Parent-only Financial Information (Tables)

12 Months Ended

Dec. 31, 2018

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheet

The condensed financial statements of Columbia Financial, Inc. (parent company) are presented below:

Statements of Financial Condition
	December 31,
	2018		2017
	(In thousands)
Assets
Cash and due from Bank	$	153,697	$	1,537
Short-term investments	136		164
Total cash and cash equivalents	153,833		1,701
Securities available for sale, at fair value	1,420		2,783
Investment in subsidiaries	764,663		516,607
Loan receivable from Bank	44,439		—
Other assets	7,852		3,281
Total assets	$	972,207	$	524,372
Liabilities and Stockholders' Equity
Liabilities:
Borrowings	$	—	$	50,657
Accrued expenses and other liabilities	147		1,645
Total liabilities	147		52,302
Total stockholders' equity	972,060		472,070
Total liabilities and stockholders' equity	$	972,207	$	524,372

Condensed Statement of Comprehensive Income

Statements of Comprehensive Income (Loss)
	Year Ended December 31,			Three Months Ended December 31,			Years Ended September 30,
	2018			2017			2017			2016
	(In thousands)
Income:
Dividend from subsidiary	$	—		$	—		$	2,000		$	3,000
Securities available for sale	123			41			162			157
Interest earnings	2,384			—			1			—
Total income	2,507			41			2,163			3,157
Interest expense on borrowings	3,468			1,044			4,177			4,177
Net interest expense	(961		)	(1,003		)	(2,014		)	(1,020		)
Equity earnings in subsidiary	51,401			4,288			32,230			32,743
Expense:
Loss on securities available for sale	—			60			—			—
Charitable contribution to foundation	34,767			—			—			—
Other non-interest expense	425			2			460			355
Total expense	35,192			62			460			355
Income before income tax benefit	15,248			3,223			29,756			31,368
Income tax benefit	7,488			455			1,316			1,585
Net income	22,736			3,678			31,072			32,953
Other comprehensive (loss) income	(6,487		)	(19,230		)	5,178			(11,287		)
Comprehensive income (loss)	$	16,249		$	(15,552	)	$	36,250		$	21,666

Condensed Cash Flow Statement

Statements of Cash Flows
	Year Ended December 31,			Three Months Ended December 31,			Years Ended September 30,
	2018			2017			2017			2016
	(In thousands)
Cash flows from operating activities:
Net income	$	22,736		$	3,678		$	31,072		$	32,953
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of debt issuance costs	890			14			53			53
Loss on securities available for sale	—			60			—			—
Deferred tax (benefit) expense	(6,086		)	42			1			(2		)
Increase (decrease) in other assets	1,515			(494		)	1,404			(1,600		)
(Decrease) increase in accrued expenses and other liabilities	(1,498		)	989			62			10
Contribution of common stock to Columbia Bank Foundation	34,767			—			—			—
Equity in undistributed earnings of subsidiary	(51,401		)	(4,288		)	(32,295		)	(32,744		)
Net cash provided by (used in) operating activities	923			1			297			(1,330		)
Cash flows from financing activities:
Capital contribution to subsidiary	(246,420		)	—			—			—
Proceeds from sales of securities available for sale	—			92			—			—
Proceeds from call / paydowns of securities available for sale	1,601			10			—			—
Purchases of securities available for sale	(414		)	—			—			—
Loan to ESOP	(45,428		)	—			—			—
Repayment of loans receivable from Bank	989			—			—			—
Net cash (used in) provided by investing activities	(289,672		)	102			—			—
Cash flows from financing activities:
Payment for trust preferred securities	(51,547		)	—
Issuance of common stock	492,428			—
Net cash provided by financing activities	440,881			—			—			—
Net increase (decrease) in cash and cash equivalents	152,132			103			297			(1,330		)
Cash and cash equivalents at beginning of period	1,701			1,598			1,301			2,631
Cash and cash equivalents at end of period	$	153,833		$	1,701		$	1,598		$	1,301