Given its strong balance sheet and liquidity position, Northfield is expected to be able to sustain current capital distributions. This will keep enhancing shareholders' wealth. Image Source: Zacks Investment Research Shares of NFBK have plunged 35.5% over the past six months compared with the industry's decline of 20.3%. Currently, NFBK carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here. As of May 28, 2024, CATY had roughly 72.8 million common sh ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Exact name of registrant as specified in its charter) or (State or other jurisdiction of incorporation or organization) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from __________ to __________ Commission File Number: 001-35791 FORM 10-Q Northfield Bancorp, Inc. ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly ...

EXHIBIT 99.1 PRESS RELEASE DATED APRIL 24, 2024 Company Contact: William R. Jacobs Chief Financial Officer Tel: (732) 499-7200 ext. 2519 FOR IMMEDIATE RELEASE Net interest margin decreased by 60 basis points to 2.03% from 2.63% for the three months ended March 31, 2023. The decrease in net interest margin was primarily due to interest-bearing liabilities repricing at a faster rate than interest-earning assets. The net interest margin was negatively affected by approximately eight basis points for the three ...

NOTABLE ITEMS FOR THE QUARTER INCLUDE: DILUTED EARNINGS PER SHARE WERE $0.15 FOR THE CURRENT QUARTER COMPARED TO $0.19 FOR THE TRAILING QUARTER, AND $0.26 FOR THE FIRST QUARTER OF 2023.NET INTEREST INCOME OF $27.9 MILLION, DECREASED $1.0 MILLION, OR 3.6%, PRIMARILY REFLECTING INCREASED FUNDING COSTS AND LOWER LOAN BALANCES. AVERAGE YIELDS ON INTEREST-EARNING ASSETS INCREASED 17 BASIS POINTS TO 4.27%, WHILE THE AVERAGE COST OF INTEREST-BEARING LIABILITIES INCREASED 37 BASIS POINTS TO 2.89% FOR THE CURRENT QU ...

Part I [Business](index=4&type=section&id=Item%201.%20Business) Northfield Bancorp, Inc. is the holding company for Northfield Bank, a federally chartered savings bank established in 1887, primarily originating multifamily and commercial real estate loans funded by deposits and FHLB borrowings, operating in a competitive and highly regulated environment - Northfield Bank, organized in 1887, operates through **39 branch offices** in New York (Staten Island, Brooklyn) and New Jersey (Hunterdon, Mercer, Middlesex, Union counties)[24](index=24&type=chunk) - The principal business consists of originating multifamily and commercial real estate loans, funded primarily by deposit accounts and FHLB advances[25](index=25&type=chunk)[31](index=31&type=chunk) - The company faces intense competition from traditional banks, credit unions, and non-traditional Fintech companies in its market areas[28](index=28&type=chunk) Loan Portfolio Composition at December 31, 2023 | Loan Type | Amount (in thousands) | Percent of Total | | :--- | :--- | :--- | | Multifamily | $2,750,996 | 65.44% | | Commercial Real Estate | $929,595 | 22.11% | | One-to-four family residential | $160,824 | 3.83% | | Home equity and lines of credit | $163,520 | 3.89% | | Construction and land | $30,967 | 0.74% | | Commercial and industrial | $155,268 | 3.69% | | Other loans | $2,585 | 0.06% | | Purchased credit-deteriorated (PCD) | $9,899 | 0.24% | | **Total loans** | **$4,203,654** | **100.00%** | [Lending Activities](index=7&type=section&id=Lending%20Activities) The company's lending is dominated by real estate loans, with multifamily loans comprising 65.4% ($2.75 billion) and commercial real estate loans 22.1% ($929.6 million) of the total portfolio as of year-end 2023 - Multifamily real estate loans are the largest segment, totaling **$2.75 billion** (65.4% of total loans) at December 31, 2023, typically amortizing over 30 years with interest rates adjusting after an initial 5, 7, or 10-year period[45](index=45&type=chunk)[46](index=46&type=chunk) - Commercial real estate loans, the second-largest category, amounted to **$929.6 million** (22.1% of total loans), with office buildings representing the largest collateral type within this segment at 22.4%[49](index=49&type=chunk)[50](index=50&type=chunk) - Commercial and industrial loans totaled **$155.3 million** (3.7% of total loans), including **$37.4 million** in unsecured small business loans underwritten using a third-party