Reports Q3 net income of $9.1M was recorded for the quarter ended September 30, 2023, a decrease of $11.8M or 56.4%, compared to net income of $20.9 M for the quarter ended September 30, 2022. The decrease in net income was primarily attributable to a $20.6M decrease in net interest income, and an $863,000 increase in provision for credit losses, partially offset by a $4.9M decrease in non-interest expense and a $4.3M decrease in income tax expense. Net interest income was $48.5 million for the quarter ended September 30 , a decrease of $20.6 million, or 29.8%, from $69.2 million for the quarter ended September 30, 2022.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CLBK:
- Columbia Financial, Inc. Announces Financial Results for the Third Quarter Ended September 30, 2023
- Janney starts Columbia Financial at Buy, sees balance sheet optionality
- Columbia Financial initiated with a Buy at Janney Montgomery Scott
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue