Core Insights - Columbia Financial, Inc. reported a significant increase in net income for the quarter ended September 30, 2025, reaching $14.9 million, compared to $6.2 million for the same period in 2024, driven by higher net interest income and reduced credit loss provisions [1][5][15] - For the nine months ended September 30, 2025, net income was $36.1 million, a substantial increase from $9.6 million in the same period of 2024, reflecting similar drivers as the quarterly results [2][15] Financial Performance - Net interest income for the quarter was $57.4 million, an increase of $12.1 million or 26.7% from $45.3 million in the prior year [6][10] - The provision for credit losses decreased to $2.3 million, down 42.9% from $4.1 million in the same quarter of 2024 [11] - Non-interest income rose to $9.9 million, a 9.9% increase from $9.0 million in the prior year [12] - Non-interest expense increased to $45.1 million, up 5.3% from $42.8 million in the same quarter of 2024 [13] Balance Sheet Highlights - Total assets increased by $380.3 million, or 3.6%, to $10.9 billion as of September 30, 2025 [26] - Loans receivable, net, rose by $349.9 million, or 4.5%, to $8.2 billion [29] - Total liabilities increased by $319.8 million, or 3.4%, to $9.7 billion [30] - Total stockholders' equity increased by $60.6 million, or 5.6%, to $1.1 billion [31] Asset Quality - Non-performing loans totaled $32.5 million, or 0.40% of total gross loans, an increase from $21.7 million, or 0.28%, at the end of 2024 [33] - The allowance for credit losses on loans increased to $65.7 million, or 0.80% of total gross loans [35] Strategic Initiatives - The company resumed its share repurchase program in September 2025, authorizing the repurchase of 1,800,000 shares [7] - Management emphasized the strength of core customer relationships and the local economy as key factors in the company's growth strategy [3]

Core Viewpoint - Columbia Financial, Inc. has announced a new stock repurchase program to buy back up to 1,800,000 shares, representing approximately 1.7% of its outstanding common stock, following approval from the Federal Reserve Bank of Philadelphia [1]. Summary by Sections Stock Repurchase Program - The stock repurchase program allows for shares to be repurchased through open market transactions, private transactions, and trading plans compliant with SEC Rule 10b5-1 [2]. - The program will be effective for one year, with the actual number of shares repurchased depending on various factors such as price, market conditions, and corporate liquidity needs [3][4]. - The company is not obligated to repurchase a specific number of shares and may suspend or discontinue the program at any time [3][4]. Company Overview - Columbia Financial, Inc. is the holding company for Columbia Bank, a federally chartered savings bank headquartered in Fair Lawn, New Jersey, operating 69 full-service banking offices [5].

Core Viewpoint - Columbia Financial (CLBK) is positioned as a strong investment opportunity due to its improving earnings outlook and positive analyst sentiment, which is reflected in rising earnings estimates [1][2]. Earnings Estimate Revisions - The trend in earnings estimate revisions indicates growing analyst optimism, which is expected to positively impact the stock price [2]. - For the current quarter, Columbia Financial is projected to earn $0.13 per share, representing a significant increase of +116.7% from the previous year [6]. - Over the last 30 days, the Zacks Consensus Estimate for the current quarter has risen by 13.04%, with two estimates moving higher and no negative revisions [6]. - For the full year, the earnings estimate is $0.48 per share, reflecting a change of +108.7% from the prior year [7]. - The consensus estimate for the current year has increased by 9.09% over the past month, with two estimates moving higher and no negative revisions [7][8]. Zacks Rank and Performance - Columbia Financial has achieved a Zacks Rank 2 (Buy), indicating favorable conditions for investment based on the positive estimate revisions [9]. - The Zacks Rank system has a strong track record, with Zacks 1 (Strong Buy) stocks averaging an annual return of +25% since 2008 [3]. - Stocks with Zacks Rank 1 and 2 are shown to significantly outperform the S&P 500 [9]. Stock Performance - The stock has gained 9.1% over the past four weeks, driven by solid estimate revisions and positive earnings growth prospects [10].

Financial Performance - Net income for the quarter ended June 30, 2025, was $12.3 million, an increase of $7.8 million compared to $4.5 million for the same quarter in 2024[210]. - Net interest income rose to $53.7 million for the quarter ended June 30, 2025, an increase of $9.6 million, or 21.8%, from $44.1 million for the same quarter in 2024[211]. - Non-interest income for the quarter ended June 30, 2025, was $10.2 million, an increase of $993,000, or 10.8%, from $9.2 million for the same quarter in 2024[215]. Assets and Liabilities - Total assets increased by $263.5 million, or 2.5%, to $10.7 billion at June 30, 2025, compared to $10.5 billion at December 31, 2024[203]. - Total liabilities increased by $223.2 million, or 2.4%, to $9.6 billion at June 30, 2025, primarily due to an increase in borrowings of $192.0 million, or 17.8%[207]. - Total stockholders' equity increased by $40.3 million, or 3.7%, to $1.1 billion at June 30, 2025, attributed to net income and an increase in other comprehensive income[209]. Loan and Interest Metrics - Loans receivable, net, increased by $254.1 million, or 3.2%, to $8.1 billion at June 30, 2025, driven by increases in multifamily loans, commercial real estate loans, and commercial business loans[206]. - The average yield on loans increased by 3 basis points to 4.96% for the quarter ended June 30, 2025, compared to 4.93% for the same quarter in 2024[212]. - The Company's net interest margin increased by 38 basis points to 2.19% for the quarter ended June 30, 2025, compared to 1.81% for the same quarter in 2024[214]. - Total interest expense decreased by $6.4 million, or 9.3%, to $62.8 million for the quarter ended June 30, 2025, from $69.2 million for the same quarter in 2024[213]. Interest Rate Sensitivity - As of June 30, 2025, net interest income would decrease by approximately 10.30% if interest rates rise by 200 basis points, and would increase by 9.33% if rates decrease by 200 basis points[258]. - The net portfolio value (NPV) is projected to decrease by 16.34% with an immediate and sustained 200 basis point increase in interest rates, while a decrease of 200 basis points would forecast a 12.62% increase in NPV[259]. Capital Ratios - As of June 30, 2025, the total capital to risk-weighted assets ratio was 14.18%, exceeding the minimum requirement of 8.00%[269]. - The Tier 1 capital to risk-weighted assets ratio was 13.35% as of June 30, 2025, above the minimum requirement of 6.00%[269]. - The common equity tier 1 capital to risk-weighted assets ratio was 13.27% as of June 30, 2025, surpassing the minimum requirement of 4.50%[269]. - As of June 30, 2025, Columbia Bank's total capital to risk-weighted assets ratio was 14.40%, also exceeding the minimum requirement[270]. Liquidity Management - The company has contingency funding plans to assess liquidity needs arising from stress events, ensuring adequate liquidity sources are available[265]. - The Asset/Liability Committee measures liquidity risks and reviews adherence to policies quarterly, ensuring effective liquidity management[264]. - The company maintains diverse borrowing resources to mitigate liquidity risk, funding less liquid assets with stable sources[263]. - The company had immediate access to approximately $2.5 billion and $2.7 billion in funding from various sources as of June 30, 2025, and December 31, 2024, respectively[266].