scoring system[58](index=58&type=chunk)[63](index=63&type=chunk) - The company has approximately **$457.8 million** in multifamily loans in New York City subject to rent stabilization or control, which could be impacted by the Housing Stability and Tenant Protection Act of 2019[48](index=48&type=chunk) [Non-Performing and Problem Assets](index=14&type=section&id=Non-Performing%20and%20Problem%20Assets) Total non-performing assets increased to $11.4 million at year-end 2023 from $10.2 million in 2022, with the ratio of non-performing loans to total loans ticking up to 0.27% from 0.24%, and delinquent loans significantly increasing to $8.7 million Non-Performing Assets Trend | Metric | 2023 (in thousands) | 2022 (in thousands) | 2021 (in thousands) | | :--- | :--- | :--- | :--- | | Total non-performing assets | $11,433 | $10,238 | $8,106 | | Non-performing loans to total loans | 0.27% | 0.24% | 0.21% | | Non-performing assets to total assets | 0.20% | 0.18% | 0.15% | - Accruing loans 30 to 89 days delinquent increased to **$8.7 million** in 2023 from **$3.6 million** in 2022, mainly in commercial & industrial loans and one-to-four family residential loans[81](index=81&type=chunk)[82](index=82&type=chunk) - Classified assets (substandard, doubtful, loss), excluding non-accrual loans, consisted of **$29.3 million** in substandard assets at year-end 2023, a slight decrease from **$30.1 million** in 2022[79](index=79&type=chunk) [Allowance for Credit Losses on Loans](index=17&type=section&id=Allowance%20for%20Credit%20Losses%20on%20Loans) The allowance for credit losses (ACL) decreased to $37.5 million at year-end 2023 from $42.6 million in 2022, with the ACL as a percentage of total loans at 0.89% in 2023, and net charge-offs increasing to $6.4 million Allowance for Credit Losses Activity (in thousands) | Metric | 2023 (in thousands) | 2022 (in thousands) | 2021 (in thousands) | | :--- | :--- | :--- | :--- | | Balance at beginning of year | $42,617 | $38,973 | $37,607 | | Provision/(benefit) for credit losses | $1,353 | $4,482 | $(6,184) | | Net charge-offs | $(6,435) | $(838) | $(2,803) | | **Balance at end of year** | **$37,535** | **$42,617** | **$38,973** | - Net charge-offs to average loans outstanding was **0.15%** in 2023, up from **0.02%** in 2022, driven by charge-offs in the commercial and industrial loan portfolio[85](index=85&type=chunk) - The allowance for credit losses to total loans was **0.89%** at Dec 31, 2023, compared to **1.00%** at Dec 31, 2022[85](index=85&type=chunk) [Supervision and Regulation](index=26&type=section&id=Supervision%20and%20Regulation) Northfield Bank is regulated by the OCC and its holding company by the Federal Reserve, both exceeding all regulatory capital requirements and considered 'well capitalized' as of December 31, 2023, while also meeting the Qualified Thrift Lender (QTL) test - Northfield Bank is regulated by the Office of the Comptroller of the Currency (OCC), while the holding company is regulated by the Board of Governors of the Federal Reserve System (FRB)[120](index=120&type=chunk)[121](index=121&type=chunk) - The bank elected to use the alternative 'community bank leverage ratio' (CBLR) framework, with its CBLR at **12.80%** as of December 31, 2023, exceeding the **9.00%** minimum required to be considered well-capitalized[131](index=131&type=chunk)[583](index=583&type=chunk) - The bank is required to meet the Qualified Thrift Lender (QTL) test by maintaining at least **65%** of its portfolio assets in qualified thrift investments, which it satisfied with a ratio of **75.6%** as of December 31, 2023[126](index=126&type=chunk) - The FDIC implemented a special assessment, beginning in Q1 2024, to recover losses from the 2023 bank failures, based on an institution's uninsured deposits as of December 31, 2022[145](index=145&type=chunk) [Risk Factors](index=34&type=section&id=Item%201A.