Northfield Bancorp, Inc. Announces Stock Repurchase Program
October 27 2010 - 7:45PM
Northfield Bancorp, Inc. (the "Company") (Nasdaq:NFBK), the holding
company for Northfield Bank, announced that on October 27, 2010,
the Board of Directors of the Company authorized a stock repurchase
program pursuant to which the Company intends to repurchase up to
2,177,033 shares, representing approximately 5% of its outstanding
shares. The timing of the repurchases will depend on certain
factors, including but not limited to, market conditions and
prices, the Company's liquidity and capital requirements, and
alternative uses of capital. Any repurchased shares will be
held as treasury stock and will be available for general corporate
purposes. The Company anticipates conducting such repurchases
in accordance with a Rule 10b5-1 trading plan.
About Northfield Bancorp, Inc.
Northfield Bancorp, Inc. is the federally chartered stock
holding company for Northfield Bank. Northfield Bank was
organized in 1887 and operates 19 offices in the New York Counties
of Richmond (Staten Island) and Kings (Brooklyn) and the New Jersey
Counties of Union and Middlesex. For additional information
about Northfield Bancorp, Inc. or Northfield Bank, please visit
www.eNorthfield.com.
Forward-Looking Statements: This release may
contain certain "forward looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995, and may be
identified by the use of such words as "may," "believe," "expect,"
"anticipate," "should," "plan," "estimate," "predict," "continue,"
and "potential" or the negative of these terms or other comparable
terminology. Examples of forward-looking statements include,
but are not limited to, estimates with respect to the financial
condition, results of operations and business of Northfield
Bancorp, Inc. Any or all of the forward-looking statements in
this release and in any other public statements made by Northfield
Bancorp, Inc. may turn out to be wrong. They can be affected
by inaccurate assumptions Northfield Bancorp, Inc. might make or by
known or unknown risks and uncertainties as described in our SEC
filings, including, but not limited to, those related to general
economic conditions, particularly in the market areas in which the
Company operates, competition among depository and other financial
institutions, changes in laws or government regulations or policies
affecting financial institutions, including changes in regulatory
fees and capital requirements, inflation and changes in the
interest rate environment that reduce our margins or reduce the
fair value of financial instruments, our ability to successfully
integrate acquired entities, if any, and adverse changes in the
securities markets. Consequently, no forward-looking statement
can be guaranteed. Northfield Bancorp, Inc. does not intend to
update any of the forward-looking statements after the date of this
release, or conform these statements to actual events.
CONTACT: Northfield Bancorp, Inc.
Investor Relations
Eileen Bergin
(732) 499-7200 ext. 2613
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