Core Insights - Columbia Financial reported revenue of $63.88 million for the quarter ended June 2025, reflecting a year-over-year increase of 19.9% [1] - The earnings per share (EPS) for the quarter was $0.12, up from $0.05 in the same quarter last year, indicating strong growth [1] - The reported revenue exceeded the Zacks Consensus Estimate of $61.85 million by 3.28%, and the EPS also surpassed the consensus estimate of $0.11 by 9.09% [1] Financial Performance Metrics - Efficiency Ratio was reported at 70.3%, better than the estimated 72.9% by analysts [4] - Net Interest Margin stood at 2.2%, matching the average estimate [4] - Average Interest Earning Assets were $9.83 billion, slightly below the average estimate of $9.84 billion [4] - Total Non-Interest Income was $10.17 million, exceeding the average estimate of $8.68 million [4] - Net Interest Income was reported at $53.7 million, above the average estimate of $53.2 million [4] Stock Performance - Columbia Financial's shares have returned -8.1% over the past month, contrasting with the Zacks S&P 500 composite's increase of 2.7% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Financial Performance - Columbia Financial, Inc. reported net income of $12.3 million, or $0.12 per share, for Q2 2025, a significant increase from $4.5 million, or $0.04 per share, in Q2 2024[2] - For the six months ended June 30, 2025, net income was $21.2 million, up 526.4% from $3.4 million for the same period in 2024[14] - Net income for the first half of 2025 was $21,205,000, significantly higher than $3,385,000 in the same period of 2024, marking a 527% increase[42] - Earnings per share (basic) for Q2 2025 was $0.12, compared to $0.04 in Q2 2024, indicating a 200% increase[42] Income and Expenses - Net interest income for Q2 2025 was $53.7 million, an increase of $9.6 million, or 21.8%, compared to $44.1 million in Q2 2024[6] - Non-interest income rose to $10.2 million in Q2 2025, an increase of $993,000, or 10.8%, from $9.2 million in Q2 2024[11] - Non-interest expense decreased by $1.3 million, or 2.9%, to $44.9 million in Q2 2025 from $46.2 million in Q2 2024[12] - Total non-interest expense decreased to $44,906,000 in Q2 2025 from $46,247,000 in Q2 2024, a reduction of 3%[42] - Non-interest income increased to $10,173,000 in Q2 2025, up from $9,180,000 in Q2 2024, representing an 11% growth[42] - Core non-interest income for Q2 2025 was $9,837,000, a slight increase from $9,180,000 in Q2 2024[63] - Core non-interest expense for Q2 2025 was $44,106,000, a reduction from $45,452,000 in Q2 2024[63] Assets and Liabilities - Total assets increased by $263.5 million, or 2.5%, to $10.7 billion at June 30, 2025, compared to $10.5 billion at December 31, 2024[24] - Total liabilities increased by $223.2 million, or 2.4%, to $9.6 billion at June 30, 2025, from $9.4 billion at December 31, 2024[28] - Total deposits increased by $39.3 million, or 0.5%, at June 30, 2025[28] - Total gross loans increased to $8,126,713 thousand as of June 30, 2025, up from $7,980,973 thousand in March 31, 2025, representing a growth of 1.83%[53] Credit Quality - The provision for credit losses for the six months ended June 30, 2025, was $5.4 million, a decrease of $2.1 million, or 27.7%, from $7.5 million in the same period in 2024[20] - Non-performing loans totaled $39.5 million, or 0.49% of total gross loans, at June 30, 2025, compared to $21.7 million, or 0.28%, at December 31, 2024[30] - The allowance for credit losses on loans was $64.5 million, or 0.79% of total gross loans, at June 30, 2025, compared to $60.0 million, or 0.76%, at December 31, 2024[32] - Net charge-offs for the quarter ended June 30, 2025, totaled approximately $3.2 million, compared to $533,000 for the same quarter in 2024[31] Efficiency and Ratios - The efficiency ratio improved to 70.30% for June 30, 2025, down from 86.83% in June 30, 2024, indicating better operational efficiency[51] - The return on average assets for June 30, 2025, was 0.46%, an increase from 0.17% in June 30, 2024, while the return on average equity rose to 4.46% from 1.77%[51] - The interest rate spread improved to 1.57% in Q2 2025 from 1.15% in Q2 2024[44] - The net interest margin increased to 2.19% in Q2 2025, compared to 1.81% in Q2 2024[44] - Core return on average tangible equity was 5.14% for the three months ended June 30, 2025, compared to 2.34% for the same period in 2024[61] Capital and Book Value - The Tier 1 capital ratio was 13.35% as of June 30, 2025, a slight decrease from 13.40% at December 31, 2024[55] - Book value per share increased to $10.68 as of June 30, 2025, up from $10.31 at December 31, 2024[56] - The total capital to risk-weighted assets ratio was 14.18% as of June 30, 2025, compared to 14.20% at December 31, 2024[55] Other Financial Metrics - Total income increased to $63,876,000 in Q2 2025, representing a 19.9% growth compared to $53,260,000 in Q2 2024[63] - The company reported a total income of $122,672,000 for the first half of 2025, up 19.2% from $102,912,000 in the first half of 2024[63] - Non-interest income for the first half of 2025 was $18,644,000, an increase of 12.1% compared to $16,632,000 in the first half of 2024[63] - The company recorded a loss of $336,000 on securities transactions in both the second quarter and first half of 2025[63]

Core Insights - Columbia Financial, Inc. reported a significant increase in net income for the second quarter of 2025, reaching $12.3 million, compared to $4.5 million in the same quarter of 2024, driven by higher net interest income and reduced non-interest expenses [1][4][12]. Financial Performance - For the quarter ended June 30, 2025, net interest income was $53.7 million, an increase of $9.6 million or 21.8% from $44.1 million in the same quarter of 2024 [5][9]. - Non-interest income rose to $10.2 million, up $993,000 or 10.8% from $9.2 million year-over-year [10]. - Non-interest expenses decreased to $44.9 million, down $1.3 million or 2.9% from $46.2 million in the prior year [11]. - The effective tax rate increased to 25.4% for the quarter ended June 30, 2025, compared to 5.8% in the same quarter of 2024, primarily due to higher pre-tax income [12]. Year-to-Date Results - For the six months ended June 30, 2025, net income was $21.2 million, a substantial increase of $17.8 million or 526.4% from $3.4 million in the same period of 2024 [2][13]. - Net interest income for the first half of 2025 was $104.0 million, an increase of $17.7 million or 20.6% from $86.3 