Columbia Financial, Inc. · NASDAQ:CLBK
Columbia Financial — IPO Roadshow (July 2026)
34 slides from Columbia Financial's IPO roadshow presentation, Jul 7, 2026
Slide 1: Columbia Financial, Inc. Second Step Conversion & Stock Offering
Columbia Financial, Inc. Second Step Conversion & Stock Offering July 2026 Filed Pursuant to Rule 433 Issuer Free Writing Prospectus dated July 7, 2026 Relating to Preliminary Prospectus dated July 7, 2026 Registration No. 333-294103
Slide 2: Disclaimer and Caution About Forward-Looking Statements
Disclaimer and Caution About Forward-Looking Statements Certain statements in this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, which statements involve inherent risks and uncertainties. Examples of forwa
Slide 3: Important Additional Information About the Transaction and Where to Find It
Important Additional Information About the Transaction and Where to Find It Columbia Financial, Inc., a Maryland corporation, has filed with the SEC a Registration Statement on Form S-1 (the “Form S-1 Registration Statement”) that includes a prospectus of Columbia Financial, Inc. (the “Prospectus”)
Slide 4: 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 5: Today's Presenters
Today’s Presenters Thomas J. Kemly President & Chief Executive Officer Years of Experience: 45+ Years at Columbia: 45 President & Chief Executive Officer since January 2012 Active and influential figure in banking: elected to the Federal Home Loan Bank of New York’s Board of Directors in 2020 Member
Slide 6: Offering Summary
Offering Summary Source: Preliminary Firm Commitment Underwriting Prospectus. Issuer Columbia Financial, Inc. Exchange / Symbol Nasdaq Global Select Market / CLBK Price per Share $10.00 Shares Offered 142,375,000 (at the minimum & adjusted minimum) - 192,625,000 (at the maximum) Exchange Ratio 1.872
Slide 7: Transaction Overview
Transaction Overview Source: Preliminary Firm Commitment Underwriting Prospectus. Note: Deposit market share data as of 6/30/2025. (1) “Community Bank” defined as a bank with less than $50 billion in total assets as of 3/31/2026. Reasons for the Offering Enhances scale creating a formidable ~$18 bil
Slide 8: Pro Forma Valuation & Net Proceeds
Pro Forma Valuation & Net Proceeds Source: Preliminary Firm Commitment Underwriting Prospectus. Note: Appraisal value and proceeds shown at Columbia Financial consolidated (holding company) level. (1) Assumes 100% of the shares issued to NFBK are part of the community offering. (2) Does not include
Slide 9: Investment Highlights
Investment Highlights Highly experienced combined management team with diverse experience across financial services Scaled community banking franchise with prominent market share & density in one of the most attractive markets across the country Strong pro forma operating profile positioned for sust
Slide 10: Pro Forma Company Snapshot
Pro Forma Company Snapshot Source: S&P Global Market Intelligence. Note: The projections set forth above are estimates that are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ m
Slide 11: Seasoned Combined Management Team With Previous Conversion Experience
Seasoned Combined Management Team With Previous Conversion Experience at Other Institutions Highly Experienced Combined Management Team With Diverse Experience Across Financial Services Columbia’s Current Management Team Additions Through Acquisition of Northfield Mayra L. Rinaldi Executive Vice Pre
Slide 12: ~$18bn Pro Forma Assets
~$18bn Pro Forma Assets(1) Note: Financial data as of respective year end. (1) Pro forma figure (giving effect to the offering and the acquisition) shown at the midpoint of the offering range as of 3/31/2026 as detailed in the Preliminary Firm Commitment Underwriting Prospectus. $10.5bn Assets $10.6
Slide 13: Top Community Player Across Attractive NJ & NY Markets
Top Community Player Across Attractive NJ & NY Markets Source: S&P Global Market Intelligence. Note: Data shown pro forma for acquisition of Northfield Bancorp, Inc. Note: Deposit market share data as of 6/30/2025. (1) “Community Bank” defined as a bank with less than $50 billion in total assets as
Slide 14: Strong Core Deposit Funding Base
Strong Core Deposit Funding Base Pro Forma(1) Savings & Club Deposits Money Market Accounts NIB Demand Deposits CDs Interest-Bearing Demand Deposits Savings & Club Deposits Money Market Accounts NIB Demand Deposits CDs Interest-Bearing Demand Deposits Savings & Club Deposits Money Market Accounts NI
Slide 15: Diversified & Complementary Lending Verticals
Diversified & Complementary Lending Verticals Note: Financial data as of 3/31/2026 unless otherwise noted. Note: Excludes loans classified as “Other” due to de minimis balances (less than 1% of the total loan portfolios). (1) Excludes purchase accounting adjustments unless otherwise noted. (2) Exclu
Slide 16: Focused Commercial Business Strategy
Focused Commercial Business Strategy Note: Data as of 3/31/2026. (1) Measures annual growth rate from 12/31/2021 to 3/31/2026. (2) Figure shows pro forma for acquisition of NFBK, excludes purchase accounting adjustments. Demonstrated Historical Growth Go-Forward Strategy Focused on growth continuing
Slide 17: Track Record of Disciplined Credit Culture
Track Record of Disciplined Credit Culture NCOs / Avg. Loans CLBK NFBK Appraisal Peers(1) Source: S&P Global Market Intelligence. Note: Financial data for each respective period end. (1) Peer medians based on the peer group presented by RP Financial, LC. in its independent appraisal (includes KRNY,
Slide 18: Strong Operating Profile Positioned for Sustained Performance
