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Jun 30, 2022
Northfield Bancorp Q2 2022 Earnings Report
Reported strong financial performance driven by loan growth and managed expenses.
Key Takeaways
Northfield Bancorp reported a diluted EPS of $0.34 for Q2 2022, compared to $0.40 for Q2 2021. Net income for the quarter was $15.9 million, down from $19.8 million in the prior year. The net interest margin increased by 16 basis points to 3.03% compared to the trailing quarter.
Diluted earnings per share were $0.34 for the current quarter as compared to $0.30 for the trailing quarter, and $0.40 for the second quarter of 2021.
Net interest margin increased by 16 basis points to 3.03% compared to 2.87% for the trailing quarter, and by seven basis points compared to 2.96% for the second quarter of 2021.
Loans held-for-investment, excluding Paycheck Protection Program (“PPP”) loans, increased $225.7 million, or 23.3% annualized, during the quarter.
Total transaction deposits increased $28.3 million, or 5.2% annualized, during the quarter.