Columbia Financial to Buy Northfield Bancorp for $597 Million

Dow Jones
02/02
 

By Colin Kellaher

 

Columbia Financial has struck a deal to buy fellow New Jersey bank holding company Northfield Bancorp for about $597 million in cash and stock.

Columbia, based in Fair Lawn, on Monday said the acquisition of Woodbridge-based Northfield will create the third-largest regional bank headquartered in New Jersey, with total assets of roughly $18 billion.

Columbia said it will issue between 1.425 shares and 1.465 shares, or between $14.25 and $14.65 in cash, for each share of Northfield, with the final consideration to be based on an independent appraisal of the combined company following a planned conversion and reorganization of Columbia and its majority owner, Columbia Bank MHC into a fully public stock holding company.

The deal is slated to close early in the third quarter.

Trading in shares of Northfield, which closed Friday at $12.32, was halted premarket on Monday.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

February 02, 2026 08:09 ET (13:09 GMT)

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