Columbia Financial Q3 net income down 32% YoY to $6.2M; NIM declines

Columbia Financial, Inc.

2024-Q3 EPS reported $0.09

EPS $0.06 vs $0.09 Q3 2023; nine-month EPS $0.09 vs $0.29, down 67.6%.
Net interest income $45.3M (-6.7% YoY); net interest margin 1.84% (vs 2.06% Q3 2023).
Provision for credit losses $4.1M in Q3 (+$1.7M); net charge-offs $2.7M (Q3) and $8.2M YTD.
Non-performing loans surged to $28.0M (0.36%) from $12.6M (0.16%) at Dec 2023.
Completed Freehold Bank merger/system conversion Oct 2024; stock repurchases paused.

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