million in the first half of 2024 [14][18]. - Non-interest income for the six months increased to $18.6 million, up $2.0 million or 12.1% from $16.6 million year-over-year [20]. - Non-interest expenses decreased to $88.8 million, down $3.2 million or 3.4% from $91.9 million in the prior year [21]. Balance Sheet Highlights - Total assets increased by $263.5 million or 2.5% to $10.7 billion as of June 30, 2025, compared to $10.5 billion at the end of 2024 [23]. - Loans receivable, net, rose by $254.1 million or 3.2% to $8.1 billion, driven by increases in multifamily, commercial real estate, and commercial business loans [27]. - Total liabilities increased by $223.2 million or 2.4% to $9.6 billion, primarily due to a $192.0 million increase in borrowings [28]. Asset Quality - Non-performing loans increased to $39.5 million or 0.49% of total gross loans as of June 30, 2025, compared to $21.7 million or 0.28% at the end of 2024 [30]. - The allowance for credit losses on loans increased to $64.5 million, or 0.79% of total gross loans, from $60.0 million or 0.76% at the end of 2024 [32].

[PART I. Financial Information](index=4&type=section&id=PART%20I.%20Financial%20Information) This section provides the unaudited consolidated financial statements and management's analysis of Columbia Financial, Inc. for Q1 2025 [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited consolidated financial statements for Columbia Financial, Inc. and its subsidiaries, including the Statements of Financial Condition, Income (Loss), Comprehensive Income (Loss), Changes in Stockholders' Equity, and Cash Flows, along with detailed notes. Key highlights include a net income of $8.9 million for Q1 2025, a 1.3% increase in total assets to $10.6 billion, and a 1.2% increase in total liabilities to $9.5 billion, primarily driven by growth in deposits and loans [Consolidated Statements of Financial Condition](index=4&type=section&id=Consolidated%20Statements%20of%20Financial%20Condition) Presents the company's financial position, showing a 1.3% increase in total assets to $10.6 billion and a 1.2% rise in total liabilities to $9.5 billion Consolidated Statements of Financial Condition Highlights (in thousands) | Metric | March 31, 2025 | December 31, 2024 | Change | % Change | | :----------------------------- | :------------- | :---------------- | :------- | :------- | | Total assets | $10,607,850 | $10,475,493 | $132,357 | 1.3% | | Cash and due from banks | $255,978 | $289,113 | $(33,135) | -11.5% | | Debt securities available for sale | $1,077,331 | $1,025,946 | $51,385 | 5.0% | | Loans receivable, net | $7,965,274 | $7,856,970 | $108,304 | 1.4% | | Total liabilities | $9,507,507 | $9,395,117 | $112,390 | 1.2% | | Deposits | $8,194,935 | $8,096,149 | $98,786 | 1.2% | | Borrowings | $1,107,588 | $1,080,600 | $26,988 | 2.5% | | Total stockholders' equity | $1,100,343 | $1,080,376 | $19,967 | 1.8% | [Consolidated Statements of Income (Loss)](index=5&type=section&id=Consolidated%20Statements%20of%20Income%20(Loss)) Details the company's financial performance, reporting a net income of $8.9 million for Q1 2025, a significant improvement from a loss in Q1 2024 Consolidated Statements of Income (Loss) Highlights (in thousands, except per share data) | Metric | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | Change | % Change | | :-------------------------------- | :-------------------------------- | :-------------------------------- | :------- | :------- | | Net Income (Loss) | $8,900 | $(1,155) | $10,055 | N/A | | Earnings (loss) per share-basic | $0.09 | $(0.01) | $0.10 | N/A | | Earnings (loss) per share-diluted | $0.09 | $(0.01) | $0.10 | N/A | | Net interest income | $50,325 | $42,200 | $8,125 | 19.3% | | Provision for credit losses | $2,933 | $5,278 | $(2,345) | -44.4% | | Non-interest income | $8,471 | $7,452 | $1,019 | 13.7% | | Non-interest expense | $43,845 | $45,658 | $(1,813) | -4.0% | | Income tax expense (benefit) | $3,118 | $(129) | $3,247 | N/A | [Consolidated Statements of Comprehensive Income (Loss)](index=6&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Outlines comprehensive income, showing a total of $18.2 million for Q1 2025, driven by unrealized gains on debt securities Consolidated Statements of Comprehensive Income (Loss) Highlights (in thousands) | Metric | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | Change | | :-------------------------------- | :-------------------------------- | :-------------------------------- | :------- | | Net income (loss) | $8,900 | $(1,155) | $10,055 | | Total other comprehensive income (loss) | $9,318 | $(2,102) | $11,420 | | Total comprehensive income (loss), net of tax | $18,218 | $(3,257) | $21,475 | - The significant increase in total comprehensive income was primarily driven by a positive shift in other comprehensive income, which recorded an unrealized gain on debt securities available for sale of **$11.46 million** in Q1 2025 compared to a loss of **$4.99 million** in Q1 2024[12](index=12&type=chunk)[158](index=158&type=chunk) [Consolidated Statements of Changes in Stockholders' Equity](index=7&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Reports changes in equity, with total stockholders' equity increasing to $1.1 billion by March 31, 2025, due to net income and other comprehensive income Changes in Stockholders' Equity (in thousands) | Metric | Balance at Dec 31, 2024 | Net Income | Other Comprehensive Income (Loss) | Balance at Mar 31, 2025 | | :-------------------------- | :---------------------- | :--------- | :-------------------------------- | :---------------------- | | Total Stockholders' Equity | $1,080,376 | $8,900 | $9,318 | $1,100,343 | [Consolidated Statements of Cash Flows](index=11&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Summarizes cash movements from operating, investing, and financing activities, showing a net decrease in cash of $33.1 million for Q1 2025 Consolidated Statements of Cash Flows Highlights (in thousands) | Activity | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :-------------------------------- | :-------------------------------- | :-------------------------------- | | Net cash (used in) provided by operating activities | $(1,582) | $14,136 | | Net cash (used) in investing activities | $(159,018) | $(49,047) | | Net cash provided by (used in) financing activities | $127,466 | $(14,866) | | Net (decrease) in cash and cash equivalents | $(33,134) | $(49,777) | | Cash and cash equivalents at end of period | $256,089 | $373,472 | [Notes to Unaudited Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) Provides detailed explanations and disclosures supporting the unaudited consolidated financial statements [1. Basis of Financial Statement Presentation](index=13&type=section&id=1.