Northfield Bank Mortgage Rates, Fees & Info

New York, NY

LEI: 549300BN4MNW5KE16X83

Tax ID: 13-5578494

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Northfield Bank is a smaller bank specializing in Refi loans. Northfield Bank has a high proportion of conventional loans. Their top markets include New York, Philadelphia, Allentown, Harrisburg, and Trenton among others. Northfield Bank has a below average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

777

Origination Dollar Volume (All Markets)

$841,095,000

Employee count

385

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 637 $549,925,000 $863,305 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 52 $163,440,000 $3,143,077 $0 0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 9 $29,345,000 $3,260,556 $0 0.00%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 5 $29,325,000 $5,865,000 $0 0.00%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 55 $15,885,000 $288,818 $0 0.00%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $10,505,000 $10,505,000 $0 0.00%
EAST STROUDSBURG, PA (FHA|USDA|VA) 2 $7,810,000 $3,905,000 $0 0.00%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 3 $7,665,000 $2,555,000 $0 0.00%
LEBANON, PA (FHA|USDA|VA) 1 $6,705,000 $6,705,000 $0 0.00%
LANCASTER, PA (FHA|USDA|VA) 2 $5,610,000 $2,805,000 $0 0.00%
READING, PA (FHA|USDA|VA) 1 $4,505,000 $4,505,000 $0 0.00%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 3 $4,405,000 $1,468,333 $0 0.00%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $4,005,000 $4,005,000 $0 0.00%
Pottsville, PA (FHA|USDA|VA) 1 $1,405,000 $1,405,000 $0 0.00%
OCEAN CITY, NJ (FHA|USDA|VA) 3 $405,000 $135,000 $0 0.00%
Outside of Metro Areas 1 $155,000 $155,000 $0 0.00%

Northfield Bank's top markets include New York, Philadelphia, Allentown, Harrisburg, and Trenton among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 777 $841,095,000 $1,082,490 $0 0.00%

For the 2021 period, Northfield Bank's most frequently originated loan type of loans were Conventional, with 777 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 322 $673,580,000 $2,091,863 $0 0.00%
Home Improvement 259 $39,395,000 $152,104 $0 0.00%
Other 128 $22,560,000 $176,250 $0 0.00%
Home Purchase 68 $105,560,000 $1,552,353 $0 0.00%

For the 2021, Northfield Bank's most frequently cited loan purpose of loans were Refi, with 322 originations. The 2nd most popular reason of loans were Home Improvement, with 259 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 777 $841,095,000 $1,082,490 $0 0.00%

For the 2021, Northfield Bank's most frequently cited loan length of loans were Other, with 777 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 214 $11,860,000 $55,421 $0 0.00%
$1MM+ 193 $733,165,000 $3,798,782 $0 0.00%
$100k-200k 172 $22,720,000 $132,093 $0 0.00%
$200k-400k 134 $34,570,000 $257,985 $0 0.00%
$600k-1MM 33 $25,045,000 $758,939 $0 0.00%
$400k-600k 31 $13,735,000 $443,065 $0 0.00%

2021 saw Northfield Bank place emphasis on $100,000 or less loans with 214 originations, totaling $11,860,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 197 $35,575,000 $180,584 $0 0.00%
$100k-150k 129 $17,345,000 $134,457 $0 0.00%
$250k+ 107 $34,165,000 $319,299 $0 0.00%
$50k-75k 60 $5,010,000 $83,500 $0 0.00%
$75k-100k 53 $5,765,000 $108,774 $0 0.00%
$50k or less 17 $1,325,000 $77,941 $0 0.00%

Northfield Bank lent most frequently to those with incomes in the $150k-250k range, with 197 originations. The second most popular income band? $100k-150k, with 129 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 777 $841,095,000 $1,082,490 $0 0.00%

Northfield Bank lent most frequently to those with DTI ratios of Exempt%, with 777 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 211 $737,265,000 $3,494,147 $0 0.00%
White 403 $66,285,000 $164,479 $0 0.00%
Not provided 74 $18,090,000 $244,459 $0 0.00%
Asian 61 $13,735,000 $225,164 $0 0.00%
Asian Indian 12 $2,380,000 $198,333 $0 0.00%
Chinese 5 $1,845,000 $369,000 $0 0.00%
Black 9 $755,000 $83,889 $0 0.00%
Other Asian 2 $740,000 $370,000 $0 0.00%

Approval Rates

Total approvals of all applications
62.96%

Northfield Bank has a low approval rate. They may have poor market targeting or stringent lending standards.

