Northfield Bancorp reports Q1 EPS 15c, consensus 15c

Reports Q1 Net Interest Income $27.9M vs. $28.9M last year and net interest margin of 2.03% vs. 2.63% last year. Commenting on the quarter, CEO Steven M. Klein stated, “The Northfield team continued to successfully manage through the challenges presented by elevated market interest rates and an inverted yield curve. During the quarter we remained focused on deposit gathering, and maintaining non-interest bearing and other lower cost deposit relationships.” Mr. Klein continued, “We delivered solid financial performance during the quarter prudently managing our loan portfolio, maintaining strong asset quality, and managing our expenses. While significant risks remain, including the level of inflation and interest rate movements, we will continue to prudently manage our strong capital and liquidity and focus on our Locally Grown approach to community commercial banking.”