%20Basis%20of%20Financial%20Statement%20Presentation) Details the accounting principles and consolidation methods used for the financial statements, adhering to SEC rules and U.S. GAAP - The consolidated financial statements include Columbia Financial, Inc. and its wholly-owned subsidiaries, prepared in accordance with SEC rules for Form 10-Q and U.S. GAAP[23](index=23&type=chunk)[27](index=27&type=chunk) - Material estimates involve the adequacy of the allowance for credit losses, valuation allowances on deferred tax assets, and liabilities related to retirement and other post-retirement benefits[25](index=25&type=chunk) [2. Acquisition](index=13&type=section&id=2.%20Acquisition) Outlines the acquisition of Freehold Bancorp entities and the subsequent merger, with no merger-related expenses in Q1 2025 - The acquisition of Freehold Bancorp entities was completed on December 1, 2021, with Freehold Bank merging into Columbia Bank on October 5, 2024[29](index=29&type=chunk) Merger-Related Expenses (in thousands) | Period | Amount | | :-------------------------------- | :----- | | Three months ended March 31, 2025 | $0 | | Three months ended March 31, 2024 | $22 | [3. Earnings per Share](index=14&type=section&id=3.%20Earnings%20per%20Share) Presents basic and diluted earnings per share, reporting $0.09 for Q1 2025, a significant improvement from a loss in Q1 2024 Earnings per Share (EPS) (Dollars in thousands, except per share data) | Metric | For the Three Months Ended March 31, 2025 | For the Three Months Ended March 31, 2024 | | :-------------------------------- | :---------------------------------------- | :---------------------------------------- | | Net income (loss) | $8,900 | $(1,155) | | Weighted average shares outstanding - basic | 101,816,716 | 101,746,740 | | Weighted average shares outstanding - diluted | 101,816,716 | 101,988,425 | | Basic EPS | $0.09 | $(0.01) | | Diluted EPS | $0.09 | $(0.01) | - The average number of stock options that were anti-dilutive and not included in diluted EPS totaled **3,894,479** for Q1 2025, up from **823,566** for Q1 2024[33](index=33&type=chunk) [4. Stock Repurchase Program](index=14&type=section&id=4.%20Stock%20Repurchase%20Program) Details the company's stock repurchase activities, noting the expiration of the sixth program and a pause in repurchases to retain capital - The company's sixth stock repurchase program, authorized on May 25, 2023, to acquire up to **2,000,000 shares**, expired in 2024, with repurchases paused to retain capital[34](index=34&type=chunk) - During Q1 2024, the company repurchased **101,516 shares** at a cost of approximately **$1.7 million**, or **$16.28 per share**[35](index=35&type=chunk) [5. Summary of Significant Accounting Policies](index=15&type=section&id=5.%20Summary%20of%20Significant%20Accounting%20Policies) Highlights key accounting policy adoptions and pending updates, including ASU 2023-09 and ASU 2024-03 - The company adopted ASU 2023-09 (Improvements to Income Tax Disclosures) on January 1, 2025, which is disclosure-related and had no impact on its consolidated financial statements[36](index=36&type=chunk) - ASU 2024-03 (Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures) is pending and not expected to impact the consolidated financial statements[37](index=37&type=chunk) [6. Debt Securities Available for Sale](index=15&type=section&id=6.%20Debt%20Securities%20Available%20for%20Sale) Provides details on debt securities available for sale, showing a 5.0% increase in fair value to $1.08 billion and a decrease in unrealized losses Debt Securities Available for Sale (in thousands) | Metric | March 31, 2025 | December 31, 2024 | Change | % Change | | :----------------------------- | :------------- | :---------------- | :------- | :------- | | Amortized Cost | $1,177,370 | $1,141,868 | $35,502 | 3.1% | | Fair Value | $1,077,331 | $1,025,946 | $51,385 | 5.0% | | Gross Unrealized Gains | $4,074 | $1,109 | $2,965 | 267.4% | | Gross Unrealized Losses | $(104,113) | $(117,031) | $12,918 | -11.0% | - The number of securities in an unrealized loss position decreased to **153** at March 31, 2025, from **185** at December 31, 2024[45](index=45&type=chunk) - No sales or maturities of debt securities available for sale occurred during Q1 2025, but there was one partial call totaling **$756,000**[41](index=41&type=chunk) [7. Debt Securities Held to Maturity](index=17&type=section&id=7.%20Debt%20Securities%20Held%20to%20Maturity) Details debt securities held to maturity, with amortized cost increasing by 2.1% to $401.0 million and fair value by 4.1% to $364.4 million Debt Securities Held to Maturity (in thousands) | Metric | March 31, 2025 | December 31, 2024 | Change | % Change | | :----------------------------- | :------------- | :---------------- | :------- | :------- | | Amortized Cost | $400,975 | $392,840 | $8,135 | 2.1% | | Fair Value | $364,428 | $350,153 | $14,275 | 4.1% | | Gross Unrealized Gains | $176 | $8 | $168 | 2100.0% | | Gross Unrealized Losses | $(36,723) | $(42,695) | $5,972 | -14.0% | - All temporarily impaired securities were investment grade as of March 31, 2025, and December 31, 2024[54](index=54&type=chunk) - No sales, calls, or maturities of debt securities held to maturity occurred during Q1 2025 or Q1 2024[52](index=52&type=chunk) [8. Equity Securities at Fair Value](index=19&type=section&id=8.%20Equity%20Securities%20at%20Fair%20Value) Reports on equity securities at fair value, which increased by 4.6% to $7.0 million in Q1 2025 Equity Securities at Fair Value (in thousands) | Metric | March 31, 2025 | December 31, 2024 | Change | % Change | | :--------- | :------------- | :---------------- | :------- | :------- | | Fair Value | $6,981 | $6,673 | $308 | 4.6% | - The company recorded a net increase in the fair value of equity securities of **$308,000** in Q1 2025, compared to **$351,000** in Q1 2024[58](index=58&type=chunk) [9. Loans Receivable and Allowance for Credit Losses](index=20&type=section&id=9.