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Dec 31, 2019
Northfield Bancorp Q4 2019 Earnings Report
Net income increased slightly year-over-year, driven by growth in average interest-earning assets and non-interest income.
Key Takeaways
Northfield Bancorp reported net income of $10.1 million, or $0.21 per diluted share, for Q4 2019. The results reflect an increase in net interest income and non-interest income, offset by increases in the provision for loan losses, non-interest expense, and income tax expense. The company also announced a proposed acquisition of VSB Bancorp, Inc.
Diluted earnings per common share were $0.21 for Q4 2019, matching Q4 2018.
Originated loans, net, increased $127.4 million, or 17.8% annualized.
Deposits, excluding brokered deposits, increased $65.6 million, or 8.5% annualized.
The company consolidated three branches effective December 31, 2019.
Northfield Bancorp
Northfield Bancorp
Forward Guidance
This release contains forward-looking statements that are subject to risks and uncertainties. Actual results may differ due to various factors, including economic conditions, competition, and changes in laws and regulations.