OceanFirst Financial Corp. Announces Quarterly and Annual Financial Results
Rhea-AI Summary
OceanFirst Financial (NASDAQ:OCFC) reported net income available to common stockholders of $13.1M (Q4 2025), or $0.23 diluted, down from $20.9M, and net income for year 2025 of $67.1M, or $1.17 diluted, down from $96.0M in 2024. Net interest income rose to $95.3M for the quarter and $360.2M for the year; net interest margin was 2.87% (quarter) and 2.90% (year). Loans grew by $474M (18% annualized) with $1.05B originations. Estimated CET1 capital ratio was 10.7%. Board declared quarterly dividend $0.20 payable Feb 13, 2026.
Positive
- Net interest income of $95.3M in Q4 2025
- Total loans increased $474M (18% annualized)
- Loan originations of $1.05B in Q4 2025
- Estimated CET1 ratio of 10.7%
- Declared quarterly dividend of $0.20 payable Feb 13, 2026
Negative
- Quarterly net income down ~37% versus prior year quarter
- Full-year net income down ~30% versus 2024
- Efficiency ratio worsened to 80.37% (Q4 annualized)
- Non-core charges: $7.4M restructuring and $4.3M merger expenses
News Market Reaction – OCFC
In the Jan 23 session, OCFC declined 3.70%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Oct 22 | Q3 2025 earnings | Positive | +1.6% | Net income growth vs prior quarter and solid loan and margin expansion. |
| Jul 24 | Q2 2025 earnings | Negative | -2.6% | Year-over-year earnings decline despite stable core and margin improvement. |
| Apr 24 | Q1 2025 earnings | Neutral | +0.3% | Lower earnings but improving NIM and commercial loan and pipeline growth. |
| Jan 23 | Q4 2024 & FY results | Negative | -1.8% | Q4 and full-year 2024 net income down vs 2023 amid modest loan trends. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings headlines for OCFC have historically produced relatively modest moves (average around 1.56%), with market reactions generally aligning with the tone of each report.
Across 2025, OceanFirst’s quarterly earnings updates showed year-over-year net income pressure but ongoing balance sheet growth and margin improvement. Q1–Q3 2025 releases highlighted rising net interest income, higher net interest margin, and expanding commercial loan pipelines, while restructuring and efficiency initiatives weighed on GAAP results. Today’s Q4 and full-year 2025 report continues that theme: lower reported net income but stronger core earnings, ongoing loan growth, and confirmation of the Flushing merger path and dividend continuity.
Key Terms
core earnings financial
pre-tax pre-provision income financial
non-gaap financial
credit risk transfer financial
common equity tier one capital ratio financial
subordinated debt financial
fdic special assessment regulatory
provision for credit losses financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
RED BANK, N.J., Jan. 22, 2026 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:“OCFC”) (the “Company”), the holding company for OceanFirst Bank N.A. (the “Bank”), announced net income available to common stockholders of
| For the Three Months Ended, | For the Year Ended, | |||||||||||||
| December 31, | September 30, | December 31, | December 31, | December 31, | ||||||||||
| Performance Ratios (Quarterly Ratios Annualized): | 2025 | 2025 | 2024 | 2025 | 2024 | |||||||||
| Return on average assets | 0.36 | % | 0.51 | % | 0.61 | % | 0.49 | % | 0.71 | % | ||||
| Return on average stockholders’ equity | 3.12 | 4.15 | 4.88 | 4.00 | 5.70 | |||||||||
| Return on average tangible stockholders’ equity (a) | 4.57 | 6.13 | 7.12 | 5.86 | 8.24 | |||||||||
| Return on average tangible common equity (a) | 4.57 | 6.13 | 7.47 | 5.86 | 8.65 | |||||||||
| Efficiency ratio | 80.37 | 74.13 | 67.86 | 73.16 | 63.99 | |||||||||
| Net interest margin | 2.87 | 2.91 | 2.69 | 2.90 | 2.72 | |||||||||
(a) Return on average tangible stockholders’ equity and return on average tangible common equity (“ROTCE”) are non-GAAP (“generally accepted accounting principles”) financial measures. Refer to “Explanation of Non-GAAP Financial Measures,” “Selected Quarterly Financial Data” and “Other Items - Non-GAAP Reconciliation” tables for reconciliation and additional information regarding non-GAAP financial measures.
