Columbia Financial : Annual Meeting of Shareholders

Published: 2025-06-05 08:14:08 ET CLBK

Published on 06/05/2025 at 08:14

June 5, 2025 | Thomas J. Kemly, President & CEO

| Dennis E. Gibney, Sr. EVP, CFO

This presentation contains financial information presented in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). This presentation also contains certain non-GAAP information that the Company's management uses in its analysis of the Company's financial results, including core net income, core return on average assets, core return on average tangible stockholders' equity, and core efficiency ratio. Specifically, the Company provides measures based on what it believes are its operating earnings on a consistent basis and excludes material non-routine operating items which affect the GAAP reporting of results of operations. The Company's management believes that providing this information to analysts and investors allows them to better understand and evaluate the Company's core financial results for the periods presented. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names.

The Company also provides measurements and ratios based on tangible stockholders' equity. These measures are commonly utilized by regulators and market analysts to evaluate the Company's financial condition and, therefore, the Company's management believes that such information is useful to investors.

A reconciliation of the non-GAAP financial measures used in this presentation to the most directly comparable GAAP measures is provided in the appendix to this presentation.

Executed a balance sheet repositioning transaction in order to improve earnings in future years and expand net interest margin.

The Company sold $321 million of debt securities held available for sale at a loss and reinvested the proceeds in higher

yielding loans and securities and prepaid high cost borrowings.

Earnings were impacted by the repositioning transaction, as the Company reported a net loss of $11.7 million, or loss on earnings per basic and diluted share of $0.11.

Generated core net income of $23.2 million(1).

Realized core return on average assets(1) and core return on average tangible equity(1) of 0.22% and 2.14%, respectively.

Increased tangible book value per share to $9.17 at December 31, 2024.

Achieved deposit growth of 3.2% to $8.1 billion.

Maintained strong asset quality - nonperforming assets to total assets was 0.22% at December 31, 2024.

Stabilized net interest margin as funding cost pressures moderated.

Maintained strong capital with a Common Tier 1 risk-based capital ratio of 13.31%.

Repurchased 356,116 shares of our common stock for $5.9 million.

(1) Represents a Non-GAAP financial measure. 4

Reported net income of $8.9 million, or $0.09 per basic and diluted share.

Improved core return on average assets(1) and core return on average tangible equity(1) to 0.35% and 3.78%, respectively.

Increased tangible book value per share to $9.35 at March 31, 2025.

Continued our strategy to grow a strong, conservative balance sheet.

Asset growth of 1.3% to $10.6 billion.

Loans receivable growth of 1.4% to $8.0 billion.

Deposit growth of 1.2% to $8.2 billion.

Maintained strong asset quality - nonperforming assets to total assets was 0.25% at March 31, 2025.

Increased net interest margin 36 basis points to 2.11% for the quarter ended March 31, 2025 compared to 1.75% for the quarter ended March 31, 2024.

Continued to maintain prudent expense discipline.

Redesigned and modernized Columbia Bank's website.

(1) Represents a Non-GAAP financial measure. 5

Disclaimer

Columbia Financial Inc. published this content on June 05, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 05, 2025 at 12:13 UTC.