Columbia Financial (CLBK) Q3 2026 earnings summary

Executive summary

• Q3 2026 net income was $5.2M, or $0.02/share, vs. $14.9M; core net income was $40.6M, or $0.16/share, vs. $15.4M.

• Second-step conversion and the July 20 Northfield acquisition materially reshaped results and the balance sheet; transactions also repositioned securities and reduced selected credit exposures.

Financial highlights

• Q3 net interest income rose 99.3% YoY to $114.4M; net interest margin was 2.96%, up 67 bps YoY and 52 bps QoQ.

• Q3 non-interest loss was $13.9M, including a $40.8M securities loss and $7.6M loss on loan transfers; non-interest expense rose to $97.5M, including $30.6M merger costs.

• 9M net income was $32.8M, down 9.0% YoY; core net income was $70.6M vs. $37.1M. 9M net interest income increased 47.3% to $237.7M.

• Total assets reached $17.6B at Sept. 30, up $5.4B QoQ, primarily from Northfield and the stock offering; gross loans rose 37.2% and deposits 32.2% QoQ.

• Board declared a $0.05/share quarterly cash dividend, payable Nov. 25, 2026, to holders of record Nov. 10.

Outlook and guidance

• Core system conversion following the Northfield acquisition is planned for Q1 2027.

• Reinvestment of securities-sale proceeds is expected to generate ~$9.3M in additional interest income over the next 12 months; management cited growth through commercial bankers and relationship banking.