ratios - The efficiency ratio improved to 64.07% in September 2024 from 64.65% in June 2024[61] - Return on assets for September 2024 was 0.46%, down from 0.59% in June 2024[61] - Return on equity decreased to 3.74% in September 2024 from 4.74% in June 2024[61]

Core Viewpoint - Northfield Bancorp reported quarterly earnings of $0.16 per share, matching the Zacks Consensus Estimate, but down from $0.19 per share a year ago [1] - The company posted revenues of $31.81 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 1.53% [1] Earnings Performance - Northfield's earnings of $0.16 per share were in line with expectations, while the previous quarter's earnings were $0.17, exceeding the estimate by 21.43% [1][2] - Over the last four quarters, Northfield has surpassed consensus EPS estimates two times [1] Revenue Analysis - The company's revenues of $31.81 million for the recent quarter were unchanged from the previous year and missed the consensus estimate [1] - Northfield has topped consensus revenue estimates three times over the last four quarters [1] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.18 on revenues of $32.85 million, and for the current fiscal year, it is $0.67 on revenues of $127.27 million [4] - The estimate revisions trend for Northfield is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [4] Industry Context - The Financial - Savings and Loan industry, to which Northfield belongs, is currently in the top 22% of over 250 Zacks industries, suggesting a positive outlook for stocks in this sector [5] - Another company in the same industry, Provident Financial, is expected to report quarterly earnings of $0.46 per share, reflecting a year-over-year increase of 21.1% [5]

Northfield Bancorp (NFBK) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. Since a ch ...

STATEN ISLAND, N.Y., Sept. 18, 2024 (GLOBE NEWSWIRE) -- The Northfield Bank Foundation announced today that John P. Connors, Jr. has been named Chair of the Foundation's Board of Directors. Mr. Connors is an attorney admitted to practice in the State and Federal Courts in the States of New York and New Jersey and the District of Columbia, and has been a member of the Northfield Bank Foundation's Board of Directors since 2008. Mr. Connors also serves as a director and former Lead Independent Director of Nort ...