Columbia Financial, Inc. Announces Q2 2026 Financial Results and Commences Quarterly Cash Dividend
Rhea-AI Summary
Columbia Financial (NASDAQ: CLBK) reported Q2 2026 net income of $14.5 million, or $0.14 per share, up from $12.3 million, or $0.12, in Q2 2025. Core net income was $15.1 million, or $0.15 per share. Net interest income rose $9.2 million to $62.9 million as higher loan balances and yields and lower funding costs expanded net interest margin to 2.44%, up 25 basis points year over year. Commercial loan segments increased $260.6 million versus March 31, 2026.
For the first half of 2026, net income grew to $27.6 million, or $0.27 per share, from $21.2 million, or $0.21. The board declared a new quarterly cash dividend of $0.05 per share, payable August 26, 2026. In July 2026, the company completed a second-step conversion offering raising $1.7 billion in gross proceeds and closed the acquisition of Northfield Bancorp, adding approximately $5.8 billion in assets and bringing pro forma assets to $18.0 billion, deposits to $12.5 billion, and loans to $11.9 billion.
Positive
- Q2 2026 net income up 17.7% year over year to $14.5 million
- Six-month 2026 net income up 30.1% to $27.6 million
- Net interest margin increased to 2.44% in Q2 2026, +25 bps YoY
- Commercial loan segments grew $260.6 million during Q2 2026
- Second-step conversion raised $1.7 billion gross proceeds in July 2026
- Northfield acquisition added about $5.8 billion in assets, pro forma assets $18.0 billion
- Quarterly cash dividend initiated at $0.05 per share
- Interest expense for Q2 2026 decreased 5.5% to $59.3 million
- Provision for credit losses for six months decreased 2.5% to $5.3 million
- Net charge-offs for six months fell to $1.4 million from $4.1 million
Negative
- Q2 2026 provision for credit losses increased 74.7% to $4.3 million
- Q2 2026 non-interest expense rose 10.0% to $49.4 million
- Six-month 2026 non-interest expense increased 9.2% to $96.9 million
- Merger-related expenses increased by $2.6 million for six months 2026
- Six-month 2026 non-interest income declined 5.7% to $17.6 million
- Effective tax rate rose to 27.6% in Q2 and 28.7% for six months 2026
News Market Reaction – CLBK
In the Jul 31 session, CLBK declined 1.28%, reflecting a mild negative market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 20 | Offering acquisition completion | Positive | -54.8% | Completed $1.7 billion offering and Northfield Bancorp acquisition |
| Jul 16 | Offering results update | Positive | +2.0% | Announced expected $1.67 billion offering proceeds and final merger consideration |
| Jul 07 | Firm commitment offering | Positive | +0.3% | Commenced underwritten offering for unsubscribed conversion shares |
| Jul 01 | Offering approvals update | Positive | -0.5% | Received stockholder and depositor approvals for conversion and merger |
| Jun 23 | Subscription demand update | Positive | +0.1% | Reported over 5,000 subscription orders totaling approximately $925 million |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent offering and acquisition announcements produced mixed reactions, ranging from -54.78% to 2.05% over 24 hours.
Key Terms
net interest margin financial
provision for credit losses financial
bank-owned life insurance financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAIR LAWN, N.J., July 30, 2026 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the holding company for Columbia Bank ("Columbia"), reported net income of
For the six months ended June 30, 2026, the Company reported net income of
Mr. Thomas J. Kemly, President and Chief Executive Officer commented: “Second quarter financial results reflected an increase in core net income, attributable to net interest margin expansion, partially offset by merger related costs and a higher income tax rate. The balance sheet experienced growth compared to the prior quarter, driven by depositor stock subscriptions in the Company's second-step conversion offering, coupled with solid commercial loan production."
Financial Highlights
- Net income increased by
$2.2 million , or17.7% , for the quarter ended June 30, 2026 compared to the quarter ended June 30, 2025 and increased$1.4 million for the quarter ended June 30, 2026 compared to the quarter ended March 31, 2026. - Net interest margin of
2.44% for the quarter ended June 30, 2026 increased by 25 basis points compared to2.19% for the quarter ended June 30, 2025 and increased 8 basis points compared to2.36% for the quarter ended December 31, 2025. - Commercial loan segments increased
$260.6 million during the three months ended June 30, 2026, compared to March 31, 2026, which included$78.8 million of commercial business loans. - On July 30, 2026, the Company announced that its Board of Directors has declared a quarterly cash dividend of
$0.05 per share to be paid on August 26, 2026, to stockholders of record as of August 12, 2026.
As previously disclosed, on July 20, 2026, the Company completed its second-step conversion offering and simultaneous acquisition of Northfield Bancorp, Inc. As a result, the Company’s financial condition and results of operations as of June 30, 2026 do not reflect the acquisition of Northfield Bancorp, Inc. The Company's June 30, 2026 financial results reflect a portion of the stock subscriptions which are included in total deposits.
