Columbia Financial Q2 net income $4.5M; core net income down 55% YoY; NIM 1.81%

Columbia Financial, Inc.

2024-Q2 EPS reported $0.03

Net income $4.5M ($0.04 EPS) vs $1.7M ($0.02) YoY; core net income $5.3M down 54.9% from $11.7M.
Net interest margin fell 36 bps to 1.81%; interest expense up 53.8% on higher deposit costs.
Provision for credit losses $2.2M (up $1.1M); non-performing loans doubled to $25.3M (0.33% of loans).
Stock repurchases paused; 365K shares repurchased at $16.14 in H1.
Uninsured deposits 26.6% of total ($2.1B); new Camden branch in southern NJ.

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