Exhibit

Fair Lawn, New Jersey (January 31, 2019): Columbia Financial, Inc. (the “Company”) (NASDAQ: CLBK) reported net income of $14.9 million, or $0.13 per basic and diluted share, for the quarter ended December 31, 2018, compared to net income of $3.7 million for the quarter ended December 31, 2017. The December 31, 2018 quarterly earnings reflects higher net interest income driven primarily by growth within the residential and commercial loan portfolios and a decrease in income tax expense. The December 31, 2017 quarterly earnings includes the impact from the revaluation of our gross deferred tax assets and liabilities as a result of the enactment of the Tax Cut and Jobs Act in December 2017, which decreased the federal corporate tax rate.

For the year ended December 31, 2018, the Company reported net income of $22.7 million, or $0.20 per basic and diluted share, compared to net income of $24.8 million for the year ended December 31, 2017. The decrease in earnings year over year is primarily driven by the $34.8 million one-time expense related to the contribution of shares of the Company's common stock to the Columbia Bank Foundation in April 2018 in connection with the completion of the Company's minority stock offering. Excluding this charitable contribution and other non-core items, core net income would have been $50.1 million for the year ended December 31, 2018, an increase of $20.9 million, or 71.7% as compared to core net income for the same period in 2017.

Mr. Thomas J. Kemly, President and Chief Executive Officer commented: "Our fourth quarter results demonstrate strong core earnings and fee income growth over prior periods and reflect the efforts of management to grow in this challenging interest rate environment. We continue to stay focused on providing superior products and services as we enter new markets and bolstering existing customer relationships in order to generate long-term shareholder value. I'm also proud that the Columbia Bank Foundation has been able to help 384 charities and communities throughout the markets we serve. Our overall charitable giving through the foundation reached record levels in 2018 and we remain committed to continuing our charitable giving efforts in 2019."

Net income of $14.9 million was recorded for the quarter ended December 31, 2018, compared to net income of $3.7 million for the quarter ended December 31, 2017. The increase of $11.2 million was primarily attributable to a $6.4 million increase in net interest income and the lower income tax expense, since the 2017 period included a $4.7 million charge due to the revaluation of deferred tax assets and liabilities as noted above. In addition, the provision for loan losses decreased $2.6 million, primarily as a result of improvements in credit metrics.

Net interest income was $43.4 million for the quarter ended December 31, 2018, an increase of $6.4 million, or 17.5%, from $36.9 million for the quarter ended December 31, 2017. The increase in net interest income was attributable to a $12.6 million increase in interest and dividend income, which was partially offset by a $6.2 million increase in interest expense. The increase in interest and dividend income for the quarter ended December 31, 2018 was largely due to an increase in the average balances of loans and securities.

The Company's net interest margin for the quarter ended December 31, 2018 decreased five basis points to 2.74% when compared to 2.79% for the quarter ended December 31, 2017. The weighted average yield on interest-earning assets increased 20 basis points to 3.91% for the quarter ended December 31, 2018 compared with 3.71% for the quarter ended December 31, 2017. The average cost of interest bearing liabilities increased 39 basis points to 1.52% for the quarter ended December 31, 2018 as compared to 1.13% for the quarter ended December 31, 2017.

The provision for loan losses was $777 thousand for the quarter ended December 31, 2018, a decrease of approximately $2.6 million from $3.4 million for the quarter ended December 31, 2017. The decrease was primarily driven by a decline in non-performing loans and improvements in credit metrics. A portion of the decline in non-performing loans resulted from the sale of $1.7 million of one-to-four family and fixed rate home equity loans during the quarter ended December 31, 2018.

Non-interest income was $6.4 million for the quarter ended December 31, 2018, an increase of $1.7 million or 35.3% from $4.7 million for the quarter ended December 31, 2017. Gain on sale of loans totaled $602 thousand for the quarter ended December 31, 2018 as compared to no gains being recorded in the 2017 period. Income from loan fees increased $417 thousand primarily related to swap fee income while income from bank-owned life insurance increased $253 thousand as a result of an additional $30.0 million purchase made in the third quarter of 2018.

For the year ended December 31, 2018, net income decreased $2.0 million to $22.7 million, compared to net income of $24.8 million for the year ended December 31, 2017. The decrease was primarily attributable to the previously noted $34.8 million contribution of the Company's common stock to the Columbia Bank Foundation in April of 2018. Excluding this contribution and other non-core items, core net income would have been $50.1 million for the year ended December 31, 2018 as compared to $29.2 million for the year ended December 31, 2017.

