Earnings Releases·Oct 29, 2026, 4:11 PM ET

Columbia Financial, Inc. — Q3 2026 Earnings Summary

Reported GAAP net income of $5.2 million ($0.02/share) for Q3 2026, down from $14.9 million ($0.07/share) in the prior year, while core net income rose 163.6% to $40.6 million ($0.16/share) due to a $25.7 million bargain purchase gain from the Northfield acquisition.
Completed the $5.2 billion asset acquisition of Northfield Bancorp in July 2026, driving a 37.2% quarter-over-quarter increase in total gross loans to $11.6 billion and raising $1.6 billion in common equity via a second-step conversion offering.
Net interest income surged 99.3% to $114.4 million for the quarter, offset by a 116.3% spike in non-interest expenses to $97.5 million, primarily driven by $30.6 million in merger-related costs and increased compensation.
Management expects an additional $9.3 million in annual interest income from recent debt transactions and plans to complete core system conversion in Q1 2027, while reducing exposure to NYC rent-regulated multifamily loans to under 1.0% of total assets.
Total stockholders' equity increased $2.0 billion to $3.2 billion, and the total capital ratio rose to 25.75%, though the company recorded a $40.8 million loss on securities transactions and $1.1 million on loan sales during the quarter.