Core earnings1 for the quarter and year ended December 31, 2025 were
Core earnings PTPP1 for the quarter and year ended December 31, 2025 were
| For the Three Months Ended, | For the Year Ended, | ||||||||||||||||||
| December 31, | September 30, | December 31, | December 31, | December 31, | |||||||||||||||
| Core Ratios1 (Quarterly Ratios Annualized): | 2025 | 2025 | 2024 | 2025 | 2024 | ||||||||||||||
| Return on average assets | 0.65 | % | 0.60 | % | 0.65 | % | 0.60 | % | 0.69 | % | |||||||||
| Return on average tangible stockholders’ equity | 8.21 | 7.19 | 7.51 | 7.14 | 8.03 | ||||||||||||||
| Return on average tangible common equity | 8.21 | 7.19 | 7.89 | 7.14 | 8.43 | ||||||||||||||
| Efficiency ratio | 68.19 | 70.30 | 67.74 | 69.15 | 64.57 | ||||||||||||||
| Core diluted earnings per share | $ | 0.41 | $ | 0.36 | $ | 0.38 | $ | 1.43 | $ | 1.60 | |||||||||
| Core PTPP diluted earnings per share | 0.58 | 0.54 | 0.51 | 2.13 | 2.22 | ||||||||||||||
Key developments for the recent quarter are described below:
- Net Interest Income and PTPP Growth: Net interest income increased by
$4.6 million , or5% , to$95.3 million , representing a20% annualized growth rate and driving an increase in pre-tax pre-provision income of$2.7 million , or9% , to$33.2 million . - Loan Growth: Total loans increased
$474.0 million , representing an18% annualized growth rate, primarily due to an increase in commercial loans. Loan originations were robust at$1.05 billion for the quarter, and the loan pipeline remained strong at$474.1 million . - Capital: Capital remained strong with an estimated common equity tier one capital ratio of
10.7% as of December 31, 2025 and was favorably impacted by the Company’s execution of a credit risk transfer on a$1.5 billion pool of residential loans. The credit protection significantly reduced the risk-weighted assets associated with these loans for regulatory capital purposes.
Chairman and Chief Executive Officer, Christopher D. Maher, commented on the Company’s results, “We are pleased to present our current quarter results, which reflect strong capital and robust net loan growth, while maintaining a strong commercial loan pipeline. We recently announced entry into a merger agreement with Flushing Financial Corporation and an investment from Warburg Pincus, to further improve financial performance and operating scale.” Mr. Maher added, “As we turn to 2026, the Company remains focused on continued profitability gains, driven by the strategic initiatives undertaken during 2025 and the anticipated closing of the merger transaction in the second quarter of 2026, which is subject to receipt of regulatory approvals, approval by OceanFirst and Flushing shareholders and the satisfaction of other customary closing conditions.”
The Company’s Board of Directors declared its 116th consecutive quarterly cash dividend on common stock. The quarterly cash dividend on common stock of
1 Core earnings and core earnings before income taxes and provision for credit losses (“PTPP” or “Pre-Tax-Pre-Provision”), and ratios derived therefrom, are non-GAAP financial measures. For the periods presented, the opening provision for credit losses in connection with the acquisition of Spring Garden Capital Group, LLC (“Spring Garden”), net (gain) loss on equity investments, net gain on sale of trust business, restructuring charges, credit risk transfer execution expense, the Federal Deposit Insurance Corporation (“FDIC”) special assessment (release) expense, merger related expenses, and the income tax effect of these items, as well as loss on redemption of preferred stock (collectively referred to as “non-core” operations). PTPP excludes the aforementioned pre-tax “non-core” items along with income tax expense (benefit) and provision for credit losses (exclusive of the Spring Garden opening provision). Refer to “Explanation of Non-GAAP Financial Measures,” “Selected Quarterly Financial Data” and the “Other Items - Non-GAAP Reconciliation” tables for additional information regarding non-GAAP financial measures.
