Net interest income has recovered to $37.0 million in 2026Q1, yet the net interest margin remains stagnant at 0.6%, indicating ongoing pressure on core profitability.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'99 |
|---|
| Net Interest Income | 141.1M | 137.37M | 110.78M | 121.55M | 157.13M | 154.37M | 127.98M | 110.17M | 109.56M | 107.43M | 102.13M | 80.92M | 75.58M | 74.99M | 68.3M | 65.17M | 61.73M | 56.19M | 46.14M | 36.87M | 36.46M | 42.07M | 1.54M |
| NII Growth % | 91.91% | 24% | -8.86% | -22.64% | 1.79% | 20.62% | 16.17% | 0.56% | 1.98% | 5.19% | 26.21% | 7.07% | 0.79% | 9.78% | 4.82% | 5.56% | 9.86% | 21.78% | 25.16% | 1.11% | -13.33% | 2637.02% | - |
| Net Interest Margin % | 2.46% | 2.39% | 1.96% | 2.17% | 2.81% | 2.84% | 2.32% | 2.18% | 2.49% | 2.69% | 2.65% | 2.53% | 2.5% | 2.77% | 2.43% | 2.74% | 2.75% | 2.81% | 2.62% | 2.66% | 2.82% | 2.99% | 2.87% |
| Interest Income | 250.48M | 249.1M | 234.2M | 205.68M | 178.51M | 171.02M | 166.32M | 163.53M | 145.61M | 131.41M | 123.8M | 100.61M | 90.93M | 91.93M | 90.95M | 91.02M | 86.14M | 85.17M | 74.4M | 65.7M | 64.87M | 66.3M | 3.47M |
| Interest Expense | 109.37M | 111.73M | 123.42M | 84.13M | 21.38M | 16.65M | 38.34M | 53.36M | 36.05M | 23.98M | 21.67M | 19.69M | 15.35M | 16.95M | 22.64M | 25.41M | 24.41M | 28.98M | 28.26M | 28.84M | 28.41M | 24.23M | 1.94M |
| Loan Loss Provision | 4.49M | 7.4M | 4.56M | 798K | 3.42M | -5.88M | 12.74M | 22K | 2.62M | 1.41M | 635K | 353K | 645K | 1.93M | 3.54M | 12.59M | 10.08M | 9.04M | 5.08M | 1.44M | 235K | 1.63M | 41 |
| Non-Interest Income | 15.36M | -64.85M | 17.12M | 15.01M | 9.16M | 15.73M | 13.3M | 16.43M | 9.81M | 13.1M | 11.24M | 9.05M | 9.23M | 10.7M | 9.18M | 8.28M | 7.2M | 5.97M | 6.8M | 9.48M | 4.6M | 4.35M | -1.51M |
| Non-Interest Income % | 5.78% | -35.19% | 6.81% | 6.8% | 4.88% | 8.42% | 7.4% | 9.13% | 6.31% | 9.07% | 8.33% | 8.25% | 9.22% | 10.42% | 9.17% | 8.33% | 7.71% | 6.55% | 8.38% | 12.61% | 6.62% | 6.16% | -76.74% |
| Total Revenue | 265.84M | 184.25M | 251.33M | 220.69M | 187.67M | 186.75M | 179.62M | 179.95M | 155.42M | 144.51M | 135.04M | 109.66M | 100.16M | 102.63M | 100.13M | 99.29M | 93.34M | 91.14M | 81.2M | 75.18M | 69.47M | 70.66M | 1.96M |
| Revenue Growth % | 21.28% | -26.69% | 13.88% | 17.59% | 0.49% | 3.97% | -0.19% | 15.78% | 7.55% | 7.01% | 23.15% | 9.48% | -2.41% | 2.5% | 0.84% | 6.38% | 2.41% | 12.23% | 8.01% | 8.22% | -1.68% | 3496.63% | - |
| Non-Interest Expense | 132.26M | 48.07M | 82.84M | 84M | 78.01M | 78.85M | 78.51M | 73.55M | 67.04M | 67.38M | 72.95M | 58.11M | 52.04M | 53.87M | 49M | 37.97M | 38.68M | 34.43M | 24.85M | 35.95M | 23.82M | 21.26M | -575.33K |
| Efficiency Ratio | 49.75% | 26.09% | 32.96% | 38.06% | 41.57% | 42.22% | 43.71% | 40.87% | 43.14% | 46.62% | 54.02% | 52.99% | 51.96% | 52.49% | 48.94% | 38.24% | 41.45% | 37.78% | 30.61% | 47.82% | 34.29% | 30.09% | -29.29% |
| Operating Income | 19.71M | 17.05M | 40.5M | 51.76M | 84.86M | 97.13M | 50.02M | 53.02M | 49.71M | 51.75M | 39.8M | 31.51M | 32.12M | 29.88M | 24.95M | 23.32M | 20.16M | 18.69M | 23.01M | 8.95M | 17.01M | 23.54M | 604.8K |
| Operating Margin % | 7.41% | 9.25% | 16.11% | 23.45% | 45.22% | 52.01% | 27.85% | 29.46% | 31.99% | 35.81% | 29.47% | 28.73% | 32.07% | 29.12% | 24.92% | 23.49% | 21.6% | 20.51% | 28.34% | 11.91% | 24.48% | 33.31% | 30.79% |
