NORTHFIELD BANCORP, INC. : Other Events (form 8-K)
June 02, 2023 at 06:06 am EDT
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Item 8.01. Other Events.
On June 1, 2023, the Board of Directors of the Company approved a new $10.0
million stock repurchase program. The Company anticipates conducting such
repurchases beginning on June 5, 2023, 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.
Northfield Bancorp, Inc. is the holding company for Northfield Bank (the Bank). The Bank is a federally chartered savings bank. The Bank conducts business from its operations center located in Woodbridge, New Jersey, its home main office located at a branch in Staten Island, New York, and its 38 additional branch offices located in New York and New Jersey. The Bank's principal business consists of originating multifamily and commercial real estate loans, construction and land loans, commercial and industrial loans, and home equity loans and lines of credit. It offers a variety of deposit accounts, including certificates of deposit, passbook, statements, and money market savings accounts, transaction deposit accounts, which are Northfield Bankâs primary source of funds for its lending and investing activities. Its principal lending activity is the origination of multifamily real estate loans and other commercial real estate loans in New York, New Jersey, and eastern Pennsylvania.
NORTHFIELD BANCORP, INC. (STATEN ISLAND, NY) 
