Columbia Financial, Inc. · NASDAQ:CLBK
Columbia Financial — Shareholder Meeting (June 2025)
25 slides from Columbia Financial's shareholder meeting presentation, Jun 5, 2025
Slide 1: Columbia Financial, Inc. Annual Meeting of Shareholders
Columbia Financial, Inc. Annual Meeting of Shareholders June 5, 2025 | Thomas J. Kemly, President & CEO June 5, 2025 | Dennis E. Gibney, Sr. EVP, CFO
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the private securities litigation reform act of 1995 regarding Columbia Financial Inc.'s expectations or predictions of future financial or business performance or conditions. Forward-looking statements
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation contains financial information presented in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). This presentation also contains certain non-GAAP information that the Company's management uses in its analysis of the Company's financial
Slide 4: 2024 Highlights
• Executed a balance sheet repositioning transaction in order to improve earnings in future years and expand net interest margin. • The Company sold $321 million of debt securities held available for sale at a loss and reinvested the proceeds in higher yielding loans and securities and prepaid high
Slide 5: First Quarter 2025 Highlights
• Reported net income of $8.9 million, or $0.09 per basic and diluted share. • Improved core return on average assets(1) and core return on average tangible equity(1) to 0.35% and 3.78%, respectively. • Increased tangible book value per share to $9.35 at March 31, 2025. • Continued our strategy to g
Slide 6: Consolidated Statements of Financial Condition
Consolidated Statements of Financial Condition Description 3/31/2025 12/31/2024 12/31/2023 12/31/2022 12/31/2021 Total Assets 10,607,850$ 10,475,493$ 10,645,568$ 10,408,169$ 9,224,097$ Total cash and cash equivalents 256,089 289,223 423,249 179,229 70,963 Debt securities available for sale, at fair
Slide 7: Consolidated Statements of Income
(1) Represents a Non-GAAP financial measure. Refer to the appendix for the reconciliation of GAAP to Non-GAAP financial measures. Consolidated Statements of Income 2025 2024 2024 2023 2022 2021 Interest income 112,163$ 108,627$ 451,426$ 394,978$ 309,670$ 270,150$ Interest expense 61,838 66,427 273,4
Slide 8: Capital Management
9.40% 9.30% 8.70% 9.00% 10.80% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 3/31/2025 YE 2024 YE 2023 YE 2022 YE 2021 Tangible Common Equity / Tangible Assets• Management focused on deploying the capital raised in the IPO through a combination of organic growth, acquisitions, and repurchases. Repurch
Slide 9: Financial Performance
(1) Represents a Non-GAAP financial measure. YTD 2025 - Ratios are annualized for the three months ended March 31, 2025. Financial Performance 0.35% 0.22% 0.49% 0.93% 1.03% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% YTD 2025 YE 2024 YE 2023 YE 2022 YE 2021 Core Return on Average Assets(1) 3.78% 2.49%
Slide 10: Lending
Lending $7,965 $7,857 $7,819 $7,625 $6,298 $0 $2,500 $5,000 $7,500 $10,000 3/31/2025 YE 2024 YE 2023 YE 2022 YE 2021 Loans Receivable, net (in millions) • As a community banking organization, the Company differentiates itself by focusing on relationships and self-sourced originations. • Loans are la
Slide 11: Commercial Real Estate
Commercial Real Estate Investor Owned Commercial Real Estate - 43.5% Multifamily Real Estate - 39.3% Owner Occupied Commercial Real Estate - 17.2% Commercial Real Estate Breakdown as of March 31, 2025 Investor Owned Commercial Real Estate (Dollar in thousands) Balance % of Total Commercial Real Esta
Slide 12: Commercial Real Estate (Continued): Multifamily Concentrations
Commercial Real Estate (Continued) 77.2% 11.4% 6.5% 1.3% 3.6% Multifamily Concentrations as of March 31, 2025 New Jersey Philadelphia - PA Other - PA New York City - NY Other - NY The multifamily portfolio includes only two loans collateralized by New York City rent stabilized properties, totaling a
