umbia Financial(US:CLBK) Globenewswireยท2025-10-20 20:30Core 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]