Columbia Financial Q3 net income drops 56% to $9.1M; net interest margin shrinks to 2.06%

Columbia Financial, Inc.

2023-Q3 EPS reported $0.29

GAAP EPS of $0.09 vs $0.20 YoY; core net income fell 60% to $9.1M.
Net interest income $48.5M, down 30% from $69.2M; net interest margin 206 bps vs 301 bps.
Non-performing loans rose to $15.2M (0.19% of loans) from $6.7M (0.09%).
Repurchased 4.1M shares for $78.3M at avg $19.08 during nine months; total deposits fell $298M.
Provision for credit losses increased to $2.4M from $1.5M; net charge-offs were $1.7M.

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 0.95

Columbia Financial, Inc. reported the quarter ended September 30, 2023 results: net income $9.1 million, EPS $0.09 per basic and diluted share.

Period: the quarter ended September 30, 2023
Net income: $9.1 million
EPS: $0.09 per basic and diluted share
Result: reported results

Exact text from the filing

Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK), the mid-tier holding company for Columbia Bank ("Columbia") and Freehold Bank ("Freehold"), reported net income of $9.1 million, or $0.09 per basic and diluted share, for the quarter ended September 30, 2023

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Columbia Financial, Inc. reported the nine months ended September 30, 2023 results: net income $29.5 million, EPS $0.29 per basic and diluted share.

Period: the nine months ended September 30, 2023
Net income: $29.5 million
EPS: $0.29 per basic and diluted share
Result: reported results

Exact text from the filing

For the nine months ended September 30, 2023, the Company reported net income of $29.5 million, or $0.29 per basic and diluted share

View on SEC.gov

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Columbia Financial, Inc. filing history →

Source: SEC EDGAR

accession 0001723596-23-000484

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