Columbia Financial, Inc.

Listed Company

CLBKCIK 0001723596NasdaqAcceleratedSavings Institution, Federally CharteredDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$51.77M

Total Assets

—

Equity

—

Shares Out

104.05M

Op. Cash Flow

$68.40M

Business

Columbia Financial, Inc. is a bank holding company that operates through its primary banking subsidiary, Columbia Bank, providing deposit, lending and financial services to individuals and businesses. It offers retail and commercial deposit products, multifamily and commercial real estate loans, one-to-four family residential mortgages, construction and commercial business loans, home equity and other consumer loans, title insurance, insurance agency services and wealth management through third-party relationships. Key business segments include commercial banking, consumer banking, mortgage and construction lending, and nonbank subsidiaries such as title and insurance agencies. Columbia Financial distributes its products primarily through a network of full-service branches in New Jersey, online channels, brokered and reciprocal deposit placement services, and referral relationships in the New York City and Philadelphia suburban markets.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans receivable	403	382	344	264	229
Debt securities available for sale and equity securities	40	36	28	34	30
Debt securities held to maturity	11	10	10	10	9
Federal funds and interest-earning deposits	11	15	8	474,000	430,000
Federal Home Loan Bank stock dividends	5	8	5	2	2
Total interest income	471	451	395	310	270
Deposits	197	202	125	28	29
Borrowings	52	71	64	15	8
Total interest expense	249	273	189	43	—
Net interest income	222	178	206	267	233
Provision for credit losses	10	14	5	5	−10
Net interest income after provision for credit losses	212	164	201	261	243
Bank-owned life insurance	8	7	10	7	6
Loan fees and service charges	6	4	5	—	—
Gain (loss) on securities transactions	290,000	−36	−11	210,000	2
Change in fair value of equity securities	873,000	3	695,000	−401,000	−2
Gain on sale of loans	928,000	906,000	1	178,000	11
Gain on sale of real estate owned	281,000	0	0	—	—
Other non-interest income	10	13	14	10	9
Total non-interest income	37	2	27	30	39
Compensation and employee benefits	119	109	121	117	100
Occupancy	24	23	23	23	20
Federal deposit insurance premiums	7	8	9	3	2
Advertising	2	3	3	3	2
Professional fees	11	14	10	8	7
Data processing and software expenses	17	16	15	13	11
Merger-related expenses	214,000	2	606,000	3	822,000
Loss on extinguishment of debt	0	3	300,000	0	3
Other non-interest expense	−48,000	3	1	—	—
Total non-interest expense	181	181	182	175	156
Income (loss) before income tax expense (benefit)	68	−16	46	117	126
Income tax expense (benefit)	16	−4	10	31	34
Net income (loss)	52	−12	36	86	92
Earnings (loss) per share - basic (in dollars per share)	0.51	−0.11	0.35	0.82	0.88
Earnings (loss) per share - diluted (in dollars per share)	0.51	−0.11	0.35	0.81	0.88
Weighted average shares outstanding - basic (in shares)	102	102	103	106	104
Weighted average shares outstanding - diluted (in shares)	102	102	103	106	104

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	341	289	423	179	71
Short-term investments	111,000	110,000	109,000	131,000	261,000
Total cash and cash equivalents	341	289	423	179	71
Debt securities available for sale, at fair value	1,122	1,026	1,094	1,329	1,704
Debt securities held to maturity, at amortized cost (fair value of $367,289 and $350,153 at December 31, 2025 and 2024, respectively)	396	393	401	422	—
Equity securities, at fair value	7	7	4	3	3
Federal Home Loan Bank stock	65	60	81	58	23
Loans receivable	8,292	7,917	7,875	7,678	6,361
Less: allowance for credit losses	67	60	55	53	63
Loans receivable, net	8,225	7,857	7,819	7,625	6,298
Accrued interest receivable	41	40	39	34	28
Office properties and equipment, net	83	82	84	84	79
"Bank-owned life insurance (""BOLI"")"	283	275	268	265	248
Goodwill and intangible assets	120	121	123	125	92
Other real estate owned	0	1	0	—	—
Other assets	336	324	308	285	250
Total assets	11,019	10,475	10,646	10,408	9,224
Deposits	8,444	8,096	7,847	8,001	7,570
Borrowings	1,183	1,081	1,529	1,127	377
Advance payments by borrowers for taxes and insurance	46	45	44	45	36
Accrued expenses and other liabilities	185	173	186	181	161
Total liabilities	9,858	9,395	9,605	9,355	8,145
Preferred stock, $0.01 par value. 10,000,000 shares authorized; none issued and outstanding at December 31, 2025 and 2024	0	0	0	0	0
Common stock, $0.01 par value. 500,000,000 shares authorized; 131,624,028 shares issued and 103,984,649 shares outstanding at December 31, 2025, and 131,414,591 shares issued and 104,759,185 shares outstanding at December 31, 2024	1	1	1	1	1
Additional paid-in capital	807	799	791	781	668
Retained earnings	934	882	894	858	765
Accumulated other comprehensive loss	−76	−110	−159	−179	−46
Treasury stock, at cost; 27,639,379 shares at December 31, 2025 and 26,655,406 shares at December 31, 2024	−476	−461	−454	−372	−272
Common stock held by the Employee Stock Ownership Plan	−28	−30	−32	−35	−37
Stock held by Rabbi Trust	−3	−3	−3	−3	−2
Deferred compensation obligations	3	2	2	3	2
Total stockholders' equity	1,161	1,080	1,040	1,054	1,079
Total liabilities and stockholders' equity	11,019	10,475	10,646	10,408	9,224

