Track market-moving stories before they get noisy

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.

While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.

Below, we take a look at Columbia Financial (CLBK - Free Report) , a company that currently holds a Momentum Style Score of A. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.

It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Columbia Financial currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.

You can see the current list of Zacks #1 Rank Stocks here >>>

Set to Beat the Market? In order to see if CLBK is a promising momentum pick, let's examine some Momentum Style elements to see if this company holds up.

Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.

For CLBK, shares are up 8.76% over the past week while the Zacks Financial - Miscellaneous Services industry is flat over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 10.75% compares favorably with the industry's 0.49% performance as well.

Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Over the past quarter, shares of Columbia Financial have risen 27.4%, and are up 78.39% in the last year. In comparison, the S&P 500 has only moved 4.05% and 21.62%, respectively.

Investors should also take note of CLBK's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now CLBK is averaging 9,884,082 shares for the last 20 days..

Earnings OutlookThe Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with CLBK.

Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. This revision helped boost CLBK's consensus estimate, increasing from $0.34 to $0.48 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period.

Bottom LineGiven these factors, it shouldn't be surprising that CLBK is a #2 (Buy) stock and boasts a Momentum Score of A. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Columbia Financial on your short list.

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Five dividends are about to close their payout windows. Arrow Financial (NASDAQ:AROW), Cheesecake Factory (NASDAQ:CAKE), PC Connection (NASDAQ:CNXN), and Willis Lease Finance (NASDAQ:WLFC) all go ex-dividend on August 11, 2026, while Columbia Financial (NASDAQ:CLBK) reaches its cutoff one day later, on August 12. To collect these payments, investors must purchase the shares no later than August 10 for the first four companies and August 11 for Columbia Financial.

A quick mechanics refresher: If you own the shares at the close of trading on the business day before the ex-dividend date, you receive the upcoming payment. Buy on or after the ex-date, and the seller keeps it. The payment date is simply when the cash hits your account, which happens later in the month.

Arrow Financial (AROW) Arrow, a regional bank based in Glens Falls, New York, will pay $0.30 per share on August 25. At $1.20 annualized, the dividend yields roughly 2.96%. The ex-date is August 11, making August 10 the last day to buy shares and collect this payment.

Coverage looks comfortable. Arrow Financial’s Q2 2026 GAAP EPS was $0.66, while Q1 EPS was $0.82 and full-year 2025 EPS reached $2.65, putting the payout ratio at roughly 37% to 46% based on recent earnings. The Q2 miss was driven by a $1.60 million specific reserve tied to a single nonperforming Albany commercial loan, not wider deterioration across the portfolio. The Adirondack Bancorp acquisition closed July 1, 2026, bringing approximately $1 billion in additional assets.

Cheesecake Factory (CAKE) Cheesecake Factory pays $0.30 per share on August 25, with an ex-date of August 11. That puts the forward annualized dividend at $1.20 and the yield at roughly 1.08%. Management raised the quarterly payout from $0.27 to $0.30 beginning in 2026.

The dividend is comfortably covered. Trailing adjusted EPS stands at $3.69, while Cheesecake Factory brand comparable sales rose 5.8% year over year in Q2. The tradeoff is valuation. The stock has run hard, gaining 40.1% in the past month and 113.4% year to date, so the dividend yield is modest while a trailing P/E near 29 leaves little room for disappointment.

PC Connection (CNXN) PC Connection, an IT solutions distributor, will pay $0.20 per share on August 28. That works out to a forward annualized dividend of $0.80 and a yield just under 1%. The ex-date is August 11.

Coverage is ample. Q2 EPS was $1.31 against a $0.20 quarterly payout, and the dividend has climbed from $0.08 in 2023 to $0.20 in 2026. AI infrastructure demand helped lift revenue across both Enterprise Solutions and Business Solutions during the quarter. One caveat is cash generation. Q2 operating cash flow swung to negative $63.8 million amid working-capital swings, so investors should watch how effectively earnings convert into cash during the second half of 2026.

Willis Lease Finance (WLFC) Willis Lease Finance, an aircraft engine lessor, will pay $0.133 per share on August 21, with an ex-date of August 11. The payment may appear smaller than the previous three quarterly dividends of $0.40, but the difference reflects the company’s 3-for-1 stock split. On a split-adjusted basis, the economics are essentially the same. The indicated forward yield is only about 0.6%.

EPS coverage remains strong. Willis Lease’s Q2 2026 diluted EPS was $1.31, beating the $0.90 consensus estimate, while Willis Aviation Capital’s assets under management reached $4.4 billion. Shares are down 18.46% over the past month, which has mechanically lifted the yield somewhat. Even after that decline, however, the payout remains small relative to the share price, making the dividend a supplement to the investment case, not its centerpiece.

Columbia Financial (CLBK) Columbia (Nasdaq: CLBK) is the outlier because it is kicking off its first quarterly dividend. Its ex-date is August 12, 2026, with a payment of $0.05 per share on August 26. If the quarterly payment continues, it implies an annualized dividend of $0.20. The declaration followed the July 20 completion of Columbia’s second-step conversion and acquisition of Northfield Bancorp, although the company did not explicitly attribute the dividend to those transactions.

Coverage appears manageable. Q2 2026 GAAP EPS was $0.14, with core EPS of $0.15, while net interest margin expanded to 2.44%. That puts the inaugural $0.05 payout at roughly 36% of GAAP earnings. Treat the forward yield with care because Columbia has not yet established a dividend track record. Credit quality also bears watching, with nonperforming loans rising to 0.51% of gross loans from 0.46% at year-end 2025.

The Bottom Line Chasing one dividend is not a portfolio strategy, and the total return math after the ex-date drop rarely favors buying purely for the payment. If any of these businesses already fit your process, the calendar simply tells you when to be in the seat. Miss August 10, or August 11 for CLBK, and the next check has to wait for a future declaration that may or may not come.

Contact [email protected] for any questions or corrections.

FAIR LAWN, N.J., July 30, 2026 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the holding company for Columbia Bank ("Columbia"), reported net income of $14.5 million, or $0.14 per basic and diluted share, for the quarter ended June 30, 2026, as compared to $12.3 million, or $0.12 per basic and diluted share, for the quarter ended June 30, 2025. Earnings for the quarter ended June 30, 2026 reflected higher net interest income due to both an increase in interest income and a decrease in interest expense, and an increase in non-interest income, partially offset by an increase in provision for credit losses, an increase in non-interest expense and higher income tax expense. For the quarter ended June 30, 2026, the Company reported core net income of $15.1 million, or $0.15 per basic and diluted share.

For the six months ended June 30, 2026, the Company reported net income of $27.6 million, or $0.27 per basic and diluted share, as compared to $21.2 million, or $0.21 per basic and diluted share, for the six months ended June 30, 2025. Earnings for the six months ended June 30, 2026 reflected higher net interest income due to both an increase in interest income and a decrease in interest expense, partially offset by a decrease in non-interest income, an increase in non-interest expense and higher income tax expense.

Mr. Thomas J. Kemly, President and Chief Executive Officer commented: “Second quarter financial results reflected an increase in core net income, attributable to net interest margin expansion, partially offset by merger related costs and a higher income tax rate. The balance sheet experienced growth compared to the prior quarter, driven by depositor stock subscriptions in the Company's second-step conversion offering, coupled with solid commercial loan production."

