NASDAQ$NFBK
Northfield Bancorp Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Net income decreased due to higher funding costs and net interest income decline.
Northfield Bancorp reported a net income of $9.6 million, or $0.22 per diluted share, for the second quarter of 2023. The results were impacted by a decrease in net interest income due to higher funding costs.
- Diluted earnings per share were $0.22, compared to $0.34 in Q2 2022.
- Net interest margin decreased by 29 basis points to 2.34% for the current quarter.
- Loans held-for-investment increased by $32.1 million, or 3.0% annualized, from March 31, 2023.
- Total deposits (excluding brokered) decreased for the current quarter by $102.5 million, or 2.8%.
Headline financials
Revenue & EPS history
Northfield Bancorp · Revenue · Quarterly
$34M
Forward guidance
Company focused on managing cost of funds and net interest margin, while meeting the lending and deposit needs of our customers. The company will continue to prudently manage its strong capital and liquidity and focus on our Locally Grown approach to community commercial banking.
Tailwinds
- Successfully managing through the challenges presented by elevated market interest rates and an inverted yield curve.
- Focused on managing cost of funds and net interest margin.
- Delivered solid financial performance during the quarter.
- Prudently increased our loan portfolio.
- Maintaining strong asset quality, and managing our cost of deposits.
Headwinds
- Significant risks remain, including recession uncertainty.
- Inflation.
- Interest rate movements.
- Net interest margin decreased by 29 basis points to 2.34% for the current quarter.
- Total deposits (excluding brokered) decreased for the current quarter by $102.5 million, or 2.8%.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2023
-0.2%
Avg return
Earnings day
-0.4%
Avg return
5 days after
+0.1%
Avg return
30 days after
54%
35 / 65 earnings
Positive
+11.8%
Q4 2025
Best reaction
-8.6%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.4% | +0.9% | +5.4% | |
| Q4 2025 | +11.8% | +12.6% | +9.3% | |
| Q3 2025 | +1.2% | -1.6% | -3.6% | |
| Q2 2025 | -2.4% | -1.8% | +3.3% | |
| Q1 2025 | -1.7% | -2.5% | -1.2% | |
| Q4 2024 | +4.0% | +2.3% | -0.4% | |
| Q3 2024 | -1.7% | +0.4% | +15.4% | |
| Q2 2024 | +2.1% | +0.2% | -1.8% | |
| Q1 2024 | -7.0% | -4.6% | +1.0% | |
| Q4 2023 | +4.8% | +4.6% | -20.8% | |
| Q3 2023 | +0.1% | -0.6% | +13.0% | |
| Q2 2023 | +2.6% | +0.6% | -12.6% | |
| Q1 2023 | -1.5% | -3.8% | -2.4% | |
| Q4 2022 | -8.6% | -7.4% | -6.7% | |
| Q3 2022 | +0.3% | +3.4% | +1.9% | |
| Q2 2022 | +5.3% | +7.4% | +8.5% | |
| Q1 2022 | +1.3% | -2.3% | -1.4% | |
| Q4 2021 | -6.0% | -6.5% | -6.3% | |
| Q3 2021 | +0.5% | +2.8% | -2.3% | |
| Q2 2021 | +3.3% | +2.5% | +6.3% | |
| Q1 2021 | +0.6% | +1.9% | +4.8% | |
| Q4 2020 | -2.6% | -2.1% | +6.5% | |
| Q3 2020 | -3.0% | -0.7% | +11.1% | |
| Q2 2020 | +1.3% | -6.0% | -6.6% | |
| Q1 2020 | +0.4% | -1.3% | -2.7% | |
| Q4 2019 | -0.6% | -2.5% | -14.5% | |
| Q3 2019 | -1.1% | +0.5% | -0.4% | |
| Q2 2019 | -0.8% | +0.6% | -3.7% | |
| Q1 2019 | +0.2% | +3.5% | +3.7% | |
| Q4 2018 | +0.1% | +1.8% | +4.0% | |
| Q3 2018 | -7.8% | -7.0% | -4.7% | |
| Q2 2018 | -1.0% | -4.6% | -2.1% | |
| Q1 2018 | -2.0% | -1.6% | +2.1% | |
| Q4 2017 | +0.2% | -0.8% | -5.3% | |
| Q3 2017 | +1.4% | -2.4% | -1.0% | |
| Q2 2017 | -3.7% | -1.4% | -5.7% | |
| Q1 2017 | +2.2% | +0.4% | -10.2% | |
| Q4 2016 | -0.2% | -1.3% | +3.4% | |
| Q3 2016 | +0.1% | +1.4% | +16.1% | |
| Q2 2016 | -1.0% | -0.6% | +4.6% | |
| Q1 2016 | -3.5% | — | — | |
| Q4 2015 | +2.7% | — | — | |
| Q3 2015 | +1.3% | — | — | |
| Q2 2015 | -3.6% | — | — | |
| Q1 2015 | +0.0% | — | — | |
| Q4 2014 | -0.2% | — | — | |
| Q3 2014 | +0.4% | — | — | |
| Q2 2014 | +2.0% | — | — | |
| Q1 2014 | +1.3% | — | — | |
| Q4 2013 | -1.6% | — | — | |
| Q3 2013 | +0.3% | — | — | |
| Q3 2012 | +0.3% | — | — | |
| Q2 2013 | -0.2% | — | — | |
| Q2 2012 | -0.2% | — | — | |
| Q1 2012 | +0.4% | — | — | |
| Q1 2013 | -1.1% | — | — | |
| Q4 2010 | +0.4% | — | — | |
| Q4 2011 | +0.4% | — | — | |
| Q4 2012 | +0.4% | — | — | |
| Q3 2011 | -1.2% | — | — | |
| Q2 2011 | -3.1% | — | — | |
| Q1 2011 | +0.6% | — | — | |
| Q3 2010 | -0.1% | — | — | |
| Q2 2010 | +0.9% | — | — | |
| Q1 2010 | -3.0% | — | — |
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