secwatch.observer — SEC 8-K summary
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Issuer:     Columbia Financial, Inc. (CLBK)
CIK:        0001723596
Form:       8-K
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0001723596-23-000364
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1723596/000172359623000364/0001723596-23-000364-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1723596/000172359623000364/clbk-20230726.htm
  HTML page:      https://secwatch.observer/filing/0001723596-23-000364

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