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Columbia Financial, Inc. Announces Expansion Of Stock Repurchase Program
FAIR LAWN, N.J., Dec. 5, 2019 /PRNewswire/ -- Columbia Financial, Inc. (Nasdaq: CLBK) (the "Company"), the holding company for Columbia Bank, announced today
About this update from Columbia Financial, Inc.
[{"type":"text","content":"FAIR LAWN, N.J., Dec. 5, 2019 /PRNewswire/ -- Columbia Financial, Inc. (Nasdaq: CLBK) (the \"Company\"), the holding company for Columbia Bank, announced today that it has expanded its stock repurchase program to acquire an additional 3,000,000 shares of the Company's outstanding common stock in addition to the shares remaining under the repurchase program announced on June 11, 2019. Through September 30, 2019, the Company has repurchased approximately 2,742,000 shares for approximately $42.1 million under its previously announced stock repurchase program. \nRepurchases under the stock repurchase program may be made in open market transactions or privately negotiated transactions, and pursuant to a trading plan that the Company intends to adopt in accordance with Rule 10b5-1 of the Securities and Exchange Commission. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, market conditions, and other corporate liquidity requirements and priorities. The repurchase program does not obligate the Company to purchase any particular number of shares.\nAbout Columbia Financial, Inc.\nColumbia Financial, Inc. is a Delaware corporation organized as Columbia Bank's mid-tier stock holding company. Columbia Financial, Inc. is a majority-owned subsidiary of Columbia Bank, MHC. Columbia Bank is a federally chartered savings bank headquartered in Fair Lawn, New Jersey. The Bank offers traditional financial services to consumers and businesses in our market areas. As of September 30, 2019, Columbia had total assets of $7.1 billion, loans of $5.2 billion, and deposits of $4.8 billion. Currently, the Bank operates 64 branches in New Jersey.\nForward-Looking Statements\nCertain statements herein constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as \"believes,\" \"will,\" \"would,\" \"expects,\" \"projects,\" \"may,\" \"could,\" \"developments,\" \"strategic,\" \"launching,\" \"opportunities,\" \"anticipates,\" \"estimates,\" \"intends,\" \"plans,\" \"targets\" and similar expressions. These statement...