Columbia Financial, Inc. - Common Stock (CLBK)

FAIR LAWN, N.J., April 30, 2025 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the mid-tier holding company for Columbia Bank ("Columbia"), reported net income of $8.9 million, or $0.09 per basic and diluted share, for the quarter ended March 31, 2025, as compared to a net loss of $1.2 million, or $0.01 per basic and diluted share, for the quarter ended March 31, 2024. Earnings for the quarter ended March 31, 2025 reflected higher net interest income due to both an increase in interest income and a decrease in interest expense, lower provision for credit losses and a decrease in non-interest expense, partially offset by higher income tax expense.

FAIR LAWN, N.J., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the mid-tier holding company for Columbia Bank ("Columbia"), reported a net loss of $21.2 million, or $0.21 per basic and diluted share, for the quarter ended December 31, 2024, as compared to net income of $6.6 million, or $0.06 per basic and diluted share, for the quarter ended December 31, 2023. The net loss for the quarter ended December 31, 2024 reflected lower non-interest income mainly due to the previously disclosed balance sheet repositioning transaction. As part of the Company’s strategy to improve future earnings and expand its net interest margin, the Company sold $352.3 million of debt securities available for sale during the fourth quarter of 2024, and the proceeds from the sale were used to fund loan growth of $72.9 million, purchase $78.1 million of higher yielding debt securities and prepay $170.0 million of higher cost borrowings. This balance sheet repositioning transaction resulted in a pre-tax loss on the sale of securities and extinguishment of debt of $37.9 million. The quarter ended December 31, 2024 results also reflected a higher provision for credit losses, partially offset by higher net interest income, mainly due to an increase in interest income, lower non-interest expense and lower income tax expense. For the quarter ended December 31, 2024, the Company reported core net income of $11.4 million, an increase of $1.3 million, or 12.4%, compared to core net income of $10.1 million for the quarter ended December 31, 2023. The benefit of the balance sheet repositioning transaction was modest during the fourth quarter, as the settlement of the transaction occurred late in the quarter. (Refer to "Reconciliation of GAAP to Non-GAAP Financial Measures" for a reconciliation of GAAP net income to core net income.)

FAIR LAWN, N.J., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the mid-tier holding company for Columbia Bank ("Columbia"), reported net income of $6.2 million, or $0.06 per basic and diluted share, for the quarter ended September 30, 2024, as compared to $9.1 million, or $0.09 per basic and diluted share, for the quarter ended September 30, 2023. The income for the quarter ended September 30, 2024 reflected lower net interest income, mainly due to an increase in interest expense, and higher provision for credit losses, partially offset by higher non-interest income and lower income tax expense.

FAIR LAWN, N.J., July 31, 2024 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the mid-tier holding company for Columbia Bank ("Columbia") and Freehold Bank ("Freehold"), reported net income of $4.5 million, or $0.04 per basic and diluted share, for the quarter ended June 30, 2024, as compared to $1.7 million, or $0.02 per basic and diluted share, for the quarter ended June 30, 2023. The income for the quarter ended June 30, 2024 reflected higher non-interest income, mainly due to the 2023 period including a $9.6 million loss on securities transactions, and lower non-interest expense, partially offset by lower net interest income, mainly due to an increase in interest expense, higher provision for credit losses and higher income tax expense. For the quarter ended June 30, 2024, the Company reported core net income of $5.3 million, a decrease of $6.5 million, or 54.9%, compared to core net income of $11.7 million for the quarter ended June 30, 2023.

FAIR LAWN, N.J., April 30, 2024 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the mid-tier holding company for Columbia Bank ("Columbia") and Freehold Bank ("Freehold"), reported a net loss of $1.2 million, or $0.01 per basic and diluted share, for the quarter ended March 31, 2024, as compared to net income of $18.7 million, or $0.18 per basic and diluted share, for the quarter ended March 31, 2023. The net loss for the quarter ended March 31, 2024 reflected lower net interest income, mainly due to an increase in interest expense, a higher provision for credit losses and higher non-interest expense, partially offset by lower income tax expense. For the quarter ended March 31, 2024, the Company reported core net income of $455,000, a decrease of $19.3 million, or 97.7%, compared to core net income of $19.8 million for the quarter ended March 31, 2023.

FAIR LAWN, N.J., Jan. 25, 2024 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the mid-tier holding company for Columbia Bank ("Columbia") and Freehold Bank ("Freehold"), reported net income of $6.6 million, or $0.06 per basic and diluted share, for the quarter ended December 31, 2023, as compared to net income of $21.9 million, or $0.21 per basic and diluted share, for the quarter ended December 31, 2022. Earnings for the quarter ended December 31, 2023 reflected lower net interest income, mainly due to an increase in interest expense, a higher provision for credit losses and higher non-interest expense, which included a one-time Federal Deposit Insurance Corporation special assessment, partially offset by higher non-interest income and a lower income tax expense. For the quarter ended December 31, 2023, the Company reported core net income of $10.1 million, a decrease of $12.0 million, or 54.3%, compared to core net income of $22.2 million for the quarter ended December 31, 2022. (Refer to "Reconciliation of GAAP to Non-GAAP Financial Measures" for a reconciliation of GAAP net income to core net income.)