%20Risk%20Factors) The company identifies several material risks, with a significant focus on its concentration in commercial and multifamily real estate lending, which subjects it to additional regulatory scrutiny and credit risk - **Lending Risk:** The company has a significant concentration in multifamily and commercial real estate loans, representing approximately **456.2%** of the Bank's capital, exceeding the **300%** regulatory guidance threshold and inviting heightened regulatory scrutiny[170](index=170&type=chunk)[171](index=171&type=chunk) - **Regulatory & Legislative Risk:** New York's Housing Stability and Tenant Protection Act of 2019, which limits rent increases on regulated apartments, could adversely impact the value and income of properties securing approximately **$457.8 million** of the company's multifamily loans[175](index=175&type=chunk) - **Interest Rate Risk:** The company's balance sheet is liability-sensitive, meaning interest-bearing liabilities reprice faster than interest-earning assets, which has adversely affected and may continue to affect net interest income and profitability in a rising rate environment[205](index=205&type=chunk)[206](index=206&type=chunk) - **Economic & Market Risk:** A decline in economic conditions could reduce loan demand and increase non-performing loans, with additional risks from recent bank failures impacting depositor confidence and potential downgrades of the U.S. credit rating affecting its securities portfolio[198](index=198&type=chunk)[201](index=201&type=chunk)[203](index=203&type=chunk) - **Operational Risk:** The company faces significant operational risks from system failures, security breaches, and cyber-attacks, as it relies heavily on internal and third-party information technology systems[216](index=216&type=chunk)[219](index=219&type=chunk) [Cybersecurity](index=47&type=section&id=Item%201C.%20Cybersecurity) The company maintains a Cybersecurity Risk Management program integrated with its Enterprise Risk Management strategy, guided by frameworks like NIST, overseen by the Board's Compliance and Information Technology (CIT) Committee, and has not experienced any material cybersecurity incidents in the last three fiscal years - The cybersecurity program is based on industry standards like the NIST Cybersecurity Framework and includes risk assessments, third-party penetration testing, and employee training[242](index=242&type=chunk)[244](index=244&type=chunk) - Governance is managed by the Board's CIT Committee, which works with the CISO, CIO, and an independent external cybersecurity consultant, with the CISO providing periodic reports and training to the committee and the full Board[226](index=226&type=chunk)[244](index=244&type=chunk) - The company states that no cybersecurity incident in the last three fiscal years has materially affected its business, results of operations, or financial condition[243](index=243&type=chunk) [Properties](index=48&type=section&id=Item%202.%20Properties) The company operates from its corporate office in Woodbridge, New Jersey, a home office in Staten Island, New York, and 38 additional branch offices across New York and New Jersey, with a net book value of premises, land, and equipment of $24.8 million as of December 31, 2023 - The company has a total of **39 branch offices** plus a corporate office, with the net book value of all premises and equipment at **$24.8 million** at year-end 2023[247](index=247&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=49&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's common stock trades on the NASDAQ Global Select Market under the symbol 'NFBK', and during 2023, the company actively repurchased its shares, completing a $45.0 million program and a $10.0 million program, with a new $7.5 million program approved in November 2023 - The company's common stock (NFBK) is traded on the NASDAQ Global Select Market, with approximately **3,711 holders of record** as of February 26, 2024[252](index=252&type=chunk) - In 2023, the company completed a **$45.0 million** stock repurchase program (started in June 2022) and a **$10.0 million** program (started in June 2023), with a new **$7.5 million** program approved in November 2023[255](index=255&type=chunk) Issuer Purchases of Equity Securities (Q4 2023) | Period | Total Shares Purchased | Average Price Paid per Share ($) | Maximum Dollar Value Remaining ($ thousands) | | :--- | :--- | :--- | :--- | | Oct 2023 | — | $ — | $ — | | Nov 2023 | 319,476 | $9.77 | $4,380 | | Dec 2023 | 111,045 | $11.76 | $3,074 | | **Total Q4** | **430,521** | | | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=51&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Net income for 2023 was $37.7 million, a significant decrease from $61.1 million