Northfield Bancorp, Inc. (NFBK) 10-Year Financial Performance & Capital Metrics

NFBK • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutNorthfield Bancorp, Inc. (Staten Island, NY) operates as the bank holding company for Northfield Bank that provides various banking services primarily to individuals and corporate customers. It accepts various deposits products, including certificates of deposit, passbook, statement, and money market savings accounts; transaction deposit accounts comprising negotiable orders of withdrawal accounts, and interest and non-interest-bearing checking accounts; individual retirement accounts; and brokered deposits. The company also offers various loans comprising multifamily and other commercial real estate loans, construction and land loans, commercial and industrial loans, one-to-four family residential real estate loans, and home equity loans and lines of credit. In addition, it purchases various investment securities, such as mortgage-backed securities and corporate bonds; and deposits funds in other financial institutions, as well as holds mortgage loans, mortgage-backed securities, and other investments. As of December 31, 2021, the company operated 38 full-service banking offices in Staten Island and Brooklyn, New York; and Hunterdon, Middlesex, Mercer, and Union counties, New Jersey. Northfield Bancorp, Inc. (Staten Island, NY) was founded in 1887 and is headquartered in Woodbridge, New Jersey.Show more

Net Interest Income $111M -8.9%
Total Revenue $251M +13.9%
Net Income $30M -20.5%
Return on Equity 4.27% -20.7%
Net Interest Margin 1.96% -10.0%
Efficiency Ratio 32.96% -13.4%
ROA 0.53% -21.0%
Equity / Assets 12.44% -0.5%
Book Value per Share 16.93 +5.6%
Tangible BV/Share 15.94 +5.7%
Debt/Equity 1.08 -12.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Efficient operations: 33.0% efficiency ratio
✓10 consecutive years of dividend growth
✓Well capitalized: 12.4% equity/assets
✓Healthy dividend yield of 4.4%
✓Share count reduced 4.6% through buybacks

