Northfield Bancorp, Inc. Announces New $45.0 Million Stock Repurchase Program
June 17 2022 - 4:30PM
NORTHFIELD BANCORP, INC. (Nasdaq:NFBK) (the
“Company”), the holding company for Northfield Bank, announced
today that its Board of Directors has authorized a new stock
repurchase program of up to $45.0 million of the Company's
outstanding common stock, $.01 par value per share.
The Company anticipates conducting such repurchases beginning on
June 22, 2022, in accordance with a Rule 10b5-1 trading plan. 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 repurchases
may be suspended, terminated or modified at any time for any
reason, including market conditions, the cost of repurchasing
shares, the availability of alternative investment opportunities,
liquidity, and other factors deemed appropriate. These factors may
also affect the timing and amount of share repurchases. The Company
is not obligated to purchase any particular number of shares.
About Northfield Bank and Northfield Bancorp,
Inc.
Northfield Bank, founded in 1887, operates 38 full-service
banking in Staten Island and Brooklyn, New York, and Hunterdon,
Middlesex, Mercer, and Union counties, New Jersey. For more
information about Northfield Bank, please visit
www.eNorthfield.com. The Company’s common shares trade on The
NASDAQ Stock Market under the symbol “NFBK.”
Statement About Forward-Looking Statements
Statements contained in this press release that are not
historical facts may constitute forward-looking statements as that
term is defined in the Private Securities Litigation Reform Act of
1995 and such forward-looking statements are subject to significant
risks and uncertainties. The Company intends such forward-looking
statements to be covered by the safe harbor provisions contained in
the Act. The Company’s ability to predict results or the actual
effect of future plans or strategies is inherently uncertain.
Factors that could have a material adverse effect on the operations
and future prospects of the Company and its subsidiaries include,
but are not limited to, general and local economic conditions; the
scope and duration of the COVID-19 pandemic and its effects on the
Company’s business and that of the Company’s customers; changes in
market interest rates; deposit flows; demand for loans; real estate
values and competition; competitive products and pricing; the
ability of the Company’s customers to make scheduled loan payments;
loan delinquency rates and trends; the Company’s ability to manage
the risks involved in its business; the Company’s ability to
control costs and expenses; inflation, market and monetary
fluctuations; changes in federal and state legislation and
regulation applicable to the Company’s business; actions by the
Company’s competitors; and other factors that may be disclosed in
the Company’s periodic reports as filed with the Securities and
Exchange Commission. These risks and uncertainties should be
considered in evaluating forward-looking statements and undue
reliance should not be placed on such statements. The Company
assumes no obligation to update any forward-looking statements
except as may be required by applicable law or regulation.
Company Contact:William R. JacobsChief Financial OfficerTel:
(732) 499-7200 ext. 2519
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