Mr. Kemly further remarked, “The second quarter represented a period of considerable strategic activity for Columbia leading up to the completion of our second-step conversion and acquisition of Northfield Bancorp, Inc. during the third quarter. In July 2026, the Company completed its second-step conversion offering raising gross proceeds of
Impact of Second-Step Conversion Offering and Northfield Bancorp Acquisition
- Subsequent to the merger, on a proforma basis as of March 31, 2026, the Company had
$18.0 billion of total assets,$12.5 billion in total deposits and$11.9 billion in total loans. - Over 100 branch offices throughout the State of New Jersey, Staten Island and Brooklyn, New York.
Results of Operations for the Three Months Ended June 30, 2026 and June 30, 2025
Net income of
Net interest income was
The average yield on loans for the quarter ended June 30, 2026 increased 5 basis points to
Total interest expense was
The Company's net interest margin for the quarter ended June 30, 2026 increased 25 basis points to
The provision for credit losses for the quarter ended June 30, 2026 was
Non-interest income was
Non-interest expense was
Income tax expense was
Results of Operations for the Six Months Ended June 30, 2026 and June 30, 2025
Net income of
Net interest income was
The average yield on loans for the six months ended June 30, 2026 increased 9 basis points to
Total interest expense was
The Company's net interest margin for the six months ended June 30, 2026 increased 28 basis points to
The provision for credit losses for the six months ended June 30, 2026 was
Non-interest income was
Non-interest expense was
Income tax expense was
Balance Sheet Summary
Total assets increased
Cash and cash equivalents increased
Debt securities available for sale increased
Loans receivable, net, increased
Other assets increased
Total liabilities increased
Total stockholders’ equity increased
Asset Quality
The Company's non-performing loans at June 30, 2026 totaled
For the quarter ended June 30, 2026, net charge-offs totaled
The Company's allowance for credit losses on loans was
About Columbia Financial, Inc.
The consolidated financial results include the accounts of Columbia Financial, Inc., its wholly-owned subsidiary Columbia Bank (the "Bank") and the Bank's wholly-owned subsidiaries. Columbia Financial, Inc. is a Maryland corporation organized as Columbia Bank's parent stock holding company. Columbia Bank is a federally chartered savings bank headquartered in Fair Lawn, New Jersey that operates more than 100 full-service banking offices and offers traditional financial services to consumers and businesses in its market area.
Forward Looking Statements
Certain 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 significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to, adverse conditions in the capital and debt markets and the impact of such conditions on the Company’s business activities; changes in interest rates, higher inflation and their impact on national and local economic conditions; changes in monetary and fiscal policies of the U.S. Treasury, the Board of Governors of the Federal Reserve System and other governmental entities; the impact of tariffs, sanctions and other trade policies of the United States and its global trading counterparts; the impact of changing political conditions or federal government shutdowns; the impact of legal, judicial and regulatory proceedings or investigations, competitive pressures from other financial institutions; the effects of general economic conditions on a national basis or in the local markets in which the Company operates, including changes that adversely affect a borrowers’ ability to service and repay the Company’s loans; the effect of acts of terrorism, war or pandemics, including on our credit quality and business operations, as well as its impact on general economic and financial market conditions; changes in the value of securities in the Company’s portfolio; changes in loan default and charge-off rates; fluctuations in real estate values; the adequacy of loan loss reserves; decreases in deposit levels necessitating increased borrowing to fund loans and securities; legislative changes and changes in government regulation; changes in accounting standards and practices; the risk that goodwill and intangibles recorded in the Company’s consolidated financial statements will become impaired; cyber-attacks, computer viruses and other technological risks that may breach the security of our systems and allow unauthorized access to confidential information; the inability of third party service providers to perform; demand for loans in the Company’s market area; the Company’s ability to attract and maintain deposits and effectively manage liquidity; risks related to the implementation of acquisitions, dispositions, and restructurings; and the risk that the Company may not be successful in the implementation of its business strategy, or its integration of acquired financial institutions and businesses.
In addition, with respect to the Company’s recently completed merger with Northfield Bancorp (“Northfield”), such risks, uncertainties and assumptions, include, among others, the following: (i) the possibility that the anticipated benefits of the proposed transaction, including anticipated cost savings and strategic gains, are not realized when expected or at all, including as a result of changes in, or problems arising from, general economic and market conditions, interest and exchange rates, monetary policy, laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which the combined company operates; (ii) the possibility that the integration of the two companies may be more difficult, time-consuming or costly than expected; and ((iii) the impact of purchase accounting with respect to the proposed transaction, or any change in the assumptions used regarding the assets acquired and liabilities assumed to determine their fair value and credit marks. Forward-looking statements are subject to numerous risks and uncertainties, including but not limited to, those set forth in Item 1A of the Company's Annual Report on Form 10-K and those set forth in the Company's Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, all as filed with the Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website, www.sec.gov. Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, the Company's actual results could differ materially from those discussed. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company disclaims any obligation to publicly update or revise any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes, except as required by law.
Non-GAAP Financial Measures
Reported amounts are presented in accordance with U.S. generally accepted accounting principles ("GAAP"). This press release also contains certain supplemental non-GAAP information that the Company’s management uses in its analysis of the Company’s financial results. Specifically, the Company provides measures based on what it believes are its operating earnings on a consistent basis and excludes material non-routine operating items which affect the GAAP reporting of results of operations. The Company’s management believes that providing this information to analysts and investors allows them to better understand and evaluate the Company’s core financial results for the periods presented. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names.
The Company also provides measurements and ratios based on tangible stockholders' equity. These measures are commonly utilized by regulators and market analysts to evaluate a company’s financial condition and, therefore, the Company’s management believes that such information is useful to investors.
A reconciliation of GAAP to non-GAAP financial measures are included at the end of this press release. See "Reconciliation of GAAP to Non-GAAP Financial Measures".
| COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES Consolidated Statements of Financial Condition (In thousands) | |||||
| June 30, | December 31, | ||||
| 2026 | 2025 | ||||
| Assets | (Unaudited) | ||||
| Cash and due from banks | $ | 1,089,479 | $ | 340,695 | |
| Short-term investments | 112 | 111 | |||
| Total cash and cash equivalents | 1,089,591 | 340,806 | |||
| Debt securities available for sale, at fair value | 1,259,489 | 1,122,017 | |||
| Debt securities held to maturity, at amortized cost (fair value of | 393,576 | 396,233 | |||
| Equity securities, at fair value | 5,820 | 6,802 | |||
| Federal Home Loan Bank and Federal Reserve Bank stock, at cost | 81,849 | 64,604 | |||
| Loans receivable | 8,493,610 | 8,292,010 | |||
| Less: allowance for credit losses | 71,065 | 67,201 | |||
| Loans receivable, net | 8,422,545 | 8,224,809 | |||
| Accrued interest receivable | 42,372 | 41,490 | |||
| Office properties and equipment, net | 82,796 | 82,985 | |||
| Bank-owned life insurance | 285,184 | 283,094 | |||
| Goodwill and intangible assets | 119,074 | 120,302 | |||
| Other real estate owned | 5,923 | — | |||
| Other assets | 384,986 | 335,651 | |||
| Total assets | $ | 12,173,205 | $ | 11,018,793 | |
| Liabilities and Stockholders' Equity | |||||
| Liabilities: | |||||
| Deposits | $ | 9,502,065 | $ | 8,444,079 | |
| Borrowings | 1,218,452 | 1,183,472 | |||
| Advance payments by borrowers for taxes and insurance | 51,068 | 45,792 | |||
| Accrued expenses and other liabilities | 205,410 | 184,722 | |||
| Total liabilities | 10,976,995 | 9,858,065 | |||
| Stockholders' equity: | |||||
| Total stockholders' equity | 1,196,210 | 1,160,728 | |||
| Total liabilities and stockholders' equity | $ | 12,173,205 | $ | 11,018,793 | |
| COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES Consolidated Statements of Income (In thousands, except per share data) | |||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||
| Interest income: | (Unaudited) | (Unaudited) | |||||||||||
| Loans receivable | $ | 103,340 | $ | 99,646 | $ | 205,492 | $ | 194,756 | |||||
| Debt securities available for sale and equity securities | 11,315 | 10,301 | 21,538 | 20,043 | |||||||||
| Debt securities held to maturity | 2,851 | 2,922 | 5,607 | 5,733 | |||||||||
| Federal funds and interest-earning deposits | 3,307 | 2,443 | 5,687 | 5,301 | |||||||||
| Federal Home Loan Bank and Federal Reserve Bank stock dividends | 1,438 | 1,179 | 2,798 | 2,821 | |||||||||
| Total interest income | 122,251 | 116,491 | 241,122 | 228,654 | |||||||||
| Interest expense: | |||||||||||||
| Deposits | 46,135 | 49,344 | 92,446 | 99,489 | |||||||||
| Borrowings | 13,198 | 13,444 | 25,367 | 25,137 | |||||||||
| Total interest expense | 59,333 | 62,788 | 117,813 | 124,626 | |||||||||
| Net interest income | 62,918 | 53,703 | 123,309 | 104,028 | |||||||||
| Provision for credit losses | 4,312 | 2,468 | 5,268 | 5,401 | |||||||||
| Net interest income after provision for credit losses | 58,606 | 51,235 | 118,041 | 98,627 | |||||||||
| Non-interest income: | |||||||||||||
| Demand deposit account fees | 2,091 | 2,015 | 4,137 | 3,903 | |||||||||
| Bank-owned life insurance | 2,741 | 1,990 | 4,914 | 3,849 | |||||||||
| Title insurance fees | 829 | 861 | 1,487 | 1,507 | |||||||||
| Loan fees and service charges | 1,791 | 1,744 | 2,985 | 2,800 | |||||||||
| Gain on securities transactions | — | 336 | — | 336 | |||||||||
| Change in fair value of equity securities | 182 | 272 | (982 | ) | 580 | ||||||||
| Gain (loss) on sale of loans | 755 | (15 | ) | 775 | 500 | ||||||||
