Columbia Financial reports Q2 EPS 4c vs. 2c last year

The Company’s net interest margin for the quarter ended June 30, 2024 decreased 36 basis points to 1.81%, when compared to 2.17% for the quarter ended June 30, 2023. Total assets increased $118.0 million, or 1.1%, to $10.8 billion at June 30, 2024 as compared to December 31, 2023. Reports Book value per share $9.99. Reports CET1 ratio 13.36%. Thomas J. Kemly, President and Chief Executive Officer commented: “The second quarter results showed improvement over the first quarter despite continuing pressure on funding costs. Our net interest margin increased 6 basis points over the first quarter of 2024 and we believe net interest margin expansion and expense management will improve earnings on a go forward basis. The Company’s balance sheet, asset quality and capital remain strong, and we have maintained a stable, diversified deposit base and abundant liquidity. During the quarter, the Bank also expanded its presence in southern New Jersey by opening a new branch in the city of Camden.”