Columbia Financial, based in Fair Lawn, is taking over Woodbridge-based Northfield Bancorp in a $597 million deal that would create the third largest regional bank headquartered in New Jersey.
The merger, which still requires regulatory approval, would allow Columbia to expand into New York for the first time, tapping into consumer finance markets that Northfield has served in Brooklyn and Staten Island, according to investor materials.
The deal is expected to be completed in the third quarter of 2026.
“Northfield has built an excellent deposit franchise with a conservative credit culture, which makes it an ideal fit with Columbia and provides great opportunities for future growth,” Thomas Kemly, Columbia's chief executive officer, said in a statement.
Read full story here.