Columbia Financial, Inc. (NASDAQ: CLBK) announced that its subscription offering, which expired June 16, 2026, received over 5,000 orders representing approximately $925 million in connection with the second-step conversion of Columbia Bank MHC from mutual to stock form.

The company also announced increases to the maximum purchase limits in the stock offering. The maximum individual purchase limit was raised from 300,000 shares ($3.0 million) to 800,000 shares ($8.0 million), and the maximum group purchase limit was raised from 1,000,000 shares ($10.0 million) to 5,000,000 shares ($50.0 million).

Only subscribers who ordered the maximum number of shares in the subscription offering will be resolicited and given the opportunity to order additional shares up to the new limits. Completed supplemental stock order forms with full payment must be received by 2:00 p.m. Eastern time on June 30, 2026. All other eligible subscribers who submitted valid orders will have their orders filled in full.

Columbia Financial does not intend to conduct a community offering. Shares not subscribed for in the subscription offering will be offered at $10.00 per share through a firm commitment underwritten offering. Keefe, Bruyette & Woods, Inc., a Stifel Company, will serve as lead-left book running manager, Piper Sandler & Co. as co-book running manager, and Brean Capital, LLC as co-manager.

Completion of the offering is subject to stockholder and member approval of the conversion plan, receipt of required regulatory approvals, and the sale of at least 142,375,000 shares of common stock. That total includes up to 61,390,681 shares that may be issued as merger consideration to stockholders of Northfield Bancorp, Inc.