Financial Highlights

Net income increased by $2.2 million, or 17.7%, for the quarter ended June 30, 2026 compared to the quarter ended June 30, 2025 and increased $1.4 million for the quarter ended June 30, 2026 compared to the quarter ended March 31, 2026.Net interest margin of 2.44% for the quarter ended June 30, 2026 increased by 25 basis points compared to 2.19% for the quarter ended June 30, 2025 and increased 8 basis points compared to 2.36% for the quarter ended December 31, 2025.Commercial loan segments increased $260.6 million during the three months ended June 30, 2026, compared to March 31, 2026, which included $78.8 million of commercial business loans.On July 30, 2026, the Company announced that its Board of Directors has declared a quarterly cash dividend of $0.05 per share to be paid on August 26, 2026, to stockholders of record as of August 12, 2026. As previously disclosed, on July 20, 2026, the Company completed its second-step conversion offering and simultaneous acquisition of Northfield Bancorp, Inc. As a result, the Company’s financial condition and results of operations as of June 30, 2026 do not reflect the acquisition of Northfield Bancorp, Inc. The Company's June 30, 2026 financial results reflect a portion of the stock subscriptions which are included in total deposits.

Mr. Kemly further remarked, “The second quarter represented a period of considerable strategic activity for Columbia leading up to the completion of our second-step conversion and acquisition of Northfield Bancorp, Inc. during the third quarter. In July 2026, the Company completed its second-step conversion offering raising gross proceeds of $1.7 billion and completed the merger with Northfield Bancorp, Inc. adding approximately $5.8 billion in total assets. These transactions are anticipated to affect a meaningful transformation of the Company through the introduction of new geographic markets within the New York metropolitan area, the expansion of a lower-cost deposit base, and the provision of substantial capital to support the future growth of our franchise."

Impact of Second-Step Conversion Offering and Northfield Bancorp Acquisition

Subsequent to the merger, on a proforma basis as of March 31, 2026, the Company had $18.0 billion of total assets, $12.5 billion in total deposits and $11.9 billion in total loans.Over 100 branch offices throughout the State of New Jersey, Staten Island and Brooklyn, New York. Results of Operations for the Three Months Ended June 30, 2026 and June 30, 2025

Net income of $14.5 million was recorded for the quarter ended June 30, 2026, an increase of $2.2 million compared to net income of $12.3 million for the quarter ended June 30, 2025. The increase in net income was primarily attributable to a $9.2 million increase in net interest income and a $657,000 increase in non-interest income, partially offset by a $1.8 million increase in provision for credit losses, $4.5 million increase in non-interest expense, and a $1.3 million increase in income tax expense.

Net interest income was $62.9 million for the quarter ended June 30, 2026, an increase of $9.2 million, or 17.2%, from $53.7 million for the quarter ended June 30, 2025. The increase in net interest income was primarily attributable to a $5.8 million increase in interest income and a $3.5 million decrease in interest expense on deposits and borrowings. The increase in interest income was primarily due to an increase in the average balance of total interest-earning assets coupled with an increase in average yields on loans, while the decrease in interest expense was primarily due to a decrease in yields on both deposits and borrowings. Prepayment penalties, which are included in interest income on loans, totaled $463,000 for the quarter ended June 30, 2026, compared to $615,000 for the quarter ended June 30, 2025.

The average yield on loans for the quarter ended June 30, 2026 increased 5 basis points to 5.01%, as compared to 4.96% for the quarter ended June 30, 2025. Interest income on loans increased due to an increase in both the average balance and yield on loans. The average yield on securities for the quarter ended June 30, 2026 decreased 5 basis points to 3.50%, as compared to 3.55% for the quarter ended June 30, 2025. The average yield on other interest-earning assets for the quarter ended June 30, 2026 decreased 83 basis points to 4.33%, as compared to 5.16% for the quarter ended June 30, 2025, mainly due to a 50 basis point decrease in the dividend rate received on Federal Home Loan Bank stock.

Total interest expense was $59.3 million for the quarter ended June 30, 2026, a decrease of $3.5 million, or 5.5%, from $62.8 million for the quarter ended June 30, 2025. The decrease in interest expense was primarily attributable to a 27 basis point decrease in the average cost of interest-bearing deposits coupled with a 34 basis point decrease in the average cost of borrowings, partially offset by increases in the average balance of interest-bearing deposits and borrowings. Interest expense on deposits decreased $3.2 million, or 6.5%, due to a slight decrease in the average cost of all deposit types, and to a lesser extent, the lower costing deposits held during the subscription phase of the Company's second-step conversion offering during the quarter ended June 30, 2026. Interest expense on borrowings decreased $246,000, or 1.8%, for the quarter ended June 30, 2026 as compared to the quarter ended June 30, 2025.

The Company's net interest margin for the quarter ended June 30, 2026 increased 25 basis points to 2.44% when compared to 2.19%, for the quarter ended June 30, 2025, mostly due to a decrease in the average cost of interest-bearing liabilities. The weighted average yield on interest-earning assets decreased 1 basis point to 4.74% for the quarter ended June 30, 2026 as compared to 4.75% for the quarter ended June 30, 2025. The average cost of interest-bearing liabilities decreased 28 basis points to 2.90% for the quarter ended June 30, 2026 as compared to 3.18% for the quarter ended June 30, 2025.

The provision for credit losses for the quarter ended June 30, 2026 was $4.3 million, an increase of $1.8 million, or 74.7%, from $2.5 million for the quarter ended June 30, 2025. The increase in the provision for credit losses was primarily attributable to an increase of $234.5 million in total gross loans.

Non-interest income was $10.8 million for the quarter ended June 30, 2026, an increase of $657,000, or 6.5%, from $10.2 million for the quarter ended June 30, 2025 mainly due to a $610,000 bank-owned life insurance death benefit in June 2026, and income related to the transition and exchange into higher yielding bank-owned life insurance policies.

Non-interest expense was $49.4 million for the quarter ended June 30, 2026, an increase of $4.5 million, or 10.0%, from $44.9 million for the quarter ended June 30, 2025. The increase was primarily attributable to an increase in compensation and employee benefits expense of $3.0 million, an increase in data processing and software expenses of $863,000, and an increase in merger-related expenses of $819,000, partially offset by a decrease of $1.3 million in professional fees. The increase in compensation and employee benefits expense was due to an increase in the number of employees and normal merit increases.

Income tax expense was $5.5 million for the quarter ended June 30, 2026, an increase of $1.3 million, as compared to income tax expense of $4.2 million for the quarter ended June 30, 2025, mainly due to higher pre-tax income. The Company's effective tax rate was 27.6% and 25.4% for the quarters ended June 30, 2026 and 2025, respectively. The increase in the 2026 effective tax rate was due to non-deductible merger-related expenses.

Results of Operations for the Six Months Ended June 30, 2026 and June 30, 2025

Net income of $27.6 million was recorded for the six months ended June 30, 2026, an increase of $6.4 million, or 30.1%, compared to net income of $21.2 million for the six months ended June 30, 2025. The increase in net income was primarily attributable to a $19.3 million increase in net interest income, partially offset by a $1.1 million decrease in non-interest income, an $8.2 million increase in non-interest expense, and a $3.8 million increase in income tax expense.

Net interest income was $123.3 million for the six months ended June 30, 2026, an increase of $19.3 million, or 18.5%, from $104.0 million for the six months ended June 30, 2025. The increase in net interest income was primarily attributable to a $12.5 million increase in interest income and a $6.8 million decrease in interest expense on deposits and borrowings. The increase in interest income was primarily due to an increase in the average balance of loans coupled with an increase in the average yield on loans. Prepayment penalties, which are included in interest income on loans, totaled $714,000 for the six months ended June 30, 2026, compared to $872,000 for the six months ended June 30, 2025.

The average yield on loans for the six months ended June 30, 2026 increased 9 basis points to 5.01%, as compared to 4.92% for the six months ended June 30, 2025. Interest income on loans increased due to an increase in both the average balance and yield on loans. The average yield on securities for the six months ended June 30, 2026 decreased 6 basis points to 3.44%, as compared to 3.50% for the six months ended June 30, 2025. The average yield on other interest-earning assets for the six months ended June 30, 2026 decreased 98 basis points to 4.49%, as compared to 5.47% for the six months ended June 30, 2025, mainly due to a lower dividend rate received on Federal Home Loan Bank stock.