Net interest income was $164.0 million for the year ended December 31, 2018, an increase of $20.7 million, or 14.5% from $143.3 million for the year ended December 31, 2017. The increase in net interest income was attributable to a $37.0 million increase in interest and dividend income which was partially offset by a $16.3 million increase in interest expense. The increase in interest and dividend income for the year ended December 31, 2018 was largely due to an increase in average loans and securities balances.

The Company's net interest margin for the year ended December 31, 2018 decreased eight basis points to 2.74% compared with 2.82% for the year ended December 31, 2017. The weighted average yield on interest-earning assets increased five basis points to 3.77% for the year ended December 31, 2018 compared with 3.72% for the year ended December 31, 2017. The average cost of interest bearing-liabilities increased 22 basis points to 1.32% for the year ended December 31, 2018 compared with 1.10% for the year ended December 31, 2017.

For the year ended December 31, 2018, interest expense on deposits was $39.5 million, an increase of $12.5 million or 46.4% from $27.0 million for the year ended December 31, 2017, driven by a $337.1 million increase in the average balance of total interest-bearing deposits coupled with a 26 basis point increase in the cost of deposits. Average borrowings increased by $203.0 million while the average cost of borrowings decreased by 15 basis points.

For the year ended December 31, 2018 the provision for loan losses was $6.7 million, a decrease of $3.1 million from $9.8 million for the year ended December 31, 2017. The decrease was attributable to a continued decline in non-performing loans and improvements in credit metrics. Contributing to the decline in non-performing loans was the sale of $1.7 million of one-to-four family and fixed rate home equity loans as previously discussed.

Non-interest income was $21.7 million for the year ended December 31, 2018, an increase of $4.9 million, or 29.0% from $16.8 million for the year ended December 31, 2017. During 2017, we had $2.2 million of losses recorded on the sale of securities and net losses of $788 thousand recorded on the sale of loans. In 2018, $116 thousand of gains were recorded on the sale of securities and $618 thousand of gains were recorded on the sale of loans in the secondary market. The Company continues to designate loans to be sold in the secondary market and classifies these loans as held-for-sale in the consolidated statement of financial condition.

For the year ended December 31, 2018 non-interest expense was $145.4 million, an increase of $40.0 million, or 37.9%, from $105.4 million for the year ended December 31, 2017. The increase was driven primarily by the above noted $34.8 million contribution of the Company's common stock to the Columbia Bank Foundation. In addition, compensation and employee benefit expenses increased $6.3 million as a result of Columbia Bank's newly created employee stock ownership plan, the addition of staff and other performance-based compensation.

Loans receivable, net increased $516.4 million to $4.9 billion at December 31, 2018 from $4.4 billion at December 31, 2017. One-to-four family, multifamily and commercial real estate, construction loans and commercial business loans contributed to the growth by $215.2 million, $271.7 million, $27.8 million and $55.9 million, respectively. Home equity loans and advances declined $54.4 million between December 31, 2018 and December 31, 2017. At December 31, 2018, the Company had $8.1 million of one-to-four family loans in the held-for-sale portfolio carried at fair value.

Total liabilities increased $425.1 million, or 8.0%, to $5.7 billion at December 31, 2018 from $5.3 billion at December 31, 2017. The increase is primarily attributable to an increase in borrowings of $260.1 million and total deposits of $150.6 million. In August 2018, the Company redeemed, in full, $51.5 million of junior subordinated debt securities. The increase in total deposits is primarily attributed to higher certificate of deposit and non interest bearing transaction account balances.

The Company's total non-performing loans at December 31, 2018 totaled $2.8 million, or 0.06% of total loans receivable, as compared to $6.5 million, or 0.15% of total loans receivable, at December 31, 2017. The Company held $92 thousand in foreclosed assets at December 31, 2018 compared to $959 thousand at December 31, 2017. Non-performing assets as a percentage of total assets totaled 0.04% at December 31, 2018 as compared to 0.13% at December 31, 2017.

The consolidated financial results include the accounts of Columbia Financial, Inc. its wholly-owned subsidiary Columbia Bank (the "Bank") and the Bank's wholly-owned subsidiaries. Columbia Financial, Inc. is a Delaware corporation organized as Columbia Bank's mid-tier stock holding company. Columbia Financial, Inc. is a majority-owned subsidiary of Columbia Bank, MHC. Columbia Bank is a federally chartered savings bank headquartered in Fair Lawn, New Jersey. The Bank offers traditional financial services to consumers and businesses in our market areas. We currently operate 49 full-services banking offices.

