MergerJul 20, 2026, 07:22 PM
Columbia Financial Completes Conversion & $580M Northfield Merger
AI Summary
Columbia Financial, Inc. announced the completion of its second-step conversion from a mutual holding company structure and its related public offering. Simultaneously, the company completed its previously announced merger with Northfield Bancorp, Inc. On a pro forma basis as of March 31, 2026, the combined entity has $18.0 billion in total assets, $12.5 billion in total deposits, and $11.9 billion in total loans. The merger creates one of the largest community banks in the region, aiming to strengthen market position and create long-term value.
Key Highlights
- Completed second-step conversion from mutual holding company structure.
- Completed merger with Northfield Bancorp, Inc. for $580 million.
- Pro forma total assets of $18.0 billion as of March 31, 2026.
- Pro forma total deposits of $12.5 billion as of March 31, 2026.
- Pro forma total loans held for investment of $11.9 billion.
- Sold 167,236,353 shares of common stock at $10.00 per share.
- Approximately 269,542,256 shares of common stock outstanding post-merger.
- Four Northfield directors appointed to Columbia's Boards of Directors.
Price Impact
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