Columbia Financial, Inc. has completed its second-step conversion from a mutual holding company structure, a related $1.7 billion stock offering, and its merger with Northfield Bancorp, Inc. The company sold 167,236,353 shares at $10.00 per share, and each share of the former holding company was exchanged for 2.2000 shares of the new company. The Northfield deal, valued at $580 million, gives Northfield stockholders the right to receive either $14.25 in cash or 1.425 shares of Columbia common stock per share, with final consideration set at 70% stock and 30% cash. On a pro forma basis as of March 31, 2026, the combined entity has $18.0 billion in total assets, $12.5 billion in deposits, $11.9 billion in loans, and more than 100 branches across New Jersey and parts of New York. Columbia's common stock will begin trading on the Nasdaq Global Select Market on July 21, 2026, under the symbol CLBK.
Columbia Financial IncCompletes second-step conversion, $1.7B stock offering, and acquisition of Northfield Bancorp, creating a larger combined entity.
Northfield Bancorp IncAcquired by Columbia Financial in a $580M deal with stock and cash consideration.