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Mar 31, 2020
Northfield Bancorp Q1 2020 Earnings Report
Diluted earnings per share decreased due to an increase in the provision for incurred loan losses primarily attributable to the impact of the COVID-19 pandemic.
Key Takeaways
Northfield Bancorp reported diluted earnings per common share of $0.10 for the quarter ended March 31, 2020. Net income was $4.6 million for the three months ended March 31, 2020. Net interest income for the three months ended March 31, 2020, increased $2.6 million, or 9.5%.
COVID-19 Response: Approved over 570 Paycheck Protection Program loans totaling over $91 million, helping small business customers retain over 9,500 employees.
COVID-19 Response: Implemented loan relief programs, and suspended certain deposit fees and charges, to support businesses and individuals.
Declared regular quarterly cash dividend of $0.11 per share.
Net interest income increased $1.5 million, or 5.1%, over the trailing quarter and $2.6 million, or 9.5%, over the comparable prior year quarter
Northfield Bancorp
Northfield Bancorp
Forward Guidance
This release may contain certain 'forward looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995.