Core Viewpoint - Columbia Bank and Northfield have entered into a merger agreement valued at approximately $597 million, which will create the third largest regional bank headquartered in New Jersey with pro forma total assets of around $18 billion and over 100 branches [1][2] Group 1: Merger Details - The merger will result in Northfield Bank merging into Columbia Bank, with Columbia Bank being the surviving entity [1] - The merger is valued at approximately $597 million, equivalent to 0.86 times Northfield's tangible book value [2] - The transaction is expected to be completed early in the third quarter of 2026, pending regulatory and shareholder approvals [2] Group 2: Market Position - The combined organization will have a footprint extending to 14 counties in New Jersey, as well as Brooklyn and Staten Island [1] - Columbia Bank will hold the number one deposit share for community banks in the Brooklyn and Staten Island markets post-merger [1]

Core Viewpoint - Columbia Financial, Inc. has announced the promotion of Dennis E. Gibney to First Senior Executive Vice President and Chief Banking Officer, while Thomas Splaine, Jr. has been appointed as Executive Vice President and Chief Financial Officer [1][5]. Group 1: Leadership Changes - Dennis E. Gibney has been promoted to First Senior Executive Vice President and Chief Banking Officer, effective immediately [1]. - Thomas Splaine, Jr. has been appointed as Executive Vice President and Chief Financial Officer, also effective immediately [1][5]. Group 2: Responsibilities and Experience - In his new role, Mr. Gibney will oversee finance, credit, special assets, legal, commercial banking, consumer banking, and technology functions [2]. - Mr. Gibney joined the Company in 2014 and has played a significant role in its growth, including expanding the asset base from $5 billion to over $10 billion and completing four acquisitions in five years [3][4]. - Mr. Splaine has over 35 years of experience in banking and finance, previously serving as Executive Vice President and Chief Financial Officer at Lakeland Bancorp, Inc. [4]. Group 3: Company Overview - Columbia Financial, Inc. is a Delaware corporation and the mid-tier holding company for Columbia Bank, which operates 71 full-service banking offices [5].

Core Insights - Broadway Financial Corporation has appointed Justin Jennings as Executive Vice President and Chief Deposit Officer, focusing on treasury management, banking operations, digital banking, and deposit strategy [1][4]. Company Overview - City First Bank, a subsidiary of Broadway Financial Corporation, is dedicated to uplifting underinvested communities through mission-driven initiatives and offers various commercial loan products and services [5]. Leadership Experience - Justin Jennings previously served as Executive Vice President, Operations Officer at Columbia Bank, where he enhanced deposit operations and client engagement [2][3]. - Jennings has a significant background at JPMorgan Chase & Co., where he held multiple leadership roles, including Executive Director, Head of Treasury Services for Community Development Banking [3]. Strategic Goals - Jennings will play a crucial role in advancing City First Bank's strategic objectives, particularly in deposit growth, treasury management optimization, digital banking enhancement, and overall client experience improvement [4].

Core Insights - Columbia Bank has appointed Ivan Seda as Executive Vice President and Deputy Chief Financial Officer, effective August 25, 2025, to enhance its financial performance and strategic initiatives [1][2]. Group 1: Leadership Appointment - Ivan Seda brings extensive experience in financial management, having previously served as CFO at Union Bank and Deputy CFO at BECU, where he oversaw key financial initiatives [2][3]. - Seda holds a Master's in Accounting and a Bachelor's in Business Administration from the University of Washington and is a Chartered Financial Analyst [3]. Group 2: Company Overview - Columbia Bank is the largest bank headquartered in the Northwest with over $50 billion in assets, offering a full suite of services including retail and commercial banking, SBA lending, and wealth management [4]. - The bank operates in multiple states including Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah, and Washington, combining national bank resources with personalized service [4].

Core Viewpoint - Columbia Financial, Inc. reported a net income of $8.9 million for Q1 2025, a significant recovery from a net loss of $1.2 million in Q1 2024, driven by increased net interest income and reduced expenses [1][3][10]. Financial Performance - Net income for Q1 2025 was $8.9 million, an increase of $10.1 million compared to a net loss of $1.2 million in Q1 2024 [3]. - Net interest income rose to $50.3 million, up $8.1 million or 19.3% from $42.2 million in Q1 2024, primarily due to increased interest income and decreased interest expense [4][7]. - The provision for credit losses decreased by $2.3 million to $2.9 million in Q1 2025, reflecting lower net charge-offs [9][20]. Balance Sheet Highlights - Total assets increased by $132.4 million, or 1.3%, to $10.6 billion as of March 31, 2025, driven by increases in debt securities and loans receivable [13]. - Loans receivable, net, rose by $108.3 million, or 1.4%, to $8.0 billion, with notable growth in multifamily and commercial real estate loans [16]. - Total liabilities increased by $112.4 million, or 1.2%, to $9.5 billion, primarily due to a rise in total deposits [17]. Asset Quality - Non-performing loans totaled $24.9 million, or 0.31% of total gross loans, an increase from $21.7 million, or 0.28%, at the end of 2024 [19][43]. - The allowance for credit losses on loans was $62.0 million, or 0.78% of total gross loans, reflecting an increase from $60.0 million at the end of 2024 [20][43]. Operational Efficiency - Non-interest expense decreased by $1.8 million, or 4.0%, to $43.8 million, mainly due to reduced professional fees and federal deposit insurance premiums [11]. - The net interest margin improved by 36 basis points to 2.11% compared to 1.75% in Q1 2024, attributed to higher yields on interest-earning assets and lower costs of interest-bearing liabilities [7][8]. Deposits and Liquidity - Total deposits increased by $98.8 million, or 1.2%, to $8.2 billion, with growth in non-interest-bearing demand deposits and money market accounts [17][21]. - The company maintained strong liquidity with immediate access to approximately $2.8 billion of funding as of March 31, 2025 [21].