Total interest expense was $117.8 million for the six months ended June 30, 2026, a decrease of $6.8 million, or 5.5%, from $124.6 million for the six months ended June 30, 2025. The decrease in interest expense was primarily attributable to a 29 basis point decrease in the average cost of interest-bearing deposits coupled with a 33 basis point decrease in the average cost of borrowings. Interest expense on deposits decreased $7.0 million, or 7.1%, for the six months ended June 30, 2026 as compared to the six months ended June 30, 2025, due to a decrease in the average cost of deposits, while interest expense on borrowings increased $230,000, or 0.9%, for the six months ended June 30, 2026 as compared to the six months ended June 30, 2025, due to the increase in the average balance of borrowings.

The Company's net interest margin for the six months ended June 30, 2026 increased 28 basis points to 2.43% when compared to 2.15% for the six months ended June 30, 2025, due to an increase in the average yield on interest-earning assets coupled with a decrease in the average cost of interest-bearing liabilities. The weighted average yield on interest-earning assets increased 3 basis points to 4.75% for the six months ended June 30, 2026 as compared to 4.72% for the six months ended June 30, 2025. The average cost of interest-bearing liabilities decreased 28 basis points to 2.91% for the six months ended June 30, 2026 as compared to 3.19% for the six months ended June 30, 2025.

The provision for credit losses for the six months ended June 30, 2026 was $5.3 million, a decrease of $133,000, or 2.5% from $5.4 million for the six months ended June 30, 2025. The decrease in the provision for credit losses was primarily attributable to a decrease in net charge-offs, which totaled $1.4 million for the six months ended June 30, 2026 as compared to $4.1 million for the six months ended June 30, 2025.

Non-interest income was $17.6 million for the six months ended June 30, 2026, a decrease of $1.1 million, or 5.7%, from $18.6 million for the six months ended June 30, 2025. The decrease was primarily attributable to a change in fair value of equity securities of $1.6 million and a decrease in other non-interest income of $627,000, mainly due to interest rate swaps, partially offset by a $1.1 million increase in bank-owned life insurance partially attributable to a death benefit claim in June 2026, and income related to the transition and exchange into higher yielding bank-owed life insurance policies.

Non-interest expense was $96.9 million for the six months ended June 30, 2026, an increase of $8.2 million, or 9.2%, from $88.8 million for the six months ended June 30, 2025. The increase was primarily attributable to an increase in compensation and employee benefits expense of $5.5 million, an increase in occupancy expense of $1.4 million, an increase in data processing and software expenses of $1.5 million and an increase in merger-related expenses of $2.6 million, partially offset by a decrease of $2.4 million in professional fees. The increase in compensation and employee benefits expense was due to normal annual increases and an increase in the number of employees.

Income tax expense was $11.1 million for the six months ended June 30, 2026, an increase of $3.8 million, as compared to income tax expense of $7.3 million for the six months ended June 30, 2025, mainly due to an increase in pre-tax income. The Company's effective tax rate was 28.7% and 25.6% for the six months ended June 30, 2026 and 2025, respectively. The increase in the 2026 effective tax rate was due to non-deductible merger-related expenses.

Balance Sheet Summary

Total assets increased $1.2 billion, or 10.5%, to $12.2 billion at June 30, 2026 from $11.0 billion at December 31, 2025. The increase in total assets was primarily attributable to increases in cash and cash equivalents of $748.8 million, debt securities available for sale of $137.5 million, loans receivable, net, of $197.7 million, and other assets of $49.3 million.

Cash and cash equivalents increased $748.8 million, or 219.7%, to $1.1 billion at June 30, 2026 from $340.8 million at December 31, 2025. The increase was primarily attributable to proceeds raised through the Company's second-step conversion offering included in deposits, principal repayments on securities of $54.8 million, calls and maturities on securities of $76.1 million, and repayments on loans receivable, partially offset by purchases of securities of $272.4 million, and the origination of loans receivable of approximately $761.0 million.

Debt securities available for sale increased $137.5 million, or 12.3%, to $1.3 billion at June 30, 2026 from $1.1 billion at December 31, 2025. The increase was attributable to purchases of securities of $252.9 million, consisting primarily of U.S. government obligations and mortgage-backed securities, partially offset by an increase in the gross unrealized loss on securities of $8.5 million, calls and maturities on securities of $61.3 million, and repayments on securities of $46.8 million.

Loans receivable, net, increased $197.7 million, or 2.4%, to $8.4 billion at June 30, 2026 from $8.2 billion at December 31, 2025. Multifamily loans, commercial real estate loans, construction loans, and commercial business loans increased $90.8 million, $60.6 million, $33.2 million, and $64.2 million, respectively, partially offset by a decrease in one-to-four family real estate loans and home equity loans and advances of $39.5 million and $7.0 million, respectively. The allowance for credit losses for loans increased $3.9 million to $71.1 million at June 30, 2026 from $67.2 million at December 31, 2025, primarily due to loan growth during the six months ended June 30, 2026.

Other assets increased $49.3 million, or 14.7%, to $385.0 million at June 30, 2026 from $335.7 million at December 31, 2025 primarily due to an increase in net pension assets of $21.3 million and an increase in commercial real estate loans in process of $16.0 million.

Total liabilities increased $1.1 billion, or 11.4%, to $11.0 billion at June 30, 2026 from $9.9 billion at December 31, 2025. The increase was primarily attributable to an increase in total deposits of $1.1 billion, due to proceeds raised through the Company's second-step conversion offering included in deposits, an increase in borrowings of $35.0 million, and an increase in accrued expenses and other liabilities of $20.7 million. The increase in total deposits primarily consisted of increases in non-interest-bearing demand deposits, interest-bearing demand deposits, savings and club accounts, and certificates of deposits of $38.4 million, $859.1 million, $13.1 million and $202.8 million, respectively, partially offset by a decrease in money market accounts of $55.5 million. The increase in interest-bearing demand deposits was mainly attributable to proceeds raised through the Company's second-step conversion offering. The increase in accrued expenses and other liabilities related to an increase in outstanding checks and an increase in collateral pledged for interest rate swaps. The $35.0 million increase in borrowings was driven by a net increase in short-term borrowings of $50.0 million, coupled with new long-term borrowings of $40.0 million, offset by repayments of $55.0 million in maturing long-term borrowings.

Total stockholders’ equity increased $35.5 million, or 3.1%, with a balance of $1.2 billion at both June 30, 2026 and December 31, 2025, primarily attributable to net income of $27.6 million.

Asset Quality

The Company's non-performing loans at June 30, 2026 totaled $43.0 million, or 0.51% of total gross loans, as compared to $38.0 million, or 0.46% of total gross loans, at December 31, 2025. The $5.0 million increase in non-performing loans was primarily attributable to an increase in non-performing one-to-four family loans of $1.0 million, and a $10.6 million commercial real estate loan on a six-story mixed use building, which includes apartments and commercial/storage space designated as non-performing during the 2026 period, partially offset by a decrease in non-performing commercial business loans of $1.1 million, and a decrease in non-performing construction loans of $5.9 million. The decrease in non-performing construction loans was due to one loan secured by a mixed use five-story building with both commercial space and apartments, being transferred to other real estate owned in March 2026. Non-performing assets as a percentage of total assets totaled 0.40% at June 30, 2026, as compared to 0.34% at December 31, 2025.

For the quarter ended June 30, 2026, net charge-offs totaled $2.0 million, as compared to net charge-offs of $3.2 million for the quarter ended June 30, 2025. For the six months ended June 30, 2026, net charge-offs totaled $1.4 million, as compared to net charge-offs of $4.1 million for the quarter ended June 30, 2025.

The Company's allowance for credit losses on loans was $71.1 million, or 0.84% of total gross loans, at June 30, 2026, compared to $67.2 million, or 0.82% of total gross loans, at December 31, 2025. The increase in the allowance for credit losses for loans was primarily due to an increase in the outstanding balance of loans.

About Columbia Financial, Inc.

The consolidated financial results include the accounts of Columbia Financial, Inc., its wholly-owned subsidiary Columbia Bank (the "Bank") and the Bank's wholly-owned subsidiaries. Columbia Financial, Inc. is a Maryland corporation organized as Columbia Bank's parent stock holding company. Columbia Bank is a federally chartered savings bank headquartered in Fair Lawn, New Jersey that operates more than 100 full-service banking offices and offers traditional financial services to consumers and businesses in its market area.

Forward Looking Statements

Certain statements herein constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as “believes,” “will,” “would,” “expects,” “projects,” “may,” “could,” “developments,” “strategic,” “launching,” “opportunities,” “anticipates,” “estimates,” “intends,” “plans,” “targets” and similar expressions. These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to, adverse conditions in the capital and debt markets and the impact of such conditions on the Company’s business activities; changes in interest rates, higher inflation and their impact on national and local economic conditions; changes in monetary and fiscal policies of the U.S. Treasury, the Board of Governors of the Federal Reserve System and other governmental entities; the impact of tariffs, sanctions and other trade policies of the United States and its global trading counterparts; the impact of changing political conditions or federal government shutdowns; the impact of legal, judicial and regulatory proceedings or investigations, competitive pressures from other financial institutions; the effects of general economic conditions on a national basis or in the local markets in which the Company operates, including changes that adversely affect a borrowers’ ability to service and repay the Company’s loans; the effect of acts of terrorism, war or pandemics, including on our credit quality and business operations, as well as its impact on general economic and financial market conditions; changes in the value of securities in the Company’s portfolio; changes in loan default and charge-off rates; fluctuations in real estate values; the adequacy of loan loss reserves; decreases in deposit levels necessitating increased borrowing to fund loans and securities; legislative changes and changes in government regulation; changes in accounting standards and practices; the risk that goodwill and intangibles recorded in the Company’s consolidated financial statements will become impaired; cyber-attacks, computer viruses and other technological risks that may breach the security of our systems and allow unauthorized access to confidential information; the inability of third party service providers to perform; demand for loans in the Company’s market area; the Company’s ability to attract and maintain deposits and effectively manage liquidity; risks related to the implementation of acquisitions, dispositions, and restructurings; and the risk that the Company may not be successful in the implementation of its business strategy, or its integration of acquired financial institutions and businesses.

In addition, with respect to the Company’s recently completed merger with Northfield Bancorp (“Northfield”), such risks, uncertainties and assumptions, include, among others, the following: (i) the possibility that the anticipated benefits of the proposed transaction, including anticipated cost savings and strategic gains, are not realized when expected or at all, including as a result of changes in, or problems arising from, general economic and market conditions, interest and exchange rates, monetary policy, laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which the combined company operates; (ii) the possibility that the integration of the two companies may be more difficult, time-consuming or costly than expected; and ((iii) the impact of purchase accounting with respect to the proposed transaction, or any change in the assumptions used regarding the assets acquired and liabilities assumed to determine their fair value and credit marks. Forward-looking statements are subject to numerous risks and uncertainties, including but not limited to, those set forth in Item 1A of the Company's Annual Report on Form 10-K and those set forth in the Company's Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, all as filed with the Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website, www.sec.gov. Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, the Company's actual results could differ materially from those discussed. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company disclaims any obligation to publicly update or revise any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes, except as required by law.

Non-GAAP Financial Measures

Reported amounts are presented in accordance with U.S. generally accepted accounting principles ("GAAP"). This press release also contains certain supplemental non-GAAP information that the Company’s management uses in its analysis of the Company’s financial results. Specifically, the Company provides measures based on what it believes are its operating earnings on a consistent basis and excludes material non-routine operating items which affect the GAAP reporting of results of operations. The Company’s management believes that providing this information to analysts and investors allows them to better understand and evaluate the Company’s core financial results for the periods presented. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names.

The Company also provides measurements and ratios based on tangible stockholders' equity. These measures are commonly utilized by regulators and market analysts to evaluate a company’s financial condition and, therefore, the Company’s management believes that such information is useful to investors.

A reconciliation of GAAP to non-GAAP financial measures are included at the end of this press release. See "Reconciliation of GAAP to Non-GAAP Financial Measures".

COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES
Consolidated Statements of Financial Condition
(In thousands)
  June 30, December 31,  2026  2025Assets(Unaudited)  Cash and due from banks$1,089,479 $340,695Short-term investments 112  111Total cash and cash equivalents 1,089,591  340,806    Debt securities available for sale, at fair value 1,259,489  1,122,017Debt securities held to maturity, at amortized cost (fair value of $362,292, and $367,289 at June 30, 2026 and December 31, 2025, respectively) 393,576  396,233Equity securities, at fair value 5,820  6,802Federal Home Loan Bank and Federal Reserve Bank stock, at cost 81,849  64,604    Loans receivable 8,493,610  8,292,010Less: allowance for credit losses 71,065  67,201Loans receivable, net 8,422,545  8,224,809    Accrued interest receivable 42,372  41,490Office properties and equipment, net 82,796  82,985Bank-owned life insurance 285,184  283,094Goodwill and intangible assets 119,074  120,302Other real estate owned 5,923  —Other assets 384,986  335,651Total assets$12,173,205 $11,018,793    Liabilities and Stockholders' Equity   Liabilities:   Deposits$9,502,065 $8,444,079Borrowings 1,218,452  1,183,472Advance payments by borrowers for taxes and insurance 51,068  45,792Accrued expenses and other liabilities 205,410  184,722Total liabilities 10,976,995  9,858,065    Stockholders' equity:   Total stockholders' equity 1,196,210  1,160,728Total liabilities and stockholders' equity$12,173,205 $11,018,793     COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES
Consolidated Statements of Income
(In thousands, except per share data)
  Three Months Ended
June 30, Six Months Ended
June 30,  2026  2025   2026   2025Interest income:(Unaudited) (Unaudited)Loans receivable$103,340 $99,646  $205,492  $194,756Debt securities available for sale and equity securities 11,315  10,301   21,538   20,043Debt securities held to maturity 2,851  2,922   5,607   5,733Federal funds and interest-earning deposits 3,307  2,443   5,687   5,301Federal Home Loan Bank and Federal Reserve Bank stock dividends 1,438  1,179   2,798   2,821Total interest income 122,251  116,491   241,122   228,654Interest expense:       Deposits 46,135  49,344   92,446   99,489Borrowings 13,198  13,444   25,367   25,137Total interest expense 59,333  62,788   117,813   124,626        Net interest income 62,918  53,703   123,309   104,028        Provision for credit losses 4,312  2,468   5,268   5,401        Net interest income after provision for credit losses 58,606  51,235   118,041   98,627        Non-interest income:       Demand deposit account fees 2,091  2,015   4,137   3,903Bank-owned life insurance 2,741  1,990   4,914   3,849Title insurance fees 829  861   1,487   1,507Loan fees and service charges 1,791  1,744   2,985   2,800Gain on securities transactions —  336   —   336Change in fair value of equity securities 182  272   (982)  580Gain (loss) on sale of loans 755  (15)  775   500Gain on sale of other real estate owned —  281   —   281Other non-interest income 2,441  2,689   4,261   4,888Total non-interest income 10,830  10,173   17,577   18,644        Non-interest expense:       Compensation and employee benefits 31,965  28,933   63,062   57,516Occupancy 6,782  5,968   13,579   12,153Federal deposit insurance premiums 1,827  1,739   3,412   3,619Advertising 665  563   1,313   1,094Professional fees 2,224  3,519   3,618   6,034Data processing and software expenses 4,966  4,103   9,618   8,164Merger-related expenses 819  —   2,642   —Other non-interest expense, net 169  81   (340)  171Total non-interest expense 49,417  44,906   96,904   88,751        Income before income tax expense 20,019  16,502   38,714   28,520        Income tax expense 5,533  4,197   11,129   7,315        Net income$14,486 $12,305  $27,585  $21,205        Earnings per share-basic$0.14 $0.12  $0.27  $0.21Earnings per share-diluted$0.14 $0.12  $0.27  $0.21Weighted average shares outstanding-basic 101,367,978  101,985,784   101,317,739   101,898,636Weighted average shares outstanding-diluted 101,946,380  101,985,784   101,708,284   101,898,636 COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES
Average Balances/Yields
   For the Three Months Ended June 30,  2026   2025  Average
Balance Interest
and
Dividends Yield / Cost Average
Balance Interest
and
Dividends Yield / Cost (Dollars in thousands)Interest-earnings assets:           Loans$8,281,118  $103,340 5.01% $8,059,332  $99,646 4.96%Securities 1,624,577   14,166 3.50%  1,493,913   13,223 3.55%Other interest-earning assets 439,354   4,745 4.33%  281,611   3,622 5.16%Total interest-earning assets 10,345,049   122,251 4.74%  9,834,856   116,491 4.75%Non-interest-earning assets 907,835       860,948     Total assets$11,252,884      $10,695,804                 Interest-bearing liabilities:           Interest-bearing demand$1,917,627  $9,864 2.06% $1,938,459  $10,898 2.25%Money market accounts 1,424,641   8,645 2.43%  1,332,835   9,424 2.84%Savings and club deposits 622,373   654 0.42%  645,167   1,114 0.69%Certificates of deposit 2,935,893   26,972 3.68%  2,788,547   27,908 4.01%Total interest-bearing deposits 6,900,534   46,135 2.68%  6,705,008   49,344 2.95%FHLB advances 1,295,513   13,066 4.05%  1,218,442   13,303 4.38%Junior subordinated debentures 7,066   132 7.49%  7,045   141 8.03%Total borrowings 1,302,579   13,198 4.06%  1,225,487   13,444 4.40%Total interest-bearing liabilities 8,203,113  $59,333 2.90%  7,930,495  $62,788 3.18%            Non-interest-bearing liabilities:           Non-interest-bearing deposits 1,628,692       1,443,627     Other non-interest-bearing liabilities 240,038       215,390     Total liabilities 10,071,843       9,589,512     Total stockholders' equity 1,181,041       1,106,292     Total liabilities and stockholders' equity$11,252,884      $10,695,804                 Net interest income  $62,918     $53,703  Interest rate spread    1.84%     1.57%Net interest-earning assets$2,141,936      $1,904,361     Net interest margin    2.44%     2.19%Ratio of interest-earning assets to interest-bearing liabilities 126.11%      124.01%     COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES
Average Balances/Yields
   For the Six Months Ended June 30,  2026   2025  Average
Balance Interest
and
Dividends Yield / Cost Average
Balance Interest
and
Dividends Yield / Cost (Dollars in thousands)Interest-earnings assets:           Loans$8,271,951  $205,492 5.01% $7,977,402  $194,756 4.92%Securities 1,590,580   27,145 3.44%  1,485,771   25,776 3.50%Other interest-earning assets 381,127   8,485 4.49%  299,424   8,122 5.47%Total interest-earning assets 10,243,658   241,122 4.75%  9,762,597   228,654 4.72%Non-interest-earning assets 897,888       866,499     Total assets$11,141,546      $10,629,096                 Interest-bearing liabilities:           Interest-bearing demand$1,944,573  $19,930 2.07% $1,999,157  $22,438 2.26%Money market accounts 1,449,238   17,709 2.46%  1,307,676   18,662 2.88%Savings and club deposits 622,117   1,307 0.42%  647,201   2,221 0.69%Certificates of deposit 2,903,864   53,500 3.72%  2,772,808   56,168 4.08%Total interest-bearing deposits 6,919,792   92,446 2.69%  6,726,842   99,489 2.98%FHLB advances 1,242,091   25,089 4.07%  1,140,113   24,857 4.40%Junior subordinated debentures 7,063   263 7.51%  7,041   280 8.02%Other borrowings 718   15 4.21%  —   — —%Total borrowings 1,249,872   25,367 4.09%  1,147,154   25,137 4.42%Total interest-bearing liabilities 8,169,664  $117,813 2.91%  7,873,996  $124,626 3.19%            Non-interest-bearing liabilities:           Non-interest-bearing deposits 1,558,159       1,438,262     Other non-interest-bearing liabilities 237,291       218,314     Total liabilities 9,965,114       9,530,572     Total stockholders' equity 1,176,432       1,098,524     Total liabilities and stockholders' equity$11,141,546      $10,629,096                 Net interest income  $123,309     $104,028  Interest rate spread    1.84%     1.53%Net interest-earning assets$2,073,994      $1,888,601     Net interest margin    2.43%     2.15%Ratio of interest-earning assets to interest-bearing liabilities 125.39%      123.99%     COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES
Components of Net Interest Rate Spread and Margin
  Average Yields/Costs by Quarter June 30,
2026 March 31,
2026 December 31,
2025 September 30,
2025 June 30,
2025Yield on interest-earning assets:         Loans5.01% 5.01% 5.03% 5.04% 4.96%Securities3.50  3.38  3.36  3.41  3.55 Other interest-earning assets4.33  4.78  4.69  5.24  5.16 Total interest-earning assets4.74% 4.76% 4.77% 4.81% 4.75%          Cost of interest-bearing liabilities:         Total interest-bearing deposits2.68% 2.71% 2.79% 2.91% 2.95%Total borrowings4.06  4.12  4.25  4.37  4.40 Total interest-bearing liabilities2.90% 2.92% 3.01% 3.14% 3.18%          Interest rate spread1.84% 1.84% 1.76% 1.67% 1.57%Net interest margin2.44% 2.42% 2.36% 2.29% 2.19%          Ratio of interest-earning assets to interest-bearing liabilities126.11% 124.59% 124.84% 124.64% 124.01% COLUMBIA FINANCIAL, INC. AND SUBSIDIARIES
Selected Financial Highlights   June 30,