FAIR LAWN, N.J., Oct. 25, 2023 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the mid-tier holding company for Columbia Bank ("Columbia") and Freehold Bank ("Freehold"), reported net income of $9.1 million, or $0.09 per basic and diluted share, for the quarter ended September 30, 2023, as compared to net income of $20.9 million, or $0.20 per basic share and $0.19 per diluted share, for the quarter ended September 30, 2022. Earnings for the quarter ended September 30, 2023 reflected lower net interest income, mainly due to an increase in interest expense and higher provision for credit losses, partially offset by lower non-interest expense and lower income tax expense. For the quarter ended September 30, 2023, the Company reported core net income of $9.1 million, a decrease of $13.6 million, or 59.8%, compared to core net income of $22.7 million for the quarter ended September 30, 2022.

FAIR LAWN, N.J., July 26, 2023 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the mid-tier holding company for Columbia Bank ("Columbia") and Freehold Bank ("Freehold"), reported net income of $1.7 million, or $0.02 per basic and diluted share, for the quarter ended June 30, 2023, as compared to net income of $23.0 million, or $0.22 per basic and diluted share, for the quarter ended June 30, 2022. The 2023 quarter was significantly impacted by the previously disclosed $9.6 million loss on the sale of available for sale securities and $1.6 million in severance expense recorded in June 2023, related to a reduction in workforce. Earnings for the quarter ended June 30, 2023 reflected lower net interest income, mainly due to an increase in interest expense, lower non-interest income, and higher non-interest expense, partially offset by a lower provision for credit losses and lower income tax expense. For the quarter ended June 30, 2023, the Company reported core net income of $11.7 million, a decrease of $12.1 million, or 50.7%, compared to core net income of $23.8 million for the quarter ended June 30, 2022.

FAIR LAWN, N.J., April 26, 2023 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the mid-tier holding company for Columbia Bank ("Columbia") and Freehold Bank ("Freehold"), reported net income of $18.7 million, or $0.18 per basic and diluted share, for the quarter ended March 31, 2023, as compared to net income of $20.4 million, or $0.20 per basic and diluted share, for the quarter ended March 31, 2022. Earnings for the quarter ended March 31, 2023 reflected lower net interest income and higher non-interest expense, partially offset by lower provision for credit losses, higher non-interest income and lower income tax expense. For the quarter ended March 31, 2023, the Company reported core net income of $19.8 million, a decrease of $2.4 million, or 10.8%, compared to core net income of $22.2 million for the quarter ended March 31, 2022.

FAIR LAWN, N.J., Jan. 25, 2023 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the mid-tier holding company for Columbia Bank ("Columbia") and Freehold Bank ("Freehold"), reported net income of $21.9 million, or $0.21 per basic and diluted share, for the quarter ended December 31, 2022, as compared to net income of $23.3 million, or $0.23 per basic and diluted share, for the quarter ended December 31, 2021. Earnings for the quarter ended December 31, 2022 reflected a higher provision for credit losses and higher non-interest expense, partially offset by higher net interest income and higher non-interest income. The quarter ended December 31, 2021 included a $7.4 million reversal of provision of credit losses.

FAIR LAWN, N.J., Oct. 26, 2022 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the mid-tier holding company for Columbia Bank ("Columbia") and Freehold Bank ("Freehold"), reported net income of $20.9 million, or $0.20 per basic share and $0.19 per diluted share, for the quarter ended September 30, 2022, as compared to net income of $21.0 million, or $0.20 per basic and diluted share, for the quarter ended September 30, 2021. Earnings for the quarter ended September 30, 2022 reflected a higher provision for credit losses and non-interest expense, partially offset by higher net interest income. For the quarter ended September 30, 2022, the Company reported core net income of $22.7 million, an increase of $3.4 million, or 17.5%, compared to core net income of $19.3 million for the quarter ended September 30, 2021.

FAIR LAWN, N.J., July 27, 2022 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the mid-tier holding company for Columbia Bank ("Columbia") and Freehold Bank ("Freehold"), reported net income of $23.0 million, or $0.22 per basic and diluted share, for the quarter ended June 30, 2022, as compared to net income of $26.7 million, or $0.26 per basic and diluted share, for the quarter ended June 30, 2021, partially due to the quarter ended June 30, 2021 including a $7.7 million gain on the sale of commercial business loans granted as part of the Small Business Administration Paycheck Protection Program ("PPP"), in addition to recording $1.3 million in merger expenses and $1.8 million in provision for credit losses on the loans acquired from the RSI Bank acquisition during the quarter ended June 30, 2022. Earnings for the quarter ended June 30, 2022 reflected a higher provision for credit losses, lower non-interest income and lower non-interest expense, partially offset by higher net interest income and higher income tax expense.