Results of Operations
The current quarter included an additional
Net Interest Income and Margin
Quarter ended December 31, 2025 vs. December 31, 2024
Net interest income increased to
Average interest-earning assets increased by
The cost of average interest-bearing liabilities decreased to
Year ended December 31, 2025 vs. December 31, 2024
Net interest income increased to
Average interest-earning assets increased by
The cost of average interest-bearing liabilities decreased to
Quarter ended December 31, 2025 vs. September 30, 2025
Net interest income increased by
Average interest-earning assets increased by
The cost of average interest-bearing liabilities decreased to
Provision for Credit Losses
Provision for credit losses for the quarter and year ended December 31, 2025, was
Net loan charge-offs were
Non-interest Income
Quarter ended December 31, 2025 vs. December 31, 2024
Other income decreased to
Excluding non-core operations, other income decreased
Year ended December 31, 2025 vs. December 31, 2024
Other income decreased to
Excluding non-core operations, other income increased
Quarter ended December 31, 2025 vs. September 30, 2025
Other income in the linked quarter was
Non-interest Expense
Quarter ended December 31, 2025 vs. December 31, 2024
Operating expenses increased to
Excluding non-core operations, operating expenses increased by
Year ended December 31, 2025 vs. December 31, 2024
Operating expenses increased to
Excluding non-core operations, operating expenses increased by
Quarter ended December 31, 2025 vs. September 30, 2025
Operating expenses in the linked quarter were
Income Tax Expense
The provision for income taxes was
Financial Condition
December 31, 2025 vs. December 31, 2024
Total assets increased by
Total liabilities increased by
Other liabilities decreased by
Capital levels remain strong and in excess of “well-capitalized” regulatory levels at December 31, 2025, including the Company’s estimated common equity tier one capital ratio of
Total stockholders’ equity decreased to
During the year ended December 31, 2025, the Company repurchased 1,433,537 shares totaling
The Company’s tangible common equity2 increased by
Book value per common share decreased to
2 Tangible book value per common share and tangible common equity to tangible assets are non-GAAP financial measures and exclude the impact of intangible assets, goodwill, and preferred equity from both stockholders’ equity and total assets. Refer to “Explanation of Non-GAAP Financial Measures” and the “Other Items - Non-GAAP Reconciliation” tables for additional information regarding non-GAAP financial measures.
Asset Quality
December 31, 2025 vs. December 31, 2024
The Company’s non-performing loans decreased to
The Company’s asset quality, excluding purchased with credit deterioration (“PCD”) loans, was as follows. Non-performing loans decreased to
Explanation of Non-GAAP Financial Measures
Reported amounts are presented in accordance with GAAP. The Company’s management believes that the supplemental non-GAAP information, which consists of reported net income excluding non-core operations and in some instances excluding income taxes and provision for credit losses, and reporting equity and asset amounts excluding intangible assets, goodwill or preferred stock, all of which can vary from period to period, provides a better comparison of period-to-period operating performance. Additionally, the Company believes this information is utilized by regulators and market analysts to evaluate a company’s financial condition and, therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for financial results in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures, which may be presented by other companies. Refer to the Non-GAAP Reconciliation table at the end of this document for details on the earnings impact of these items.
Conference Call
As previously announced, the Company will host an earnings conference call on Friday, January 23, 2026 at 11:00 a.m. Eastern Time. The direct dial number for the call is 1-833-470-1428, toll free, using the access code 711318. For those unable to participate in the conference call, a replay will be available. To access the replay, dial 1-866-813-9403, access code 406472, from one hour after the end of the call until January 30, 2026. The conference call will also be available (listen-only) by internet webcast at www.oceanfirst.com - in the Investor Relations section.
