Columbia Financial reports Q3 EPS 9c, consensus 7c

Reports Q3 net income of $9.1M was recorded for the quarter ended September 30, 2023, a decrease of $11.8M or 56.4%, compared to net income of $20.9 M for the quarter ended September 30, 2022. The decrease in net income was primarily attributable to a $20.6M decrease in net interest income, and an $863,000 increase in provision for credit losses, partially offset by a $4.9M decrease in non-interest expense and a $4.3M decrease in income tax expense. Net interest income was $48.5 million for the quarter ended September 30 , a decrease of $20.6 million, or 29.8%, from $69.2 million for the quarter ended September 30, 2022.