Columbia Financial, Inc. Provides Update On Minority Stock Offering

FAIR LAWN, N.J., March 19, 2018 /PRNewswire/ -- Columbia Financial, Inc. ("Columbia Financial" or the "Company"), the holding company for Columbia Bank, announced that the Company concluded its previously announced subscription offering of common stock on March 15, 2018.  The offering was well received by Columbia Bank's eligible depositors, borrowers and employee benefit plans and, accordingly, no community or public offering will be held.

The completion of the offering remains subject to the receipt of final regulatory approvals and the satisfaction of customary closing conditions.  In addition, the Company's proposed contribution of shares of common stock to the Columbia Bank Foundation in connection with the offering remains subject to the approval of Columbia Bank MHC's members (depositors and certain borrowers of Columbia Bank) at a special meeting being held on Thursday, April 5, 2018.   

The Company is currently processing the orders received.  Upon completion of that process and receipt of all required approvals, Columbia Financial will issue a press release regarding the final offering results, anticipated closing and trading dates and information regarding stock allocations.  No further information about the offering or the status of any stock order will be available until that time.    

About Columbia Financial

Headquartered in Fair Lawn, New Jersey, Columbia Financial, Inc. is the holding company for Columbia Bank.  Columbia Bank operates 48 full-service offices throughout New Jersey and offers a wide range of consumer and commercial products, including online and mobile banking, localized lending centers as well as title, investment and wealth management services.  At December 31, 2017, Columbia Financial had total assets of $5.8 billion, deposits of $4.3 billion and stockholder's equity of $472 million.

Important Information

A registration statement relating to the securities of Columbia Financial, Inc. has been filed with the United States Securities and Exchange Commission.  This press release is neither an offer to sell nor a solicitation of an offer to buy common stock.  The shares of common stock of Columbia Financial are not savings accounts or savings deposits, may lose value and are not insured by the Federal Deposit Insurance Corporation or any other government agency.

This press release contains certain forward-looking statements about the offering and the transactions contemplated by Columbia Financial's Plan of Stock Issuance (the "Plan").  Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts.  They often include words such as "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could," or "may."  Forward-looking statements, by their nature, are subject to risks and uncertainties.  Certain factors that could cause actual results to differ materially from expected results include delays in receipt of final regulatory approvals or consummation of the transactions contemplated by the Plan, changes in general economic conditions or conditions within the securities markets, legislative and regulatory changes that could adversely affect the business in which Columbia Financial is engaged and other risks that are described in the prospectus of Columbia Financial.  Undue reliance should not be placed on any forward-looking statement, which speaks only as of the date made. Neither Columbia Financial nor Columbia Bank undertakes any obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.

SOURCE Columbia Financial, Inc.