Columbia Financial to Acquire Northfield Bancorp in $597M Deal, Creating Third-Largest Regional Bank in NJ

Columbia Financial is acquiring Northfield Bancorp in a $597 million deal to create the third-largest regional bank in New Jersey. The combined bank will have $18 billion in assets and extend Columbia's footprint into New York City for the first time. Columbia will convert to a public company through a plan in which shares will be sold at $10 per share, and the deal is expected to be 50% accretive to Columbia's 2027 earnings per share.