Did Columbia Financial beat earnings in Q4 2025?

Yes. Columbia Financial beat EPS estimates by 15.8% ($0.15 vs $0.13 expected) and revenue by 2.1% ($57.4M vs $56.2M expected), driven by 48 bps net interest margin expansion.

What is Columbia Financial's net interest margin?

Columbia Financial's Q4 2025 net interest margin was 2.36%, up 48 basis points from 1.88% in Q4 2024, benefiting from the 2024 balance sheet repositioning.

How did Columbia Financial's loans grow?

Loans receivable increased $375.1 million, or 4.7%, for the year ended December 31, 2025, with growth in multifamily, commercial real estate, and commercial business loans.

Columbia Financial (CLBK)·Q4 2025 Earnings Summary

Columbia Financial Beats on EPS as NIM Expansion Accelerates

February 2, 2026 · by Fintool AI Agent

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Columbia Financial (NASDAQ: CLBK) reported Q4 2025 results that beat consensus on both earnings and revenue, marking the fourth consecutive quarterly beat as the New Jersey-based bank continues to reap benefits from its 2024 balance sheet repositioning. EPS of $0.15 beat estimates by 15.8%, while net interest margin expanded 48 basis points year-over-year to 2.36%.

Did Columbia Financial Beat Earnings?

Yes — Columbia Financial beat on both EPS and revenue.

Metric	Q4 2025 Actual	Consensus	Surprise
EPS	$0.15	$0.13	+15.8%
Revenue	$57.4M	$56.2M	+2.1%
Net Interest Income	$60.2M	—	+29.7% YoY

Core net income reached $15.9 million in Q4 2025, an increase of 39.6% compared to $11.4 million in Q4 2024. The improvement was primarily driven by:

Higher net interest income (+$13.8M, +29.7% YoY) from both increased interest income and decreased interest expense
Lower provision for credit losses (-$799K, -27.8% YoY) as net charge-offs declined
Non-interest income swing (+$32.3M) due to the prior year including a $34.6M loss from securities transactions

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What's Driving the Margin Expansion?

The headline story for CLBK remains net interest margin (NIM) expansion. Q4 2025 NIM of 2.36% represents a 48 basis point improvement from the 1.88% recorded in Q4 2024.

The NIM improvement stems from two factors:

Balance sheet repositioning in Q4 2024: The company sold lower-yielding securities and prepaid higher-cost borrowings, taking a one-time $37.9M pre-tax loss that continues to benefit earnings
Favorable rate environment: The 75 basis point decrease in market interest rates in late 2025 lowered deposit and borrowing costs faster than asset yields repriced

NIM Component	Q4 2025	Q4 2024	Change
Yield on Interest-Earning Assets	4.77%	4.61%	+16 bps
Cost of Interest-Bearing Liabilities	3.01%	3.38%	-37 bps
Net Interest Margin	2.36%	1.88%	+48 bps

What Did Management Say?

CEO Thomas J. Kemly highlighted the strategic progress:

"We are pleased with the results we achieved in 2025, which reflect our strategies of focusing on margin expansion, improving our asset mix by continuing to expand commercial lending, efficiency improvement through technology and investing in the infrastructure required for sustainable growth."

Management emphasized the company's strong balance sheet and capital position as enablers for continued growth in an improving economic environment.

How Did Loans and Deposits Perform?

Loan growth remained solid with loans receivable increasing $375.1 million, or 4.7%, for the year to $8.2 billion.

Loan Category	Change (2025)	Driver
Multifamily	+$217.0M	Organic growth
Commercial Real Estate	+$173.4M	Organic growth
Commercial Business	+$144.8M	Includes $130.9M equipment finance purchase
One-to-Four Family	-$152.7M	Runoff

Deposits increased $347.9 million, or 4.3%, to $8.4 billion, with the mix shifting toward money market accounts (+$223.3M) and certificates of deposit (+$109.7M).

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What Changed From Last Quarter?

The key delta from Q3 2025 is continued NIM expansion (2.36% vs 2.29%) and improved asset quality metrics:

Metric	Q4 2025	Q3 2025	Q2 2025	Q1 2025
Net Interest Margin	2.36%	2.29%	2.19%	2.11%
Core ROA	0.57%	0.56%	0.47%	0.35%
Efficiency Ratio	68.42%	67.04%	70.30%	74.57%
Net Charge-offs/Avg Loans	0.03%	0.04%	0.04%	0.04%

Are There Any Red Flags?

Non-performing loans increased to $38.0 million (0.46% of gross loans) from $21.7 million (0.28%) at year-end 2024 — an increase of $16.3 million.

The increase was driven by:

One $5.9M construction loan (mixed-use building) designated non-performing
Increase in non-performing commercial business loans (11 to 35 loans YoY)
Higher non-performing commercial real estate loans (4 to 9 loans YoY)

However, the allowance for credit losses coverage ratio remains healthy at 176.84% of non-performing loans, and net charge-offs declined to $534K from $1.4M in Q4 2024.

How Did the Stock React?

The earnings were released after market close on February 2, 2026. Prior to the release, CLBK shares closed at $16.27.

Stock Metrics	Value
Pre-Earnings Close	$16.27
52-Week High	$19.40
52-Week Low	$13.07
Market Cap	$1.7B
Book Value/Share	$11.16
Tangible Book/Share	$10.03

The stock trades at approximately 1.46x book value and 1.62x tangible book value.

Capital Position

Columbia Financial maintained strong capital ratios:

Capital Ratio	Q4 2025	Q4 2024	Requirement
Total Capital	14.92%	14.20%	8.00%
Tier 1 Capital	14.03%	13.40%	6.00%
CET1	13.94%	13.31%	4.50%
Leverage Ratio	10.27%	10.02%	4.00%

The company repurchased 873,304 shares at approximately $15.29 per share ($13.4 million total) during 2025.

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Key Takeaways

Beat consensus on both EPS (+15.8%) and revenue (+2.1%) — fourth consecutive quarterly beat
NIM expansion continues — 2.36% in Q4 (+48 bps YoY), benefiting from 2024 balance sheet repositioning
Loan growth solid — +4.7% YoY driven by commercial lending expansion
Credit quality mixed — NPLs increased but charge-offs declined; coverage remains healthy
Capital deployment — $13.4M in buybacks; strong capital ratios well above requirements

Data sourced from Columbia Financial Q4 2025 8-K filing dated February 2, 2026.