Certain statements herein constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as “believes,” “will,” “would,” “expects,” “projects,” “may,” “could,” “developments,” “strategic,” “launching,” “opportunities,” “anticipates,” “estimates,” “intends,” “plans,” “targets” and similar expressions. These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to, adverse conditions in the capital and debt markets and the impact of such conditions on the Company’s business activities; changes in interest rates; competitive pressures from other financial institutions; the effects of general economic conditions on a national basis or in the local markets in which the Company operates, including changes that adversely affect borrowers’ ability to service and repay the Company’s loans; changes in the value of securities in the Company’s investment portfolio; changes in loan default and charge-off rates; fluctuations in real estate values; the adequacy of loan loss reserves; decreases in deposit levels necessitating increased borrowing to fund loans and investments; legislative changes and changes in government

regulation; changes in accounting standards and practices; the risk that goodwill and intangibles recorded in the Company’s financial statements will become impaired; demand for loans in the Company’s market area; the Company’s ability to attract and maintain deposits; risks related to the implementation of acquisitions, dispositions, and restructurings; the risk that the Company may not be successful in the implementation of its business strategy or its deployment of the proceeds raised in its minority public offering; and changes in assumptions used in making such forward-looking statements and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website, www.sec.gov. Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, Columbia Financial, Inc.’s actual results could differ materially from those discussed. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company disclaims any obligation to publicly update or revise any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes, except as required by law.

Reported amounts are presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"). This press release also contains certain supplemental non-GAAP information that the Company’s management uses in its analysis of the Company’s financial results. Specifically, the Company provides measures based on what it believes are its operating earnings on a consistent basis, and excludes material non-routine operating items which affect the GAAP reporting of results of operations. The Company’s management believes that providing this information to analysts and investors allows them to better understand and evaluate the Company’s core financial results for the periods in question.



	December 31,
	2018		2017
Assets
Cash and due from banks	$	42,065	$	65,334
Short-term investments	136		164
Total cash and cash equivalents	42,201		65,498

Securities available for sale, at fair value	1,034,758		710,570
Securities held to maturity, at amortized cost (fair value of $244,239 and $236,125 at December 31, 2018 and December 31, 2017, respectively)	262,143		239,618
Federal Home Loan Bank stock	58,938		44,664
Loans held-for-sale, at fair value	8,081		—

Loans receivable	4,979,182		4,458,648
Less: allowance for loan losses	62,342		58,178
Loans receivable, net	4,916,840		4,400,470

Accrued interest receivable	18,894		15,915
Real estate owned	92		959
Office properties and equipment, net	52,050		42,620
Bank-owned life insurance	184,488		150,521
Goodwill and intangible assets	6,085		5,997
Other assets	107,048		89,668
Total assets	$	6,691,618	$	5,766,500

Liabilities and Stockholders' Equity
Liabilities:
Deposits	$	4,413,873	$	4,263,315
Borrowings	1,189,180		929,057
Advance payments by borrowers for taxes and insurance	32,030		25,563
Accrued expenses and other liabilities	84,475		76,495
Total liabilities	5,719,558		5,294,430

Stockholders' equity:
Total stockholders' equity	972,060		472,070
Total liabilities and stockholders' equity	$	6,691,618	$	5,766,500



	Three Months Ended December 31,						Year Ended December 31,
	2018			2017			2018			2017
Interest and dividend income:
Loans receivable	$	51,580		$	43,043		$	189,869		$	168,523
Securities available for sale	7,351			5,074			25,338			17,931
Securities held to maturity	1,895			382			7,147			450
Federal funds and interest earning deposits	59			103			1,175			377
Federal Home Loan Bank stock dividends	900			567			2,761			1,993
Total interest and dividend income	61,785			49,169			226,290			189,274
Interest expense:
Deposits	11,810			7,631			39,523			26,999
Borrowings	6,600			4,609			22,733			18,966
Total interest expense	18,410			12,240			62,256			45,965

Net interest income	43,375			36,929			164,034			143,309

Provision for loan losses	777			3,400			6,677			9,826

Net interest income after provision for loan losses	42,598			33,529			157,357			133,483

