Key Highlights

  • Consensus EPS of 0.15 compares with second-quarter diluted EPS of 0.14, against 0.12 a year earlier.
  • Consensus revenue of USD 129.93 million compares with interest and dividend income of USD 122,251 thousand, with the basis unstated.
  • Net interest income was USD 62,918 thousand against USD 53,703 thousand, and the net interest margin was 2.44%.
  • Net income was USD 14,486 thousand against USD 12,305 thousand, and the provision was USD 4,312 thousand.

Columbia Financial (NASDAQ:CLBK) reports third-quarter results on Wednesday, Oct. 28, with the timing not given in the estimates table. Consensus stands at EPS of 0.15 on revenue of USD 129.93 million, and the company has a market capitalization of USD 2.94 billion.

Columbia Financial is a bank holding company. Second-quarter net interest income was USD 62,918 thousand against USD 53,703 thousand, and net income was USD 14,486 thousand against USD 12,305 thousand.

Estimates Against the Last Reported Quarter

The EPS estimate of 0.15 is above the second-quarter diluted EPS of 0.14, which compared with 0.12 a year earlier. The estimates table does not state its EPS basis. The revenue estimate of USD 129.93 million is above interest and dividend income of USD 122,251 thousand, and the estimates table does not state its revenue basis.

Interest and dividend income was USD 122,251 thousand against USD 116,491 thousand. Basic EPS was 0.14 against 0.12.

What the Filing Gives and What the Sources Leave Open

The sources supplied include no earnings call transcript or published guidance, so there are no management ranges to set against the estimates. The filing carries no figures for the quarter the estimates cover.

The filing states that total interest expense was USD 59.3 million, a decrease of USD 3.5 million, or 5.5%, primarily attributable to a 27 basis point decrease in the average cost of interest-bearing deposits. It states that the net interest margin increased 25 basis points to 2.44% from 2.19%.

Provision, Noninterest Expense and Pretax Lines

The provision for credit losses was USD 4,312 thousand against USD 2,468 thousand, and noninterest income was USD 10,830 thousand against USD 10,173 thousand. Noninterest expense was USD 49,417 thousand against USD 44,906 thousand.

Income before income taxes was USD 20,019 thousand against USD 16,502 thousand. The weighted average yield on interest-earning assets decreased 1 basis point to 4.74% from 4.75%.

Loans, Deposits and Balance Sheet Size

Loans receivable were USD 8,493,610 thousand against USD 8,292,010 thousand, and the allowance for credit losses was USD 71,065 thousand against USD 67,201 thousand. Total deposits were USD 9,502,065 thousand against USD 8,444,079 thousand.

Certificates of deposit were USD 3,055,173 thousand against USD 2,852,337 thousand, and borrowings were USD 1,218,452 thousand. Total assets were USD 12,173,205 thousand against USD 11,018,793 thousand. Net interest income was USD 62,918 thousand against USD 53,703 thousand, and net income was USD 14,486 thousand against USD 12,305 thousand. Diluted EPS was 0.14 against 0.12, and interest and dividend income was USD 122,251 thousand. The estimates table lists a market capitalization of USD 2.94 billion.

Comparisons to Make in the Report

Reported EPS against 0.15 and revenue against USD 129.93 million are the headline comparisons. Other markers are net interest margin, the credit provision and noninterest expense.