Pick Rate

Approvals leading to origination
88.35%

Northfield Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 777 $841,095,000 $1,082,490

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
777 $841,095,000 $1,082,490

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Northfield Bank 1065 Bay Street Staten Island, NY 10305 Full Service B&M $104,789
Northfield Bank 112 Court St Brooklyn, NY 11201 Full Service B&M $21,191
Northfield Bank 1123 Kings Highway Brooklyn, NY 11229 Full Service B&M $58,880
Northfield Bank 1158 Hylan Blvd Staten Island, NY 10305 Full Service B&M $110,954
Northfield Bank 1305 Morris Avenue Union, NJ 7083 Full Service B&M $89,492
Northfield Bank 1410 St Georges Avenue Avenel, NJ 7001 Full Service B&M $109,479
Northfield Bank 1481 Forest Avenue Staten Island, NY 10302 Full Service B&M $231,693
Northfield Bank 1497 Richmond Avenue Staten Island, NY 10314 Full Service B&M $87,214
Northfield Bank 150 Greaves Lane Staten Island, NY 10308 Full Service B&M $140,541
Northfield Bank 1501 86th Street Brooklyn, NY 11228 Full Service B&M $65,487
Northfield Bank 1515 Irving St Rahway, NJ 7065 Full Service B&M $84,962
Northfield Bank 1600 Perrinville Road Monroe, NJ 8831 Full Service B&M $80,471
Northfield Bank 4602 13th Ave Brooklyn, NY 11219 Full Service B&M $92,684
Northfield Bank 501 North Wood Avenue Linden, NJ 7036 Full Service B&M $120,296
Northfield Bank 519 Forest Ave Staten Island, NY 10310 Full Service B&M $166,300
Northfield Bank 56 Main Street Flemington, NJ 8822 Full Service B&M $56,560
Northfield Bank 5775 Amboy Road Staten Island, NY 10309 Full Service B&M $107,331
Northfield Bank 624 Main Street Woodbridge, NJ 7095 Full Service B&M $170,961
Northfield Bank 6410 18th Avenue Brooklyn, NY 11204 Full Service B&M $30,062
Northfield Bank 6420 Amboy Road Staten Island, NY 10309 Full Service B&M $149,871
Northfield Bank 755 State Highway 18 East Brunswick, NJ 8816 Full Service B&M $303,443
Northfield Bank 802 Denow Road Pennington, NJ 8534 Full Service B&M $97,804
Northfield Bank 828 South Avenue W Westfield, NJ 7090 Full Service B&M $56,888
Northfield Bank 1731 Victory Blvd Staten Island, NY 10314 Full Service B&M $442,544
Northfield Bank 2055 Victory Boulevard Staten Island, NY 10314 Full Service B&M $14,058
Northfield Bank 24 Hillel Place Brooklyn, NY 11210 Full Service B&M $50,523
Northfield Bank 247 Avenue U Brooklyn, NY 11223 Full Service B&M $69,420
Northfield Bank 2706 Hylan Blvd Staten Island, NY 10306 Full Service B&M $161,094
Northfield Bank 280 Route 31 Hopewell, NJ 8525 Full Service B&M $50,003
Northfield Bank 3227 Richmond Ave Staten Island, NY 10312 Full Service B&M $233,577
Northfield Bank 353 Pittstown Road Pittstown, NJ 8867 Full Service B&M $63,106
Northfield Bank 3800 Quakerbridge Road Hamilton, NJ 8619 Full Service B&M $101,737
Northfield Bank 4 Route 31 South Pennington, NJ 8534 Full Service B&M $128,374
Northfield Bank 4142 Hylan Boulevard Staten Island, NY 10308 Full Service B&M $108,417
Northfield Bank 8512 Third Avenue Brooklyn, NY 11209 Full Service B&M $75,776
Northfield Bank One Hyatt Street Staten Island, NY 10301 Full Service B&M $47,523
Northfield Bank 1080 Olde York Road Ringoes, NJ 8551 Full Service B&M $67,431
Northfield Bank 11 State Road Princeton, NJ 8540 Full Service B&M $35,989

