Northfield Bank Mortgage Rates, Fees & Info
New York, NYLEI: 549300BN4MNW5KE16X83
Tax ID: 13-5578494
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Bank Data
Review & Overview
Northfield Bank is a smaller bank specializing in Refi and Home Purchase loans. Northfield Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Harrisburg, Allentown, and Trenton among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Northfield Bank has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
427Origination Dollar Volume (All Markets)
$485,945,000Employee count
369Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 340 | $322,660,000 | $949,000 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 24 | $73,890,000 | $3,078,750 | $0 | 0.00% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 2 | $32,950,000 | $16,475,000 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 6 | $17,690,000 | $2,948,333 | $0 | 0.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 44 | $15,520,000 | $352,727 | $0 | 0.00% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $7,005,000 | $7,005,000 | $0 | 0.00% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 1 | $4,515,000 | $4,515,000 | $0 | 0.00% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $4,505,000 | $4,505,000 | $0 | 0.00% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 1 | $3,855,000 | $3,855,000 | $0 | 0.00% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $2,405,000 | $2,405,000 | $0 | 0.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $160,000 | $80,000 | $0 | 0.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 427 | $485,945,000 | $1,138,044 | $0 | 0.00% |
For 2019, Northfield Bank's most frequently originated type of loan was Conventional, with 427 originations.
Loan Reason
For 2019, Northfield Bank's most frequently cited loan purpose was Refi, with 186 originations. The 2nd most popular reason was Home Improvement, with 117 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 427 | $485,945,000 | $1,138,044 | $0 | 0.00% |
For 2019, Northfield Bank's most frequently cited loan duration was Other, with 427 originations.
Loan Sizing
2019 saw Northfield Bank place emphasis on $100,000 or less loans with 154 originations, totaling $8,220,000 in origination value.
Applicant Income
Northfield Bank lent most frequently to those with incomes in the $150k-250k range, with 86 originations. The second most popular income band? $100k-150k, with 80 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 427 | $485,945,000 | $1,138,044 | $0 | 0.00% |
Northfield Bank lent most frequently to those with DTI ratios of Exempt%, with 427 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications66.06%
Northfield Bank has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination87.35%
Northfield Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 427 | $485,945,000 | $1,138,044 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 112 | $427,890,000 | $3,820,446 |
| Single Family (1-4 Units):Site-Built | 315 | $58,055,000 | $184,302 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Northfield Bank | 1080 Olde York Road Ringoes, NJ 8551 | Full Service B&M | $55,570 |
| Northfield Bank | 11 State Road Princeton, NJ 8540 | Full Service B&M | $34,389 |
| Northfield Bank | 112 Court St Brooklyn, NY 11201 | Full Service B&M | $25,815 |
| Northfield Bank | 1123 Kings Highway Brooklyn, NY 11229 | Full Service B&M | $40,763 |
| Northfield Bank | 1158 Hylan Blvd Staten Island, NY 10305 | Full Service B&M | $52,174 |
| Northfield Bank | 1305 Morris Avenue Union, NJ 7083 | Full Service B&M | $58,394 |
| Northfield Bank | 1410 St Georges Avenue Avenel, NJ 7001 | Full Service B&M | $102,017 |