| Gain on sale of other real estate owned | — | 281 | — | 281 | |||||||||
| Other non-interest income | 2,441 | 2,689 | 4,261 | 4,888 | |||||||||
| Total non-interest income | 10,830 | 10,173 | 17,577 | 18,644 | |||||||||
| Non-interest expense: | |||||||||||||
| Compensation and employee benefits | 31,965 | 28,933 | 63,062 | 57,516 | |||||||||
| Occupancy | 6,782 | 5,968 | 13,579 | 12,153 | |||||||||
| Federal deposit insurance premiums | 1,827 | 1,739 | 3,412 | 3,619 | |||||||||
| Advertising | 665 | 563 | 1,313 | 1,094 | |||||||||
| Professional fees | 2,224 | 3,519 | 3,618 | 6,034 | |||||||||
| Data processing and software expenses | 4,966 | 4,103 | 9,618 | 8,164 | |||||||||
| Merger-related expenses | 819 | — | 2,642 | — | |||||||||
| Other non-interest expense, net | 169 | 81 | (340 | ) | 171 | ||||||||
| Total non-interest expense | 49,417 | 44,906 | 96,904 | 88,751 | |||||||||
| Income before income tax expense | 20,019 | 16,502 | 38,714 | 28,520 | |||||||||
| Income tax expense | 5,533 | 4,197 | 11,129 | 7,315 | |||||||||
| Net income | $ | 14,486 | $ | 12,305 | $ | 27,585 | $ | 21,205 | |||||
| Earnings per share-basic | $ | 0.14 | $ | 0.12 | $ | 0.27 | $ | 0.21 | |||||
| Earnings per share-diluted | $ | 0.14 | $ | 0.12 | $ | 0.27 | $ | 0.21 | |||||
| Weighted average shares outstanding-basic | 101,367,978 | 101,985,784 | 101,317,739 | 101,898,636 | |||||||||
| Weighted average shares outstanding-diluted | 101,946,380 | 101,985,784 | 101,708,284 | 101,898,636 | |||||||||
| COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES Average Balances/Yields | |||||||||||||||||||
| For the Three Months Ended June 30, | |||||||||||||||||||
| 2026 | 2025 | ||||||||||||||||||
| Average Balance | Interest and Dividends | Yield / Cost | Average Balance | Interest and Dividends | Yield / Cost | ||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||
| Interest-earnings assets: | |||||||||||||||||||
| Loans | $ | 8,281,118 | $ | 103,340 | 5.01 | % | $ | 8,059,332 | $ | 99,646 | 4.96 | % | |||||||
| Securities | 1,624,577 | 14,166 | 3.50 | % | 1,493,913 | 13,223 | 3.55 | % | |||||||||||
| Other interest-earning assets | 439,354 | 4,745 | 4.33 | % | 281,611 | 3,622 | 5.16 | % | |||||||||||
| Total interest-earning assets | 10,345,049 | 122,251 | 4.74 | % | 9,834,856 | 116,491 | 4.75 | % | |||||||||||
| Non-interest-earning assets | 907,835 | 860,948 | |||||||||||||||||
| Total assets | $ | 11,252,884 | $ | 10,695,804 | |||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||
| Interest-bearing demand | $ | 1,917,627 | $ | 9,864 | 2.06 | % | $ | 1,938,459 | $ | 10,898 | 2.25 | % | |||||||
| Money market accounts | 1,424,641 | 8,645 | 2.43 | % | 1,332,835 | 9,424 | 2.84 | % | |||||||||||
| Savings and club deposits | 622,373 | 654 | 0.42 | % | 645,167 | 1,114 | 0.69 | % | |||||||||||
| Certificates of deposit | 2,935,893 | 26,972 | 3.68 | % | 2,788,547 | 27,908 | 4.01 | % | |||||||||||
| Total interest-bearing deposits | 6,900,534 | 46,135 | 2.68 | % | 6,705,008 | 49,344 | 2.95 | % | |||||||||||
| FHLB advances | 1,295,513 | 13,066 | 4.05 | % | 1,218,442 | 13,303 | 4.38 | % | |||||||||||
| Junior subordinated debentures | 7,066 | 132 | 7.49 | % | 7,045 | 141 | 8.03 | % | |||||||||||
| Total borrowings | 1,302,579 | 13,198 | 4.06 | % | 1,225,487 | 13,444 | 4.40 | % | |||||||||||
| Total interest-bearing liabilities | 8,203,113 | $ | 59,333 | 2.90 | % | 7,930,495 | $ | 62,788 | 3.18 | % | |||||||||
| Non-interest-bearing liabilities: | |||||||||||||||||||
| Non-interest-bearing deposits | 1,628,692 | 1,443,627 | |||||||||||||||||
| Other non-interest-bearing liabilities | 240,038 | 215,390 | |||||||||||||||||
| Total liabilities | 10,071,843 | 9,589,512 | |||||||||||||||||
| Total stockholders' equity | 1,181,041 | 1,106,292 | |||||||||||||||||
| Total liabilities and stockholders' equity | $ | 11,252,884 | $ | 10,695,804 | |||||||||||||||
| Net interest income | $ | 62,918 | $ | 53,703 | |||||||||||||||
| Interest rate spread | 1.84 | % | 1.57 | % | |||||||||||||||
