AVENEL, N.J., Feb. 24, 2009 (GLOBE NEWSWIRE) -- Northfield Bancorp, Inc. (the "Company") (Nasdaq:NFBK), the holding company for Northfield Bank, reported, as previously announced in a filing with the U.S. Securities and Exchange Commission, on February 13, 2009, the Board of Directors of the Company authorized a stock repurchase program pursuant to which the Company intends to repurchase up to 2,240,153 shares, representing approximately 5% of its outstanding shares. The timing of the repurchases will depend on certain factors, including but not limited to, market conditions and prices, the Company's liquidity and capital requirements, and alternative uses of capital. Any repurchased shares will be held as treasury stock and will be available for general corporate purposes. The Company anticipates conducting such repurchases in accordance with a Rule 10b5-1 trading plan.
About Northfield Bancorp, Inc.
Northfield Bancorp, Inc. is the federally chartered stock holding company for Northfield Bank. Northfield Bank was organized in 1887 and operates 18 offices in the New York Counties of Richmond (Staten Island) and Kings (Brooklyn) and the New Jersey Counties of Union and Middlesex. For additional information about Northfield Bancorp, Inc. or Northfield Bank, please visit www.eNorthfield.com.
This release includes "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. A variety of factors could cause the Company's actual results to differ from those expected at the time of this release. For a discussion of some of the factors that may cause actual results to differ from expectations, please refer to the Company's most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K as filed with the SEC. Investors are urged to review all information contained in these reports, including the risk factors discussed therein. Copies of these filings are available at no cost on the SEC's website at http://www.sec.gov, or on the Company's website at www.eNorthfield.com, under "Investor Relations." Forward-looking statements speak only as of the date they are made, and we do not undertake to update them to reflect changes.