Columbia Financial authorizes seventh stock repurchase program

Columbia Financial, Inc. (NASDAQ: CLBK) announced its board of directors authorized a new stock repurchase program to acquire up to 1,800,000 shares, representing approximately 1.7% of the company's currently outstanding common stock.

The program was adopted after Columbia Financial received a notice of non-objection from the Federal Reserve Bank of Philadelphia. The company operates as the holding company for Columbia Bank.

The repurchase program permits shares to be bought through open market transactions, private transactions, privately negotiated transactions, and pursuant to trading plans adopted under Securities and Exchange Commission Rule 10b5-1.

The program will remain in effect for one year. The timing and actual number of shares repurchased will depend on factors including price, corporate and regulatory requirements, market conditions, and other corporate liquidity requirements and priorities.

Columbia Financial stated the repurchase program does not obligate the company to purchase any particular number of shares and may be suspended or discontinued at any time.

Columbia Bank operates 69 full-service banking offices and provides traditional financial services to consumers and businesses in its market area. The bank is headquartered in Fair Lawn, New Jersey.

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