Columbia Financial, Inc. Announces Repositioning of Balance Sheet [Yahoo! Finance]
Columbia Financial, Inc. (CLBK)
Last columbia financial, inc. earnings: 4/29 04:01 pm
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Source: Yahoo! Finance
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 recognized in the Company's stockholders' equity through accumulated other comprehensive loss. “Given the decline in interest rates, we believe this is a well-timed transaction that is expected to improve future earnin
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News
- Columbia Financial, Inc. Announces Repositioning of Balance SheetGlobeNewswire
- 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