Columbia Financial posts Q1 net loss of $1.2M vs net income $18.7M YoY; NIM shrinks to 1.75%

Columbia Financial, Inc.

2024-Q1 EPS reported -$0.01

Net loss of $1.2M ($0.01 diluted EPS) versus net income of $18.7M ($0.18) in Q1 2023.
Net interest income fell 30.7% to $42.2M; net interest margin dropped 83 bps to 1.75%.
Provision for credit losses surged to $5.3M from $175k; net charge-offs were $5.0M.
Non-performing loans rose to $22.9M (0.30% of loans) from $12.6M (0.16%) at Dec 2023.
Company reaffirms net interest margin stabilization; repurchased 101,516 shares for $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 0.9

Columbia Financial, Inc. reported the three months ended March 31, 2024 results: net income net loss of $1.2 million, EPS $0.01 per basic and diluted share.

Period: the three months ended March 31, 2024
Net income: net loss of $1.2 million
EPS: $0.01 per basic and diluted share
Result: reported results

Exact text from the filing

reported a net loss of $1.2 million, or $0.01 per basic and diluted share, for the quarter ended March 31, 2024

View on SEC.gov

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

Columbia Financial, Inc. filing history →

Source: SEC EDGAR

accession 0001723596-24-000186

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.