%20Loans%20Receivable%20and%20Allowance%20for%20Credit%20Losses) Details loans receivable and the allowance for credit losses, with net loans increasing by 1.4% to $7.97 billion and the allowance by 3.5% to $62.0 million Loans Receivable and Allowance for Credit Losses (in thousands) | Metric | March 31, 2025 | December 31, 2024 | Change | % Change | | :----------------------------- | :------------- | :---------------- | :------- | :------- | | Loans receivable, net | $7,965,274 | $7,856,970 | $108,304 | 1.4% | | Allowance for credit losses | $62,034 | $59,958 | $2,076 | 3.5% | | Non-accrual loans | $24,856 | $21,701 | $3,155 | 14.5% | | Net charge-offs (Q1) | $991 | $5,122 | $(4,131) | -80.6% | - Multifamily loans increased by **$107.2 million** and commercial real estate loans by **$89.5 million**, while one-to-four family, construction, commercial business, and home equity loans decreased[60](index=60&type=chunk)[191](index=191&type=chunk) - The allowance for credit losses on unfunded commitments, included in other liabilities, totaled **$4.3 million** at March 31, 2025, up from **$3.8 million** at December 31, 2024[95](index=95&type=chunk) [10. Leases](index=35&type=section&id=10.%20Leases) Outlines the company's operating lease arrangements, primarily for real estate, with a weighted average remaining lease term of 5.5 years - All of the company's leases are classified as operating leases, primarily for real estate property[97](index=97&type=chunk) Lease Metrics | Metric | March 31, 2025 | December 31, 2024 | | :-------------------------------- | :------------- | :---------------- | | Weighted average remaining lease term | 5.5 years | 5.7 years | | Weighted average discount rate | 3.16% | 3.30% | | Operating and variable lease expenses (Q1) | $857,000 | $704,000 | [11. Deposits](index=36&type=section&id=11.%20Deposits) Provides a breakdown of deposits, showing a 1.2% increase in total deposits to $8.19 billion, with growth in non-interest-bearing demand and money market accounts Deposits (in thousands) | Deposit Type | March 31, 2025 | December 31, 2024 | Change | % Change | | :-------------------------- | :------------- | :---------------- | :------- | :------- | | Non-interest-bearing demand | $1,490,243 | $1,438,030 | $52,213 | 3.6% | | Interest-bearing demand | $1,935,384 | $2,021,312 | $(85,928) | -4.3% | | Money market accounts | $1,333,668 | $1,241,691 | $91,977 | 7.4% | | Savings and club deposits | $651,713 | $652,501 | $(788) | -0.1% | | Certificates of deposit | $2,783,927 | $2,742,615 | $41,312 | 1.5% | | Total deposits | $8,194,935 | $8,096,149 | $98,786 | 1.2% | | Weighted Average Rate | 2.40% | 2.47% | -0.07% | N/A | - Brokered deposits totaled **$50.0 million** at March 31, 2025, and reciprocal deposit arrangements were **$28.7 million**[104](index=104&type=chunk) [12. Stock Based Compensation](index=37&type=section&id=12.%20Stock%20Based%20Compensation) Details stock-based compensation, including restricted shares and stock options awarded, and associated expenses for Q1 2025 - Under the 2019 Equity Incentive Plan, **209,256 restricted shares** and **454,327 stock options** were awarded in Q1 2025[107](index=107&type=chunk)[111](index=111&type=chunk) Stock-Based Compensation Expense (in thousands) | Metric | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :-------------------- | :-------------------------------- | :-------------------------------- | | Restricted shares | $659 | $1,300 | | Stock options | $475 | $951 | - As of March 31, 2025, there were **559,888 non-vested restricted shares** outstanding with **$5.2 million** in expected future compensation expense, and **870,142 non-vested options** with **$4.6 million** in expected future expense[110](index=110&type=chunk)[114](index=114&type=chunk) [13. Components of Net Periodic Benefit Cost](index=39&type=section&id=13.%20Components%20of%20Net%20Periodic%20Benefit%20Cost) Presents the net periodic benefit cost for various employee plans, with the Pension Plan showing a net periodic income of $(4.3) million Net Periodic (Income) Benefit Cost (in thousands) | Plan | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :-------------------------- | :-------------------------------- | :-------------------------------- | | Pension Plan | $(4,297) | $(3,295) | | RIM Plan | $221 | $251 | | Post-retirement Plan | $338 | $302 | | Split-Dollar Life Insurance | $264 | $279 | - The Pension Plan was closed to new employees effective October 1, 2018, and the Post-retirement Plan was closed to new hires effective January 1, 2019[117](index=117&type=chunk)[119](index=119&type=chunk) [14. Fair Value Measurements](index=40&type=section&id=14.%20Fair%20Value%20Measurements) Explains the categorization of fair value measurements (Level 1, 2, 3) for assets and liabilities, including debt securities and derivatives - The company categorizes fair value measurements into **Level 1** (quoted prices in active markets), **Level 2** (observable inputs), and **Level 3** (unobservable inputs)[123](index=123&type=chunk)[124](index=124&type=chunk)[125](index=125&type=chunk) Assets and Liabilities Measured at Fair Value on a Recurring Basis (March 31, 2025, in thousands) | Asset/Liability | Fair Value | Level 1 | Level 2 | Level 3 | | :------------------------------------------ | :--------- | :-------- | :-------- | :-------- | | Debt securities available for sale | $1,077,331 | $331,869 | $734,966 | $10,496 | | Equity securities | $6,981 | $6,657 | $324 | $0 | | Derivative assets | $13,688 | $0 | $13,688 | $0 | | Derivative liabilities | $14,375 | $0 | $14,375 | $0 | Assets Measured at Fair Value on a Non-Recurring Basis (March 31, 2025, in thousands) | Asset | Fair Value | Level 1 | Level 2 | Level 3 | | :---------------------- | :--------- | :-------- | :-------- | :-------- | | Impaired loans | $7,764 | $0 | $0 | $7,764 | | Other real estate owned | $1,334 | $0 | $0 | $1,334 | | Mortgage servicing rights | $2,411 | $0 | $0 | $2,411 | [15. Other Comprehensive Income (Loss)](index=49&type=section&id=15.%20Other%20Comprehensive%20Income%20(Loss)) Details components of other comprehensive income, showing a total of $9.3 million for Q1 2025, driven by unrealized gains on debt securities Components of Other Comprehensive Income (Loss), Net of Tax (in thousands) | Component | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :---------------------------------------------------------------- | :-------------------------------- | :-------------------------------- | | Unrealized gain (loss) on debt securities available for sale | $11,455 | $(5,891) | | Derivatives | $(2,141) | $3,760 | | Employee benefit plans | $4 | $29 | | Total other comprehensive income (loss) | $9,318 | $(2,102) | - The accumulated other comprehensive loss decreased to **$(101.05) million** at March 31, 2025, from **$(110.37) million** at December 31, 2024[15](index=15&type=chunk)[160](index=160&type=chunk) [16. Derivatives and Hedging Activities](index=51&type=section&id=16.%20Derivatives%20and%20Hedging%20Activities) Describes the company's use of derivatives, primarily interest rate swaps, to manage interest rate risk and for commercial customer transactions - The company uses derivative financial instruments, primarily interest rate swaps, to manage interest rate risk and for commercial customer transactions, not for speculative purposes[161](index=161&type=chunk) Interest Rate Swaps Notional Amounts (in millions) | Type | March 31, 2025 | December 31, 2024 | | :-------------------------------- | :------------- | :---------------- | | Non-designated hedges (commercial customers) | $305.4 | $298.8 | | Cash flow hedges (FHLB advances) | $418.7 | $378.7 | | Fair value hedges (fixed-rate assets) | $100.0 | $850.0 | Derivative Fair Values (in thousands) | Metric | March 31, 2025 | December 31, 2024 | | :-------------------------- | :------------- | :---------------- | | Total derivative assets | $13,688 | $18,895 | | Total derivative liabilities | $14,375 | $20,025 | [17. Segment Reporting](index=53&type=section&id=17.%20Segment%20Reporting) States that the company operates as a single reportable segment, focusing on banking products and services domestically - The company operates as a single reportable segment, primarily offering banking products and services, with all operations being domestic[174](index=174&type=chunk) - The CEO, as the chief operating decision maker, evaluates financial performance based on revenue streams, significant expenses, and consolidated net income against competitors[174](index=174&type=chunk) [18. Revenue Recognition](index=53&type=section&id=18.%20Revenue%20Recognition) Explains the company's revenue recognition policies, noting that most revenue, primarily net interest income, is outside ASC Topic 606 - The majority of the company's revenue, primarily net interest income from financial instruments, is outside the scope of Accounting Standards Codification Topic 606[176](index=176&type=chunk) Non-Interest Income Segregated by Topic 606 Scope (in thousands) | Revenue Stream | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :-------------------------------- | :-------------------------------- | :-------------------------------- | | Total in-scope non-interest income | $4,112 | $3,444 | | Total out-of-scope non-interest income | $4,359 | $4,008 | | Total non-interest income | $8,471 | $7,452 | [19. Subsequent Events](index=54&type=section&id=19.%20Subsequent%20Events) Confirms that no material events requiring disclosure occurred subsequent to March 31, 2025, through May 9, 2025 - The company evaluated events subsequent to March 31, 2025, through May 9, 2025, and concluded that no material events occurred requiring disclosure[184](index=184&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=55&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) For Q1 2025, Columbia Financial, Inc. reported a net income of $8.9 million, a significant improvement from a net loss in Q1 2024, driven by increased net interest income and reduced credit loss provisions. Total assets grew by 1.3% to $10.6 billion, and total liabilities increased by 1.2% to $9.5 billion. Asset quality saw an increase in non-performing loans to $24.9 million (0.31% of gross loans), while net charge-offs decreased significantly. The company's critical accounting policies involve significant judgment, particularly for the allowance for credit losses, deferred tax assets, and retirement benefits [Comparison of Financial Condition](index=55&type=section&id=Comparison%20of%20Financial%20Condition) Analyzes changes in the company's financial position, highlighting a 1.3% increase in total assets to $10.6 billion and a 1.2% rise in total liabilities to $9.5 billion - Total assets increased **$132.4 million (1.3%)** to **$10.6 billion** at March 31, 2025, primarily due to increases in debt securities available for sale (**$51.4 million**) and net loans receivable (**$108.3 million**), partially offset by a **$33.1 million** decrease in cash and cash equivalents[188](index=188&type=chunk)[189](index=189&type=chunk)[190](index=190&type=chunk)[191](index=191&type=chunk) - Total liabilities increased **$112.4 million (1.2%)** to **$9.5 billion**, driven by increases in total deposits (**$98.8 million**) and borrowings (**$27.0 million**)[192](index=192&type=chunk) - Total stockholders' equity increased **$20.0 million (1.8%)** to **$1.1 billion**, mainly from net income and an increase in other comprehensive income[193](index=193&type=chunk) [Comparison of Results of Operations](index=56&type=section&id=Comparison%20of%20Results%20of%20Operations) Compares the company's operating results, showing a net income of $8.9 million for Q1 2025, a substantial improvement from a net loss in Q1 2024 - Net income for Q1 2025 was **$8.9 million**, a **$10.1 million** increase from a net loss of **$1.2 million** in Q1 2024[194](index=194&type=chunk) - Net interest income increased **$8.1 million (19.3%)** to **$50.3 million**, and the net interest margin increased **36 basis points** to **2.11%** for Q1 2025[195](index=195&type=chunk)[198](index=198&type=chunk) - Provision for credit losses decreased **$2.3 million (44.4%)** to **$2.9 million**, and non-interest expense decreased **$1.8 million (4.0%)** to **$43.8 million**[199](index=199&type=chunk)[201](index=201&type=chunk) - Non-interest income increased **$1.0 million (13.7%)** to **$8.5 million**, primarily due to the absence of securities transaction losses from the prior year and higher commercial account treasury service fees[200](index=200&type=chunk) [Asset Quality](index=57&type=section&id=Asset%20Quality) Assesses the quality of the company's assets, noting an increase in non-performing loans to $24.9 million (0.31% of gross loans) but a decrease in net charge-offs Asset Quality Metrics | Metric | March 31, 2025 | December 31, 2024 | Change | | :-------------------------------- | :------------- | :---------------- | :------- | | Non-performing loans | $24.9 million | $21.7 million | +$3.2 million | | % of total gross loans | 0.31% | 0.28% | +0.03% | | Net charge-offs (Q1) | $857,000 | $5.0 million | -$(4.143) million | | Allowance for credit losses on loans | $62.0 million | $60.0 