Non-interest income:
Demand deposit account fees	1,067			960			3,987			3,778
Bank-owned life insurance	1,342			1,089			5,208			4,938
Title insurance fees	1,079			1,017			4,297			3,844
Loan fees and service charges	982			565			2,519			2,143
(Loss) Gain on securities transactions, net	—			(60		)	116			(2,159		)
Gain (Loss) on sale of loans	602			—			618			(788		)
(Loss) Gain on sale of real estate owned	(11		)	—			(56		)	245
Other non-interest income	1,344			1,162			4,999			4,817
Total non-interest income	6,405			4,733			21,688			16,818

Non-interest expense:
Compensation and employee benefits	19,978			15,624			69,907			63,605
Occupancy	3,784			3,382			14,547			13,475
Federal deposit insurance premiums	489			414			1,893			1,654
Advertising	995			1,408			4,137			4,775
Professional fees	478			398			1,432			1,533
Data processing	656			595			2,600			2,309
Charitable contribution to foundation	—			—			34,767			3,509
Other non-interest expense	4,633			3,780			16,103			14,561
Total non-interest expense	31,013			25,601			145,386			105,421

Income before income tax expense	17,990			12,661			33,659			44,880

Income tax expense	3,123			8,983			10,923			20,123

Net income	$	14,867		$	3,678		$	22,736		$	24,757
Basic and diluted earnings per share	$	0.13		N/A			$	0.20		N/A
Weighted average shares outstanding	111,423,361			N/A			111,395,723			N/A



	For the Three Months Ended
	December 31, 2018							December 31, 2017
	Average Balance			Interest and Dividends		Yield / Cost		Average Balance			Interest and Dividends		Yield / Cost
	(In thousands)							(In thousands)
Interest-earnings assets:
Loans	$	4,935,812		$	51,580	4.15	%	$	4,365,207		$	43,043	3.91	%
Securities	1,273,348			9,246		2.88	%	819,770			5,456		2.64	%
Other interest-earning assets	63,821			959		5.96	%	66,715			670		3.99	%
Total interest-earning assets	6,272,981			61,785		3.91	%	5,251,692			49,169		3.71	%
Non-interest-earning assets	339,118							288,532
Total assets	$	6,612,099						$	5,540,224

Interest-bearing liabilities:
Interest-bearing demand	$	1,251,211		$	3,098	0.98	%	$	1,350,939		$	2,312	0.68	%
Money market accounts	270,981			449		0.66	%	271,638			196		0.29	%
Savings and club deposits	510,543			201		0.16	%	543,269			210		0.15	%
Certificates of deposit	1,662,619			8,062		1.92	%	1,389,306			4,913		1.40	%
Total interest-bearing deposits	3,695,354			11,810		1.27	%	3,555,152			7,631		0.85	%
FHLB advances	1,122,047			6,600		2.33	%	659,353			3,362		2.02	%
Junior subordinated debt	—			—		—	%	50,648			1,044		8.18	%
Other borrowings	—			—		—	%	21,957			203		3.67	%
Total borrowings	1,122,047			6,600		2.33	%	731,958			4,609		2.50	%
Total interest-bearing liabilities	4,817,401			$	18,410	1.52	%	4,287,110			$	12,240	1.13	%

Non-interest-bearing liabilities:
Non-interest-bearing deposits	727,308							673,093
Other non-interest-bearing liabilities	112,437							94,276
Total liabilities	5,657,146							5,054,479
Total equity	954,953							485,745
Total liabilities and equity	$	6,612,099						$	5,540,224

Net interest income				$	43,375						$	36,929
Interest rate spread						2.39	%						2.58	%
Net interest-earning assets	$	1,455,580						$	964,582
Net interest margin						2.74	%						2.79	%
Ratio of interest-earning assets to interest-bearing liabilities	130.22		%					122.50		%



	For the Year Ended
	December 31, 2018							December 31, 2017
	Average Balance			Interest and Dividends		Yield / Cost		Average Balance		Interest and Dividends		Yield / Cost
	(In thousands)							(In thousands)
Interest-earnings assets:
Loans	$	4,711,915		$	189,869	4.03	%	$	4,312,887	$	168,523	3.91	%
Securities	1,171,617			32,485		2.77	%	707,427		18,381		2.60	%
Other interest-earning assets	111,218			3,936		3.54	%	67,578		2,370		3.51	%
Total interest-earning assets	5,994,750			$	226,290	3.77	%	5,087,892		$	189,274	3.72	%
Non-interest-earning assets	324,499							266,061
Total assets	$	6,319,249						$	5,353,953

