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GlobeNewswire·

Columbia Financial, Inc. Announces the Results of Its Offering; Final Merger Consideration; and Anticipated Closing Date

CLBK
  • Columbia Financial, Inc. completed its firm commitment underwritten offering & subscription offering as part of its second-step conversion.
  • The Company expects to sell 167,236,353 shares of common stock at $10.00 per share for total proceeds of $1.67 billion.
  • Orders for 52,291,781 shares were accepted in the firm commitment underwritten offering, while 114,944,572 shares were subscribed in the offering portion.
  • Keefe, Bruyette & Woods, Inc. served as the lead-left book running manager for the underwritten offering & selling agent for the subscription offering.
  • Existing Holding Company common stock held by minority shareholders will be exchanged for 2.2000x shares of Company common stock.
  • Cash in lieu of fractional shares will be paid at a rate of $10.00 per share.
  • The Company expects to complete the acquisition of Northfield Bancorp Inc. immediately upon conversion completion.
  • Northfield stockholders will receive $14.25 in cash, 1.425 shares of Company common stock, or a combination thereof for each share of Holding Company common stock.
  • Non-election shares for Northfield stockholders will result in a mix of 70% stock & 30% cash based on proration procedures.
  • The transactions are scheduled to close on July 20, 2026, at which time Columbia Bank MHC will cease to exist & the Company will become a fully public company.
  • Shares of Company common stock are expected to begin trading on the Nasdaq Global Select Market on July 21, 2026, under the symbol "CLBK".
  • Columbia Bank operates 70 full-service banking offices & is headquartered in Fair Lawn, New Jersey.