| Northfield Bank | 1481 Forest Avenue Staten Island, NY 10302 | Full Service B&M | $213,594 |
| Northfield Bank | 1497 Richmond Avenue Staten Island, NY 10314 | Full Service B&M | $60,059 |
| Northfield Bank | 150 Greaves Lane Staten Island, NY 10308 | Full Service B&M | $27,078 |
| Northfield Bank | 1501 86th Street Brooklyn, NY 11228 | Full Service B&M | $49,596 |
| Northfield Bank | 1515 Irving St Rahway, NJ 7065 | Full Service B&M | $54,562 |
| Northfield Bank | 1600 Perrinville Road Monroe, NJ 8831 | Full Service B&M | $80,029 |
| Northfield Bank | 1731 Victory Boulevard Staten Island, NY 10314 | Full Service B&M | $580,371 |
| Northfield Bank | 180 Scotch Road Ewing, NJ 8628 | Full Service B&M | $33,634 |
| Northfield Bank | 24 Hillel Place Brooklyn, NY 11210 | Full Service B&M | $43,959 |
| Northfield Bank | 247 Avenue U Brooklyn, NY 11223 | Full Service B&M | $39,609 |
| Northfield Bank | 2706 Hylan Blvd Staten Island, NY 10306 | Full Service B&M | $135,396 |
| Northfield Bank | 280 Route 31 Hopewell, NJ 8525 | Full Service B&M | $38,211 |
| Northfield Bank | 283 Kings Hwy Brooklyn, NY 11223 | Full Service B&M | $22,419 |
| Northfield Bank | 3227 Richmond Ave Staten Island, NY 10312 | Full Service B&M | $206,323 |
| Northfield Bank | 336 Ryders Lane Milltown, NJ 8850 | Full Service B&M | $113,911 |
| Northfield Bank | 353 Pittstown Road Pittstown, NJ 8867 | Full Service B&M | $46,647 |
| Northfield Bank | 3800 Quakerbridge Road Hamilton, NJ 8619 | Full Service B&M | $89,941 |
| Northfield Bank | 385 Bay Street Staten Island, NY 10301 | Full Service B&M | $34,049 |
| Northfield Bank | 4 Route 31 South Pennington, NJ 8534 | Full Service B&M | $107,037 |
| Northfield Bank | 4355 Amboy Road Staten Island, NY 10312 | Full Service B&M | $93,919 |
| Northfield Bank | 4602 13th Ave Brooklyn, NY 11219 | Full Service B&M | $46,916 |
| Northfield Bank | 501 North Wood Avenue Linden, NJ 7036 | Full Service B&M | $102,281 |
| Northfield Bank | 518 Brighton Beach Avenue New York City, NY 11235 | Full Service B&M | $24,795 |
| Northfield Bank | 519 Forest Ave Staten Island, NY 10310 | Full Service B&M | $66,055 |
| Northfield Bank | 56 Main Street Flemington, NJ 8822 | Full Service B&M | $44,471 |
| Northfield Bank | 5775 Amboy Road Staten Island, NY 10309 | Full Service B&M | $94,620 |
| Northfield Bank | 624 Main Street Woodbridge, NJ 7095 | Full Service B&M | $126,927 |
| Northfield Bank | 6410 18th Avenue Brooklyn, NY 11204 | Full Service B&M | $27,747 |
| Northfield Bank | 6420 Amboy Road Staten Island, NY 10309 | Full Service B&M | $118,156 |
| Northfield Bank | 755 State Highway 18 East Brunswick, NJ 8816 | Full Service B&M | $78,521 |
| Northfield Bank | 802 Denow Road Pennington, NJ 8534 | Full Service B&M | $52,067 |
| Northfield Bank | 828 South Avenue W Westfield, NJ 7090 | Full Service B&M | $58,524 |
| Northfield Bank | 8512 Third Avenue Brooklyn, NY 11209 | Full Service B&M | $81,763 |
For 2019, Northfield Bank had 40 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $165,143 |
| Net interest income | $110,293 |
| Total noninterest income | $14,283 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $3,222 |
| Trading account gains and fees | $2,125 |
| Additional Noninterest Income | $8,936 |
| Pre-tax net operating income | $51,868 |
| Securities gains (or losses, -) | $515 |
| Income before extraordinary items | $40,012 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $40,012 |
| Minority interest net income | $0 |
| Net income | $40,012 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $39,605 |
Northfield Bank's gross interest income from loans was $165,143,000.
Northfield Bank's net interest income from loans was $110,293,000.
Northfield Bank's fee based income from loans was $3,222,000.
