Columbia Financial announces fifth stock repurchase program

Columbia Financial announced that the Company’s Board of Directors has authorized a new stock repurchase program to acquire up to 3,000,000 shares, or approximately 2.7%, of the Company’s currently issued and outstanding common stock, commencing upon the completion of the Company’s existing stock repurchase program. On December 6, 2021, the Company announced its fourth stock repurchase program which authorized the purchase of up to 5,000,000 shares. Under this previously announced program, 4,311,566 shares of common stock have been repurchased at a cost of $90.6 million, or $20.99 per share. As of December 12, 2022, there are 688,434 shares remaining to be repurchased under this existing program. Thomas Kemly, President and Chief Executive Officer of the Company, stated: "I am happy to announce our new repurchase program. We have been successful in our commitment to repurchase shares of our common stock at attractive prices as a prudent way to deploy capital."