Northfield Bancorp, Inc. · NASDAQ:NFBK

Northfield Bancorp — Merger or Acquisition (December 2019)

7 slides from Northfield Bancorp's merger presentation, Dec 23, 2019

  1. Slide 1: To Acquire VSB Bancorp, Inc. and its subsidiary Victory State Bank

    To Acquire VSB Bancorp, Inc. and its wholly-owned subsidiary, Victory State Bank December 23, 2019

  2. Slide 2: Forward-Looking Statements

    Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about (i) the benefits of the merger between Northfield Bancorp, I

  3. Slide 3: Well-Run, In-Market, Strong Core Deposit Franchise

    Well-Run, In-Market, Strong Core Deposit Franchise Target Snapshot Pro Forma Branch Footprint Name: VSB Bancorp, Inc. Current NFBK● ● Locations (40) Ticker (Exchange): VSBN (OTCBX) Current VSBN Locations (6) Headquarters: Staten Island, NY Established: 1997 Branches: 6 total in Staten Island Total A

  4. Slide 4: Strong Transaction Rationale

    Strong Transaction Rationale • Strengthens Northfield’s scale and competitive position in Staten Island, NY, as the only community bank, headquartered on Staten Island for over 130 years • Victory adds $325 million of● ● deposits, of which $145 million (~45%) are non-interest bearing Strategically d

  5. Slide 5: Transaction Summary

    Transaction Summary Buyer • Northfield Bancorp, Inc. (NASDAQ: NFBK) ● ● Seller • VSB Bancorp, Inc. (OTCQX: VSBN) • $33.30 fixed price per share transaction value; subject to a 5% collar Transaction Value¹ • $62.9 million in aggregate transaction value • 100% Stock Consideration¹ • 1.9440 shares of N

  6. Slide 6: Complementary Loan Portfolio & Low-Cost Deposits

    Complementary Loan Portfolio & Low-Cost Deposits Loan Portfolio Composition¹ High Quality, Low-Cost Deposit Base 5 0. 0% $157 Million in Gross Loans as of September 30, 2019 47.5% 1.60% 46.0% 45.7% Other ● ● 44.8% Consumer 1.40% 4 5. 0% 0.5% 43.0% 43.5% 0.3% Multifamily 41.6% 0.6% 1.20% 4 0. 0% C&I

  7. Slide 7: Northfield

    Northfield wes Bancorp

Northfield Bancorp — Merger or Acquisition (December 2019) on 6ix