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GlobeNewswire·

Columbia Financial, Inc. Announces Completion of Second Step Conversion and $1.7 Billion Stock Offering and Acquisition of Northfield Bancorp, Inc.

CLBK
  • Columbia Financial, Inc. completed its conversion from a mutual holding company structure & a public stock offering on July 20, 2026, making the company 100% owned by public stockholders.
  • The merger with Northfield Bancorp, Inc. was finalized simultaneously, resulting in Northfield Bank merging into Columbia Bank.
  • Pro forma financials as of March 31, 2026, show total assets of $18.0 billion, total deposits of $12.5 billion, & total loans held for investment of $11.9 billion.
  • The combined entity operates more than 100 branch offices across New Jersey, Staten Island, & Brooklyn, New York.
  • The company sold 167,236,353 shares of common stock at $10.00 per share in the public offering.
  • Holding Company common stock was exchanged for 2.2000 shares of Company common stock, with cash paid in lieu of fractional shares at $10.00 per share.
  • Northfield common stockholders received $14.25 cash or 1.425 shares of Company common stock per share, subject to elections & proration, totaling a $580 million transaction value.
  • Non-election Northfield shares received $8.06 cash & 0.6185 shares of Company common stock, resulting in a final merger consideration mix of 70% stock & 30% cash.
  • John P. Connors, Jr., Timothy C. Harrison, Steven M. Klein, & Paul V. Stahlin were appointed to the Company's Board of Directors.
  • Steven M. Klein was appointed as Senior Executive Vice President & Chief Operating Officer.
  • Post-transaction, Columbia will have approximately 269,542,256 shares of common stock outstanding.
  • Company common stock began trading on the NASDAQ Global Select Market on July 21, 2026, under the symbol "CLBK".
  • Keefe, Bruyette & Woods, Inc. served as the selling agent & lead-left book running manager, with Piper Sandler & Co. as co-book running manager & Brean Capital, LLC as co-manager.