2026 March 31,
2026 December 31,
2025 September 30,
2025 June 30,
2025SELECTED FINANCIAL RATIOS(1):         Return on average assets0.52% 0.48% 0.57% 0.55% 0.46%Core return on average assets0.54% 0.55% 0.57% 0.56% 0.47%Return on average equity4.92% 4.55% 5.43% 5.23% 4.46%Core return on average equity5.14% 5.17% 5.50% 5.41% 4.58%Core return on average tangible equity5.71% 5.75% 6.14% 6.04% 5.14%Interest rate spread1.84% 1.84% 1.76% 1.67% 1.57%Net interest margin2.44% 2.42% 2.36% 2.29% 2.19%Non-interest income to average assets0.39% 0.25% 0.31% 0.36% 0.38%Non-interest expense to average assets1.76% 1.75% 1.70% 1.65% 1.68%Efficiency ratio67.01% 70.73% 68.42% 67.04% 70.30%Core efficiency ratio65.90% 68.02% 68.06% 66.04% 69.41%Average interest-earning assets to average interest-bearing liabilities126.11% 124.59% 124.84% 124.64% 124.01%Net charge-offs/ (recoveries) to average outstanding loans(2)0.10% (0.03)        % 0.03% 0.04% 0.04%          (1)Ratios are annualized when appropriate.(2)The June 30, 2025 ratio includes $3.2 million of non-annualized PCD charge-offs related to the purchased commercial equipment finance loans. ASSET QUALITY DATA:  June 30,
2026 March 31,
2026 December 31,
2025 September 30,
2025 June 30,
2025 (Dollars in thousands)Non-accrual loans$42,988  $41,375  $38,000  $32,529  $39,545 90+ and still accruing —   —   —   —   — Non-performing loans 42,988   41,375   38,000   32,529   39,545 Real estate owned 5,923   5,923   —   —   — Total non-performing assets$48,911  $47,298  $38,000  $32,529  $39,545           Non-performing loans to total gross loans 0.51%  0.50%  0.46%  0.40%  0.49%Non-performing assets to total assets 0.40%  0.43%  0.34%  0.30%  0.37%Allowance for credit losses on loans ("ACL")$71,065  $68,761  $67,201  $65,659  $64,467 ACL to total non-performing loans 165.31%  166.19%  176.84%  201.85%  163.02%ACL to gross loans 0.84%  0.84%  0.82%  0.80%  0.79% LOAN DATA:  June 30,
2026 March 31,
2026 December 31,
2025 September 30,
2025 June 30,
2025 (In thousands)Real estate loans:     One-to-four family$2,518,768  $2,543,588  $2,558,252  $2,583,162  $2,629,372 Multifamily 1,768,395   1,669,232   1,677,613   1,612,105   1,578,733 Commercial real estate 2,573,823   2,472,993   2,513,260   2,532,329   2,517,693 Construction 502,609   520,753   469,438   465,283   415,403 Commercial business loans 831,030   752,246   766,792   771,486   726,526 Consumer loans:         Home equity loans and advances 248,141   249,487   255,126   256,970   256,384 Other consumer loans 2,851   2,850   2,895   2,725   2,602 Total gross loans 8,445,617   8,211,149   8,243,376   8,224,060   8,126,713 Purchased credit deteriorated loans 9,828   10,158   10,442   10,920   11,998 Net deferred loan costs, fees and purchased premiums and discounts 38,165   38,371   38,192   37,580   36,788 Allowance for credit losses (71,065)  (68,761)  (67,201)  (65,659)  (64,467)Loans receivable, net$8,422,545  $8,190,917  $8,224,809  $8,206,901  $8,111,032   At June 30, 2026 (Dollars in thousands) Balance % of Gross Loans Weighted Average
Loan to Value
Ratio(1) Weighted
Average
Debt Service
Coverage(1)Multifamily Real Estate$1,768,395 20.9% 59.0% 1.51        Owner Occupied Commercial Real Estate$651,597 7.7% 60.0% 2.52        Investor Owned Commercial Real Estate:       Retail / Shopping centers$536,812 6.4% 55.2% 1.57Mixed Use 317,849 3.8  61.3  1.51Industrial / Warehouse 489,704 5.8  52.3  1.60Non-Medical Office 175,834 2.1  52.0  1.86Medical Office 93,788 1.1  59.6  1.46Single Purpose 58,295 0.7  64.1  1.38Other 249,944 3.0  51.7  2.10Total$1,922,226 22.8% 55.2% 1.65        Total Multifamily and Commercial Real Estate Loans$4,342,218 51.4% 57.5% 1.72        (1)Based on the most recent financial information available. As of June 30, 2026, the Company had loan exposures of approximately $793,000 and $846,000 related to office and rent stabilized multifamily loans in New York City, respectively. In connection with the closing of the Northfield Bank merger in July 2026, the Company will acquire New York City rent stabilized multifamily loans totaling approximately $415.1 million as of June 30, 2026. DEPOSIT DATA:  June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Balance Weighted
Average
Rate Balance Weighted
Average
Rate Balance Weighted
Average
Rate Balance Weighted
Average
Rate (Dollars in thousands)Non-interest-bearing demand$1,555,833 —% $1,508,030 —% $1,517,399 —% $1,490,722 —%Interest-bearing demand 2,844,989 1.37   1,882,987 1.86   1,985,871 1.99   1,855,724 2.04 Money market accounts 1,409,504 2.48   1,451,274 2.43   1,465,028 2.59   1,396,474 2.74 Savings and club deposits 636,566 0.42   625,001 0.42   623,444 0.47   638,857 0.61 Certificates of deposit 3,055,173 3.69   2,904,722 3.71   2,852,337 3.80   2,858,544 3.89 Total deposits$9,502,065 1.99% $8,372,014 2.16% $8,444,079 2.23% $8,240,321 2.32% CAPITAL RATIOS:    June 30, December 31, 2026(1) 2025
Company:   Total capital (to risk-weighted assets)14.89% 14.92%Tier 1 capital (to risk-weighted assets)13.97% 14.03%Common equity tier 1 capital (to risk-weighted assets)13.89% 13.94%Tier 1 capital (to adjusted total assets)10.32% 10.27%    Columbia Bank:   Total capital (to risk-weighted assets)14.11% 14.09%Tier 1 capital (to risk-weighted assets)13.19% 13.20%Common equity tier 1 capital (to risk-weighted assets)13.19% 13.20%Tier 1 capital (to adjusted total assets)9.75% 9.67%    (1)Estimated ratios at June 30, 2026    Reconciliation of GAAP to Non-GAAP Financial Measures      Book and Tangible Book Value per Share   June 30, December 31,    2026   2025    (Dollars in thousands)Total stockholders' equity  $1,196,210  $1,160,728 Less: goodwill   (110,715)  (110,715)Less: core deposit intangible   (6,007)  (6,946)Total tangible stockholders' equity  $1,079,488  $1,043,067       Shares outstanding   104,055,967   103,984,649       Book value per share  $11.50  $11.16 Tangible book value per share  $10.37  $10.03  Reconciliation of GAAP to Non-GAAP Financial Measures (continued)        Reconciliation of Core Net Income        Three Months Ended June 30, Six Months Ended June 30,  2026  2025   2026  2025  (In thousands)Net income$14,486 $12,305  $27,585 $21,205 Less: gain on securities transactions, net of tax —  (251)  —  (251)Add: severance expense, net of tax —  354   —  517 Add: merger-related expenses, net of tax 650  —   1,245  — Add: litigation expenses, net of tax —  242   —  242 Core net income$15,136 $12,650  $28,830 $21,713  Return on Average Assets        Three Months Ended June 30, Six Months Ended June 30,  2026   2025   2026   2025  (Dollars in thousands)Net income$14,486  $12,305  $27,585  $21,205         Average assets$11,252,884  $10,695,804  $11,141,546  $10,629,096         Return on average assets 0.52%  0.46%  0.50%  0.40%        Core net income$15,136  $12,650  $28,830  $21,713         Core return on average assets 0.54%  0.47%  0.52%  0.41% Return on Average Equity        Three Months Ended June 30, Six Months Ended June 30,  2026   2025   2026   2025  (Dollars in thousands)Total average stockholders' equity$1,181,041  $1,106,292  $1,176,432  $1,098,524 Less: gain on securities transactions, net of tax —   (251)  —   (251)Add: severance expense, net of tax —   354   —   517 Add: merger-related expenses, net of tax 650   —   1,245   — Add: litigation expenses, net of tax —   242   —   242 Core average stockholders' equity$1,181,691  $1,106,637  $1,177,677  $1,099,032         Return on average equity 4.92%  4.46%  4.73%  3.89%        Core return on core average equity 5.14%  4.58%  4.94%  3.98% Reconciliation of GAAP to Non-GAAP Financial Measures (continued)               Return on Average Tangible Equity     Three Months Ended June 30, Six Months Ended June 30,  2026   2025   2026   2025  (Dollars in thousands)Total average stockholders' equity$1,181,041  $1,106,292  $1,176,432  $1,098,524 Less: average goodwill (110,715)  (110,715)  (110,715)  (110,715)Less: average core deposit intangible (6,293)  (8,241)  (6,531)  (8,511)Total average tangible stockholders' equity$1,064,033  $987,336  $1,059,186  $979,298         Core return on average tangible equity 5.71%  5.14%  5.49%  4.47% Efficiency Ratios        Three Months Ended June 30, Six Months Ended June 30,  2026   2025   2026   2025  (Dollars in thousands)Net interest income$62,918  $53,703  $123,309  $104,028 Non-interest income 10,830   10,173   17,577   18,644 Total income$73,748  $63,876  $140,886  $122,672         Non-interest expense$49,417  $44,906  $96,904  $88,751         Efficiency ratio 67.01%  70.30%  68.78%  72.35%        Non-interest income$10,830  $10,173  $17,577  $18,644 Less :gain on securities transactions —   (336)  —   (336)Core non-interest income$10,830  $9,837  $17,577  $18,308         Non-interest expense$49,417  $44,906  $96,904  $88,751 Less: severance expense —   (475)  —   (695)Less: merger-related expenses (819)  —   (2,642)  — Less: litigation expenses —   (325)  —   (325)Core non-interest expense$48,598  $44,106  $94,262  $87,731         Core efficiency ratio 65.90%  69.41%  66.91%  71.71% Columbia Financial, Inc.
Investor Relations Department
(833) 550-0717