OceanFirst Financial Corp.’s subsidiary, OceanFirst Bank N.A., founded in 1902, is a
Forward-Looking Statements
In addition to historical information, this news release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between OceanFirst Financial Corp. (“OceanFirst”) and Flushing Financial Corporation (“Flushing”) and the proposed investment by Warburg Pincus LLC (“Warburg Pincus”) in equity securities of OceanFirst. Forward-looking statements may be identified by the use of the words such as “ estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “could,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. These forward-looking statements include, but are not limited to, statements regarding the proposed transaction between OceanFirst and Flushing and the proposed investment by Warburg Pincus, including statements as to the expected timing, completion and effects of the proposed transaction. These statements are based on various assumptions, whether or not identified in this document, and on the current expectations of OceanFirst’s and Flushing’s management and are not predictions of actual performance, and, as a result, are subject to risks and uncertainties. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict, may differ from assumptions and many are beyond the control of OceanFirst and Flushing. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to: (i) the risk that the proposed transaction may not be completed in a timely manner or at all; (ii) the failure to satisfy the conditions to the consummation of the proposed transaction, including obtaining the requisite OceanFirst and Flushing stockholder approvals or the necessary regulatory approvals (and the risk that such regulatory approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the transaction); (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement between OceanFirst and Flushing; (iv) the inability to obtain alternative capital in the event it becomes necessary to complete the proposed transaction; (v) the effect of the announcement or pendency of the proposed transaction on OceanFirst’s and Flushing’s business relationships, operating results and business generally; (vi) risks that the proposed transaction disrupts current plans and operations of OceanFirst and Flushing; (vii) potential difficulties in retaining OceanFirst and Flushing customers and employees as a result of the proposed transaction; (viii) OceanFirst’s and Flushing’s estimates of its financial performance; (ix) changes in general economic, political, or industry conditions, including persistent inflation, supply chain issues or labor shortages, instability in global economic conditions and geopolitical matters, as well as volatility in financial markets; (x) uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Federal Reserve; (xi) the credit risks of lending activities, which may be affected by deterioration in real estate markets and the financial condition of borrowers, and the operational risk of lending activities, including the effectiveness of OceanFirst’s and Flushing’s underwriting practices and the risk of fraud; (xii) fluctuations in the demand for loans; (xiii) the ability to develop and maintain a strong core deposit base or other low cost funding sources necessary to fund OceanFirst’s and Flushing’s activities particularly in a rising or high interest rate environment; (xiv) the rapid withdrawal of a significant amount of deposits over a short period of time; (xv) results of examinations by regulatory authorities of OceanFirst or Flushing and the possibility that any such regulatory authority may, among other things, limit OceanFirst’s or Flushing’s business activities, restrict OceanFirst’s or Flushing’s ability to invest in certain assets, refrain from issuing an approval or non-objection to certain capital or other actions, increase OceanFirst’s or Flushing’s allowance for credit losses, result in write-downs of asset values, restrict OceanFirst’s or Flushing’s ability or that of OceanFirst’s or Flushing’s bank subsidiary to pay dividends, or impose fines, penalties or sanctions; (xvi) the impact of bank failures or other adverse developments at other banks on general investor sentiment regarding the stability and liquidity of banks; (xvii) changes in the markets in which OceanFirst and Flushing compete, including with respect to the competitive landscape, technology evolution or regulatory changes; (xviii) changes in consumer spending, borrowing and saving habits; (xix) slowdowns in securities trading or shifting demand for security trading products; (xx) the impact of pandemics and other catastrophic events or disasters on the global economy and financial market conditions and our business, results of operations, and financial condition; (xxi) legislative or regulatory changes; (xxii) changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs, (xxiii) impact of operating in a highly competitive industry; (xxiv) reliance on third party service providers; (xxv) competition in retaining key employees; (xxvi) risks related to data security and privacy, including the impact of any data security breaches, cyberattacks, employee or other internal misconduct, malware, phishing or ransomware, physical security breaches, natural disasters, or similar disruptions; (xxvii) changes to accounting principles and guidelines; (xxviii) potential litigation relating to the proposed transaction that could be instituted against OceanFirst, Flushing or their respective directors and officers, including the effects of any outcomes related thereto; (xxix) volatility in the trading price of OceanFirst’s or Flushing’s securities; (xxx) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities; (xxxi) the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected expenses, factors or events; (xxxii) the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where OceanFirst and Flushing do business; and (xxxiii) the dilution caused by OceanFirst’s issuance of additional shares of its capital stock in connection with the transaction. The foregoing list of factors is not exhaustive. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above.
