newsfilter
← Latest News
GlobeNewswire·

Columbia Financial, Inc. Announces Q2 2026 Financial Results and Commences Quarterly Cash Dividend

CLBK
  • Columbia Financial, Inc. reported net income of $14.5 million ($0.14 per share) for the quarter ended June 30, 2026, compared to $12.3 million ($0.12 per share) for the same period in 2025.
  • Core net income for the second quarter of 2026 was $15.1 million ($0.15 per share).
  • For the six months ended June 30, 2026, net income totaled $27.6 million ($0.27 per share), up from $21.2 million ($0.21 per share) in 2025.
  • Net interest income for the quarter increased 17.2% to $62.9 million, driven by higher average balances on interest-earning assets & lower costs on deposits & borrowings.
  • The net interest margin expanded 25 basis points to 2.44% for the quarter ended June 30, 2026.
  • Commercial loan segments grew by $260.6 million during the quarter, including $78.8 million in commercial business loans.
  • Total assets increased 10.5% to $12.2 billion, primarily due to a $748.8 million rise in cash & cash equivalents from the second-step conversion offering.
  • Total deposits grew by $1.1 billion to $9.5 billion, with significant increases in interest-bearing demand deposits & certificates of deposit.
  • On July 20, 2026, the company completed its second-step conversion offering raising $1.7 billion & the acquisition of Northfield Bancorp, Inc., which added approximately $5.8 billion in assets.
  • The June 30, 2026 financial results do not reflect the Northfield Bancorp acquisition, though they include stock subscription proceeds in total deposits.
  • Non-performing loans totaled $43.0 million (0.51% of gross loans) at June 30, 2026, an increase from $38.0 million at December 31, 2025.
  • The allowance for credit losses on loans increased to $71.1 million, primarily due to loan growth.
  • The company declared a quarterly cash dividend of $0.05 per share, payable on August 26, 2026, to stockholders of record as of August 12, 2026.
  • Non-interest expense for the quarter rose 10.0% to $49.4 million, driven by higher compensation, data processing costs, & merger-related expenses.
  • Provision for credit losses increased 74.7% to $4.3 million for the quarter, attributed to a $234.5 million increase in total gross loans.
  • The company's effective tax rate for the quarter was 27.6%, up from 25.4% in 2025, mainly due to non-deductible merger-related expenses.