Columbia Financial, Inc. Announces Repositioning of Balance Sheet
Columbia Financial, Inc. (CLBK)
Last columbia financial, inc. earnings: 4/29 04:01 pm
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Source: GlobeNewswire
FAIR LAWN, N.J., Dec. 05, 2024 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK) the holding company for Columbia Bank (the “Bank”) announced a repositioning of the Company’s balance sheet. As part of the Company’s strategy to improve future earnings and expand its net interest margin, the Company sold approximately $321 million of available-for-sale debt securities with a weighted average book yield of 1.53% and average life of 3.6 years that were mostly purchased during the COVID period. Proceeds from the sale were used to fund loan growth of $85 million, purchase $66 million of higher yielding debt securities and prepay $170 million of higher cost borrowings. The repositioning is immediately accretive to net interest income. The sale and prepayment resulted in a pre-tax loss of approximately $38 million. The repositioning is expected to be neutral to tangible book value per share as the unrealized loss with respect to the debt securities is already
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News
- Columbia Financial, Inc. Announces Repositioning of Balance Sheet [Yahoo! Finance]Yahoo! Finance
- Columbia Financial, Inc. Announces Appointment of New Senior Executive Vice President and Chief Operating Officer [Yahoo! Finance]Yahoo! Finance
- Columbia Financial, Inc. Announces Appointment of New Senior Executive Vice President and Chief Operating OfficerGlobeNewswire
- Columbia Financial GAAP EPS of $0.06, revenue of $54.3M Oct. 24, 2024 11:15 AM ET By: Tiyashi Datta , SA News Editor [Seeking Alpha]Seeking Alpha
- Columbia Financial, Inc. Announces Financial Results for the Third Quarter Ended September 30, 2024GlobeNewswire
CLBK
Earnings
- 10/24/24 - In-Line
CLBK
Sec Filings
- 12/17/24 - Form 4
- 12/17/24 - Form 4
- 12/17/24 - Form 4
- CLBK's page on the SEC website