 FAIR LAWN, N.J., Jan. 27, 2021 GLOBE NEWSWIRE -- Columbia Financial, Inc. the Company NASDAQ: CLBK, the mid-tier holding company for Columbia Bank the Bank, reported net income of 20.7 million, or 0.19 per basic and diluted share, for the quarter ended December 31, 2020, as compared to net income of 13.5 million, or 0.12 per basic and diluted share, for the quarter ended December 31, 2019. Earnings for the quarter ended December 31, 2020 reflected higher net interest income, non-interest income, and lower provision for loan losses, partially offset by higher non-interest expense and income tax expense. The increase in net interest income for the quarter ended December 31, 2020 was primarily due to a decrease in interest expense of 9.8 million, or 41.4. During the quarter ended December 31, 2020, the reduction of the cost of funds on deposits coupled with a lower average borrowings balance contributed to the reduction in interest expense. During the quarter ended December 31, 2020, 149.6 million of Federal Home Loan Bank of New York FHLB borrowings which were prepaid, and accounted for as early extinguishments of debt, resulted in a loss of 1.2 million included in non-interest expense. 