XML 34 R25.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Parent-Only Financial Information | 12 Months Ended
--- | ---
Dec. 31, 2013
Parent-Only Financial Information [Abstract] |
Parent-Only Financial Information | (18)Parent-only Financial Information The following condensed parent company only financial information reflects Northfield Bancorp, Inc.’s investment in its wholly-owned consolidated subsidiary, Northfield Bank, using the equity method of accounting. Northfield Bancorp, Inc. Condensed Balance Sheets
| December 31,
| 2013 |  | 2012
| (in thousands)
Assets |  |  |
Cash in Northfield Bank | $ 141,331 |  | $ 7,541
Interest-earning deposits in other financial institutions | 224 |  | -
Investment in Northfield Bank | 547,216 |  | 386,324
Securities available-for-sale (corporate bonds) | - |  | 5,173
ESOP loan receivable | 27,799 |  | 14,525
Accrued interest receivable | - |  | 94
Other assets | 80 |  | 2,015
Total assets | $ 716,650 |  | $ 415,672
Liabilities and Stockholders' Equity |  |  |
Total liabilities | $ 542 |  | $ 799
Total stockholders' equity | 716,108 |  | 414,873
Total liabilities and stockholders' equity | $ 716,650 |  | $ 415,672
Northfield Bancorp, Inc. Condensed Statements of Comprehensive (Loss) Income
| Years Ended
| December 31,
| 2013 |  | 2012 |  | 2011
| (in thousands)
Interest on ESOP loan | $ 904 |  | $ 490 |  | $ 500
Interest income on deposit in Northfield Bank | 286 |  | 18 |  | 78
Interest income on deposits in other financial institutions | - |  | - |  | 3
Interest income on corporate bonds | 13 |  | 157 |  | 688
Gain on securities transactions, net | - |  | - |  | 227
Undistributed earnings of Northfield Bank | 19,157 |  | 16,360 |  | 16,503
Total income | 20,360 |  | 17,025 |  | 17,999
Other expenses | 1,188 |  | 1,249 |  | 952
Income tax (benefit) expense | 25 |  | (255) |  | 224
Total expense | 1,213 |  | 994 |  | 1,176
Net income | $ 19,147 |  | $ 16,031 |  | $ 16,823
Comprehensive (loss) income |  |  |  |  |
Net income | $ 19,147 |  | $ 16,031 |  | $ 16,823
Other comprehensive (loss) income, net of tax | (22,881) |  | 761 |  | 6,560
Comprehensive (loss) income | $ (3,734) |  | $ 16,792 |  | $ 23,383
Northfield Bancorp, Inc. Condensed Statements of Cash Flows
| December 31,
| 2013 |  | 2012 |  | 2011
| (in thousands)
Cash flows from operating activities |  |  |  |  |
Net income | $ 19,147 |  | $ 16,031 |  | $ 16,823
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Decrease in accrued interest receivable | 94 |  | 1 |  | 410
(Decrease) increase in due to Northfield Bank | (541) |  | (704) |  | (478)
Decrease (increase) in other assets | 1,271 |  | 1,394 |  | 57
Amortization of premium on corporate bond | - |  | 68 |  | 521
Gain on securities transactions, net | - |  | - |  | (227)
(Decrease) Increase in other liabilities | (556) |  | 510 |  | 54
Undistributed earnings of Northfield Bank | (19,157) |  | (16,360) |  | (16,503)
Net cash provided by operating activities | 258 |  | 940 |  | 657
Cash flows from investing activities |  |  |  |  |
Additional investment in Northfield Bank | (172,299) |  | - |  | -
Maturities of corporate bonds | 5,173 |  | - |  | -
Loan to ESOP | (14,224) |  | - |  | -
Proceeds from sale of corporate bonds | - |  | - |  | 31,068
Net cash (used in) provided by investing activities | (181,350) |  | - | - | 31,068
Cash flows from financing activities |  |  |  |  |
Proceeds from sale of common stock | 344,202 |  | - |  | -
Principal payments on ESOP loan receivable | 950 |  | 430 |  | 437
Purchase of treasury stock | (3,628) |  | (4,344) |  | (37,811)
Dividends paid | (26,859) |  | (1,722) |  | (3,701)
Merger of Northfield Bancorp, MHC | 124 |  | - |  | -
Exercise of stock options | 21 |  | - |  | -
Additional tax benefit on stock awards | 296 |  | - |  | -
Net cash provided by (used in) financing activities | 315,106 |  | (5,636) | - | (41,075)
Net (decrease) increase in cash and cash equivalents | 134,014 |  | (4,696) |  | (9,350)
Cash and cash equivalents at beginning of year | 7,541 |  | 12,237 |  | 21,587
Cash and cash equivalents at end of year | $ 141,555 |  | $ 7,541 |  | $ 12,237
Selected Quarterly Financial Data (Unaudited) The following tables are a summary of certain quarterly financial data for the years ended December 31, 2013 and 2012:
| 2013 Quarter Ended
| March 31 |  | June 30 |  | September 30 |  | December 31
| (Dollars in thousands, except per share data)
Selected Operating Data: |  |  |  |  |  |  |
Interest income | $ 23,516 |  | $ 22,954 |  | $ 23,380 |  | $ 22,620
Interest expense | 4,751 |  | 4,199 |  | 4,060 |  | 3,938
Net interest income | 18,765 |  | 18,755 |  | 19,320 |  | 18,682
Provision for loan losses | 277 |  | 417 |  | 817 |  | 416
Net interest income after provision for loan losses | 18,488 |  | 18,338 |  | 18,503 |  | 18,266
Other income | 3,256 |  | 1,698 |  | 2,588 |  | 2,619
Other expenses | 14,366 |  | 13,209 |  | 13,309 |  | 12,989
Income before income tax expense | 7,378 |  | 6,827 |  | 7,782 |  | 7,896
Income tax expense | 2,586 |  | 2,528 |  | 2,682 |  | 2,940
Net income | $ 4,792 |  | $ 4,299 |  | $ 5,100 |  | $ 4,956
Net income per common share- basic | $ 0.09 |  | $ 0.08 |  | $ 0.09 |  | $ 0.09
Net income per common share- diluted | $ 0.09 |  | $ 0.08 |  | $ 0.09 |  | $ 0.08
| 2012 Quarter Ended
| March 31 |  | June 30 |  | September 30 |  | December 31
| (Dollars in thousands, except per share data)
Selected Operating Data: |  |  |  |  |  |  |
Interest income | $ 22,739 |  | $ 22,760 |  | $ 22,690 |  | $ 23,350
Interest expense | 5,814 |  | 5,747 |  | 5,691 |  | 5,392
Net interest income | 16,925 |  | 17,013 |  | 16,999 |  | 17,958
Provision for loan losses | 615 |  | 544 |  | 502 |  | 1,875
Net interest income after provision for loan losses | 16,310 |  | 16,469 |  | 16,497 |  | 16,083
Other income | 3,975 |  | 1,430 |  | 1,710 |  | 1,471
Other expenses | 12,642 |  | 11,801 |  | 12,028 |  | 12,527
Income before income tax expense | 7,643 |  | 6,098 |  | 6,179 |  | 5,027
Income tax expense | 2,695 |  | 2,150 |  | 2,285 |  | 1,786
Net income | $ 4,948 |  | $ 3,948 |  | $ 3,894 |  | $ 3,241
Net income per common share- basic | $ 0.10 |  | $ 0.07 |  | $ 0.07 |  | $ 0.06
Net income per common share- diluted | $ 0.09 |  | $ 0.07 |  | $ 0.07 |  | $ 0.06

X
- Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e24072-122690 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration