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Northfield Bancorp: Well Look What We Have Here

Northfield Bancorp (NASDAQ:NFBK) is a $722 million bank holding company that operates through Northfield Bank, its wholly owned subsidiary. The bank has 30 branches in Staten Island, Brooklyn and New Jersey and just recently completed its second-step conversion from Northfield Bancorp MHC on 1/24/13.

Since then, the bank is up ~10.47%, significantly behind the SNL U.S. Bank and Thrift Index that has moved up over 25% during the same time.

Post conversion, the bank is now in a transition where it has more capital available and new opportunities to sell products that its previous MHC structure limited it from offering. That being the case, we should see some rather large moves in the company's balance sheet over the...

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