Northfield Bancorp, Inc. Announces Continuance of Its Stock Repurchase Program
September 09 2011 - 4:33PM
Northfield Bancorp, Inc. (the "Company") (Nasdaq:NFBK), the holding
company for Northfield Bank announced that on September 9, 2011,
the Board of Directors of the Company authorized the continuance of
its stock repurchase program. Under the program, the Company
intends to repurchase up to 2,066,379 additional shares,
representing approximately 5.0% of its outstanding shares following
the repurchase of the 96,067 shares that remained authorized
of the 2,177,033 for repurchase under the existing stock repurchase
program announced on October 27, 2010. 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 21 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: Company Contact:
Eileen Bergin
Investor Relations
Tel: (732) 499-7200 ext. 2515
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