Northfield Bancorp Inc

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 announced that its stockholders approved the plan to convert Columbia Bank MHC from a mutual holding company to a fully public stock holding company, and also approved the acquisition of Northfield Bancorp, which will close simultaneously with the conversion. Depositors of Columbia Bank approved the conversion at a special meeting on June 29, 2026. The subscription offering, including a resolicitation that concluded June 30, 2026, generated approximately $1.1 billion in orders, excluding the employee stock ownership plan. A firm commitment underwritten offering for unsold shares at $10.00 per share is expected to begin the week of July 6, 2026, led by Keefe, Bruyette & Woods. Completion remains subject to final regulatory approvals and the sale of at least 142,375,000 shares at the adjusted minimum of the offering range.