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Northfield Bancorp , Inc. Announces Third Quarter 2021 Results Company Release - 10/27/2021 7:29 PM ET NOTABLE ITEMS FOR THE QUARTER INCLUDE : DILUTED EARNINGS PER SHARE WERE $ 0.33 FOR THE CURRENT QUARTER AS COMPARED TO $ 0.40 FOR THE TRAILING QUARTER , AND $ 0.17 FOR THE THIRD QUARTER OF 2020 . NET INTEREST MARGIN INCREASED BY THREE BASIS POINTS TO 2.99 % COMPARED TO 2.96 % FOR THE TRAILING QUARTER , AND BY 49 BASIS POINTS COMPARED TO 2.50 % FOR THE THIRD QUARTER OF 2020 . TOTAL LOANS , EXCLUDING PAYCHECK PROTECTION PROGRAM ( " PPP " ) LOANS , INCREASED $ 59.4 MILLION , OR 6.5 % ANNUALIZED , DURING THE QUARTER . DEPOSITS , EXCLUDING BROKERED , INCREASED $ 98.8 MILLION , OR 9.9 % ANNUALIZED DURING THE QUARTER . THE AVERAGE COST OF DEPOSITS DECREASED TO 14 BASIS POINTS FROM 16 BASIS POINTS FOR THE TRAILING QUARTER . AT SEPTEMBER 30 , 2021 OUR COST OF DEPOSITS WAS 0.11 % . CREDIT QUALITY AT SEPTEMBER 30 , 2021 , REMAINS STRONG WITH NON- PERFORMING LOANS TO TOTAL LOANS AND TOTAL ASSETS AT 0.20 % AND 0.14 % , RESPECTIVELY , COMPARED TO 0.23 % AND 0.17 % , RESPECTIVELY , AT JUNE 30 , 2021 . REPURCHASED 1,323,607 SHARES TOTALING APPROXIMATELY $ 22.0 MILLION . holding CASH DIVIDEND DECLARED OF $ 0.13 PER SHARE OF COMMON STOCK , PAYABLE NOVEMBER 24 , 2021 , TO STOCKHOLDERS OF RECORD AS OF NOVEMBER 10 , 2021 . WOODBRIDGE , N.J. , Oct. 27 , 2021 ( GLOBE NEWSWIRE ) -- NORTHFIELD BANCORP , INC . ( Nasdaq : NFBK ) ( or the " Company " ) , the company for Northfield Bank , reported diluted earnings per common share of $ 0.33 and $ 1.11 for the three and nine months ended September 30 , 2021 , respectively , as compared to $ 0.17 and $ 0.50 per diluted share for the three and nine months ended September 30 , 2020 , respectively . Major factors impacting 2021 earnings include a negative provision for credit losses for loans and the acceleration of income earned on Paycheck Protection Program ( " PPP " ) loans . Earnings for the three and nine months ended September 30 , 2021 , included a negative provision for credit losses on loans of $ 148,000 and $ 6.2 million , respectively , reflecting continued improvement in the economic forecast and asset quality , as compared to a provision for loan losses of $ 165,000 and $ 10.3 million for the three and nine months ended September 30 , 2020 , respectively , under the incurred loss