Interest-bearing liabilities:
Interest-bearing demand	$	1,323,766		$	11,395	0.86	%	$	1,305,412	$	8,048	0.62	%
Money market accounts	299,389			1,538		0.51	%	272,230		770		0.28	%
Savings and club deposits	628,746			993		0.16	%	545,640		841		0.15	%
Certificates of deposit	1,514,843			25,597		1.69	%	1,306,365		17,340		1.33	%
Total interest-bearing deposits	3,766,744			39,523		1.05	%	3,429,647		26,999		0.79	%
FHLB advances	912,032			19,263		2.11	%	654,561		13,408		2.05	%
Junior subordinated debt	31,422			3,467		11.03	%	50,628		4,177		8.25	%
Other borrowings	222			3		1.35	%	35,452		1,381		3.90	%
Total borrowings	943,676			22,733		2.41	%	740,641		18,966		2.56	%
Total interest-bearing liabilities	4,710,420			$	62,256	1.32	%	4,170,288		$	45,965	1.10	%

Non-interest-bearing liabilities:
Non-interest-bearing deposits	704,155							627,999
Other non-interest-bearing liabilities	112,785							94,754
Total liabilities	5,527,360							4,893,041
Total equity	791,889							460,912
Total liabilities and equity	$	6,319,249						$	5,353,953

Net interest income				$	164,034					$	143,309
Interest rate spread						2.45	%					2.62	%
Net interest-earning assets	$	1,284,330						$	917,604
Net interest margin						2.74	%					2.82	%
Ratio of interest-earning assets to interest-bearing liabilities	127.27		%					122.00%



	Average Yields/Costs by Quarter
	December 31, 2018		September 30, 2018	June 30, 2018	March 31, 2018	December 31, 2017
Yield on interest earning assets:
Loans	4.15	%	4.01	3.98	3.96	3.91	%
Investment securities	2.88	%	2.75	2.70	2.74	2.64	%
Other interest-earning assets	5.96	%	4.45	2.99	2.77	3.99	%
Total interest-earning assets	3.91	%	3.76	3.70	3.71	3.71	%

Cost of interest bearing liabilities:
Total interest-bearing deposits	1.27	%	1.16	0.94	0.85	0.85	%
Total borrowings	2.33	%	2.52	2.59	2.22	2.50	%
Total interest-earning liabilities	1.52	%	1.47	1.20	1.09	1.13	%

Interest rate spread	2.39	%	2.29	2.50	2.62	2.58	%
Net interest margin	2.74	%	2.65	2.76	2.80	2.79	%

Ratio of interest-earning assets to interest bearing liabilities	130.22	%	131.35	127.44	119.93	122.50	%




	For the Three Months Ended December 31,				For the Year Ended December 31,
	2018		2017		2018		2017
SELECTED FINANCIAL RATIOS (1):
Return on average assets	0.89	%	0.26	%	0.36	%	0.46	%
Core return on average assets	0.89	%	0.27	%	0.79	%	0.55	%
Return on average equity	6.18	%	3.00	%	2.87	%	5.37	%
Core return on average equity	6.18	%	3.04	%	6.12	%	6.27	%
Interest rate spread	2.39	%	2.58	%	2.45	%	2.62	%
Net interest margin	2.74	%	2.79	%	2.74	%	2.82	%
Non-interest expense to average assets	1.86	%	1.83	%	2.30	%	1.97	%
Efficiency ratio	62.30	%	61.45	%	78.28	%	65.84	%
Core efficiency ratio	62.30	%	61.54	%	59.52	%	64.51	%
Average interest-earning assets to average interest-bearing liabilities	130.22	%	122.50	%	127.27	%	122.00	%

(1) Ratios are annualized for the three month periods presented.




	December 31,
CAPITAL RATIOS:	2018		2017
Company:
Total capital (to risk-weighted assets)	23.45	%	15.01	%
Tier 1 capital (to risk-weighted assets)	22.19	%	13.76	%
Common equity tier 1 capital (to risk-weighted assets)	22.19	%	12.55	%
Tier 1 capital (to adjusted total assets)	15.75	%	10.54	%

Columbia Bank:
Total capital (to risk-weighted assets)	19.04	%	14.90	%
Tier 1 capital (to risk-weighted assets)	17.79	%	13.64	%
Common equity tier 1 capital (to risk-weighted assets)	17.79	%	13.64	%
Tier 1 capital (to adjusted total assets)	12.60	%	10.44	%



