Business
Columbia Financial, Inc. Announces Financial Results for the First Quarter Ended March 31, 2026
FAIR LAWN, N.J., April 20, 2026 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the mid-tier holding company for Columbia Bank ("Columbia"), reported net income of $13.1 million, or $0.13 per basic and diluted share, for the quarter ended March 31, 2026, as compared to $8.9 million, or $0.09 per basic and diluted share, for the quarter ended March 31, 2025. Earnings for the quarter ended March 31, 2026 reflected higher net interest income due to both an increase in i
About this update from Columbia Financial, Inc.
[{"type":"text","content":"FAIR LAWN, N.J., April 20, 2026 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the mid-tier holding company for Columbia Bank ("Columbia"), reported net income of $13.1 million, or $0.13 per basic and diluted share, for the quarter ended March 31, 2026, as compared to $8.9 million, or $0.09 per basic and diluted share, for the quarter ended March 31, 2025. Earnings for the quarter ended March 31, 2026 reflected higher net interest income due to both an increase in interest income and a decrease in interest expense, and a decrease in provision for credit losses, partially offset by lower non-interest income, an increase in non-interest expense and higher income tax expense.","length":721,"tagName":"p"},{"type":"text","content":"Mr. Thomas J. Kemly, President and Chief Executive Officer commented: “It was an exciting first quarter for Columbia as we announced our intention to undertake our second step conversion offering as well as a significant merger with Northfield Bancorp, Inc. We believe that these transactions have the ability to transform our company by introducing us to new geographic markets in the New York metro area, adding a lower cost deposit base, and providing abundant capital for future growth of our franchise. Our teams are actively working on integration plans to ensure a seamless transition for our customers. The completion of the second-step conversion and the merger remain subject to the satisfaction of various closing conditions, including the receipt of all required regulatory approvals and the receipt of all required applicable stockholder and member approvals.”","length":873,"tagName":"p"},{"type":"text","content":"Regarding the quarterly financial results, Mr. Kemly added, “Our first quarter results included higher core net income driven by net interest margin expansion and lower provision for credit losses partially offset by merger related costs and a higher income tax rate. While the balance sheet was fairly flat with prior quarter, higher commercial loan prepayments offset solid loan production. We reduced our cost of deposits by 6 basis points despite heightened competition for deposits in our markets. "","length":509,"tagName":"p"},{"type":"text","content":"Financial Highlights","length":20,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","co...