Columbia Financial Q2 net income plunges 93% to $1.7M on securities loss, margin compression

Columbia Financial, Inc.

2023-Q2 EPS reported $0.20

Q2 net income $1.7M ($0.02 EPS), down 93% from $23.0M ($0.22); core net income $11.7M, down 50.7% YoY.
Net interest margin fell 84 bps to 2.17%; interest expense surged 585% to $45.0M on higher deposit and borrowing costs.
Sold $234.4M of AFS securities at a $9.6M loss; booked $1.6M severance from workforce reduction.
Repurchased 1.2M shares for $69.3M under sixth buyback program; total assets fell 3.1% to $10.1B.
Non-performing loans increased to $11.1M (0.14% of loans) from $6.7M; uninsured deposits reduced to 24.1% of total.

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 1.0

Columbia Financial, Inc. reported the second quarter ended June 30, 2023 results: net income $1.7 million, or $0.02 per basic and diluted share, EPS $0.02 per basic and diluted share.

Period: the second quarter ended June 30, 2023
Net income: $1.7 million, or $0.02 per basic and diluted share
EPS: $0.02 per basic and diluted share
Result: reported results

Exact text from the filing

reported net income of $1.7 million, or $0.02 per basic and diluted share, for the quarter ended June 30, 2023

View on SEC.gov

171 earnings releases filed in the last 30 days. Browse all earnings releases →

Columbia Financial, Inc. filing history →

Source: SEC EDGAR

accession 0001723596-23-000364

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.