Business
Columbia Financial, Inc. Announces Stock Repurchase Program
FAIR LAWN, N.J., June 11, 2019 /PRNewswire/ -- Columbia Financial, Inc. (Nasdaq: CLBK) (the "Company"), the holding company for Columbia Bank, today
About this update from Columbia Financial, Inc.
[{"type":"text","content":" FAIR LAWN, N.J., June 11, 2019 /PRNewswire/ -- Columbia Financial, Inc. (Nasdaq: CLBK) (the \"Company\"), the holding company for Columbia Bank, today announced that the Company's Board of Directors has authorized a stock repurchase program to acquire up to 4,000,000 shares of the Company's currently issued and outstanding common stock commencing on June 13, 2019. \nThe stock repurchase program was adopted following the receipt of a notice of non-objection from the Federal Reserve Bank of Philadelphia.\nRepurchases under this 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 March 31, 2019, Columbia had total assets of $6.7 billion, loans of $5.0 billion, and operates 50 branches with deposits of $4.6 billion. \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 statements are based upon the current beliefs and expectations of the Company's management and are subject to sig...