On August 25, 2015, Northfield Bancorp, Inc., Woodbridge, New Jersey, and its wholly-owned subsidiary, Northfield Bank, entered into an agreement to acquire Hopewell Valley Community Bank (“Hopewell Valley”), Pennington, New Jersey, for approximately $54.9 million.  Under the merger agreement, Hopewell Valley will merge into Northfield Bank with Northfield Bank as the resulting bank.  Hopewell Valley shareholders will receive, at their election, either $14.50 in cash or 0.9592 shares of Northfield Bancorp common stock for each Hopewell Valley common share, subject to the requirement that, in the aggregate, 75% of Hopewell Valley’s shares of common stock will be converted into Northfield Bancorp common stock and 25% of Hopewell Valley’s shares of common stock will be converted into cash.

Luse Gorman represented Northfield Bancorp in the transaction.  The Luse Gorman team was led by Eric Luse, Ned Quint and Scott Brown (Corporate/M&A) and Beverly White and Jeff Cardone (Executive Compensation).

Northfield Bancorp has approximately $3.15 billion in total assets and operates 30 full-service offices in Staten Island and Brooklyn, New York and Middlesex and Union Counties, New Jersey.

Hopewell Valley has approximately $495 million in total assets and operates ten full-service offices located in Hunterdon, Mercer and Somerset Counties, New Jersey.