Columbia Financial (CLBK) Q3 2025 earnings summary

Executive summary

• Net income for Q3 2025 was $14.9 million ($0.15/share), up from $6.2 million ($0.06/share) in Q3 2024, driven by higher net interest income, lower provision for credit losses, and higher non-interest income, partially offset by increased non-interest and tax expenses.

• For the nine months ended September 30, 2025, net income was $36.1 million ($0.35/share), up 276.9% year-over-year, reflecting improved net interest income, lower credit loss provisions, and higher non-interest income.

• Total assets increased 3.6% to $10.9 billion at September 30, 2025, driven by higher loans and securities balances.

• Net interest income rose 26.7% year-over-year for the quarter and 22.7% for the nine months, reflecting higher loan balances and yields.

• Non-interest income increased 9.9% for the quarter and 11.3% for the nine months, led by higher deposit fees, loan fees, and securities gains.

Financial highlights

• Loans receivable, net, increased $349.9 million (4.5%) since year-end, with growth in multifamily, commercial real estate, and commercial business loans.

• Net interest margin for Q3 2025 was 2.29%, up 45 bps year-over-year and 10 bps sequentially.

• Provision for credit losses decreased 42.9% for the quarter and 33.1% for the nine months, reflecting lower net charge-offs.

• Non-interest expense for Q3 2025 increased 5.3% year-over-year to $45.1 million; for the nine months, it decreased 0.7% to $133.8 million.

• Non-performing loans increased to $32.5 million (0.40% of loans) from $21.7 million (0.28%) at year-end.

Outlook and guidance

• Management expects continued net interest margin expansion, strong loan demand, and a shift toward commercially oriented segments.

• Asset quality is expected to remain strong, with a focus on core customer relationships and local economic strength.

• Interest rate risk and credit quality remain key areas of monitoring, with stress testing and scenario analysis in place.