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Columbia Financial, Inc. (NASDAQ:CLBK), a regional bank with a market capitalization of $1.58 billion, reported that Matthew Smith, Senior Executive Vice President and Chief Operating Officer of the company and its subsidiary, Columbia Bank, will leave his position effective October 5, 2025. The company and Mr. Smith mutually agreed on the last day of his employment, according to a statement released in a filing with the Securities and Exchange Commission. InvestingPro data shows the bank currently trades at a P/E ratio of 249, suggesting a premium valuation compared to peers.
Mr. Smith has served as both Senior Executive Vice President and Chief Operating Officer for Columbia Financial and Columbia Bank. The company did not provide further details regarding the reasons for his departure or plans for his replacement in the filing. According to InvestingPro analysis, the company’s net income is expected to grow this year, with two analysts recently revising their earnings expectations upward. Subscribers can access 5 additional exclusive ProTips about CLBK’s financial outlook.
Columbia Financial, based in Fair Lawn, New Jersey, is the parent holding company of Columbia Bank and is incorporated in Delaware. The company’s common stock is listed on the Nasdaq Stock Market under the ticker symbol CLBK.
This article is based on a press release statement included in a recent SEC filing.
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