in 2022, primarily driven by a $33.6 million drop in net interest income due to severe net interest margin compression, as the cost of funds rose much faster than asset yields in the high-rate environment Key Performance Indicators | Metric | 2023 | 2022 | | :--- | :--- | :--- | | Net Income ($ millions) | $37.7 | $61.1 | | Diluted EPS ($) | $0.86 | $1.32 | | Net Interest Income ($ millions) | $124.7 | $158.3 | | Net Interest Margin (%) | 2.35% | 2.97% | | Return on Assets (ROA) (%) | 0.68% | 1.09% | | Return on Equity (ROE) (%) | 5.45% | 8.57% | - The primary driver of lower profitability was a **62 basis point** decrease in net interest margin (to **2.35%**), as the cost of interest-bearing liabilities rose by **156 basis points** while the yield on interest-earning assets increased by only **56 basis points**[309](index=309&type=chunk) - The provision for credit losses decreased to **$1.4 million** from **$4.5 million** in 2022, mainly due to slower loan growth and an improved macroeconomic outlook, despite higher net charge-offs of **$6.4 million** (vs. **$0.8 million** in 2022) from small business loans[310](index=310&type=chunk) [Critical Accounting Policies](index=54&type=section&id=Critical%20Accounting%20Policies) The most critical accounting policy is the Allowance for Credit Losses (ACL) on loans, which requires significant management judgment and complex estimates under the CECL methodology, using a risk rating migration model incorporating five forward-looking economic scenarios from Moody's Analytics over a two-year forecast period - The Allowance for Credit Losses on Loans is identified as the most critical accounting policy due to the significant judgments, assumptions, and complex estimates involved, particularly regarding future economic conditions under the CECL model[275](index=275&type=chunk)[276](index=276&type=chunk) - The company's CECL model uses five weighted macroeconomic scenarios from Moody's Analytics (a baseline, two upside, and two downside) over a two-year reasonable and supportable forecast period, with key economic variables including GDP, unemployment, and property price indices[281](index=281&type=chunk)[282](index=282&type=chunk) - The ACL calculation is sensitive to forecast assumptions; at Dec 31, 2023, using a **100%** weight on the baseline scenario would have decreased the ACL by **$1.4 million**, while reallocating weights from upside to downside scenarios would have increased it by **$2.7 million**[284](index=284&type=chunk) [Comparison of Financial Condition (at Dec 31, 2023 and 2022)](index=57&type=section&id=Comparison%20of%20Financial%20Condition) Total assets remained stable at $5.60 billion, with a significant shift in asset composition as cash and equivalents increased by $183.7 million while available-for-sale securities decreased by $156.7 million, and net loans slightly decreased by $40.0 million to $4.20 billion - Cash and cash equivalents increased by **401.1%** to **$229.5 million**, as management increased on-balance sheet liquidity in response to market volatility[292](index=292&type=chunk) - Net loans decreased by **0.9%** to **$4.20 billion**, driven by a **$73.6 million** decrease in multifamily loans, partially offset by a **$30.3 million** increase in commercial real estate loans[295](index=295&type=chunk) - Deposits decreased by **6.5%** to **$3.88 billion**, primarily due to a **$290.0 million** decrease in brokered deposits, while non-brokered deposits increased by **$18.3 million**[303](index=303&type=chunk) - Borrowed funds increased to **$920.5 million** from **$644.9 million**, including **$94.5 million** drawn from the Federal Reserve's Bank Term Funding Program (BTFP)[304](index=304&type=chunk) [Asset Quality](index=62&type=section&id=Asset%20Quality) Asset quality remained strong in 2023, with non-performing loans increasing slightly to $11.4 million, or 0.27% of total loans, and a notable increase in accruing loans 30-89 days delinquent to $8.7 million, primarily due to stress in the unsecured small business loan portfolio Non-Performing and Delinquent Loans (in thousands) | Category | Dec 31, 2023 (in thousands) | Dec 31, 2022 (in thousands) | | :--- | :--- | :--- | | Non-accrual loans | $10,115 | $9,813 | | Loans 90+ days past due & accruing | $1,318 | $425 | | **Total Non-Performing