Slide 13: Commercial Real Estate (Continued): Upcoming Loan Maturities
Commercial Real Estate (Continued) $115,376 $54,576 $121,728 $20,400 $27,260 $27,104 $178,477 $139,568 $129,944 $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 2025 2026 2027 Upcoming Loan Maturities by Year (in thousands) Multifamily Real Estate Owner Occupied Commercial Real Estat
Slide 14: Asset Quality vs. Peers
Peers: AUB, BHLB, BRKL, CBU, CNOB, CUBI, DCOM, EGBN, FCF, FFIC, INDB, IBTX, KRNY, LBAI, NBTB, NFBK, OCFC, PGC, PFS, STBA, SASR, WSFS (LBAI – data reported as of 12/31/2024) Source: S&P Global Asset Quality 0.25% 0.22% 0.12% 0.06% 0.04% 0.47% 0.48% 0.24% 0.26% 0.27% 0.00% 0.20% 0.40% 0.60% 3/31/2025
Slide 15: Asset Quality (Continued)
Sources: S&P Global and Federal Reserve Bank, all Banks NSA. Asset Quality (Continued) 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% Net Charge-offs / Average Loans By Year Columbia Financial, Inc. Peer Median 15
Slide 16: Deposits
Deposits $8,195 $8,096 $7,847 $8,001 $7,570 $0 $2,000 $4,000 $6,000 $8,000 $10,000 3/31/2025 YE 2024 YE 2023 YE 2022 YE 2021 Total Deposits (in millions) 18.1% 23.6% 16.3% 8.0% 34.0% Deposit Breakdown as of March 31, 2025 Non-Interest Bearing Demand Interest-Bearing Demand Money Market Savings Certi
Slide 17: Investment Securities
Investment Securities 25.3% 68.3% 0.2% 5.7% 0.5% Investment Breakdown as of March 31, 2025 U.S. Government and agency obligations Agency MBS and CMOs Municipal obligations Corporate debt securities Equities • Approximately 93.6% of the total portfolio consisted of direct government or government age
Slide 18: Completed IPO and Mergers & Acquisitions
Completed IPO Sold 43% of Columbia Financial and raised $498 million in gross proceeds. Granted 3% of the shares to the Columbia Bank Foundation. Pro forma TCE was 15.6%. 2018 2020 2022 2019 2021 Acquired Roselle Mutual Merger $422 million in total assets and $333 million in deposits. In market tran
Slide 19: Organizational Considerations and Pro Forma Value of a Hypothetical Second Step Conversion
• Management and the Board of Directors are aware of the opportunities afforded by a second step conversion. • We believe that being “well-positioned” to execute a second step conversion is important. • Therefore, management is focused on: • Building the growth engine so we can leverage the amount o
Slide 20: Strategic Priorities
• Focus on earnings improvement, especially strategies to improve margins. • Continue our organic growth strategy while being mindful of economic conditions and evaluating acquisitions opportunistically. • Continue to manage our level of operating expenses. • Continue to build the infrastructure to
Slide 21: Questions
Questions
Slide 22: Appendix: Reconciliation of GAAP to Non-GAAP Financial Measures
Appendix Reconciliation of GAAP to Non-GAAP Financial Measures
Slide 23: Core Net Income
Core Net Income 2025 2024 2024 2023 2022 2021 Reconciliation of Core Net Income: Net Income (loss): 8,900$ (1,155)$ (11,653)$ 36,086$ 86,173$ 92,049$ Add/Less: Loss (gain) on securities transactions, net of tax - 1,130 30,082 9,249 (156) (1,481) Add: FDIC special assessment, net of tax - 393 385 3,0
Slide 24: Core ROAA and ROATE
Core ROAA and ROATE 2025(1) 2024(1) 2024 2023 2022 2021 Return on Average Assets 0.34% -0.04% -0.11% 0.35% 0.88% 1.01% Net Income (loss) 8,900$ (1,155)$ (11,653)$ 36,086$ 86,173$ 92,049$ Average Assets 10,562,982$ 10,568,560$ 10,653,512$ 10,370,557$ 9,741,822$ 9,103,003$ Core Return on Average Asset
Slide 25: Efficiency Ratio
2025(1) 2024(1) 2024 2023 2022 2021 Efficiency Ratio 74.57% 91.96% 100.81% 78.20% 58.83% 57.26% Net Interest Income 50,325$ 42,200$ 177,982$ 205,876$ 266,777$ 233,134$ Non-Interest Income 8,471 7,452 1,894 27,379 30,400 38,831 Total Income 58,796$ 49,652$ 179,876$ 233,255$ 297,177$ 271,965$ Non-Inte