Northfield Bancorp Reports $17.4 Million Net Income for Six Months Ended June 30, 2025

Northfield Bancorp, Inc. reported a net income of $17.4 million for the six months ended June 30, 2025, a significant increase from $12.2 million during the same period in 2024. This growth was primarily driven by a $9.6 million rise in net interest income, attributed to lower funding costs and higher yields on interest-earning assets. Basic and diluted earnings per share rose to $0.43, compared to $0.29 in the prior year. The company's return on average assets improved to 0.62% from 0.42%, while return on average stockholders’ equity increased to 4.97% from 3.52%.

In terms of financial position, total assets increased slightly by $12.9 million, or 0.2%, to $5.68 billion as of June 30, 2025. This was mainly due to a $200.2 million increase in available-for-sale debt securities, which rose to $1.30 billion. However, loans held-for-investment decreased by $101.6 million, or 2.5%, to $3.92 billion, reflecting a strategic focus on managing concentration risk within the commercial and multifamily real estate loan portfolios. The decrease in loans was primarily due to a $114.4 million reduction in multifamily loans, partially offset by increases in one-to-four family residential mortgages and home equity lines of credit.

Operationally, Northfield Bancorp's total liabilities increased by $7.3 million to $4.97 billion, driven by a $165.5 million rise in borrowings, while deposits decreased by $152.3 million. The company reported a decrease in brokered deposits, which fell by 71.5%, indicating a reduced reliance on this funding source. The total stockholders’ equity rose to $710.3 million, up from $704.7 million, supported by net income and an increase in accumulated other comprehensive income.

Looking ahead, Northfield Bancorp anticipates continued focus on managing interest rate risk and maintaining a diversified deposit base. The company has implemented strategies to mitigate risks associated with fluctuating interest rates, including originating loans with shorter maturities and investing in higher-yielding securities. The management remains vigilant in monitoring the economic environment and its potential impact on the company's performance, particularly in light of the ongoing changes in market conditions and regulatory requirements.