✗Weaknesses

✗Weak NIM of 2.0%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.64%

5Y6.91%

3Y10.41%

TTM-

Profit (Net Income) CAGR

10Y3.98%

5Y-5.74%

3Y-24.88%

TTM46.56%

EPS CAGR

10Y5.79%

5Y-3.27%

3Y-20.81%

TTM51.56%

ROCE

10Y Avg4.34%

5Y Avg4.74%

3Y Avg4.16%

Latest2.51%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	80.92M	102.13M	107.43M	109.56M	110.17M	127.98M	154.37M	157.13M	121.55M	110.78M
NII Growth %	0.07%	0.26%	0.05%	0.02%	0.01%	0.16%	0.21%	0.02%	-0.23%	-0.09%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	100.61M	123.8M	131.41M	145.61M	163.53M	166.32M	171.02M	178.51M	205.68M	234.2M
Interest Expense	19.69M	21.67M	23.98M	36.05M	53.36M	38.34M	16.65M	21.38M	84.13M	123.42M
Loan Loss Provision	353K	635K	1.41M	2.62M	22K	12.74M	-5.88M	3.42M	798K	4.56M
Non-Interest Income+	9.05M	11.24M	13.1M	9.81M	16.43M	13.3M	15.73M	9.16M	15.01M	17.12M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	109.66M	135.04M	144.51M	155.42M	179.95M	179.62M	186.75M	187.67M	220.69M	251.33M
Revenue Growth %	0.09%	0.23%	0.07%	0.08%	0.16%	-0%	0.04%	0%	0.18%	0.14%
Non-Interest Expense	58.11M	72.95M	67.38M	67.04M	73.55M	78.51M	78.85M	78.01M	84M	82.84M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	31.51M	39.8M	51.75M	49.71M	53.02M	50.02M	97.13M	84.86M	51.76M	40.5M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.02%	0.26%	0.3%	-0.04%	0.07%	-0.06%	0.94%	-0.13%	-0.39%	-0.22%
Pretax Income+	31.51M	39.8M	51.75M	49.71M	53.02M	50.02M	97.13M	84.86M	51.76M	40.5M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	11.97M	13.66M	26.98M	9.63M	12.79M	13.04M	26.47M	23.74M	14.09M	10.56M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	19.53M	26.13M	24.77M	40.08M	40.23M	36.99M	70.65M	61.12M	37.67M	29.95M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.04%	0.34%	-0.05%	0.62%	0%	-0.08%	0.91%	-0.13%	-0.38%	-0.21%
Net Income (Continuing)	19.53M	26.13M	24.77M	40.08M	40.23M	36.99M	70.65M	61.12M	37.67M	29.95M
EPS (Diluted)+	0.45	0.57	0.53	0.85	0.85	0.76	1.45	1.32	0.86	0.72
EPS Growth %	0.1%	0.27%	-0.07%	0.6%	0%	-0.11%	0.91%	-0.09%	-0.35%	-0.16%
EPS (Basic)	0.46	0.59	0.55	0.87	0.86	0.76	1.46	1.32	0.86	0.72
Diluted Shares Outstanding	43.48M	45.72M	46.88M	47.11M	47.16M	48.79M	48.75M	46.44M	43.64M	41.63M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	51.85M	96.08M	57.84M	77.76M	147.82M	87.54M	91.07M	45.8M	229.51M	167.74M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	2.9B	3.45B	3.64B	4.04B	4.56B	5.08B	4.99B	5.17B	4.98B	5.12B
Investments Growth %	0.08%	0.19%	0.05%	0.11%	0.13%	0.11%	-0.02%	0.04%	-0.04%	0.03%
Long-Term Investments	2.36B	2.95B	3.13B	3.23B	3.42B	3.81B	3.78B	4.22B	4.19B	4.02B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	16.16M	38.41M	38.41M	38.41M	38.41M	41.32M	41.01M	41.01M	41.01M	41.01M
Intangible Assets	0	0	0	0	0	0	0	0	0	0
PP&E (Net)	23.64M	26.91M	25.75M	25.61M	65.16M	64.93M	59.88M	59.13M	54.97M	49.76M
Other Assets	201.78M	226.44M	219M	217.21M	230.47M	228.24M	210.85M	263.47M	272.34M	272.47M
Total Current Assets	601.71M	604.7M	582.33M	898.75M	1.3B	1.37B	1.31B	1.02B	1.04B	1.29B
Total Non-Current Assets	2.6B	3.25B	3.41B	3.51B	3.75B	4.15B	4.12B	4.59B	4.55B	4.38B
Total Assets+	3.2B	3.85B	3.99B	4.41B	5.06B	5.51B	5.43B	5.6B	5.6B	5.67B
Asset Growth %	0.06%	0.2%	0.04%	0.1%	0.15%	0.09%	-0.02%	0.03%	-0%	0.01%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	558.13M	473.21M	471.55M	408.89M	901.07M	634.52M	461.61M	684.64M	861.2M	760.05M
Net Debt	506.28M	377.12M	413.71M	331.13M	753.25M	546.98M	370.54M	638.85M	631.69M	592.31M
Long-Term Debt	495.13M	464.68M	469.25M	408.85M	782M	516.79M	371.75M	619.86M	800.99M	727.84M
Short-Term Debt	63M	8M	2M	0	75M	75M	50M	25M	25M	0
Other Liabilities	10.86M	12.33M	14.8M	18.01M	20.05M	19.68M	24.91M	26M	159.32M	63.15M
Total Current Liabilities	2.14B	2.75B	2.87B	3.32B	3.51B	4.18B	4.25B	4.21B	3.9B	4.14B
Total Non-Current Liabilities	505.99M	477.54M	484.35M	426.9M	846.12M	579.2M	436.51M	685.64M	995.52M	823.21M
Total Liabilities	2.64B	3.23B	3.35B	3.74B	4.36B	4.76B	4.69B	4.9B	4.9B	4.96B
Total Equity+	559.78M	621.2M	638.88M	666.44M	695.85M	753.98M	739.88M	701.39M	699.45M	704.7M
Equity Growth %	-0.06%	0.11%	0.03%	0.04%	0.04%	0.08%	-0.02%	-0.05%	-0%	0.01%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.03%	0.04%	0.04%	0.06%	0.06%	0.05%	0.09%	0.08%	0.05%	0.04%
Book Value per Share	12.87	13.59	13.63	14.15	14.75	15.45	15.18	15.10	16.03	16.93
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	582K	609K	609K	609K	609K	648K	648K	648K	648K	648K
