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Stock impact report

Northfield Bancorp's New York Presence And Multifamily Portfolio To Raise Credit Quality Worries [Seeking Alpha]

Northfield Bancorp, Inc. (NFBK) 
Last northfield bancorp, inc. earnings: 4/29 06:58 pm Check Earnings Report
Company Research Source: Seeking Alpha
Earnings of Northfield Bancorp, Inc. (NFBKNew York's Lockdown, Multifamily Loan Portfolio to Drive Provisions ExpensesNFBK's provisions expenses will likely surge this year because of the COVID-19 pandemic and the lockdown. The company operates in the states of New York and New Jersey, which are hard-hit by the COVID-19 pandemic. New York, in particular, is theepicenter of the outbreaknews reportsMoreover, NFBK focuses on the multifamily loan segment, which made up around 64% of total loans at the end of 2019. The credit quality of this segment will suffer from heightened unemployment and risks of the financial insolvency of renters. Nearly a third of renters in the US did not pay rent for April, according toVSB Bancorp Acquisition to Drive Net Interest IncomeDue to the asset and liability mix, the decline in interest rates will affect the average yield slightly more than the average funding cost. Consequently, the net interest margin, NIM, will face slight pressure this year. The mul Show less Read more
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