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Northfield Bancorp Q1 2025 Earnings Report
Northfield Bancorp reported a decrease in net income for Q1 2025 compared to the trailing quarter, primarily due to a gain on sale of property in the prior quarter, but an increase compared to Q1 2024 due to higher net interest income.
Key Takeaways
Northfield Bancorp, Inc. reported net income of $7.9 million for the first quarter of 2025, resulting in diluted earnings per share of $0.19. This represents a decrease from the trailing quarter's net income of $11.3 million and diluted EPS of $0.27, but an increase from the first quarter of 2024's net income of $6.2 million and diluted EPS of $0.15. The net interest margin improved to 2.38% for the current quarter.
Diluted earnings per share for Q1 2025 were $0.19, down from $0.27 in the trailing quarter but up from $0.15 in Q1 2024.
Net interest margin increased to 2.38% in Q1 2025, reflecting lower funding costs and higher yields on interest-earning assets.
Deposits (excluding brokered) increased by $133.6 million, or 13.8% annualized, from December 31, 2024.
The Board of Directors approved a $10.0 million share repurchase plan on April 23, 2025, and declared a cash dividend of $0.13 per common share.
Forward Guidance
The Company expects to maintain sufficient funds to meet current commitments and manage its commercial real estate concentration risk, while continuing to focus on growing its franchise and delivering solid financial performance.
Positive Outlook
- Continued focus on growing the franchise and deploying a strong capital base.
- Commitment to serving communities and reducing funding costs.
- Efforts to increase yield on interest-earning assets, leading to higher net interest income and margin.
- Prudent management of operating expenses and maintenance of strong asset quality.
- Management of strong capital levels through dividends and stock repurchases.
Challenges Ahead
- Regulatory requirements could lead to additional policies or higher capital levels due to commercial real estate concentration risk.
- Potential adverse effects on loan originations if higher regulatory capital is required.
- Potential impact on the Company's ability to pay dividends if higher regulatory capital is required.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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