For 2021, Northfield Bank had 38 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $172,297
Net interest income $154,954
Total noninterest income $12,959
Gross Fiduciary activities income $0
Service charges on deposit accounts $2,849
Trading account gains and fees $1,705
Additional Noninterest Income $8,405
Pre-tax net operating income $95,769
Securities gains (or losses, -) $1,495
Income before extraordinary items $70,956
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $70,956
Minority interest net income $0
Net income $70,956
Sale, conversion, retirement of capital stock, net $0
Net operating income $69,774

Northfield Bank's gross interest income from loans was $172,297,000.
Northfield Bank's net interest income from loans was $154,954,000.
Northfield Bank's fee based income from loans was $2,849,000.
Northfield Bank's net income from loans was $70,956,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $17,343
Provision for credit losses $-6,184
Total noninterest expense $78,328
Salaries and employee benefits $43,106
Premises and equipment expense $15,944
Additional noninterest expense $19,278
Applicable income taxes $26,308
Net charge-offs $2,803
Cash dividends $69,916

Northfield Bank's interest expense for loans was $17,343,000.
Northfield Bank's payroll and benefits expense were $43,106,000.
Northfield Bank's property, plant and equipment expenses $15,944,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 1.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 0.0%
All other family 0.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $4,209,180
Deposits held in domestic offices $4,209,180
Deposits by Individuals, partnerships, and corporations $3,573,390
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $635,790
Deposits by Commercial banks and other depository institutions in U.S. $0
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $520,660
Demand deposits $306,234
Nontransaction accounts $3,688,520
Money market deposit accounts (MMDAs) $2,124,076
Other savings deposits (excluding MMDAs) $1,182,083
Total time deposits $382,361
Total time and savings deposits $3,902,946
Noninterest-bearing deposits $912,850
Interest-bearing deposits $3,296,330
Retail deposits $4,113,399
IRAs and Keogh plan accounts $72,945
Brokered deposits $31,000
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $5,435,707
Cash & Balances due from depository institutions $91,068
Interest-bearing balances $72,877
Total securities $1,213,848
Federal funds sold & reverse repurchase $0
Net loans and leases $3,767,644
Loan and leases loss allowance $38,973
Trading account assets $14,328
Bank premises and fixed assets $59,879
Other real estate owned $100
Goodwill and other intangibles $41,533
All other assets $247,307

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $5,435,707
Total Liabilities $4,732,562
Total deposits $4,209,180
Interest-bearing deposits $3,296,330
Deposits held in domestic offices $4,209,180
% insured (estimated) $61
Federal funds purchased and repurchase agreements $50,000
Trading liabilities $925
Other borrowed funds $430,890
Subordinated debt $0
All other liabilities $41,567

Issued Loan Types

Type Value (in 000's)
Net loans and leases $3,767,644
Loan and leases loss allowance $38,973
Total loans and leases (domestic) $3,806,617
All real estate loans $3,656,034
Real estate loans in domestic offices $3,656,034
Construction and development loans $27,941
Residential 1-4 family construction $7,356
Other construction, all land development and other land $20,585
Loans secured by nonfarm nonresidential properties $812,502
Nonfarm nonresidential secured by owner-occupied properties $256,037
Commercial real estate & other non-farm, non-residential $556,465
Multifamily residential real estate $2,518,064
1-4 family residential loans $297,527
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $148,567
To non-U.S. addressees $0
Loans to individuals $2,016
Credit card loans $0
Related Plans $0
Consumer Auto Loans $0
Other loans to individuals $2,016
All other loans & leases $0
Loans to foreign governments and official institutions $0
Other loans $0
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $5,673
Non 1-4 family restructured loans & leases $4,073
Total loans and leases (foreign) $0

Northfield Bank had $3,767,644,000 of loans outstanding in 2021. $3,656,034,000 of loans were in real estate loans. $27,941,000 of loans were in development loans. $2,518,064,000 of loans were in multifamily mortgage loans. $297,527,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 392 $121,006 $308,689
Nonfarm, nonresidential loans - <$100k 14 $630 $45,000
Nonfarm, nonresidential loans - $100-250k 98 $12,196 $124,449
Nonfarm, nonresidential loans - $250k-1MM 280 $108,180 $386,357
Commercial & Industrial, US addressed loans - <$1MM 655 $58,882 $89,896
Commercial & Industrial, US addressed loans - <$100k 306 $9,931 $32,454
Commercial & Industrial, US addressed loans - $100-250k 257 $25,725 $100,097
Commercial & Industrial, US addressed loans - $250k-1MM 92 $23,226 $252,457