million | +$2.0 million | | % of total gross loans | 0.78% | 0.76% | +0.02% | - The increase in non-performing loans was primarily due to a **$5.9 million** non-performing construction loan and increases in one-to-four family and commercial real estate non-performing loans, partially offset by a decrease in commercial business non-performing loans[205](index=205&type=chunk) [Additional Liquidity, Loan and Deposit Information](index=57&type=section&id=Additional%20Liquidity,%20Loan%20and%20Deposit%20Information) Provides further details on liquidity, loans, and deposits, emphasizing strong funding access and average deposit account balances - The company maintains strong liquidity with immediate access to approximately **$2.8 billion** in funding and an additional **$2.2 billion** in unpledged loan collateral[208](index=208&type=chunk)[244](index=244&type=chunk) - The average deposit account balance was approximately **$40,000** across over **207,000 accounts** at March 31, 2025[207](index=207&type=chunk) - Non-performing multifamily and commercial real estate loans totaled **$3.4 million**, or **0.04%** of total loans receivable, at March 31, 2025[209](index=209&type=chunk) [Critical Accounting Policies](index=58&type=section&id=Critical%20Accounting%20Policies) Discusses key accounting policies requiring significant judgment, including the allowance for credit losses and deferred tax assets - Critical accounting policies include the adequacy of the allowance for credit losses (ACL), valuation of deferred tax assets, and valuation of retirement and post-retirement benefits[213](index=213&type=chunk)[214](index=214&type=chunk) - The ACL is determined using an expected loss methodology (CECL), incorporating historical experience, economic forecasts (six-quarter forecast period), and qualitative adjustments[218](index=218&type=chunk)[219](index=219&type=chunk)[220](index=220&type=chunk)[221](index=221&type=chunk) - Net deferred tax assets totaled **$8.8 million** at March 31, 2025, with no valuation allowance deemed necessary[226](index=226&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=61&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Columbia Financial, Inc. actively manages interest rate risk through its Asset/Liability Committee, aiming to limit exposure to market interest rate changes. Quantitative analysis indicates that as of March 31, 2025, a 200 basis point increase in rates would decrease net interest income by 4.23% over one year, while a 200 basis point decrease would increase it by 3.63%. The company maintains strong liquidity, with immediate access to approximately $2.8 billion in funding and $2.2 billion in unpledged loan collateral, and both the company and Columbia Bank exceeded all regulatory capital adequacy requirements, maintaining 'well capitalized' status [Qualitative Analysis](index=61&type=section&id=Qualitative%20Analysis) Discusses the company's approach to managing interest rate risk, focusing on the Asset/Liability Committee's role and funding strategy - Interest rate risk is defined as the exposure of current and future earnings and capital to movements in market interest rates[229](index=229&type=chunk) - The Asset/Liability Committee regularly reviews the impact of interest rate changes on net interest income, net interest margin, net income, and the economic value of equity[230](index=230&type=chunk) - The company's strategy for liabilities focuses on maintaining a stable funding base by emphasizing core deposit accounts[231](index=231&type=chunk) [Quantitative Analysis](index=61&type=section&id=Quantitative%20Analysis) Presents numerical analysis of interest rate sensitivity, showing the impact of rate changes on net interest income and net portfolio value Interest Rate Sensitivity (as of March 31, 2025, 12-month horizon) | Change in Interest Rates (Basis Points) | Net Interest Income % Change | Net Portfolio Value % Change | | :-------------------------------------- | :--------------------------- | :--------------------------- | | +400 | (9.44)% | (35.61)% | | +300 | (6.76)% | (26.14)% | | +200 | (4.23)% | (16.93)% | | +100 | (1.96)% | (8.04)% | | Base | — | — | | -100 | 1.71% | 7.36% | | -200 | 3.63% | 13.20% | | -300 | 5.29% | 16.84% | | -400 | 2.50% | 12.87% | - All interest rate risk results, including net interest income and economic value at risk, are within the company's policy guidelines[239](index=239&type=chunk) [Liquidity Management and Capital Resources](index=62&type=section&id=Liquidity%20Management%20and%20Capital%20Resources) Details the company's liquidity position and capital adequacy, highlighting strong funding access and 'well capitalized' status for both the company and Columbia Bank - The company had immediate access to approximately **$2.8 billion** of funding and additional unpledged loan collateral of approximately **$2.2 billion** at March 31, 2025[208](index=208&type=chunk)[244](index=244&type=chunk) - Both Columbia Financial, Inc. and Columbia Bank exceeded all regulatory capital adequacy requirements at March 31, 2025, and December 31, 2024, maintaining **'well capitalized'** status[246](index=246&type=chunk) Columbia Financial, Inc. Capital Ratios (March 31, 2025) | Capital Ratio | Actual Ratio | Minimum Adequacy | Well Capitalized | | :-------------------------------- | :----------- | :--------------- | :--------------- | | Total capital to risk-weighted assets | 14.12% | 8.00% | 10.50% | | Tier 1 capital to risk-weighted assets | 13.30% | 6.00% | 8.50% | | Common equity tier 1 capital to risk-weighted assets | 13.21% | 4.50% | 7.00% | | Tier 1 capital to adjusted total assets | 10.29% | 4.00% | 4.00% | Columbia Bank Capital Ratios (March 31, 2025) | Capital Ratio | Actual Ratio | Minimum Adequacy | Well Capitalized | | :-------------------------------- | :----------- | :--------------- | :--------------- | | Total capital to risk-weighted assets | 14.37% | 8.00% | 10.00% | | Tier 1 capital to risk-weighted assets | 13.51% | 6.00% | 8.00% | | Common equity tier 1 capital to risk-weighted assets | 13.51% | 4.50% | 6.50% | | Tier 1 capital to adjusted total assets | 9.88% | 4.00% | 5.00% | [Item 4. Controls and Procedures](index=65&type=section&id=Item%204.