| Operating Income Growth % | - | -57.9% | -21.75% | -39% | -12.63% | 94.16% | -5.65% | 6.66% | -3.93% | 30.03% | 26.31% | -1.92% | 7.49% | 19.79% | 6.98% | 15.66% | 7.87% | -18.77% | 157.06% | -47.37% | -27.73% | 3791.39% | - |
| Pretax Income | 23.11M | 17.05M | 40.5M | 51.76M | 84.86M | 97.13M | 50.02M | 53.02M | 49.71M | 51.75M | 39.8M | 31.51M | 32.12M | 29.88M | 24.95M | 23.32M | 20.16M | 18.69M | 23.01M | 8.95M | 17.01M | 23.54M | 604.8K |
| Pretax Margin % | 8.7% | 9.25% | 16.11% | 23.45% | 45.22% | 52.01% | 27.85% | 29.46% | 31.99% | 35.81% | 29.47% | 28.73% | 32.07% | 29.12% | 24.92% | 23.49% | 21.6% | 20.51% | 28.34% | 11.91% | 24.48% | 33.31% | 30.79% |
| Income Tax | 18.35M | 16.25M | 10.56M | 14.09M | 23.74M | 26.47M | 13.04M | 12.79M | 9.63M | 26.98M | 13.66M | 11.97M | 11.86M | 10.74M | 8.92M | 6.5M | 6.37M | 6.62M | 7.18M | -1.55M | 6.17M | 10.38M | 234.44K |
| Effective Tax Rate % | 79.39% | 95.33% | 26.06% | 27.22% | 27.98% | 27.26% | 26.06% | 24.12% | 19.38% | 52.14% | 34.34% | 38.01% | 36.91% | 35.93% | 35.74% | 27.86% | 31.59% | 35.41% | 31.21% | -17.37% | 36.25% | 44.09% | 38.76% |
| Net Income | 4.76M | 796K | 29.95M | 37.67M | 61.12M | 70.65M | 36.99M | 40.23M | 40.08M | 24.77M | 26.13M | 19.53M | 20.27M | 19.15M | 16.03M | 16.82M | 13.79M | 12.07M | 15.83M | 10.51M | 10.84M | 13.16M | 379.34K |
| Net Margin % | 1.79% | 0.43% | 11.91% | 17.07% | 32.57% | 37.83% | 20.59% | 22.36% | 25.79% | 17.14% | 19.35% | 17.81% | 20.23% | 18.66% | 16.01% | 16.94% | 14.78% | 13.25% | 19.5% | 13.98% | 15.61% | 18.62% | 19.31% |
| Net Income Growth % | -84.93% | -97.34% | -20.5% | -38.37% | -13.5% | 91.02% | -8.07% | 0.39% | 61.82% | -5.21% | 33.79% | -3.63% | 5.84% | 19.44% | -4.71% | 21.97% | 14.24% | -23.73% | 50.67% | -3.09% | -17.61% | 3368.95% | - |
| Net Income (Continuing) | 4.76M | 796K | 29.95M | 37.67M | 61.12M | 70.65M | 36.99M | 40.23M | 40.08M | 24.77M | 26.13M | 19.53M | 20.27M | 19.15M | 16.03M | 16.82M | 13.79M | 12.07M | 15.83M | 10.51M | 10.84M | 13.16M | 370.36K |
| EPS (Diluted) | 0.12 | 0.02 | 0.72 | 0.86 | 1.32 | 1.45 | 0.76 | 0.85 | 0.85 | 0.53 | 0.57 | 0.45 | 0.41 | 0.34 | 0.29 | 0.42 | 0.33 | 0.28 | 0.37 | -0.03 | 0.04 | 0.05 | 0.86 |
| EPS Growth % | -84.21% | -97.25% | -16.28% | -34.85% | -8.97% | 90.79% | -10.59% | 0% | 60.38% | -7.02% | 26.67% | 9.76% | 20.59% | 17.24% | -30.95% | 27.27% | 17.86% | -24.32% | 1333.33% | -167.57% | -17.63% | -93.73% | - |
| EPS (Basic) | - | 0.02 | 0.72 | 0.86 | 1.32 | 1.46 | 0.76 | 0.86 | 0.87 | 0.55 | 0.59 | 0.46 | 0.41 | 0.35 | 0.30 | 0.42 | 0.33 | 0.28 | 0.37 | -0.03 | 0.05 | 0.06 | 0.89 |
| Diluted Shares Outstanding | 39.92M | 40.17M | 41.63M | 43.64M | 46.44M | 48.75M | 48.79M | 47.16M | 47.11M | 46.88M | 45.72M | 43.48M | 50.03M | 55.56M | 55.12M | 40.53M | 41.67M | 43.12M | 43.13M | 44.75M | 244.13M | 244.13M | 441.13M |
CRE Concentration and NIM
According to the provided quarterly data, Northfield Bancorp's net interest income has demonstrated a recovery trend, climbing from $26.9 million in 2024Q1 to $37.0 million by 2026Q1, suggesting that the bank is successfully navigating the current interest rate environment despite earlier periods of significant contraction.
