Federal Reserve approves Columbia conversion and Northfield acquisition
→Columbia and Northfield deal teams must close only within the holding-company structure approved by the Federal Reserve
Change
On May 8, 2026, the Federal Reserve Board approved Columbia Bank MHC?s conversion from mutual to stock form, Columbia Financial, Inc.?s acquisition of Columbia Bank, and Columbia Financial?s related acquisition of Northfield Bancorp, Inc.
Why it matters
The approval defines the permitted control chain for the conversion and acquisition. Closing outside the approved structure would fall outside the Federal Reserve Board order and the related Bank Holding Company Act approvals.
Implications
- → Columbia Bank MHC and Columbia Financial transaction teams must execute the conversion and acquisition through the structure approved in FRB Order No. 2026-14 ? a different control chain would not be covered by the order.
- → Columbia Financial and Northfield Bancorp integration teams must align governance, merger, and regulatory filings with the approved acquisition path ? closing steps outside the approved path would miss the Board-approval condition.
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Source
View on Federal Reserve