| Net interest-earning assets | $ | 2,141,936 | $ | 1,904,361 | |||||||||||||||
| Net interest margin | 2.44 | % | 2.19 | % | |||||||||||||||
| Ratio of interest-earning assets to interest-bearing liabilities | 126.11 | % | 124.01 | % | |||||||||||||||
| COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES Average Balances/Yields | |||||||||||||||||||
| For the Six Months Ended June 30, | |||||||||||||||||||
| 2026 | 2025 | ||||||||||||||||||
| Average Balance | Interest and Dividends | Yield / Cost | Average Balance | Interest and Dividends | Yield / Cost | ||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||
| Interest-earnings assets: | |||||||||||||||||||
| Loans | $ | 8,271,951 | $ | 205,492 | 5.01 | % | $ | 7,977,402 | $ | 194,756 | 4.92 | % | |||||||
| Securities | 1,590,580 | 27,145 | 3.44 | % | 1,485,771 | 25,776 | 3.50 | % | |||||||||||
| Other interest-earning assets | 381,127 | 8,485 | 4.49 | % | 299,424 | 8,122 | 5.47 | % | |||||||||||
| Total interest-earning assets | 10,243,658 | 241,122 | 4.75 | % | 9,762,597 | 228,654 | 4.72 | % | |||||||||||
| Non-interest-earning assets | 897,888 | 866,499 | |||||||||||||||||
| Total assets | $ | 11,141,546 | $ | 10,629,096 | |||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||
| Interest-bearing demand | $ | 1,944,573 | $ | 19,930 | 2.07 | % | $ | 1,999,157 | $ | 22,438 | 2.26 | % | |||||||
| Money market accounts | 1,449,238 | 17,709 | 2.46 | % | 1,307,676 | 18,662 | 2.88 | % | |||||||||||
| Savings and club deposits | 622,117 | 1,307 | 0.42 | % | 647,201 | 2,221 | 0.69 | % | |||||||||||
| Certificates of deposit | 2,903,864 | 53,500 | 3.72 | % | 2,772,808 | 56,168 | 4.08 | % | |||||||||||
| Total interest-bearing deposits | 6,919,792 | 92,446 | 2.69 | % | 6,726,842 | 99,489 | 2.98 | % | |||||||||||
| FHLB advances | 1,242,091 | 25,089 | 4.07 | % | 1,140,113 | 24,857 | 4.40 | % | |||||||||||
| Junior subordinated debentures | 7,063 | 263 | 7.51 | % | 7,041 | 280 | 8.02 | % | |||||||||||
| Other borrowings | 718 | 15 | 4.21 | % | — | — | — | % | |||||||||||
| Total borrowings | 1,249,872 | 25,367 | 4.09 | % | 1,147,154 | 25,137 | 4.42 | % | |||||||||||
| Total interest-bearing liabilities | 8,169,664 | $ | 117,813 | 2.91 | % | 7,873,996 | $ | 124,626 | 3.19 | % | |||||||||
| Non-interest-bearing liabilities: | |||||||||||||||||||
| Non-interest-bearing deposits | 1,558,159 | 1,438,262 | |||||||||||||||||
| Other non-interest-bearing liabilities | 237,291 | 218,314 | |||||||||||||||||
| Total liabilities | 9,965,114 | 9,530,572 | |||||||||||||||||
| Total stockholders' equity | 1,176,432 | 1,098,524 | |||||||||||||||||
| Total liabilities and stockholders' equity | $ | 11,141,546 | $ | 10,629,096 | |||||||||||||||
| Net interest income | $ | 123,309 | $ | 104,028 | |||||||||||||||
| Interest rate spread | 1.84 | % | 1.53 | % | |||||||||||||||
| Net interest-earning assets | $ | 2,073,994 | $ | 1,888,601 | |||||||||||||||
| Net interest margin | 2.43 | % | 2.15 | % | |||||||||||||||
| Ratio of interest-earning assets to interest-bearing liabilities | 125.39 | % | 123.99 | % | |||||||||||||||
| COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES Components of Net Interest Rate Spread and Margin | ||||||||||||||
| Average Yields/Costs by Quarter | ||||||||||||||
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | ||||||||||
| Yield on interest-earning assets: | ||||||||||||||
| Loans | 5.01 | % | 5.01 | % | 5.03 | % | 5.04 | % | 4.96 | % | ||||
| Securities | 3.50 | 3.38 | 3.36 | 3.41 | 3.55 | |||||||||
| Other interest-earning assets | 4.33 | 4.78 | 4.69 | 5.24 | 5.16 | |||||||||
| Total interest-earning assets | 4.74 | % | 4.76 | % | 4.77 | % | 4.81 | % | 4.75 | % | ||||
| Cost of interest-bearing liabilities: | ||||||||||||||
| Total interest-bearing deposits | 2.68 | % | 2.71 | % | 2.79 | % | 2.91 | % | 2.95 | % | ||||
| Total borrowings | 4.06 | 4.12 | 4.25 | 4.37 | 4.40 | |||||||||
| Total interest-bearing liabilities | 2.90 | % | 2.92 | % | 3.01 | % | 3.14 | % | 3.18 | % | ||||
| Interest rate spread | 1.84 | % | 1.84 | % | 1.76 | % | 1.67 | % | 1.57 | % | ||||