The recent expansion in NII appears to reflect a stabilization in funding costs or a successful repricing of the loan portfolio. Investors should monitor whether this growth is sustainable or if it remains vulnerable to further deposit beta pressures in the competitive NYC-metro market.
As reported in financial statements, Northfield Bancorp's net interest margin has remained stagnant at 0.6% for the majority of the observed period, indicating that the bank is struggling to expand its interest spread despite the recent upward trajectory in absolute net interest income figures.
This persistent margin compression suggests that the bank's asset yields are not keeping pace with the rising cost of deposits. The lack of NIM expansion warrants further investigation into the bank's asset-liability management and the potential for long-term structural margin impairment.
Based on the bank's reported figures, the efficiency ratio experienced a dramatic spike to 91.5% in 2025Q4, a significant deviation from the more typical 30-40% range observed in other quarters, which suggests substantial operational or non-recurring expense pressures during that specific reporting period.
The extreme fluctuation in the efficiency ratio implies that the bank's operating leverage is currently unstable and highly sensitive to non-interest expense volatility. Analysts should interpret this as a potential indicator of underlying operational challenges that could threaten future profitability if not effectively managed.
Data from the income statement shows that provision expenses have fluctuated significantly, ranging from a negative $515,000 in 2024Q2 to a peak of $2.7 million in 2025Q1, which suggests that management's assessment of credit risk remains highly sensitive to evolving economic conditions in the NYC-metro area.
The inconsistency in provision levels may indicate a reactive approach to credit loss estimation rather than a proactive one. This volatility makes it difficult to ascertain the true underlying credit quality of the multifamily and CRE loan portfolios, necessitating a cautious outlook on future earnings.
As indicated by the 2025Q4 net loss of $27.4 million, Northfield Bancorp's earnings quality appears fragile, with the bank's reliance on interest-sensitive assets potentially exposing it to significant downside risk if the current interest rate environment fails to provide the expected relief for its margin profile.
The sharp swing from profitability to a significant quarterly loss suggests that the bank's business model is currently susceptible to shocks that could erode tangible book value. Investors should monitor the sustainability of the recent earnings rebound, as it may be masking deeper structural vulnerabilities in the loan book.
Quick answers to the most common questions about buying NFBK stock.
Northfield Bancorp, Inc. (NFBK) is profitable, generating $0.8M in net income for the fiscal year ending 2025 with a net profit margin of 0.4%.
Northfield Bancorp, Inc. (NFBK) reported an operating income of $17.1M, resulting in an operating profit margin of 9.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Northfield Bancorp, Inc. (NFBK) generated $65.1M in gross profit for the year, representing a gross profit margin of 35.3%. This demonstrates the company's core pricing power and production efficiency.