OceanFirst Financial Corp. Announces Third Quarter Financial Results
Key Highlights
- ➤Net income $16.5 million, or $0.17 diluted share, versus $17.3 million year-earlier
- ➤Core earnings $46.9 million, or $0.48 diluted share, rose from $30.5 million
- ➤Commercial loans grew $325.0 million; total loans increased 5% annualized
- ➤Deposits increased $319.3 million to $18.1 billion
- ➤$37.1 million of non-recurring Flushing merger expenses pressured quarterly results
Expert Statements
Christopher D. Maher, Chief Executive Officer of OceanFirst Financial Corp.
“We are pleased with the increases in margin and profitability and the timely and successful completion of the Flushing integration. The integration of Flushing clients into OceanFirst was executed smoothly, allowing us to deliver a unified operating platform under the OceanFirst Bank brand. This achievement has allowed us to eliminate redundant back-office operating expenses, improve operational efficiencies, and launch our first advertising campaigns in the New York market.”
Christopher D. Maher, Chief Executive Officer of OceanFirst Financial Corp.
“With the integration complete, we are focused on leveraging the scale and capabilities of the combined company to enhance the customer service experience and support long-term, profitable growth.”
RED BANK, N.J., Oct. 27, 2026 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC) (the “Company”), the holding company for OceanFirst Bank N.A. (the “Bank”), reported net income available for common stockholders of $16.5 million, or $0.17 per diluted share(1), for the three months ended September 30, 2026, as compared to $17.3 million, or $0.30 per diluted share, for the corresponding prior year period, and a net loss of $3.0 million, or $0.04 per diluted share, for the linked quarter. For the nine months ended September 30, 2026, the Company reported net income available to common stockholders of $33.9 million, or $0.45 per diluted share, as compared to $54.0 million, or $0.94 per diluted share, for the corresponding prior year period. Selected performance metrics are as follows (refer to “Selected Quarterly Financial Data” for additional information):
For the Three Months Ended,For the Nine Months Ended, Performance Ratios (Annualized):September 30,June 30,September 30,September 30,September 30, 202620262025202620 25 Return (loss) on average assets0.28 %(0.07)%0.51 %0.25 %0.54 % Return (loss) on average stockholders’ equity2.70(0.63)4.152.264.29 Return (loss) on average tangible stockholders’ equity ((a))3.63(0.88)6.133.146.28 Return (loss) on average tangible common equity ((a))3.63(0.88)6.133.146.28 Efficiency ratio81.7698.8874.1384.5170.64 Net interest margin3.183.052.913.072.91
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