Columbia Financial, Inc. · NASDAQ:CLBK

Columbia Financial — Merger or Acquisition (June 2021)

8 slides from Columbia Financial's merger presentation, Jun 17, 2021

  1. Slide 1: Columbia Financial, Inc. June 17, 2021

    NASDAQ: CLBK June 17, 2021

  2. Slide 2: Safe Harbor Statement

    2 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 S

  3. Slide 3: Transaction Overview

    3 CLBK shares issued to CLBK’s MHC Within 2 years TRANSACTION OVERVIEW Assumed Valuation / Shares Issued Transaction Mechanics $49.5 mm To be based on independent appraisal ÷ $16.96 CLBK Stock (prior to close)* 2.92 mm Shares issued to Columbia Bank MHC Freehold MHC Freehold Bancorp Freehold Bank 10

  4. Slide 4: Overview of Freehold Bank

    4 SOURCE: S&P GLOBAL MARKET INTELLIGENCE AS OF 3/31/21, UNLESS OTH ERWISE NOTED OVERVIEW OF FREEHOLD BANK Company Overview Headquarters: Freehold, NJ Assets: $299.8 million Gross Loans: $155.9 million Total Deposits: $197.2 million Tang. Common Equity: $39.5 million TCE / TA: 13.18% LTM Net Income:

  5. Slide 5: Deposit market share rankings

    5 2020 Rank Institution Branches Deposits in Market ($000) Market Share (%) 1 The Toronto-Dominion Bank 17 4,572,486 15.59 2 Wells Fargo & Company 28 4,093,240 13.96 3 Bank of America Corporation 17 3,701,967 12.62 4 Banco Santander, S.A. 24 3,105,857 10.59 5 JPMorgan Chase & Co. 20 2,369,283 8.08 6

  6. Slide 6: Transaction Assumptions & Projections

    6 * BASED ON VALUATION EQUAL TO FCTBV OF 100% ASSUMING 14% IN CONV ERSION RELATED EXPENSES TRANSACTION ASSUMPTIONS & PROJECTIONS • Closing Q4 of 2021 • 2.92 million shares issued to Columbia Bank, MHC • $4.4 million in pre - tax deal expenses paid in 2020, $0.9 million in 2023, and $1.0 million in 2

  7. Slide 7: Appendix: Mark to Market Adjustments

    7 APPENDIX: MARK TO MARKET ADJUSTMENTS

  8. Slide 8: Pro Forma Equity and Mark-to-Market Adjustments

    8 Pro Forma Equity In $000s unless otherwise noted Freehold Preliminary Valuation $49,500 Freehold Total Equity $39,524 Freehold Transaction Expenses, Net of Tax (1,376) Mark-to-Market Adjustments, Net of Tax 1,427 Freehold Adjusted Total Equity $39,575 Goodwill $9,925 Value of Shares Issued $49,500

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