| Net interest margin | 2.44 | % | 2.42 | % | 2.36 | % | 2.29 | % | 2.19 | % | ||||
| Ratio of interest-earning assets to interest-bearing liabilities | 126.11 | % | 124.59 | % | 124.84 | % | 124.64 | % | 124.01 | % | ||||
| COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES Selected Financial Highlights | ||||||||||||||
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | ||||||||||
| SELECTED FINANCIAL RATIOS(1): | ||||||||||||||
| Return on average assets | 0.52 | % | 0.48 | % | 0.57 | % | 0.55 | % | 0.46 | % | ||||
| Core return on average assets | 0.54 | % | 0.55 | % | 0.57 | % | 0.56 | % | 0.47 | % | ||||
| Return on average equity | 4.92 | % | 4.55 | % | 5.43 | % | 5.23 | % | 4.46 | % | ||||
| Core return on average equity | 5.14 | % | 5.17 | % | 5.50 | % | 5.41 | % | 4.58 | % | ||||
| Core return on average tangible equity | 5.71 | % | 5.75 | % | 6.14 | % | 6.04 | % | 5.14 | % | ||||
| Interest rate spread | 1.84 | % | 1.84 | % | 1.76 | % | 1.67 | % | 1.57 | % | ||||
| Net interest margin | 2.44 | % | 2.42 | % | 2.36 | % | 2.29 | % | 2.19 | % | ||||
| Non-interest income to average assets | 0.39 | % | 0.25 | % | 0.31 | % | 0.36 | % | 0.38 | % | ||||
| Non-interest expense to average assets | 1.76 | % | 1.75 | % | 1.70 | % | 1.65 | % | 1.68 | % | ||||
| Efficiency ratio | 67.01 | % | 70.73 | % | 68.42 | % | 67.04 | % | 70.30 | % | ||||
| Core efficiency ratio | 65.90 | % | 68.02 | % | 68.06 | % | 66.04 | % | 69.41 | % | ||||
| Average interest-earning assets to average interest-bearing liabilities | 126.11 | % | 124.59 | % | 124.84 | % | 124.64 | % | 124.01 | % | ||||
| Net charge-offs/ (recoveries) to average outstanding loans(2) | 0.10 | % | (0.03) % | 0.03 | % | 0.04 | % | 0.04 | % | |||||
| (1)Ratios are annualized when appropriate. | ||||||||||||||
| (2)The June 30, 2025 ratio includes | ||||||||||||||
| ASSET QUALITY DATA: | |||||||||||||||||||
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | |||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||
| Non-accrual loans | $ | 42,988 | $ | 41,375 | $ | 38,000 | $ | 32,529 | $ | 39,545 | |||||||||
| 90+ and still accruing | — | — | — | — | — | ||||||||||||||
| Non-performing loans | 42,988 | 41,375 | 38,000 | 32,529 | 39,545 | ||||||||||||||
| Real estate owned | 5,923 | 5,923 | — | — | — | ||||||||||||||
| Total non-performing assets | $ | 48,911 | $ | 47,298 | $ | 38,000 | $ | 32,529 | $ | 39,545 | |||||||||
| Non-performing loans to total gross loans | 0.51 | % | 0.50 | % | 0.46 | % | 0.40 | % | 0.49 | % | |||||||||
| Non-performing assets to total assets | 0.40 | % | 0.43 | % | 0.34 | % | 0.30 | % | 0.37 | % | |||||||||
| Allowance for credit losses on loans ("ACL") | $ | 71,065 | $ | 68,761 | $ | 67,201 | $ | 65,659 | $ | 64,467 | |||||||||
| ACL to total non-performing loans | 165.31 | % | 166.19 | % | 176.84 | % | 201.85 | % | 163.02 | % | |||||||||
| ACL to gross loans | 0.84 | % | 0.84 | % | 0.82 | % | 0.80 | % | 0.79 | % | |||||||||
| LOAN DATA: | |||||||||||||||||||
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | |||||||||||||||
| (In thousands) | |||||||||||||||||||
| Real estate loans: | |||||||||||||||||||
| One-to-four family | $ | 2,518,768 | $ | 2,543,588 | $ | 2,558,252 | $ | 2,583,162 | $ | 2,629,372 | |||||||||
| Multifamily | 1,768,395 | 1,669,232 | 1,677,613 | 1,612,105 | 1,578,733 | ||||||||||||||
| Commercial real estate | 2,573,823 | 2,472,993 | 2,513,260 | 2,532,329 | 2,517,693 | ||||||||||||||
| Construction | 502,609 | 520,753 | 469,438 | 465,283 | 415,403 | ||||||||||||||
| Commercial business loans | 831,030 | 752,246 | 766,792 | 771,486 | 726,526 | ||||||||||||||
| Consumer loans: | |||||||||||||||||||
| Home equity loans and advances | 248,141 | 249,487 | 255,126 | 256,970 | 256,384 | ||||||||||||||
| Other consumer loans | 2,851 | 2,850 | 2,895 | 2,725 | 2,602 | ||||||||||||||
| Total gross loans | 8,445,617 | 8,211,149 | 8,243,376 | 8,224,060 | 8,126,713 | ||||||||||||||
| Purchased credit deteriorated loans | 9,828 | 10,158 | 10,442 | 10,920 | 11,998 | ||||||||||||||