Loans** | **$11,433** | **$10,238** | | Accruing loans 30-89 days delinquent | $8,683 | $3,644 | - The increase in 30-89 day delinquencies was primarily driven by unsecured small business loans, attributed to rising interest rates and a business slowdown[327](index=327&type=chunk) - The allowance for credit losses to total loans decreased to **0.89%** from **1.00%** at year-end 2022, reflecting slower loan growth and a decrease in reserves on the real estate portfolios[333](index=333&type=chunk) [Management of Market Risk](index=67&type=section&id=Management%20of%20Market%20Risk) The company's primary market risk is interest rate risk, stemming from its asset-liability mismatch where longer-duration assets are funded by shorter-duration liabilities, managed through strategies like originating shorter-term adjustable-rate commercial loans and using longer-term borrowings Interest Rate Sensitivity Analysis at Dec 31, 2023 | Rate Shock (bps) | Change in NPV (%) | Change in NII (Year 1) (%) | | :--- | :--- | :--- | | +400 | -18.29% | -20.93% | | +300 | -14.39% | -15.79% | | +200 | -9.04% | -9.91% | | +100 | -4.27% | -4.52% | | -100 | +3.90% | +2.73% | | -200 | +7.24% | +4.51% | - The company's interest rate risk profile shows significant liability sensitivity, with rising rates projected to negatively impact both NPV and NII, while remaining in compliance with all board-approved interest rate risk policies at year-end[343](index=343&type=chunk)[345](index=345&type=chunk) [Liquidity and Capital Resources](index=69&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity position, enhanced in 2023 in response to systemic market events, with primary liquidity sources including cash, loan and security repayments, deposits, and borrowings from the FHLB and Federal Reserve, and both the company and the bank are considered 'well capitalized' - In response to March 2023 market events, management enhanced liquidity by increasing cash, maximizing pledgeable securities, and borrowing **$94.5 million** under the Federal Reserve's Bank Term Funding Program (BTFP)[349](index=349&type=chunk) - Estimated uninsured deposits (excluding collateralized governmental deposits) were approximately **$869.9 million**, or **22.4%** of total deposits, as of December 31, 2023[352](index=352&type=chunk) - The company has access to approximately **$1.42 billion** in additional liquidity from the FHLB and Federal Reserve Bank discount window[357](index=357&type=chunk) - Both Northfield Bank and Northfield Bancorp, Inc. are considered 'well capitalized' and have elected to use the Community Bank Leverage Ratio (CBLR) framework, with ratios of **12.80%** and **12.58%** respectively, well above the **9.00%** minimum[582](index=582&type=chunk)[583](index=583&type=chunk)[584](index=584&type=chunk) [Financial Statements and Supplementary Data](index=71&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section contains the company's audited consolidated financial statements for the year ended December 31, 2023, and the independent auditor's report from Crowe LLP, which identifies the Allowance for Credit Losses, specifically the forecasting adjustments, as a Critical Audit Matter due to the high degree of judgment involved - The independent auditor, Crowe LLP, issued an unqualified opinion on the financial statements and the effectiveness of internal control over financial reporting for 2023[365](index=365&type=chunk) - The auditor identified the 'Allowance for Credit Losses – Forecast Adjustments to Allowance for Credit Loss on Loans' as a Critical Audit Matter, highlighting the subjective and complex judgments required in forecasting[371](index=371&type=chunk)[375](index=375&type=chunk) Consolidated Balance Sheet Highlights (in thousands) | Account | Dec 31, 2023 (in thousands) | Dec 31, 2022 (in thousands) | | :--- | :--- | :--- | | Total Assets | $5,598,396 | $5,601,293 | | Net Loans Held-for-Investment | $4,166,119 | $4,201,076 | | Total Deposits | $3,878,435 | $4,150,219 | | Total Borrowed Funds | $859,272 | $583,859 | | Total Stockholders' Equity | $699,445 | $701,390 | Consolidated Income Statement Highlights (in thousands) | Account | Year Ended Dec 31, 2023 (in thousands) | Year Ended Dec 31, 2022 (in thousands) | | :--- | :--- | :--- | | Net Interest Income | $124,667 | $158,306 | | Provision for Credit Losses | $1,353 | $4,482 | | Non-interest Income | $11,896 | $7,983 | | Non-interest Expense | $83,450 | $76,948 | | **Net Income** | **$37,669** | **$61,119** | [Controls and Procedures](index=132&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and its internal control over financial reporting as of December 31, 2023, concluding that both were effective, with no material changes reported during the fourth quarter of 2023 - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of December 31, 2023[645](index=645&type=chunk) - Management assessed internal control over financial reporting using the COSO 2013 framework and concluded it was effective as of December 31, 2023[649](index=649&type=chunk) - There were no changes in internal control over financial reporting during the fourth quarter of 2023 that materially affected, or are reasonably likely to materially affect, internal controls[651](index=651&type=chunk) Part III This part of the report, covering directors, executive compensation, security ownership, and related party transactions, is primarily incorporated by reference from the company's 2024 Definitive Proxy Statement, and includes a table detailing securities authorized for issuance under equity compensation plans [Directors, Executive Officers and Corporate Governance](index=133&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information regarding directors, executive officers, and corporate governance matters is incorporated by reference from the company's 2024 Proxy Statement - Details on directors, executive officers, corporate governance, and codes of ethics are incorporated by reference from the 2024 Proxy Statement[654](index=654&type=chunk) [Executive Compensation](index=133&type=section&id=Item%2011.%20Executive%20Compensation) Information regarding director and executive compensation is incorporated by reference from the company's 2024 Proxy Statement - Details on director and executive compensation are incorporated by reference from the 2024 Proxy Statement[656](index=656&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=133&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) This section provides information on equity compensation plans, with 1,544,306 securities to be issued upon exercise of outstanding options at a weighted-average exercise price of $14.05, and 3,355,755 securities remaining available for future issuance under these plans as of December 31, 2023 Equity Compensation Plan Information as of December 31, 2023 | Plan Category | Securities to be Issued Upon Exercise | Weighted-Average Exercise Price ($) | Securities Remaining Available for Future Issuance | | :--- | :--- | :--- | :--- | | Approved by security holders | 1,544,306 | $14.05 | 3,355,755 | | Not approved by security holders | N/A | N/A | N/A | | **Total** | **1,544,306** | **$14.05** | **3,355,755** | Part IV This final part of the report lists the financial statements and all exhibits filed with the Form 10-K, including certifications by the CEO and CFO as required by the Sarbanes-Oxley Act and consents from the company's independent registered public accounting firms [Exhibits and Financial Statement Schedules](index=134&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists all financial statements, schedules, and exhibits filed as part of the annual report, including the company's certificate of incorporation, bylaws, debt indentures, various employment and compensation plan agreements, and required SOX certifications - Lists all filed documents, including financial statements, auditor consents (KPMG LLP and Crowe LLP), and CEO/CFO certifications under Sarbanes-Oxley Sections 302 and 906[661](index=661&type=chunk)[663](index=663&type=chunk)

