Columbia Financial, Inc.

Columbia Financial, Inc. announced that its subscription offering, part of the second-step conversion, received over 5,000 orders totaling approximately $925 million. The company has increased the maximum purchase limits for both individual and group investors in the stock offering. The individual limit rose from $3.0 million to $8.0 million, and the group limit from $10.0 million to $50.0 million, with a deadline of June 30, 2026, for supplemental orders. Shares not subscribed for will be sold at $10.00 each in an underwritten offering, with completion contingent on various approvals and minimum share sales.

Columbia Financial, Inc. and Northfield Bancorp, Inc. jointly announced that Columbia has provided election materials to Northfield common stockholders. Stockholders can elect to receive shares of the newly formed Holding Company, cash, or a combination upon the completion of the previously announced merger. The deadline for submitting election forms is July 10, 2026. The merger consideration varies based on the Appraised Full Conversion Value, with the current value of $2.291 billion placing it in the 1.425 shares or $14.25 cash per share tier.

Columbia Financial, Inc. reported a strong first quarter for 2026, with net income rising to $13.1 million ($0.13 per diluted share) from $8.9 million ($0.09 per diluted share) in the same period last year. The company's total assets were $11.01 billion as of March 31, 2026. Key strategic developments include the ongoing proposed acquisition of Northfield Bancorp, Inc., with merger terms contingent on independent valuations. The company's stock repurchase program remained paused during the quarter.

Columbia Financial, Inc. has entered into an Agency Agreement with Keefe Bruyette & Woods, Inc. (KBW) to assist in selling shares of its common stock. KBW will help with the company's subscription and community offerings on a best efforts basis and will serve as the lead-left book running manager for any firm commitment underwritten offering. KBW's fees will range from 1.0% to 2.0% for the subscription and community offerings, respectively, with underwriting discounts for firm commitment offerings varying based on transaction proceeds.

Columbia Financial, Inc. announced the commencement of its common stock offering, expected to begin around May 21, 2026. This offering is a key step in the proposed second-step conversion of Columbia Bank MHC from a mutual holding company to a stock holding company. The company also received conditional regulatory approval from the Federal Reserve and OCC to acquire Northfield Bancorp, Inc. and Northfield Bank, effective immediately upon the conversion's completion. Up to 192,625,000 shares will be offered at $10.00 each, with a minimum sale of 142,375,000 shares required for the conversion.

Columbia Financial, Inc. announced a proposed second-step conversion to a fully-public stock holding company, immediately followed by the acquisition of Northfield Bancorp, Inc. This strategic move coincides with strong first-quarter financial results, where net income increased by 47.2% to $13.1 million and basic EPS rose to $0.13. The company's stock repurchase program was paused during Q1 2026 due to the pending conversion and acquisition.

Columbia Financial, Inc. announced that it expects to commence its common stock offering on or about May 21, 2026. This offering is in connection with the proposed conversion of Columbia Bank MHC to a stock holding company form of organization. The company has also received conditional regulatory approval to acquire Northfield Bancorp, Inc. immediately upon the completion of this second-step conversion. Columbia Financial, Inc. is offering up to 192,625,000 shares at $10.00 per share, with a minimum sale requirement of 142,375,000 shares to complete the conversion and offering.

Columbia Financial, Inc. filed an Amendment No. 1 to its Form 10-K, providing updated information on its board of directors and executive officers. Paul Van Ostenbridge and Daria S. Torres are not seeking re-election, while Dennis E. Gibney and James H. Wainwright have been nominated for three-year terms. Thomas Splaine, Jr. was appointed Executive Vice President and Chief Financial Officer in January 2026. The filing also detailed 2025 executive compensation, including base salary increases for Named Executive Officers and performance against annual incentive program goals.

Columbia Financial, Inc. (CLBK) entered into new two-year employment agreements with five senior executives, effective April 1, 2026. These agreements, which replace previous ones for four executives, include automatic 12-month extensions. The 2026 annual base salaries range from $430,000 to $700,000 for Dennis E. Gibney. Executives are also eligible for short-term and long-term incentive plans, equity awards, and comprehensive severance packages for various termination scenarios, including a 3x payout for change in control.

Columbia Financial, Inc. announced that its Board of Directors officially designated Thomas Splaine, Jr. as the company's principal financial officer and principal accounting officer for U.S. Securities and Exchange Commission reporting purposes. This designation, effective April 17, 2026, formalizes Mr. Splaine's roles following his appointment as Executive Vice President and Chief Financial Officer on January 28, 2026. The move clarifies key financial reporting responsibilities within the company's executive leadership.