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Stock Repurchase Program
12 Months Ended
Dec. 31, 2013
Stock Repurchase Program [Abstract]  
Stock Repurchase Program

(15)Stock Repurchase Program

 

On July 31, 2013, Northfield Bancorp, Inc.’s (the “Company”) Board of Directors authorized the repurchase of up to 300,093 shares of common stock to fund grants of restricted stock under its 2008 Equity Incentive Plan.  The Company has received a non-objection letter from the Federal Reserve Board with respect to these repurchases, and anticipates conducting such repurchases in accordance with a Rule 10b5-1 trading plan.  Federal Reserve Board regulations permit a company to repurchase shares of common stock within one year of a mutual-to-stock conversion to fund an existing restricted stock plan.  

 

As of December 31, 2012, the Company had repurchased a total of 5,417,467 shares of its common stock under its prior repurchase plans at an average price of $12.91 per share.  The above shares have not been restated for the second step conversion completed on January 24, 2013, because they were retired as part of the conversion.