$NFBK So, those who received shares at $10 as account holders have now more than doubled their investment? A $100K investment would be worth around $210K now?
The Federal Reserve approved Columbia Bank MHC and Columbia Financial, Inc. (both Fair Lawn, New Jersey) to convert from a mutual structure to a stock holding company and proceed with the acquisition of Northfield Bancorp, Inc.
The transaction allows Columbia Financial to become a savings and loan holding company by acquiring Columbia Bank and to also acquire Northfield Bancorp of Woodbridge, New Jersey, indirectly acquiring Northfield Bank of Staten Island, New York. After completion, Northfield Bancorp would merge into Columbia Financial, and Northfield Bank into Columbia Bank.
Columbia Bank MHC holds about $11B in assets and $8.5B in deposits (under 1% of U.S. insured deposits). Northfield Bancorp holds about $5.8B in assets and $4B in deposits. The combined institution would rank as the 110th largest insured depository organization in the U.S. with roughly $18.1B in assets.
$CLBK $NFBK
$NFBK is a community bank (Northfield Bancorp) in the Northeast; it faces the industry-wide challenges of net interest margin compression and slower loan growth.
$CLBK , $NFBK ... Columbia Financial plans to buy Northfield Bancorp for about $597M. The deal would create New Jersey’s third-largest regional bank with $18B in assets.