Northfield Bank's net income from loans was $40,012,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $54,850 |
| Provision for credit losses | $22 |
| Total noninterest expense | $72,686 |
| Salaries and employee benefits | $38,961 |
| Premises and equipment expense | $15,071 |
| Additional noninterest expense | $18,654 |
| Applicable income taxes | $12,371 |
| Net charge-offs | $-1,188 |
| Cash dividends | $41,277 |
Northfield Bank's interest expense for loans was $54,850,000.
Northfield Bank's payroll and benefits expense were $38,961,000.
Northfield Bank's property, plant and equipment expenses $15,071,000.
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 | 0.0% |
| Nonfarm, nonresidential loans | 1.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 1.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 3.0% |
| 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 | $3,461,466 |
| Deposits held in domestic offices | $3,461,466 |
| Deposits by Individuals, partnerships, and corporations | $3,085,005 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $376,461 |
| 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 | $275,945 |
| Demand deposits | $137,734 |
| Nontransaction accounts | $3,185,521 |
| Money market deposit accounts (MMDAs) | $1,374,255 |
| Other savings deposits (excluding MMDAs) | $762,714 |
| Total time deposits | $1,048,552 |
| Total time and savings deposits | $3,323,732 |
| Noninterest-bearing deposits | $412,296 |
| Interest-bearing deposits | $3,049,170 |
| Retail deposits | $3,067,479 |
| IRAs and Keogh plan accounts | $89,185 |
| Brokered deposits | $259,024 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $5,059,460 |
| Cash & Balances due from depository institutions | $147,538 |
| Interest-bearing balances | $132,129 |
| Total securities | $1,147,364 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $3,408,378 |
| Loan and leases loss allowance | $28,707 |
| Trading account assets | $11,245 |
| Bank premises and fixed assets | $65,163 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $39,286 |
| All other assets | $240,486 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $5,059,460 |
| Total Liabilities | $4,417,010 |
| Total deposits | $3,461,466 |
| Interest-bearing deposits | $3,049,170 |
| Deposits held in domestic offices | $3,461,466 |
| % insured (estimated) | $72 |
| Federal funds purchased and repurchase agreements | $75,000 |
| Trading liabilities | $79 |
| Other borrowed funds | $847,970 |
| Subordinated debt | $0 |
| All other liabilities | $32,495 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $3,408,378 |
| Loan and leases loss allowance | $28,707 |
| Total loans and leases (domestic) | $3,437,085 |
| All real estate loans | $3,373,640 |
| Real estate loans in domestic offices | $3,373,640 |
| Construction and development loans | $40,840 |
| Residential 1-4 family construction | $11,964 |
| Other construction, all land development and other land | $28,876 |
| Loans secured by nonfarm nonresidential properties | $647,375 |
| Nonfarm nonresidential secured by owner-occupied properties | $174,121 |
| Commercial real estate & other non-farm, non-residential | $473,254 |
| Multifamily residential real estate | $2,308,152 |
| 1-4 family residential loans | $377,273 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $61,361 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,084 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $2,084 |
| 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 | $13,758 |
| Non 1-4 family restructured loans & leases | $11,865 |
| Total loans and leases (foreign) | $0 |
Northfield Bank had $3,408,378,000 of loans outstanding in 2019. $3,373,640,000 of loans were in real estate loans. $40,840,000 of loans were in development loans. $2,308,152,000 of loans were in multifamily mortgage loans. $377,273,000 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 | 338 | $100,564 | $297,527 |
| Nonfarm, nonresidential loans - <$100k | 22 | $1,672 | $76,000 |
| Nonfarm, nonresidential loans - $100-250k | 84 | $9,675 | $115,179 |
| Nonfarm, nonresidential loans - $250k-1MM | 232 | $89,217 | $384,556 |
| Commercial & Industrial, US addressed loans - <$1MM | 435 | $44,618 | $102,570 |
| Commercial & Industrial, US addressed loans - <$100k | 269 | $11,213 | $41,684 |
| Commercial & Industrial, US addressed loans - $100-250k | 80 | $9,519 | $118,988 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 86 | $23,886 | $277,744 |