FAIR LAWN, N.J., July 16, 2026 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”), a Maryland corporation and the proposed successor to Columbia Financial, Inc. (Nasdaq Global Select Market: CLBK), a Delaware corporation and the mid-tier holding company for Columbia Bank (the “Holding Company” or “Columbia”), announced today that it has completed its firm commitment underwritten offering in connection with Columbia’s second-step conversion. As a result of the firm commitment underwritten offering and the recently completed subscription offering, the Company expects to sell 167,236,353 shares of its common stock at a purchase price of $10.00 per share for total offering proceeds of $1.67 billion.

Orders for a total of 52,291,781 shares at a purchase price of $10.00 per share have been accepted in the firm commitment underwritten offering, for which Keefe, Bruyette & Woods, Inc., A Stifel Company, served as the lead-left book running manager, Piper Sandler & Co. acted as co-book running manager and Brean Capital, LLC acted as co-manager. The Company received orders for 114,944,572 shares in the subscription offering portion of its second-step conversion, for which Keefe, Bruyette & Woods, Inc., A Stifel Company, acted as selling agent, including 5,017,091 shares subscribed for by the Company’s ESOP. Existing shares of the Holding Company common stock held by the minority shareholders will be exchanged for 2.2000x shares of Company common stock. Cash in lieu of fractional shares will be paid at a rate of $10.00 per share.  

The Company also announced that, immediately upon completion of the conversion, it expects to complete the acquisition of Northfield Bancorp Inc. Based on the final valuation report of the independent appraiser, Northfield stockholders will receive either $14.25 in cash or 1.425 shares of Company common stock for each share of Holding Company common stock, or a combination thereof, subject to the elections they made and proration procedures, for aggregate merger consideration of $580 million. For Northfield stockholders who did not make an election (“non-election shares”), such stockholders will receive a mix of cash and Company common stock for the non-election shares of Northfield common stock held by such stockholders based on the proration procedures in the Agreement and Plan of Merger, which will result in final aggregate merger consideration of 70% stock and 30% cash. As previously announced, the election deadline for Northfield stockholders was 5:00 p.m., New York time, on Friday, July 10, 2026.

The transactions are scheduled to close on July 20, 2026, at which time Columbia Bank MHC will cease to exist, the Company will become a fully public company and the Northfield merger will have been completed. The shares of common stock sold in the offering and issued in the exchange and the shares of Company stock issued as merger consideration are expected to begin trading on the Nasdaq Global Select Market on July 21, 2026 under the symbol “CLBK”.

If you subscribed for shares of the Company’s common stock in the subscription offering and have any questions regarding your subscription order, you may confirm your subscription order online at https://allocations.kbw.com, or you may contact the Stock Information Center at (844) 265-9680. Existing stockholders of the Holding Company or current Northfield stockholders who hold their shares directly as the record holder and have any questions about their accounts should contact the Company’s transfer agent Broadridge Financial Solutions, LLC at (877) 830-4932. Existing stockholders of the Holding Company or Northfield whose shares are beneficially held in “street name” should contact their broker-dealer, bank or other nominee with any questions about their accounts.

Additionally, purchasers in the subscription offering who have questions about their Direct Registration System (“DRS”) Book-Entry statements, as well as interest checks, should contact Broadridge Corporate Issuer Solutions, LLC after the closing date at (800) 586-1549.

About Columbia

The Holding Company is a Delaware corporation organized as Columbia Bank’s mid-tier stock holding company and is a majority-owned subsidiary of Columbia Bank MHC. The Company is a newly formed Maryland corporation that will be the successor to the Holding Company upon closing of the second-step conversion. Columbia Bank is a federally chartered savings bank headquartered in Fair Lawn, New Jersey that operates 70 full-service banking offices and offers traditional financial services to consumers and businesses in its market area. For more information about Columbia Bank, please visit www.columbiabankonline.com.

Disclaimer and Caution About Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, which statements involve inherent risks and uncertainties. Examples of forward-looking statements include, but are not limited to, statements regarding the outlook and expectations of Columbia and Northfield, respectively, with respect to the proposed transaction, the strategic benefits and financial benefits of the proposed transaction, including the expected impact of the proposed transaction on the combined company’s future financial performance (including anticipated accretion to earnings per share, the tangible book value earn-back period and other operating and return metrics), the timing of the closing of the proposed transaction, and the ability to successfully integrate the combined businesses. Such statements are often characterized by the use of qualified words (and their derivatives) such as “may,” “will,” “anticipate,” “could,” “should,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “project” and “intend,” as well as words of similar meaning or other statements concerning opinions or judgment of Columbia or Northfield or their respective management about future events.

Forward-looking statements are based on assumptions as of the time they are made and are subject to risks, uncertainties and other factors that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results expressed or implied by such forward-looking statements. Such risks, uncertainties and assumptions, include, among others, the following: (i) the outcome of any legal proceedings that may be instituted against Columbia or Northfield; (ii) the possibility that the anticipated benefits of the proposed transaction, including anticipated cost savings and strategic gains, are not realized when expected or at all, including as a result of changes in, or problems arising from, general economic and market conditions, interest and exchange rates, monetary policy, laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which Columbia and Northfield operate; (iii) the possibility that the integration of the two companies may be more difficult, time-consuming or costly than expected; (iv) the impact of purchase accounting with respect to the proposed transaction, or any change in the assumptions used regarding the assets acquired and liabilities assumed to determine their fair value and credit marks; (v) the diversion of management’s attention from ongoing business operations and opportunities; (vi) potential adverse reactions of Columbia’s or Northfield’s customers or changes to business or employee relationships, including those resulting from the completion of the proposed transaction; (vii) a material adverse change in the financial condition of Columbia or Northfield; (vii) changes in Columbia’s or Northfield’s share price before closing; (viii) risks relating to the potential dilutive effect of shares of Columbia’s common stock to be issued in the proposed transaction; (ix) general competitive, economic, political and market conditions, including the impact of any potential government shutdown; (x) major catastrophes such as earthquakes, floods or other natural or human disasters, including infectious disease outbreaks; and (xi) other factors that may affect future results of Columbia or Northfield, including, among others, changes in asset quality and credit risk; the imposition of tariffs and any retaliatory responses; the inability to sustain revenue and earnings growth; changes in interest rates; deposit flows; inflation; customer borrowing, repayment, investment and deposit practices; the impact, extent and timing of technological changes; capital management activities; and other actions of the Federal Reserve Board and legislative and regulatory actions and reforms.

