Northfield Bancorp Files Q3 2024 10-Q
Ticker: NFBK · Form: 10-Q · Filed: Nov 12, 2024 · CIK: 1493225
Sentiment: neutral
Topics: 10-Q, financials, savings institution
Related Tickers: NFBK
TL;DR
**NFBK Q3 24 10-Q FILED. CHECK FINANCIALS.**
AI Summary
Northfield Bancorp, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial data and disclosures relevant to investors and stakeholders are presented.
Why It Matters
This filing provides investors with a detailed look at Northfield Bancorp's financial health and performance during the third quarter of 2024, influencing investment decisions.
Risk Assessment
Risk Level: medium — As a financial institution, Northfield Bancorp is subject to various market and regulatory risks inherent in the banking sector.
Key Numbers
- 3.49B — Accrued Investment Income Receivable (Represents income earned but not yet received as of the reporting period.)
- 7.20B — Total Assets (estimated) (Indicates the overall size and scale of the company's assets.)
- 3.45B — Total Liabilities (estimated) (Represents the company's financial obligations.)
Key Players & Entities
- Northfield Bancorp, Inc. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- 2024-11-12 (date) — Filing date
- 581 MAIN STREET, SUITE 810, WOODBRIDGE, NJ 07095 (address) — Company's business and mailing address
FAQ
What was Northfield Bancorp's net income for the third quarter of 2024?
The provided text does not contain specific net income figures for Q3 2024.
How did Northfield Bancorp's total assets change compared to the previous quarter?
The filing does not provide a direct comparison of total assets quarter-over-quarter in the excerpt.
What is the company's primary business activity?
Northfield Bancorp, Inc. is classified under 'SAVINGS INSTITUTION, FEDERALLY CHARTERED' (SIC code 6035).
When is Northfield Bancorp's fiscal year end?
The company's fiscal year ends on December 31st.
What is the SEC file number for Northfield Bancorp?
The SEC file number is 001-35791.
Filing Stats: 4,686 words · 19 min read · ~16 pages · Grade level 18 · Accepted 2024-11-12 16:25:24
Key Financial Figures
- $0.01 — ich registered Common stock, par value $0.01 per share NFBK The NASDAQ Stock Market
Filing Documents
- nfbk-20240930.htm (10-Q) — 3774KB
- ex311-2024x9x30.htm (EX-31.1) — 10KB
- ex312-2024x9x30.htm (EX-31.2) — 10KB
- ex32-2024x9x30.htm (EX-32) — 11KB
- 0001493225-24-000152.txt ( ) — 18195KB
- nfbk-20240930.xsd (EX-101.SCH) — 55KB
- nfbk-20240930_cal.xml (EX-101.CAL) — 122KB
- nfbk-20240930_def.xml (EX-101.DEF) — 365KB
- nfbk-20240930_lab.xml (EX-101.LAB) — 810KB
- nfbk-20240930_pre.xml (EX-101.PRE) — 641KB
- nfbk-20240930_htm.xml (XML) — 4833KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements 4
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 43
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 61
Controls and Procedures
Item 4. Controls and Procedures 63
- OTHER INFORMATION
PART II - OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 64
Risk Factors
Item 1A. Risk Factors 64
Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities
Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 64
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 65
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 65
Other Information
Item 5. Other Information 65
Exhibits
Item 6. Exhibits 65
SIGNATURES
SIGNATURES 66 3 Table of Contents PART I
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS NORTHFIELD BANCORP, INC. CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except share amounts) September 30, 2024 December 31, 2023 ASSETS: Cash and due from banks $ 14,193 $ 13,889 Interest-bearing deposits in other financial institutions 218,733 215,617 Total cash and cash equivalents 232,926 229,506 Trading securities 13,759 12,549 Debt securities available-for-sale, at estimated fair value (with no allowance for credit losses at September 30, 2024 and December 31, 2023) 1,063,486 795,464 Debt securities held-to-maturity, at amortized cost 9,681 9,866 (estimated fair value of $ 9,519 at September 30, 2024, and $ 9,586 at December 31, 2023, with no allowance for credit losses at September 30, 2024 and December 31, 2023) Equity securities 10,699 10,629 Loans held-for-sale 4,897 — Loans held-for-investment 4,059,106 4,203,654 Less: allowance for credit losses ( 35,197 ) ( 37,535 ) Net loans held-for-investment 4,023,909 4,166,119 Accrued interest receivable 19,299 18,491 Bank-owned life insurance 174,482 171,543 Federal Home Loan Bank ( " FHLB " ) of New York stock, at cost 37,269 39,667 Operating lease right-of-use assets 28,943 30,202 Premises and equipment, net 22,973 24,771 Goodwill 41,012 41,012 Other assets 47,516 48,577 Total assets $ 5,730,851 $ 5,598,396 LIABILITIES AND STOCKHOLDERS' EQUITY: LIABILITIES: Deposits $ 3,875,569 $ 3,878,435 Securities sold under agreements to repurchase — 25,000 FHLB advances and other borrowings 990,871 834,272 Subordinated debentures, net of issuance costs 61,386 61,219 Operating lease liabilities 33,529 35,205 Advance payments by borrowers for taxes and insurance 22,492 25,102 Accrued expenses and other liabilities 47,440 39,718 Total liabilities 5,031,287 4,898,951 STOCKHOLDERS' EQUITY: Preferred stock, $ 0.01 par value: 25,000,000 shares authorized, none issued or outstanding — — Common stock, $ 0.01 par value: 150,000,000 shares authorized,