Northfield Bancorp 10-K: $249.1M Interest Income, $0.02 Diluted EPS

Northfield Bancorp reported interest income of $249.1 million for the year, with net interest income of $137.4 million (net interest margin 2.55%) and diluted net income per share of $0.02; net income was $0.796 million, burdened by a $41.0 million goodwill impairment charge. Total non-interest income was $16.95 million, and the company highlighted shifts in its securities and deposit mix as part of its funding and margin strategy. The results reflect portfolio reallocation into higher-yielding mortgage-backed securities and increased provisioning amid a softer macro outlook. Financial Highlights Interest income: $249.1 millionNet interest income: $137.4 million (net interest margin 2.55%)Net income: $0.796 million (impacted by a $41.0 million goodwill impairment)Net income per common share - diluted: $0.02 per shareNon-interest income: $16.95 million (includes $7.07 million bank-owned life insurance income and trading gains) Business Highlights Revenue growth & margin expansion: Net interest income rose by $22.9 million driven by higher yields and a 45 basis-point increase in net interest margin, reflecting asset repricing efforts.Securities & portfolio shift: Management reallocated cash into higher-yielding mortgage-backed securities, increasing available-for-sale securities by $311.6 million and reducing multifamily loan concentration.Deposit & funding channel shift: The company reduced reliance on brokered deposits, grew core transaction accounts, and used borrowings to manage liquidity and interest-rate positioning.Credit & loss management: CECL reserves were increased in response to a weaker macro outlook; the company maintained low net charge-offs and proactively managed multifamily concentration risk.Operational investments & staffing: Northfield Bancorp expanded headcount and incurred higher compensation, and invested in digital banking conversion and core system costs to support growth and service delivery.Original SEC Filing: Northfield Bancorp, Inc. [ NFBK ] - 10-K - Mar. 02, 2026DisclaimerThis is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.