Strong Operating Profile Positioned for Sustained Performance Tangible Common Equity / Tangible Assets(1) Efficiency Ratio(1) Core Return on Average Assets(1) Commercial Real Estate / Total Risk-Based Capital(5) Core(1) Source: S&P Global Market Intelligence. Note: Standalone financial data as of or
Slide 19: Review of Potential Capital Management Strategies
Review of Potential Capital Management Strategies Source: S&P Global Market Intelligence. Note: Standalone and Peer financial data as of or for the quarter ended 3/31/2026. Note: Pro forma figures (giving effect to the offering and the acquisition) shown at the midpoint of the offering range as of 3
Slide 20: Compelling Valuation Opportunity With Potential Upside
Compelling Valuation Opportunity With Potential Upside Source: S&P Global Market Intelligence. Note: Financial data as of most recent quarter available. Note: Data not shown pro forma for pending or recently completed transactions. Note: Market data as of 7/2/2026. (1) Tangible Book Value Per Share
Slide 21: Appendix
Appendix weQ | 21
Slide 22: Company Snapshot (Columbia)
Company Snapshot New Jersey Dedicated Branch Footprint Trusted Community Banking Partner: In business since 1927, Columbia Bank has served commercial and consumer clients in and around New Jersey for almost 100 years Seasoned Executives: Management led by President and CEO Thomas J. Kemly. Mr. Kemly
Slide 23: Company Snapshot (Northfield)
Company Snapshot Trenton Prominent New Jersey and Metro New York Footprint Long Operating History with Deep Roots: 135+ years in the market, evolving from a savings and loan association into a robust publicly traded bank holding company Strong Core Markets: Top three counties by deposits (77% of Nor
Slide 24: Overview of the Acquisition of Northfield
Overview of the Acquisition of Northfield Note: Unless otherwise noted, pro forma figures (giving effect to the offering and the acquisition) are shown at announcement and at the midpoint of the preliminary appraisal conducted by RP Financial as detailed in the CLBK Merger Presentation dated 2/2/202
Slide 25: Comprehensive Due Diligence
Comprehensive Due Diligence 70+ professionals (inclusive of advisors and consultants) conducted a comprehensive due diligence review of Northfield over a more than 30-day period In person and virtual due diligence review of all functional areas, in addition to business strategies, clients, employees
Slide 26: Investor / Non-Owner Occupied CRE
Investor / Non-Owner Occupied CRE Note: Financial data as of 3/31/2026. Note: “Other NJ” and “Other NY” include the aggregate Investor CRE loan balances for all counties in each state not already listed. “Other (Nationwide)” includes the aggregate Investor CRE loan balance in all counties outside of
Slide 27: Investor / Non-Owner Occupied CRE
Investor / Non-Owner Occupied CRE Note: Financial data as of 3/31/2026. Note: “Other NJ”, “Other NY” and “Other PA” include the aggregate Investor CRE loan balances for all counties in each state not already listed. Note: Excludes loans classified as PCD. Note: Figures may not sum due to rounding. P
Slide 28: Overview of Northfield's Rent-Regulated Multifamily Portfolio
Overview of Northfield’s Rent-Regulated Multifamily Portfolio County Balance ($mm) LTV (%) DSCR (x) Kings $176 49.3% 1.57x Bronx $114 50.0% 1.64x New York $44 45.4% 1.50x Queens $36 43.0% 1.92x Richmond $31 59.6% 1.36x Westchester $13 57.3% 1.21x Nassau $2 35.1% 2.13x Total $416 49.5% 1.59x Westches
Slide 29: Overview of Investor / Non-Owner Occupied Office Portfolio
Overview of Investor / Non-Owner Occupied Office Portfolio Note: Financial data as of 3/31/2026. Note: “Other NJ”, “Other NY” and “Other PA” include the aggregate office loan balances for all counties in each state not already listed. (1) Excludes Medical Office loans. (2) Excludes loans classified
Slide 30: Overview of C&I Portfolio
Overview of C&I Portfolio Note: Financial data as of 3/31/2026. Note: “Other NJ” and “Other NY” include the aggregate commercial loan balances for all counties in each state not already listed. “Other (Nationwide)” includes the aggregate commercial loan balance in all counties outside of New Jersey
Slide 31: Asset Quality
Asset Quality Non-Accrual Loans / Total Loans (%) Allowance For Credit Losses (ACL) / Loans (%)(1) CLBK NFBK Appraisal Peers Net Charge-Offs / Average Loans (%)(2) ACL / Non-Performing Assets (%)(3) CLBK NFBK Appraisal Peers CLBK NFBK Appraisal Peers CLBK NFBK Appraisal Peers Source: S&P Global Mark
Slide 32: High-Quality Liquid Securities Portfolio
High-Quality Liquid Securities Portfolio Note: Financial data as of 3/31/2026. (1) Includes Mortgage-Backed Securities and Collateralized Mortgage Obligations. (2) Includes pass-through certificates to GSEs ($443.7mm) and real estate mortgage investment conduits or “REMICs” ($885.9mm). (3) Includes
Slide 33: Columbia Non-GAAP Reconciliations
Columbia Non-GAAP Reconciliations Three Months Ended, Three Months Ended, ($ in thousands) 3/31/26 3/31/26 Tangible Common Equity / Tangible Assets Core Return on Average Assets Total stockholders' equity $1,173,722 Net income $13,099 Less: goodwill (110,715) Add: severance expense, net of tax - Les
Slide 34: Northfield Non-GAAP Reconciliations
Non-GAAP Reconciliations Northfield Non-GAAP Reconciliations Three Months Ended, ($ in thousands) 3/31/26 Tangible Common Equity / Tangible Assets Total stockholders' equity $694,690 Less: goodwill - Less: other intangible assets - Tangible common equity $694,690 Total assets $5,735,202 Less: goodwi