Northfield Bancorp (NFBK) investor relations material

Executive summary

• Announced a strategic merger agreement with Columbia Financial Inc. and declared a $0.13 per share cash dividend payable in February 2026.

• Reported a net loss of $27.4 million for Q4 2025, primarily due to a $41.0 million non-cash, non-tax deductible goodwill impairment charge; full-year 2025 net income was $796,000.

• Excluding the goodwill impairment, Q4 financial results were strong, with improved net interest margin and asset quality.

Financial highlights

• Net interest income for Q4 2025 rose to $36.7 million, up $2.2 million from the prior quarter and $7.0 million year-over-year.

• Net interest margin increased to 2.70% in Q4 2025, up 16 bps sequentially and 52 bps year-over-year.

• Full-year 2025 net interest income was $137.4 million, up $22.9 million (20%) from 2024, driven by lower funding costs and higher yields.

• Provision for credit losses on loans increased to $7.4 million for 2025, up $3.1 million year-over-year, reflecting a worsening macroeconomic outlook.

• Non-interest expense for 2025 rose by $43.3 million to $129.9 million, mainly due to the goodwill impairment.

• Non-interest income for 2025 was $17.0 million, up slightly from 2024, with higher bank-owned life insurance income and fees offset by lower property sale gains.

Outlook and guidance

• Strategic focus remains on growing non-multifamily loan portfolios and low-cost deposits, with continued emphasis on prudent lending standards and asset quality.