Columbia Financial priced its second-step conversion IPO at $10.00 per share, selling more than 167 million shares to raise approximately $1.67 billion.1 Shares begin trading on Nasdaq on July 21, 2026.1
The offering converts Columbia Bank MHC, previously a mutual holding company, into a fully public stock institution.2 KBW served as lead underwriter, with Broadridge acting as transfer agent for the deal.1
Columbia Financial is closing its acquisition of Northfield Bancorp on July 20, 2026, one day before the Nasdaq debut.3 Northfield shareholders can elect cash at $14.25 per share or a stock exchange ratio of 1.425 Columbia shares.3
Sequencing the acquisition close a day ahead of the IPO ties the two transactions together into a single transformation event.4 The combined capital raise and acquisition expand Columbia's footprint as it converts to full public ownership.2
Pricing the offering at a flat $10.00 per share is standard for mutual-to-stock conversions, which set an initial price at that fixed level, then let the market reprice shares once trading opens on its own. The size of the raise, over 167 million shares sold, gives Columbia a larger capital base to absorb Northfield immediately after the deal closes.5
For investors, the debut offers exposure to a bank that grew through both a public stock offering and a bank acquisition in the same week, an unusual pairing that concentrates integration work and capital deployment into one event. Columbia Bank MHC's conversion also removes the mutual ownership structure that had limited its ability to raise external capital, giving the newly public company more flexibility to fund future growth or additional acquisitions.2
The Nasdaq listing puts Columbia Financial's stock price and trading volume under public market scrutiny starting July 21, 2026, with the Northfield acquisition already reflected in its expanded balance sheet and branch network by then. KBW's role as lead underwriter and Broadridge's role as transfer agent mark the administrative backbone of a deal that reshapes Columbia from a mutual thrift into a publicly traded regional bank holding company.1
Sources:
1 Columbia Financial, Inc. (Maryland Corporation), globenewswire.com, July 16, 2026
2 RBC Capital Markets LLC, nasdaq.com, July 17, 2026
3 Jose C. Gonzalez Navarro, globenewswire.com, July 10, 2026
4 Andria Phiniefs, globenewswire.com, July 08, 2026
5 Columbia Financial, Inc. (Maryland Corporation), finance.yahoo.com, July 07, 2026
