Northfield Bancorp (NASDAQ:NFBK) announced Monday that it has entered into a definitive agreement to be acquired by Columbia Financial, Inc. (NASDAQ:CLBK) in a transaction valued at approximately $597 million.
The deal, which will create the third-largest regional bank headquartered in New Jersey, was unveiled alongside Northfield's fourth-quarter 2025 results, which were characterized by a one-time non-cash charge.
The Woodbridge, New Jersey-based holding company reported a fourth-quarter net loss of $27.4 million, or $0.69 per share.
The results were primarily impacted by a $41 million goodwill impairment charge.
Excluding this asset impairment, adjusted earnings stood at $0.34 per share, while total revenue for the period reached $68.3 million.
For the full year 2025, Northfield reported a modest profit of $796,000, or $0.02 per share, on total revenue of $154.3 million.