secwatch.observer — SEC 8-K summary
======================================

Issuer:     Columbia Financial, Inc. (CLBK)
CIK:        0001723596
Form:       8-K
Filed at:   2023-04-26T23:59:59+00:00
Accession:  0001723596-23-000179
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1723596/000172359623000179/0001723596-23-000179-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1723596/000172359623000179/clbk-20230426.htm
  HTML page:      https://secwatch.observer/filing/0001723596-23-000179

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer