Columbia Financial, Inc. · NASDAQ:CLBK
Columbia Financial — Sandler O'Neill East Coast Financial Services Conference 2018
13 slides from Columbia Financial's conference presentation, Nov 6, 2018
Slide 1: Sandler O'Neill East Coast Financial Services Conference
NASDAQ: CLBK Sandler O'Neill East Coast Financial Services Conference Thomas K. Kemly President and CEO Dennis E. Gibney EVP, Chief Financial Officer November 7, 2018
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: Background
Background . Columbia Financial Inc. (“CLBK”) is the mid-tier holding company for Columbia Bank (the “Bank”), a community bank with 49 branches. . CLBK is in the mutual holding company (“MHC”) structure and completed its minority stock offering of 46% of the total shares outstanding (43% to deposito
Slide 4: Strategy
Strategy . Increasing earnings through the growth of our balance sheet . Expanding our commercial business relationships . Continuing to emphasize the origination of 1-4 family residential mortgage loans . Increasing fee income through continued growth of fee-based activities . Expanding our franchi
Slide 5: Vested Interest
Vested Interest . Directors and Executive Officers have individually purchased approximately 785 thousand shares as of November 1, 2018. . The IPO purchase limitation for individuals and groups was 55 thousand shares. Insiders did not receive any preference in the IPO and some Executive Officers and
Slide 6: Recent Additions to the Team
Recent Additions to the Team Allyson Schlesinger was appointed as Executive Vice President, Head of Consumer Banking in September 2018. In that role, Ms. Schlesinger is responsible for the Retail Banking, Retail Lending, Wealth Management and Marketing Divisions of Columbia Bank. Ms. Schlesinger was
Slide 7: Lending
Lending . In September 2018, the Bank segregated its lending function from its credit function to provide more independence and enhance credit oversight. . Mark Krukar assumed the role of Chief Credit Officer and Joseph Dempsey was hired as EVP, Head of Commercial Banking. . The Bank intends to cont
Slide 8: Asset Quality
Asset Quality . NPAs to assets have declined from 1.68% of assets at September 30, 2013 to 0.06% of assets at September 30, 2018. . While credit quality is strong, the Company operates in a judicial state with consumer friendly foreclosure and eviction laws and practices which elongate the collectio
Slide 9: Deposits
Deposits . The Company’s primary source of funds is deposits, which are comprised of transaction accounts, money market accounts, savings accounts and certificates of deposit. . Deposit growth is sourced through our retail branch network in conjunction with the efforts of our business development an
Slide 10: Investments and Borrowings
Investments and Borrowings Securities At September 30, 2018 Amortized Fair Cost Value . The $1.2 billion security portfolio, at fair value, is In thousands primarily comprised of government and GSE Securities Available-for-Sale securities. US government and agency obligations$ 54,813 $ 53,163 . The
Slide 11: Earnings
Earnings Columbia Financial, Inc. Summary Income State me nt ($ in thousands) For nine months ended 2018 2017 Interest and dividend income$ 164,508 $ 140,098 Interest expense 43,847 33,723 Net interest income 120,661 106,375 Provision for loan losses 5,900 6,426 Non-interest income 15,280 12,266 Non
Slide 12: Digital Platform and Strategy
Digital Platform and Strategy . The Company completed its core system conversion in 2015 to a state-of-the-art banking platform to facilitate real time transactions. . This real time platform allows the Company to support online account opening, mobile transactions and creates an enhanced user exper
Slide 13: What Differentiates CLBK?
What Differentiates CLBK? . We are fully invested in the success of the Company . We have a long tenured management team and have supplemented the team with strong outside hires. . We are further along in developing our commercial business line than our thrift counterparts . We source the overwhelmi
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