Core Points - Columbia Financial, Inc. reported a net loss of 21.2millionforQ42024,asignificantdeclinefromanetincomeof6.6 million in Q4 2023, primarily due to lower non-interest income and a balance sheet repositioning transaction [1][3] - For the full year 2024, the company recorded a net loss of 11.7millioncomparedtoanetincomeof36.1 million in 2023, driven by decreased net interest income and increased provisions for credit losses [1][13] Financial Performance - The net interest income for Q4 2024 was 46.4million,aslightincreaseof2.445.3 million in Q4 2023, attributed to a rise in interest income despite higher interest expenses [4][8] - The provision for credit losses increased to 2.9millioninQ42024from1.2 million in Q4 2023, reflecting higher net charge-offs and qualitative factors affecting loan performance [9][32] - Non-interest income for Q4 2024 was (23.7)million,adecreaseof310.811.2 million in Q4 2023, mainly due to a 34.6millionlossonsecuritiestransactions[10]BalanceSheetHighlights−Totalassetsdecreasedby170.1 million, or 1.6%, to 10.5billionasofDecember31,2024,primarilyduetoareductionincashandcashequivalentsanddebtsecuritiesavailableforsale[23][24]−Loansreceivableincreasedby37.5 million, or 0.5%, to 7.9billion,withnotablegrowthinmultifamily,construction,andcommercialbusinessloans[26]−Totalliabilitiesdecreasedby210.1 million, or 2.2%, to 9.4billion,drivenbyasignificantreductioninborrowings[29]CapitalandEquity−Totalstockholders′equityincreasedby40.0 million, or 3.8%, to 1.1billion,supportedbystock−basedcompensationandcomprehensiveincome,despitethenetloss[30]−Thecompanymaintainedastrongcapitalposition,withnooutstandingborrowingsfromtheFederalReserveDiscountWindowasofDecember31,2024[34]AssetQuality−Non−performingloansroseto21.7 million, or 0.28% of total gross loans, compared to 12.6million,or0.1660.0 million, or 0.76% of total gross loans, reflecting higher net charge-offs and qualitative factors [33]