| Net deferred loan costs, fees and purchased premiums and discounts | 38,165 | 38,371 | 38,192 | 37,580 | 36,788 | ||||||||||||||
| Allowance for credit losses | (71,065 | ) | (68,761 | ) | (67,201 | ) | (65,659 | ) | (64,467 | ) | |||||||||
| Loans receivable, net | $ | 8,422,545 | $ | 8,190,917 | $ | 8,224,809 | $ | 8,206,901 | $ | 8,111,032 | |||||||||
| At June 30, 2026 | ||||||||||
| (Dollars in thousands) | ||||||||||
| Balance | % of Gross Loans | Weighted Average Loan to Value Ratio(1) | Weighted Average Debt Service Coverage(1) | |||||||
| Multifamily Real Estate | $ | 1,768,395 | 20.9 | % | 59.0 | % | 1.51 | |||
| Owner Occupied Commercial Real Estate | $ | 651,597 | 7.7 | % | 60.0 | % | 2.52 | |||
| Investor Owned Commercial Real Estate: | ||||||||||
| Retail / Shopping centers | $ | 536,812 | 6.4 | % | 55.2 | % | 1.57 | |||
| Mixed Use | 317,849 | 3.8 | 61.3 | 1.51 | ||||||
| Industrial / Warehouse | 489,704 | 5.8 | 52.3 | 1.60 | ||||||
| Non-Medical Office | 175,834 | 2.1 | 52.0 | 1.86 | ||||||
| Medical Office | 93,788 | 1.1 | 59.6 | 1.46 | ||||||
| Single Purpose | 58,295 | 0.7 | 64.1 | 1.38 | ||||||
| Other | 249,944 | 3.0 | 51.7 | 2.10 | ||||||
| Total | $ | 1,922,226 | 22.8 | % | 55.2 | % | 1.65 | |||
| Total Multifamily and Commercial Real Estate Loans | $ | 4,342,218 | 51.4 | % | 57.5 | % | 1.72 | |||
| (1)Based on the most recent financial information available. | ||||||||||
| As of June 30, 2026, the Company had loan exposures of approximately | ||||||||||
| DEPOSIT DATA: | |||||||||||||||||||||||
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||
| Balance | Weighted Average Rate | Balance | Weighted Average Rate | Balance | Weighted Average Rate | Balance | Weighted Average Rate | ||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||||||
| Non-interest-bearing demand | $ | 1,555,833 | — | % | $ | 1,508,030 | — | % | $ | 1,517,399 | — | % | $ | 1,490,722 | — | % | |||||||
| Interest-bearing demand | 2,844,989 | 1.37 | 1,882,987 | 1.86 | 1,985,871 | 1.99 | 1,855,724 | 2.04 | |||||||||||||||
| Money market accounts | 1,409,504 | 2.48 | 1,451,274 | 2.43 | 1,465,028 | 2.59 | 1,396,474 | 2.74 | |||||||||||||||
| Savings and club deposits | 636,566 | 0.42 | 625,001 | 0.42 | 623,444 | 0.47 | 638,857 | 0.61 | |||||||||||||||
| Certificates of deposit | 3,055,173 | 3.69 | 2,904,722 | 3.71 | 2,852,337 | 3.80 | 2,858,544 | 3.89 | |||||||||||||||
| Total deposits | $ | 9,502,065 | 1.99 | % | $ | 8,372,014 | 2.16 | % | $ | 8,444,079 | 2.23 | % | $ | 8,240,321 | 2.32 | % | |||||||
| CAPITAL RATIOS: | |||||
| June 30, | December 31, | ||||
| 2026(1) | 2025 | ||||
| Company: | |||||
| Total capital (to risk-weighted assets) | 14.89 | % | 14.92 | % | |
| Tier 1 capital (to risk-weighted assets) | 13.97 | % | 14.03 | % | |
| Common equity tier 1 capital (to risk-weighted assets) | 13.89 | % | 13.94 | % | |
| Tier 1 capital (to adjusted total assets) | 10.32 | % | 10.27 | % | |
| Columbia Bank: | |||||
| Total capital (to risk-weighted assets) | 14.11 | % | 14.09 | % | |
| Tier 1 capital (to risk-weighted assets) | 13.19 | % | 13.20 | % | |
| Common equity tier 1 capital (to risk-weighted assets) | 13.19 | % | 13.20 | % | |
| Tier 1 capital (to adjusted total assets) | 9.75 | % | 9.67 | % | |
| (1)Estimated ratios at June 30, 2026 | |||||
| Reconciliation of GAAP to Non-GAAP Financial Measures | |||||||||
| Book and Tangible Book Value per Share | |||||||||
| June 30, | December 31, | ||||||||
| 2026 | 2025 | ||||||||
| (Dollars in thousands) | |||||||||
| Total stockholders' equity | $ | 1,196,210 | $ | 1,160,728 | |||||
| Less: goodwill | (110,715 | ) | (110,715 | ) | |||||
| Less: core deposit intangible | (6,007 | ) | (6,946 | ) | |||||
| Total tangible stockholders' equity | $ | 1,079,488 | $ | 1,043,067 | |||||
| Shares outstanding | 104,055,967 | 103,984,649 | |||||||
| Book value per share | $ | 11.50 | $ | 11.16 | |||||
| Tangible book value per share | $ | 10.37 | $ | 10.03 | |||||
