Columbia Financial Unveils $597M Northfield Bancorp Merger, Second-Step Conversion Plan for 2026

Kemly said the combined organization would become the third-largest regional bank headquartered in New Jersey, with pro forma total assets of about 18billionandmorethan100branchesacross14NewJerseycounties,plusBrooklynandStatenIsland.HealsosaidthecompanyexpectstoholdtheNo.1depositshareforcommunitybanksintheBrooklynandStatenIslandmarket.Kemlysaidthedealisvaluedatabout18 billion and more than 100 branches across 14 New Jersey counties, plus Brooklyn and Staten Island. He also said the company expects to hold the No. 1 deposit share for community banks in the Brooklyn and Staten Island market.Kemly said the deal is valued at about 597 million, or 0.86x Northfield’s tangible book value. Consideration will be paid in stock or ...