Columbia Financial (CLBK) investor relations material

Executive summary

• Net income for Q1 2026 was $13.1 million ($0.13 per share), up from $8.9 million ($0.09 per share) in Q1 2025, driven by higher net interest income and lower provision for credit losses, partially offset by lower non-interest income and higher expenses and taxes.

• Total assets remained stable at $11.0 billion, with a slight decrease of $8.3 million from year-end 2025.

• Announced a second-step conversion and a significant merger with Northfield Bancorp, aiming to expand into new markets and strengthen the deposit base, with integration planning underway and pending regulatory and shareholder approvals.

Financial highlights

• Net interest income rose 20% year-over-year to $60.4 million, reflecting higher loan balances and yields, and lower deposit costs.

• Net interest margin improved to 2.42% from 2.11% year-over-year and 2.36% sequentially.

• Provision for credit losses decreased to $1.0 million from $2.9 million year-over-year, with net recoveries of $604,000 versus net charge-offs of $857,000 a year ago.

• Non-interest income fell 20.4% to $6.7 million, mainly due to lower equity securities valuations and swap income.

• Non-interest expense increased 8.3% to $47.5 million, driven by higher compensation and merger-related costs.

Outlook and guidance

• Management expects the merger and conversion to provide capital for future growth and entry into new markets, subject to regulatory and shareholder approvals.

• Interest rate risk, economic conditions, and integration challenges remain key variables for future performance.