Additional Paid-in Capital	501.54M	547.91M	548.86M	546.22M	548.49M	590.51M	589.97M	590.25M	590.97M	591.34M
Retained Earnings	256.17M	268.23M	281.14M	302.54M	322.58M	338.09M	381.36M	418.35M	433.23M	440.76M
Accumulated OCI	-2.99M	-4.33M	-5.45M	-9.15M	4.7M	13.16M	2.06M	-48.33M	-32.44M	-20.3M
Treasury Stock	-170.86M	-167.75M	-164.04M	-152.79M	-160.78M	-169.9M	-217.1M	-243.88M	-278.62M	-294.71M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	32.31M	37.7M	43.62M	52.79M	51.15M	55.21M	64.76M	83.33M	46.97M	31.11M
Operating CF Growth %	0.26%	0.17%	0.16%	0.21%	-0.03%	0.08%	0.17%	0.29%	-0.44%	-0.34%
Net Income	19.53M	26.13M	24.77M	40.08M	40.23M	36.99M	70.65M	61.12M	37.67M	29.95M
Depreciation & Amortization	3.6M	4.04M	3.62M	3.35M	8.9M	8.39M	8.48M	8.45M	8.53M	8.3M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	-2.24M	-2.59M	-3.39M	1.8M	-5.42M	8.22M	-11.77M	12.63M	2.82M	-2.01M
Working Capital Changes	2.54M	565K	9.95M	-207K	1.86M	-1.6M	-6.26M	-2.99M	-6.42M	-9.38M
Cash from Investing+	-211.62M	-97.61M	-190.53M	-406.36M	-522.73M	-131.93M	85M	-280.21M	193.87M	-118.49M
Purchase of Investments	-7.66M	-105.86M	-137.63M	-451.17M	-637.96M	0	-752.06M	-180.26M	-73.73M	-1.19B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	55.48M	0	0	0	72.88M	0	0	0	0
Other Investing	-429.1M	-253.66M	-171.39M	-103.31M	-204.48M	-201.74M	53.43M	-444.63M	23.75M	175.8M
Cash from Financing+	154.46M	104.14M	108.66M	373.49M	541.63M	16.44M	-146.23M	151.61M	-57.13M	25.62M
Dividends Paid	-12.18M	-14.07M	-15.65M	-18.67M	-20.2M	-21.48M	-24.3M	-24.13M	-22.8M	-21.83M
Share Repurchases	-48.45M	-2.2M	0	-5K	-15.81M	-10.4M	-53.32M	-30.88M	-37.17M	-18.68M
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-179K	-204K	-224K	-255K	-44K	-1000K	-1000K	1000K	1000K	-1000K
Other Financing	215.26M	120.62M	124.53M	392.43M	577.69M	313.53M	101.42M	145.74M	-272.58M	259M
Net Change in Cash+	-24.86M	44.23M	-38.25M	19.92M	70.06M	-60.27M	3.52M	-45.27M	183.71M	-61.76M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	76.71M	51.85M	96.08M	57.84M	77.76M	147.82M	87.54M	91.07M	45.8M	229.51M
Cash at End	51.85M	96.08M	57.84M	77.76M	147.82M	87.54M	91.07M	45.8M	229.51M	167.74M
Interest Paid	19.74M	22.04M	23.77M	35.82M	51.63M	39.58M	17.45M	19.28M	80.4M	126.79M
Income Taxes Paid	10.8M	14.41M	12.88M	10.37M	11.09M	0	28.48M	22.09M	14.7M	7.36M
Free Cash Flow+	31.51M	36.77M	41.56M	49.91M	47.53M	52.16M	63.12M	80.78M	43.37M	29.95M
FCF Growth %	0.27%	0.17%	0.13%	0.2%	-0.05%	0.1%	0.21%	0.28%	-0.46%	-0.31%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	3.39%	4.43%	3.93%	6.14%	5.91%	5.1%	9.46%	8.48%	5.38%	4.27%
Return on Assets (ROA)	0.63%	0.74%	0.63%	0.95%	0.85%	0.7%	1.29%	1.11%	0.67%	0.53%
Net Interest Margin	2.53%	2.65%	2.69%	2.49%	2.18%	2.32%	2.84%	2.81%	2.17%	1.96%
Efficiency Ratio	52.99%	54.02%	46.62%	43.14%	40.87%	43.71%	42.22%	41.57%	38.06%	32.96%
Equity / Assets	17.48%	16.13%	16.01%	15.12%	13.76%	13.67%	13.62%	12.52%	12.49%	12.44%
Book Value / Share	12.87	13.59	13.63	14.15	14.75	15.45	15.18	15.1	16.03	16.93
NII Growth	7.07%	26.21%	5.19%	1.98%	0.56%	16.17%	20.62%	1.79%	-22.64%	-8.86%
Dividend Payout	62.38%	53.86%	63.17%	46.59%	50.2%	58.06%	34.39%	39.48%	60.51%	72.89%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Bank Servicing	3.31M	2.36M	3.08M	3.38M	3.08M	3.73M
Bank Servicing Growth	-	-28.80%	30.52%	9.92%	-8.73%	20.91%
Debit Card	1.31M	1.33M	1.89M	1.92M	1.93M	1.86M
Debit Card Growth	-	1.22%	42.76%	1.43%	0.63%	-3.93%
Investment Advice	262K	285K	426K	405K	462K	844K
Investment Advice Growth	-	8.78%	49.47%	-4.93%	14.07%	82.68%

Frequently Asked Questions

Valuation & Price

Northfield Bancorp, Inc. (NFBK) has a price-to-earnings (P/E) ratio of 16.6x. This is roughly in line with market averages.

Growth & Financials

Northfield Bancorp, Inc. (NFBK) grew revenue by 13.9% over the past year. This is steady growth.

Yes, Northfield Bancorp, Inc. (NFBK) is profitable, generating $39.4M in net income for fiscal year 2024 (11.9% net margin).

Dividend & Returns

Yes, Northfield Bancorp, Inc. (NFBK) pays a dividend with a yield of 4.38%. This makes it attractive for income-focused investors.

Northfield Bancorp, Inc. (NFBK) has a return on equity (ROE) of 4.3%. This is below average, suggesting room for improvement.

Industry Metrics

Northfield Bancorp, Inc. (NFBK) has a net interest margin (NIM) of 2.0%. NIM has been under pressure due to interest rate environment.

Northfield Bancorp, Inc. (NFBK) has an efficiency ratio of 33.0%. This is excellent, indicating strong cost control.

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