Columbia Financial's Acquisition of Northfield Bancorp Boosts Stock by 9%

Columbia Financial's stock rose 9% after announcing the acquisition of Northfield Bancorp for $597 million, creating the third-largest regional bank in New Jersey with $18 billion in assets. The company's Q4 revenue more than tripled to $69 million and net income reached $15.7 million, contrasting with a $21 million loss in the same period last year. The acquisition and improved financials are seen as positive developments for the company.