Columbia Financial Q1 net income falls 8.2% to $18.7M; net interest margin compresses

Columbia Financial, Inc.

2023-Q1 EPS reported $0.18

Net income $18.7M ($0.18 EPS) vs $20.4M ($0.20 EPS) a year ago; core net income $19.8M, down 10.8%.
Net interest margin narrowed 40 bps to 2.58% as funding costs rose faster than asset yields.
Total deposits fell $327M (4.1%) from Dec 2022; borrowings increased $579.6M (51.4%).
Repurchased 2.4M shares at $19.90/share for $47.3M during the quarter.
Non-performing loans stable at 0.09% of gross loans; allowance for credit losses at 0.68%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Columbia Financial, Inc. reported the three months ended March 31, 2023 results: net income $18.7 million, EPS $0.18 per basic and diluted share.

Period: the three months ended March 31, 2023
Net income: $18.7 million
EPS: $0.18 per basic and diluted share
Result: reported results

Exact text from the filing

reported net income of $18.7 million, or $0.18 per basic and diluted share, for the quarter ended March 31, 2023

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Source: SEC EDGAR

accession 0001723596-23-000179

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