umbia Financial(US:CLBK)2025-08-08 20:02Financial 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].