Columbia Financial sells $321M low-yield securities, expects 24% earnings boost in 2025

Columbia Financial, Inc.

Sold $321M of available-for-sale debt securities with 1.53% book yield and 3.6-year average life.
Pre-tax loss of ~$38M; repositioning expected to be neutral to tangible book value per share.
Proceeds used: $85M for loan growth, $66M for higher-yield securities, $170M to prepay borrowings.
Targets 24% increase in 2025 earnings and ~15 bps net interest margin expansion vs consensus.
Pro forma capital remains strong: total capital ratio 13.87%, tier 1 leverage 9.99% (Sep 30, 2024).

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