| Reconciliation of GAAP to Non-GAAP Financial Measures (continued) | |||||||||||||
| Reconciliation of Core Net Income | |||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||
| (In thousands) | |||||||||||||
| Net income | $ | 14,486 | $ | 12,305 | $ | 27,585 | $ | 21,205 | |||||
| Less: gain on securities transactions, net of tax | — | (251 | ) | — | (251 | ) | |||||||
| Add: severance expense, net of tax | — | 354 | — | 517 | |||||||||
| Add: merger-related expenses, net of tax | 650 | — | 1,245 | — | |||||||||
| Add: litigation expenses, net of tax | — | 242 | — | 242 | |||||||||
| Core net income | $ | 15,136 | $ | 12,650 | $ | 28,830 | $ | 21,713 | |||||
| Return on Average Assets | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| (Dollars in thousands) | |||||||||||||||
| Net income | $ | 14,486 | $ | 12,305 | $ | 27,585 | $ | 21,205 | |||||||
| Average assets | $ | 11,252,884 | $ | 10,695,804 | $ | 11,141,546 | $ | 10,629,096 | |||||||
| Return on average assets | 0.52 | % | 0.46 | % | 0.50 | % | 0.40 | % | |||||||
| Core net income | $ | 15,136 | $ | 12,650 | $ | 28,830 | $ | 21,713 | |||||||
| Core return on average assets | 0.54 | % | 0.47 | % | 0.52 | % | 0.41 | % | |||||||
| Return on Average Equity | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| (Dollars in thousands) | |||||||||||||||
| Total average stockholders' equity | $ | 1,181,041 | $ | 1,106,292 | $ | 1,176,432 | $ | 1,098,524 | |||||||
| Less: gain on securities transactions, net of tax | — | (251 | ) | — | (251 | ) | |||||||||
| Add: severance expense, net of tax | — | 354 | — | 517 | |||||||||||
| Add: merger-related expenses, net of tax | 650 | — | 1,245 | — | |||||||||||
| Add: litigation expenses, net of tax | — | 242 | — | 242 | |||||||||||
| Core average stockholders' equity | $ | 1,181,691 | $ | 1,106,637 | $ | 1,177,677 | $ | 1,099,032 | |||||||
| Return on average equity | 4.92 | % | 4.46 | % | 4.73 | % | 3.89 | % | |||||||
| Core return on core average equity | 5.14 | % | 4.58 | % | 4.94 | % | 3.98 | % | |||||||
| Reconciliation of GAAP to Non-GAAP Financial Measures (continued) | |||||||||||||||
| Return on Average Tangible Equity | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| (Dollars in thousands) | |||||||||||||||
| Total average stockholders' equity | $ | 1,181,041 | $ | 1,106,292 | $ | 1,176,432 | $ | 1,098,524 | |||||||
| Less: average goodwill | (110,715 | ) | (110,715 | ) | (110,715 | ) | (110,715 | ) | |||||||
| Less: average core deposit intangible | (6,293 | ) | (8,241 | ) | (6,531 | ) | (8,511 | ) | |||||||
| Total average tangible stockholders' equity | $ | 1,064,033 | $ | 987,336 | $ | 1,059,186 | $ | 979,298 | |||||||
| Core return on average tangible equity | 5.71 | % | 5.14 | % | 5.49 | % | 4.47 | % | |||||||
| Efficiency Ratios | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| (Dollars in thousands) | |||||||||||||||
| Net interest income | $ | 62,918 | $ | 53,703 | $ | 123,309 | $ | 104,028 | |||||||
| Non-interest income | 10,830 | 10,173 | 17,577 | 18,644 | |||||||||||
| Total income | $ | 73,748 | $ | 63,876 | $ | 140,886 | $ | 122,672 | |||||||
| Non-interest expense | $ | 49,417 | $ | 44,906 | $ | 96,904 | $ | 88,751 | |||||||
| Efficiency ratio | 67.01 | % | 70.30 | % | 68.78 | % | 72.35 | % | |||||||
| Non-interest income | $ | 10,830 | $ | 10,173 | $ | 17,577 | $ | 18,644 | |||||||
| Less :gain on securities transactions | — | (336 | ) | — | (336 | ) | |||||||||
| Core non-interest income | $ | 10,830 | $ | 9,837 | $ | 17,577 | $ | 18,308 | |||||||
| Non-interest expense | $ | 49,417 | $ | 44,906 | $ | 96,904 | $ | 88,751 | |||||||
| Less: severance expense | — | (475 | ) | — | (695 | ) | |||||||||
| Less: merger-related expenses | (819 | ) | — | (2,642 | ) | — | |||||||||
| Less: litigation expenses | — | (325 | ) | — | (325 | ) | |||||||||
| Core non-interest expense | $ | 48,598 | $ | 44,106 | $ | 94,262 | $ | 87,731 | |||||||
| Core efficiency ratio | 65.90 | % | 69.41 | % | 66.91 | % | 71.71 | % | |||||||
Columbia Financial, Inc.
Investor Relations Department
(833) 550-0717