These factors are not necessarily all of the factors that could cause Columbia’s, Northfield’s or the combined company’s actual results, performance or achievements to differ materially from those expressed in or implied by any of the forward-looking statements. Other factors, including unknown or unpredictable factors, also could harm Columbia’s, Northfield’s or the combined company’s results.

Although each of Columbia and Northfield believes that its expectations with respect to forward-looking statements are based upon reasonable assumptions based on its existing knowledge of its business and operations, there can be no assurance that actual results of Columbia or Northfield will not differ materially from any projected future results expressed or implied by such forward-looking statements. Additional factors that could cause results to differ materially from those described above can be found in Columbia’s most recent annual report on Form 10-K for the fiscal year ended December 31, 2025, quarterly reports on Form 10-Q, and other documents subsequently filed by Columbia with the Securities Exchange Commission (the “SEC”), and in Northfield’s most recent annual report on Form 10-K for the fiscal year ended December 31, 2025, and its other filings with the SEC and quarterly reports on Form 10-Q, and other documents subsequently filed by Northfield with the SEC. The actual results anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on Columbia, Northfield or each of their respective businesses or operations. Investors are cautioned not to rely too heavily on any such forward-looking statements. Columbia and Northfield urge you to consider all of these risks, uncertainties and other factors carefully in evaluating all such forward-looking statements made by Columbia and Northfield. Forward-looking statements speak only as of the date they are made and Columbia and/or Northfield undertake no obligation to update or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. For purposes of this section, references to Columbia include both Columbia Financial, Inc., a Delaware corporation and the current mid-tier holding company for Columbia Bank, and Columbia Financial, Inc., a Maryland corporation and the proposed successor holding company of Columbia Bank.

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, and no offer to sell or solicitation of an offer to buy shall be made in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Columbia Financial, Inc.
Investor Relations Department
(833) 550-0717

FAIR LAWN, N.J., July 01, 2026 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (NASDAQ: CLBK), a Delaware corporation and the mid-tier holding company for Columbia Bank (the “Holding Company”), announced today that at its Annual Meeting of Stockholders held on June 25, 2026, its stockholders approved the Plan of Conversion and Reorganization whereby Columbia Bank MHC, the mutual holding company of the Holding Company and the Bank, will convert from mutual holding company form to the fully public stock holding company form (the “Conversion”), and approved its acquisition of Northfield Bancorp, Inc. (“Northfield”), which will occur simultaneously upon completion of the Conversion. In addition, at a Special Meeting of Members of Columbia Bank MHC held on June 29, 2026, the depositors of the Bank approved the Conversion.

Columbia Financial (CLBK - Free Report) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving.

The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this company, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.

The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.

Consensus earnings estimates for the next quarter and full year have moved considerably higher for Columbia Financial, as there has been strong agreement among the covering analysts in raising estimates.

The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:

12 Month EPS

Current-Quarter Estimate RevisionsThe earnings estimate of $0.16 per share for the current quarter represents a change of +77.8% from the number reported a year ago.

Over the last 30 days, the Zacks Consensus Estimate for Columbia Financial has increased 6.45% because one estimate has moved higher compared to no negative revisions.

Current-Year Estimate RevisionsFor the full year, the earnings estimate of $0.76 per share represents a change of +46.2% from the year-ago number.

There has been an encouraging trend in estimate revisions for the current year as well. Over the past month, one estimate has moved up for Columbia Financial versus no negative revisions. This has pushed the consensus estimate 11.85% higher.

Favorable Zacks RankThanks to promising estimate revisions, Columbia Financial currently carries a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.

Bottom LineColumbia Financial shares have added 6.1% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions. So, you may consider adding it to your portfolio right away to benefit from its earnings growth prospects.

For the quarter ended March 2026, Columbia Financial (CLBK - Free Report) reported revenue of $67.14 million, up 14.2% over the same period last year. EPS came in at $0.15, compared to $0.09 in the year-ago quarter.

The reported revenue represents a surprise of -4.23% over the Zacks Consensus Estimate of $70.1 million. With the consensus EPS estimate being $0.16, the EPS surprise was -3.23%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Columbia Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Net Interest Margin: 2.4% versus the two-analyst average estimate of 2.4%.Efficiency Ratio: 70.7% versus the two-analyst average estimate of 66.3%.Total Non-Interest Income: $6.75 million compared to the $9.46 million average estimate based on two analysts.Net Interest Income: $60.39 million versus the two-analyst average estimate of $60.63 million.View all Key Company Metrics for Columbia Financial here>>>

Shares of Columbia Financial have returned +7.8% over the past month versus the Zacks S&P 500 composite's +6.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed merger of Northfield Bancorp, Inc. (NasdaqGS: NFBK) and Columbia Financial, Inc. (NasdaqGS: CLBK). Under the terms of the proposed transaction, each Northfield share will be converted into either stock or cash, at the holder’s election, with consideration tied to the final independent valuation: from 1.425–1.465 holding company shares or $14.25–$14.65 in cash per share, with cash capped at 30% of outstanding shares. KSF is seeking to determine whether the merger and the process that led to it are adequate, or whether the merger is fair to Northfield shareholders.

If you would like to discuss your legal rights regarding the proposed transaction, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nasdaqgs-nfbk/ to learn more.

To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

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$HAREHOLDER ALERT: The M&A Class Action Firm Encourages $hareholders to Act Before the Vote--HCBN, NFBK, CLBK, and TBRG PR Newswire

NEW YORK, May 22, 2026

, /PRNewswire/ -- Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2025 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating.

HCB Financial Corp. (OTCPK: HCBN) related to its merger with Independent Bank Corporation. Under the terms of the proposed transaction, HCB shareholders are expected to receive 1.5900 shares of Independent common stock and $17.51 for each share of HCB common stock.ACT NOW. The Shareholder Vote is scheduled for June 17, 2026.

Click here for more information https://monteverdelaw.com/case/hcb-financial-corp/. It is free and there is no cost or obligation to you.

Northfield Bancorp, Inc. (NASDAQ: NFBK) related to its merger with Columbia Financial, Inc.ACT NOW. The Shareholder Vote is scheduled for June 25, 2026.

Click here for more information https://monteverdelaw.com/case/northfield-bancorp-inc/. It is free and there is no cost or obligation to you.

Columbia Financial, Inc. (NASDAQ: CLBK) related to its merger with Northfield Bancorp, Inc.ACT NOW. The Shareholder Vote is scheduled for June 25, 2026.

Click here for more information https://monteverdelaw.com/case/columbia-financial-inc/. It is free and there is no cost or obligation to you.

TruBridge, Inc. (NASDAQ: TBRG) related to its sale to Inventurus Knowledge Solutions, Inc. Under the terms of the proposed transaction, TruBridge shareholders are expected to receive $26.25 per share in cash.Click here for more info https://monteverdelaw.com/case/trubridge-inc/. It is free and there is no cost or obligation to you.

NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:

Do you file class actions and go to Court?When was the last time you recovered money for shareholders?What cases did you recover money in and how much?About Monteverde & Associates PC

Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court.

No company, director or officer is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at [email protected] or by telephone at (212) 971-1341.

Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
[email protected]
Tel: (212) 971-1341

Attorney Advertising. (C) 2026 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

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