ADDED
As of February 27, 2026, there were 41,763,997 outstanding shares of the registrant s common stock.
Treasury and the Federal Reserve Board (the FRB ); the effect of any extended U.S.
Risk Factors contained in this Annual Report on Form 10-K for the year ended December 31, 2025 and in our subsequent filings with the SEC.
If Northfield Bancorp expands or changes its business, it may hire its own employees.
2 Northfield Bank s principal business consists of originating multifamily and commercial real estate loans, construction and land loans, commercial and industrial loans, one-to-four family residential loans and home equity loans and lines of credit.
Merger On January 31, 2026, the Company entered into an Agreement and Plan of Merger (the Merger Agreement ) with Columbia Financial, Inc., a Delaware corporation ( Columbia Financial ), Columbia Financial, Inc., a newly-formed Maryland corporation (the Holding Company ), and Columbia Bank MHC, the parent mutual holding company of Columbia Financial (the MHC ).
Pursuant to the terms of the Merger Agreement and subject to the conditions set forth therein, immediately following the completion of the mutual-to-stock conversion of the MHC (the Conversion ), the Company will merge with and into the Holding Company (the Merger ), with the Holding Company continuing as the surviving corporation.
Immediately following the completion of the Merger, the Holding Company will cause Northfield Bank to merge with and into Columbia Bank, the subsidiary of Columbia Financial, with Columbia Bank continuing as the surviving institution.
The Merger remains subject to the receipt of certain depositor, stockholder and regulatory approvals and the satisfaction of other customary closing conditions.
The Merger is expected to close early in the third quarter of 2026.
REMOVED
As of February 28, 2025, there were 43,116,424 outstanding shares of the registrant s common stock.
If Northfield Bancorp expands or changes its business in the future, it may hire its own employees.
As of that date, we ranked 17th in deposit market share out of 39 institutions with a 0.56% deposit market share in Brooklyn, New York, and we ranked 12th in deposit market share out of 50 financial institutions with a deposit market share of 1.76% in Hunterdon, Mercer, Middlesex and Union counties in New Jersey.
Bureau of Labor Statistics: Unemployment Rate at December 31, 2024 2023 2022 2021 2020 Hunterdon County, NJ 3.2 % 3.5 % 2.3 % 3.5 % 5.5 % Middlesex County, NJ 3.9 4.1 2.7 4.3 6.6 Mercer County, NJ 3.7 3.7 2.5 3.8 6.0 Union County, NJ 4.5 4.7 3.3 5.3 7.8 Richmond County, NY 4.6 4.6 5.0 7.1 9.4 Kings County, NY 5.5 5.4 5.5 8.1 11.3 National Average 4.1 3.7 3.5 3.9 6.7 The following table sets forth median household income at December 31, 2024 and 2023, for the communities we serve and the national average, as published by the U.S.
We also originate one-to-four family residential real estate loans (non-owner occupied investment properties), construction and land loans, and home equity loans and lines of credit.
Our commercial and industrial loans typically are generated through our loan and business development officers and referrals from accountants and other professional contacts.
At December 31, 2024, we had $61.0 million of loan participations that we purchased (where we are not the primary lender).
Loans secured by multifamily properties totaled approximately $2.60 billion, or 64.6% of our total loan portfolio, at December 31, 2024.
At December 31, 2024, we had 1,144 multifamily real estate loans, with an average loan balance of approximately $2.3 million, although there are a large number of loans with balances substantially greater than this average.
7 The following table summarizes our variable-interest multifamily loans by year of repricing (excluding PCD loans) at December 31, 2024: Amount Weighted Average Rate (Dollars in thousands) One year or less $ 287,755 3.65 % After one year through five years 2,052,449 3.96 % After five years through ten years 189,737 4.17 % After ten years 2,226 3.55 % $ 2,532,167 3.94 % Commercial Real Estate Loans.