%20Controls%20and%20Procedures) As of March 31, 2025, Columbia Financial, Inc.'s management, including the Chief Executive Officer and Chief Financial Officer, concluded that its disclosure controls and procedures were effective. No material changes in internal control over financial reporting occurred during the quarter - The company's disclosure controls and procedures were **effective** as of March 31, 2025[250](index=250&type=chunk) - There were no material changes in the company's internal control over financial reporting during the quarter ended March 31, 2025[251](index=251&type=chunk) [PART II. Other Information](index=66&type=section&id=PART%20II.%20Other%20Information) This section covers legal proceedings, risk factors, equity sales, and other disclosures for Columbia Financial, Inc [Item 1. Legal Proceedings](index=66&type=section&id=Item%201.%20Legal%20Proceedings) Columbia Financial, Inc. is involved in various legal actions and claims arising in the normal course of business, which management does not expect to have a material adverse impact on the company's financial condition - The company is involved in various legal actions and claims arising in the normal course of business[254](index=254&type=chunk) - Management believes these legal actions and claims are not expected to have a material adverse impact on the company's financial condition[254](index=254&type=chunk) [Item 1A. Risk Factors](index=66&type=section&id=Item%201A.%20Risk%20Factors) As of March 31, 2025, Columbia Financial, Inc.'s risk factors have not materially changed from those previously disclosed in its Annual Report on Form 10-K for the year ended December 31, 2024 - The company's risk factors have not materially changed from those disclosed in its Annual Report on Form 10-K for the year ended December 31, 2024[255](index=255&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=66&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2025, Columbia Financial, Inc. repurchased 37,541 shares of common stock at an average price of $14.92 per share. These repurchases were primarily for taxes related to the 2019 Equity Incentive Plan and forfeitures, and not part of any outstanding public repurchase programs Common Stock Repurchases (Q1 2025) | Period | Total Number of Shares Purchased | Average Price Paid per Share | | :-------------------- | :----------------------------- | :--------------------------- | | January 1 - 31, 2025 | 28,423 | $14.80 | | February 1 - 28, 2025 | 633 | $14.76 | | March 1 - 31, 2025 | 8,485 | $15.32 | | Total | 37,541 | $14.92 | - Repurchases were for taxes related to the 2019 Equity Incentive Plan (**8,485 shares**) and forfeitures (**29,056 shares**), and not as part of a public share repurchase program[257](index=257&type=chunk) [Item 3. Defaults Upon Senior Securities](index=66&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This item is not applicable to Columbia Financial, Inc. for the reported period - Not Applicable[258](index=258&type=chunk) [Item 4. Mine Safety Disclosures](index=66&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to Columbia Financial, Inc. for the reported period - Not Applicable[259](index=259&type=chunk) [Item 5. Other Information](index=66&type=section&id=Item%205.%20Other%20Information) During the fiscal quarter ended March 31, 2025, none of Columbia Financial, Inc.'s directors or officers adopted or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement - No directors or officers adopted or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during Q1 2025[260](index=260&type=chunk) [Item 6. Exhibits](index=66&type=section&id=Item%206.%20Exhibits) The exhibits section lists various certifications, including those from the CEO and CFO, and details the inclusion of Inline XBRL documents for the financial statements and related taxonomies - The exhibits include certifications from the Chief Executive Officer and Chief Financial Officer pursuant to the Sarbanes-Oxley Act of 2002[263](index=263&type=chunk) - Inline XBRL documents for the Consolidated Statements of Financial Condition, Income (Loss), Comprehensive Income (Loss), Changes in Stockholder's Equity, Cash Flows, and Notes to the Consolidated Financial Statements are included[263](index=263&type=chunk) [SIGNATURES](index=68&type=section&id=SIGNATURES) The quarterly report was officially signed on May 9, 2025, by Thomas J. Kemly, President and Chief Executive Officer, and Dennis E. Gibney, Senior Executive Vice President and Chief Financial Officer - The quarterly report was signed on May 9, 2025, by Thomas J. Kemly (President and Chief Executive Officer) and Dennis E. Gibney (Senior Executive Vice President and Chief Financial Officer)[266](index=266&type=chunk)

Core Insights - Columbia Financial (CLBK) reported revenue of $58.8 million for the quarter ended March 2025, reflecting an 18.4% increase year-over-year [1] - Earnings per share (EPS) for the quarter was $0.09, up from $0.01 in the same quarter last year [1] - The reported revenue was slightly below the Zacks Consensus Estimate of $58.95 million, resulting in a surprise of -0.26% [1] - The company met the consensus EPS estimate of $0.09, indicating no surprise in EPS [1] Financial Performance Metrics - Net Interest Margin stood at 2.1%, matching the average estimate from two analysts [4] - Average Interest Earning Assets were reported at $9.69 billion, slightly below the average estimate of $9.81 billion [4] - Efficiency Ratio was 74.6%, better than the estimated 75.7% by two analysts [4] - Total Non-Interest Income was $8.47 million, below the estimated $8.76 million [4] - Net Interest Income reached $50.33 million, exceeding the average estimate of $49.95 million [4] Stock Performance - Columbia Financial's shares have returned -5.6% over the past month, compared to a -0.2% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

分组1 - Columbia Financial reported quarterly earnings of $0.09 per share, matching the Zacks Consensus Estimate, and showing an increase from $0.01 per share a year ago [1] - The company posted revenues of $58.8 million for the quarter ended March 2025, which was 0.26% below the Zacks Consensus Estimate, but up from $49.65 million year-over-year [2] - Over the last four quarters, Columbia Financial has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2][3] 分组2 - Columbia Financial shares have declined approximately 12% since the beginning of the year, compared to a 5.5% decline in the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is $0.10 on revenues of $61.75 million, and for the current fiscal year, it is $0.43 on revenues of $250.1 million [7] - The Zacks Industry Rank for Financial - Miscellaneous Services is in the top 35% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]