Company Overview
Northfield Bank is a prominent regional financial institution headquartered in Staten Island, New York. It operates primarily in the Staten Island, Brooklyn, and New Jersey areas, ranking as the 22nd largest bank in New York and 259th in the United States. The bank offers a comprehensive suite of personal and commercial banking services, with a commitment to online and mobile banking through features such as Zelle, simply free checking, and investment services. Northfield Bank is insured by the FDIC, providing deposit security guaranteed by the U.S. Government.
Northfield Bank operates under the parent company Northfield Bancorp, Inc. (NASDAQ: NFBK), with a focus on the "thrifts & mortgage finance" sector.
Leadership and Key Figures
- Steven M. Klein: Chairman, President, and CEO. Klein directs strategic planning and operations, including lending, deposits, and branch activities. Formerly an audit partner at KPMG LLP, he holds a Bachelor's in Business Administration from Montclair State University and is a Certified Public Accountant in New Jersey. He is active in industry and community boards, including the Northfield Bank Foundation.
- David V. Fasanella: Executive Vice President and Chief Lending Officer. He develops strategies to enhance the bank's lending portfolio.
- William R. Jacobs: Executive Vice President and Chief Financial Officer. Jacobs, a part of Northfield Bank since 2006, contributes extensively to financial operations.
- Robin Lefkowitz, MBA: Executive Vice President, responsible for Branch Administration, Deposit Operations, and Business Development. She has an MBA from Wagner College.
- Vickie Tomasello, CPA: Executive Vice President and Chief Risk Officer, focusing on risk management and governance, with over 25 years of experience in risk, audit, and compliance.
Products and Services
Northfield Bank provides a diverse range of financial products and services, including:
- Online and Mobile Banking: 24/7 access for account management, bill payments, and check deposits.
- Investment Services: Provided through Northfield Investment Services with offerings like securities and advisory services via LPL Financial.
- Commercial Banking: Includes checking accounts, loans, and cash management solutions.
Community Engagement
The Northfield Bank Foundation supports community projects in education, health, human services, and affordable housing within its operating regions.
Locations and Contact Information
- Home Office: 4142 Hylan Boulevard, Staten Island, NY 10308
- Operations Center: 581 Main Street, Suite 810, Woodbridge, NJ 07095
- Contact Number: (833) 301-NFBK
- Website: [Northfield Bank](https://www.enorthfield.com/)
Competitor Analysis
Northfield Bank competes with several financial institutions within the regional bank category:
1. Northwest Bancshares, Inc. (NASDAQ: NWBI)
- Headquarters: Warren, PA
- Market Cap: $1.58 billion
- Net Income: $352.78 million
- Employees: 2,165
2. Dime Community Bancshares, Inc. (NASDAQ: DCOM)
- Headquarters: Hauppauge, NY
- Market Cap: $1.33 billion
- Employees: Over 800
3. Berkshire Hills Bancorp, Inc. (NYSE: BHLB)
- Headquarters: Boston, MA
- Market Cap: $1.20 billion
- Employees: 1,340
4. Brookline Bancorp, Inc. (NASDAQ: BRKL)
- Headquarters: Boston, MA
- Market Cap: $1.03 billion
- Employees: 1,018
5. OceanFirst Financial Corp. (NASDAQ: OCFC)
- Headquarters: Red Bank, NJ
- Market Cap: $1.03 billion
- Employees: 975
Financial Comparisons
Northfield Bancorp, Inc. maintains a market cap of $492.15 million and a net income of $29.94 million. The bank's services heavily focus on residential and commercial real estate loans, aligning closely with competitors. Its price-to-earnings (P/E) ratio stands at 15.93.
- Dividend Yield: Approximately 4.51%
- 1-Year Stock Performance: Increase of 15.28%
Strategic Insights
Northfield Bancorp's competitive edge lies in community banking and real estate loans. It may benefit from expanding digital services and enhancing customer-facing innovations to capture broader demographics. Sustaining a solid dividend yield can attract and retain investor interest, potentially supporting continual stock market performance. Prioritizing corporate governance and aligning with industry best practices will be key for future growth.
