Northfield Bancorp reports Q2 EPS 14c, consensus 14c

Reports Q2 NII $28.6M, consensus $28.09M. Tangible book value per share was $15.00 at quarter’s end from $14.78 at previous period end. CEO Steven Klein stated, “In Q2, the Northfield team remained focused on the fundamentals of serving our communities, developing and building on relationships, and improving upon our efficiencies. We delivered solid financial performance for the quarter prudently managing loan and deposit balances, maintaining strong asset quality, and managing our expenses, and while significant risks remain, including the level of inflation and interest rate movements, we have effectively managed our cost of funds, and with assets repricing higher, net interest income increased as compared to the prior quarter. We will continue to prudently manage our strong capital and liquidity and focus on our Locally Grown approach to community commercial banking, and I am pleased to announce that the Board of Directors has declared a cash dividend of 13c per common share, payable on August 21, 2024, to stockholders of record on August 7, 2024.”