Financial Performance - Net income for the nine months ended September 30, 2023, was $29.4 million, down from $47.0 million for the same period in 2022, representing a decrease of 37.8%[172] - Basic and diluted earnings per share decreased to $0.67 for the nine months ended September 30, 2023, compared to $1.01 for the same period in 2022, a decline of 33.7%[172] - Net income for the quarter ended September 30, 2023, was $8.2 million, down from $17.0 million in the same quarter of 2022, reflecting a decrease of $8.8 million[204] Assets and Liabilities - Total assets decreased by $164.2 million, or 2.9%, to $5.44 billion at September 30, 2023, from $5.60 billion at December 31, 2022[173] - Total liabilities decreased by $146.9 million, or 3.0%, to $4.75 billion as of September 30, 2023, from $4.90 billion at December 31, 2022[185] - Deposits decreased by $481.7 million, or 11.6%, to $3.67 billion at September 30, 2023, compared to $4.15 billion at December 31, 2022[186] Income and Expenses - Interest income increased by $23.4 million, or 17.9%, to $154.3 million for the nine months ended September 30, 2023, compared to $130.9 million for the same period in 2022[190] - Interest expense increased by $46.6 million, or 389.7%, to $58.6 million for the nine months ended September 30, 2023, compared to $12.0 million for the same period in 2022[191] - Net interest income decreased by $23.2 million, or 19.5%, to $95.7 million for the nine months ended September 30, 2023, from $119.0 million for the same period in 2022[192] - Non-interest income increased by $3.5 million, or 73.6%, to $8.3 million for the nine months ended September 30, 2023, from $4.8 million for the same period in 2022[194] - Non-interest expense increased by $7.2 million, or 13.0%, to $62.5 million for the nine months ended September 30, 2023, compared to $55.3 million for the same period in 2022[196] Interest Rate Risk Management - The estimated change in net portfolio value (NPV) for a 400 basis point increase in interest rates would result in a 17.19% decrease in NPV[243] - A 200 basis point decrease in interest rates would lead to a 4.94% increase in estimated NPV and a 4.53% increase in net interest income in the first year[245] - The company has implemented strategies to manage interest rate risk, including shortening the average term of interest-earning assets[239] - The management asset-liability committee is responsible for evaluating interest rate risk and recommending appropriate risk levels to the board[238] Credit Quality - The provision for credit losses on loans decreased by $2.2 million to $1.1 million for the nine months ended September 30, 2023, compared to $3.3 million for the same period in 2022[193] - Non-performing loans to total loans remained stable at 0.24% as of September 30, 2023, consistent with the previous year[1] - Loans 30 to 89 days delinquent increased to $8,105 million from $3,644 million year-over-year, representing a significant increase of approximately 122.5%[1] Regulatory Compliance - The Community Bank Leverage Ratio (CBLR) for Northfield Bank is 12.94% as of September 30, 2023, exceeding the minimum requirement of 9%[233] - Northfield Bank and Northfield Bancorp, Inc. exceeded all regulatory capital requirements as of September 30, 2023[232] Cash and Liquidity - Cash and cash equivalents increased by $34.8 million, or 75.9%, to $80.6 million at September 30, 2023, primarily due to excess cash from borrowings and proceeds from securities[176] - The Bank has the ability to obtain additional funding from the FHLBNY of approximately $1.35 billion utilizing unencumbered securities and loans[1] - The company expects to have sufficient funds available to meet current commitments in the normal course of business[1] Internal Controls - The company reported no changes in internal control over financial reporting that materially affected its operations during the three months ended September 30, 2023[249] - The management concluded that the company's disclosure controls and procedures were effective as of September 30, 2023[248]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from __________ to __________ Commission File Number: 001-35791 (Former name, former address, and former fiscal year, if changed since last report) Securities registered pursuant ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from __________ to __________ Commission File Number: 001-35791 Northfield Bancorp, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of in ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended December 31, 2022 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _______________ to _________________ Commission File No. 001-35791 Northfield Bancorp, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdictio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from __________ to __________ Commission File Number: 001-35791 Northfield Bancorp, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction o ...