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of deferred loan costs, fees and purchased premiums and discounts	6	4	6	6	2
Net amortization of premiums and discounts on securities	−4	−819,000	1	3	4
Net amortization of mortgage servicing rights	214,000	241,000	239,000	233,000	266,000
Amortization of intangible assets	2	2	2	2	1
Depreciation and amortization of office properties and equipment	9	8	8	7	7
Amortization of operating lease right-of-use assets	4	4	4	4	4
(Gain) loss on securities transactions	−290,000	36	11	−210,000	−2
Change in fair value of equity securities	−873,000	−3	−695,000	401,000	2
Gain on securitizations	−129,000	0	0	0	−2
Gain on sale of loans, net	−799,000	−906,000	−1	−178,000	−9
Loss on write-down of other real estate owned	0	640,000	0	—	—
Loss (gain) on disposal of office properties and equipment, net	21,000	−188,000	168,000	242,000	95,000
Deferred tax expense (benefit)	14	−6	3	13	18
Increase in accrued interest receivable	−1	−1	−5	−5	2
Increase in other assets	−29	−12	−34	−10	−22
Increase (decrease) in accrued expenses and other liabilities	8	−7	3	25	2
Employee stock ownership plan expense	3	4	4	5	4
Stock based compensation	5	6	8	7	9
Increase in deferred compensation obligations under Rabbi Trust	−30,000	−126,000	−47,000	−31,000	3,000
Net cash provided by operating activities	68	33	41	142	99
Proceeds from sales of debt securities available for sale	16	321	277	127	90
Proceeds from sales of equity securities	698,000	0	0	0	1
Proceeds from paydown/maturities/calls of debt securities available for sale	214	158	101	282	368
Proceeds from paydown/maturities/calls of debt securities held to maturity	31	50	20	31	36
Purchases of debt securities available for sale	−272	−405	−125	−147	−667
Purchases of debt securities held to maturity	−33	−42	0	−23	−204
Proceeds from sales of loans held-for-sale	35	19	121	10	302
Purchases of loans receivable	−151	−79	−15	−8	−85
Net (increase) decrease in loans receivable	−281	2	−311	−988	—
Proceeds from bank-owned life insurance death benefits	0	5,000	1	1	5,000
Proceeds from redemptions of Federal Home Loan Bank stock	35	58	91	77	28
Purchases of Federal Home Loan Bank stock	−40	−37	−114	−111	−5
Proceeds from sales of office properties and equipment	0	1	0	2	2
Additions to office properties and equipment	−10	−7	−8	−7	−5
Proceeds from sales of other real estate owned	2	0	0	—	0
Purchase of insurance agency book of business	−1	0	0	—	—
Net cash (used in) provided by investing activities	−454	39	40	−615	−444
Net increase (decrease) in deposits	348	250	−155	−72	581
Proceeds from long-term borrowings	175	271	536	336	37
Payments on long-term borrowings	−104	−485	−11	−39	−307
Net increase (decrease) in short-term borrowings	32	−238	−93	447	−244
Repayment of term note	0	0	−30	0	0
Increase (decrease) in advance payments by borrowers for taxes and insurance	339,000	2	−2	8	3
Issuance of common stock for restricted stock awards	0	0	10,000	0	0
Purchase of treasury stock	−13	−6	−80	−94	−108
Exercise of stock options	−1,000	−99,000	−24,000	−393,000	−25,000
Repurchase of shares for taxes	−441,000	−817,000	−623,000	—	—
Net cash provided by (used in) financing activities	437	−207	164	581	−7
Net increase (decrease) in cash and cash equivalents	52	−134	244	108	−352
Interest on deposits and borrowings	250	274	184	41	38
Income tax payments, net of refunds	2,000	940,000	9	16	16
Transfer of loans receivable to other real estate owned	0	2	0	0	—
Transfer of loans receivable to loans held-for-sale	35	18	121	9	289
Securitization of loans	13	0	0	0	100
Excise tax on net stock repurchases	137,000	42,000	800,000	—	—

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