ASSET QUALITY:
(Dollars in thousands)	December 31,
	2018			2017

Non-accrual loans	$	2,789		$	6,525
90+ and still accruing	—			—
Non-performing loans	2,789			6,525
Foreclosed assets	92			959
Total Non-performing assets	$	2,881		$	7,484

Non-performing loans to total loans receivable	0.06		%	0.15		%
Non-performing assets to total assets	0.04		%	0.13		%
Allowance for loan losses	$	62,342		$	58,178
Allowance for loan losses to total non-performing loans	2,235.28		%	891.62		%
Allowance for loan losses to gross loans	1.26		%	1.31		%



LOAN DATA:
(In thousands)	December 31,
	2018			2017
Real estate loans:
One-to-four family	$	1,830,186		$	1,615,000
Multifamily and commercial	2,142,154			1,870,475
Construction	261,473			233,652
Commercial business loans	333,876			277,970
Consumer loans:
Home equity loans and advances	393,492			447,920
Other consumer loans	1,108			998
Total gross loans	4,962,289			4,446,015
Net deferred loan costs, fees and purchased premiums and discounts	16,893			12,633
Allowance for loan losses	(62,342		)	(58,178		)
Loans receivable, net	$	4,916,840		$	4,400,470



Reconciliation to Core Net Income
(In thousands)	Three months ended December 31,						Year ended December 31,
	2018			2017			2018			2017

Net income	$	14,867		$	3,678		$	22,736		$	24,757
Add: contribution to charitable foundation net of tax benefit	—			—			27,466			2,744
Add: losses (gains) on sale of securities, net of tax	—			47			(79		)	1,689
Core net income	$	14,867		$	3,725		$	50,123		$	29,190


Return on Average Assets
(Dollars in thousands)	Three months ended December 31,						Year ended December 31,
	2018			2017			2018			2017

Net income	$	14,867		$	3,678		$	22,736		$	24,757

Average assets	$	6,612,099		$	5,540,224		$	6,319,249		$	5,353,953

Return on average assets	0.89		%	0.26		%	0.36		%	0.46		%

Core net income	$	14,867		$	3,725		$	50,123		$	29,190

Core return on average assets	0.89		%	0.27		%	0.79		%	0.55		%

Return on Average Equity
(Dollars in thousands)	Three months ended December 31,						Year ended December 31,
	2018			2017			2018			2017

Total average stockholders' equity	$	954,953		$	485,745		$	791,889		$	460,912
Add: contribution to charitable foundation net of tax benefit	—			—			27,466			2,744
Add: losses (gains) on sale of securities, net of tax	—			47			(79		)	1,689
Core average stockholder's equity	$	954,953		$	485,792		$	819,276		$	465,345

Return on average equity	6.18		%	3.00		%	2.87		%	5.37		%

Core return on average equity	6.18		%	3.04		%	6.12		%	6.27		%



Efficiency Ratios
(Dollars in thousands)	Three months ended December 31,						Year ended December 31,
	2018			2017			2018			2017

Net interest income	$	43,375		$	36,929		$	164,034		$	143,309
Non-interest income	6,405			4,733			21,688			16,818
Total revenue	$	49,780		$	41,662		$	185,722		$	160,127

Non-interest expense	$	31,013		$	25,601		$	145,386		$	105,421

Efficiency ratio	62.30		%	61.45		%	78.28		%	65.84		%

Non-interest income	$	6,405		$	4,733		$	21,688		$	16,818
Add: losses (gains) on sale of securities	—			(60		)	116			(2,159		)
Core non-interest income	$	6,405		$	4,673		$	21,804		$	14,659

Non-interest expense	$	31,013		$	25,601		$	145,386		$	105,421
Less: contribution to charitable foundation	—			—			34,767			3,509
Core non-interest expense	$	31,013		$	25,601		$	110,619		$	101,912

Core efficiency ratio	62.30		%	61.54		%	59.52		%	64.51		%



Reconciliation of GAAP to Non-GAAP Financial Measures

Book and Tangible Book Value per Share
(Dollars in thousands)	At December 31,
	2018		2017

Total stockholders' equity	$	972,060	$	472,070
Less: goodwill	5,716		5,716
Total tangible stockholders' equity	$	966,344	$	466,354

Shares outstanding	115,889,175		—

Book value per share	$	8.39	N/A
Tangible book value per share	$	8.34	N/A