Northfield Bancorp (NFBK) Q1 2026 earnings summary

Executive summary

• Net income for Q1 2026 was $11.8 million, or $0.30 per diluted share, up from $7.9 million, or $0.19 per share, in Q1 2025, and a net loss of $27.4 million in Q4 2025 due to a prior goodwill impairment charge.

• Results included $1.7 million in non-tax deductible merger expenses related to the pending merger with Columbia Financial, Inc.

• Net interest income rose to $37.0 million, up $5.2 million year-over-year and $296,000 sequentially.

• Net interest margin improved to 2.76% from 2.38% a year ago and 2.70% in the prior quarter.

• Deposits (excluding brokered) increased by $83.3 million from year-end 2025; cost of deposits decreased to 1.74%.

• Loan balances declined by $48.8 million, primarily in multifamily loans.

• Asset quality remained strong, with non-performing loans at 0.56% of total loans.

• Quarterly cash dividend of $0.13 per share declared.

Financial highlights

• Net interest income: $37.0 million, up 16.3% year-over-year.

• Net interest margin: 2.76%, up 38 bps year-over-year and 6 bps sequentially.

• Provision for credit losses: $247,000, down from $2.6 million year-over-year and $1.7 million sequentially.

• Non-interest income: $3.4 million, up $390,000 year-over-year, but down $1.3 million sequentially.

• Non-interest expense: $23.3 million, up $1.8 million year-over-year, but down $38.8 million sequentially due to the prior goodwill impairment.

• Return on assets: 0.85% (Q1 2026), up from 0.56% (Q1 2025).

• Return on equity: 6.93% (Q1 2026), up from 4.52% (Q1 2025).

Outlook and guidance

• Merger with Columbia Financial, Inc. is progressing, with focus on regulatory and stockholder approvals and integration planning.