NFBK Q1 net income +49% to $11.8M as margin expands +38bp; merger with Columbia set for Q3

Filed May 11, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 9, 2025 · ~2 min read

Key Changes

• high

  Net income rose 49% YoY to $11.8M ($0.30/share vs $0.19), driven by net interest margin expansion to 2.76% from 2.38% (+38bp) as asset yields rose 19bp and funding costs fell 22bp. Provision for credit losses dropped to $247K from $2.6M on lower charge-offs.

  MD&A: Net Income & NIM verify on EDGAR →
• high

  Definitive merger with Columbia Financial announced Jan 31, 2026; NFBK shareholders to receive 1.425–1.465 shares or $14.25–$14.65 cash per share depending on Columbia's final valuation. Close expected early Q3 2026 pending approvals. Q1 incurred $1.7M ($0.04/share) in non-deductible merger expenses.

  MD&A: Merger Agreement verify on EDGAR →
• medium

  Non-accrual commercial mortgages rose to $11.5M from $5.0M at year-end, driven by one $6.5M loan 90 days past due. Company states loan is well-secured by $13.1M collateral (50% LTV) and in collection. Total NPLs 0.56% of loans vs 0.42% at Dec 31.

  MD&A: Non-Performing Loans verify on EDGAR →