Columbia Financial (CLBK) East Coast Financial Services Conference 2024 Presentation summary

Financial highlights and performance

• Total assets reached $10.7 billion, with total deposits at $8.0 billion and net loans receivable at $7.8 billion as of September 30, 2024.

• Year-to-date net income was $9.6 million, with financial results lower than anticipated due to higher funding costs and commercial charge-offs.

• Net interest margin stabilized and increased, while non-performing assets remained low at 0.28% of total assets.

• Core return on average assets was 0.15% and core return on average tangible equity was 1.71% for the period.

• Core efficiency ratio increased to 84.26% as of September 30, 2024.

Capital management and liquidity

• Capital ratios remain strong, with a Common Tier 1 risk-based capital ratio of 13.50% and tangible common equity/tangible assets at 10.8%.

• Share repurchases have been paused to retain capital, and no cash dividends are expected while in the MHC structure.

• Immediate access to $2.6 billion in funding and $283.5 million in cash and equivalents, with over $1.8 billion in unpledged collateral.

Loan portfolio and lending strategy

• Net loans receivable grew 26.7% since 2020, with residential real estate de-emphasized and commercial/multifamily lending prioritized.

• Commercial real estate loans represent 43.9% of the portfolio, with a focus on NJ, PA, and NY suburbs.

• Multifamily portfolio has minimal exposure to NYC rent-stabilized properties.