You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of OceanFirst’s registration statement on Form S-4 that will contain a joint proxy statement/prospectus discussed below, when it becomes available, and other documents filed by OceanFirst or Flushing from time to time with the U.S. Securities and Exchange Commission (the “SEC”). These filings do and will identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. If any of these risks materialize or our assumptions prove incorrect, actual events and results could differ materially from those contained in the forward-looking statements. There may be additional risks that neither OceanFirst nor Flushing presently knows or that OceanFirst or Flushing currently believes are immaterial that could also cause actual events and results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect OceanFirst’s and Flushing’s expectations, plans or forecasts of future events and views as of the date of this document. OceanFirst and Flushing anticipate that subsequent events and developments will cause OceanFirst’s and Flushing’s assessments to change. While OceanFirst and Flushing may elect to update these forward-looking statements at some point in the future, OceanFirst and Flushing specifically disclaim any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing OceanFirst’s and Flushing’s assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements. Forward-looking statements speak only as of the date they are made. Neither OceanFirst nor Flushing gives any assurance that either OceanFirst or Flushing, or the combined company, will achieve the results or other matters set forth in the forward-looking statements.
Additional Information and Where to Find It
This document is not a proxy statement or solicitation or a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of OceanFirst, Flushing Financial Corporation or the combined company, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, and otherwise in accordance with applicable law.
This document relates to the proposed transaction between OceanFirst and Flushing and the proposed investment in OceanFirst by Warburg Pincus. OceanFirst intends to file a registration statement on Form S-4 with the SEC, which will include a preliminary joint proxy statement/prospectus to be distributed to holders of OceanFirst’s common stock and Flushing’s common stock in connection with OceanFirst’s and Flushing’s solicitation of proxies for the vote by OceanFirst’s stockholders and Flushing’s stockholders with respect to the proposed transaction. After the registration statement has been filed and declared effective, OceanFirst and Flushing will mail a definitive joint proxy statement/prospectus to their respective stockholders that, as of the applicable record date, are entitled to vote on the matters being considered at the OceanFirst stockholder meeting and at the Flushing stockholder meeting, as applicable. OceanFirst or Flushing may also file other documents with the SEC regarding the proposed transaction.
BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO CAREFULLY READ THE ENTIRE REGISTRATION STATEMENT AND JOINT PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) WHEN THEY BECOME AVAILABLE, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AND THE DEFINITIVE VERSIONS THEREOF (WHEN THEY BECOME AVAILABLE), AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO SUCH DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.
Investors and security holders will be able to obtain free copies of the registration statement, the joint proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by OceanFirst or Flushing through the website maintained by the SEC at www.sec.gov.
The documents filed by OceanFirst or Flushing with the SEC also may be obtained free of charge at OceanFirst’s or Flushing’s website at https://ir.oceanfirst.com/, under the heading “Financials” or https://investor.flushingbank.com/, under the heading “Financials”, respectively, or upon written request to OceanFirst, Attention: Investor Relations, 110 West Front Street, Red Bank, New Jersey 07701 or Flushing, Attention: Investor Relations, 220 RXR Plaza, Uniondale, New York 11556, respectively.
Participants in Solicitation
OceanFirst and Flushing and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from OceanFirst’s stockholders or Flushing’s stockholders in connection with the proposed transaction under the rules of the SEC. OceanFirst’s stockholders, Flushing’s stockholders and other interested persons will be able to obtain, without charge, more detailed information regarding the names, affiliations and interests of directors and executive officers of OceanFirst and Flushing in OceanFirst’s registration statement on Form S-4 that will be filed, as well other documents filed by OceanFirst or Flushing from time to time with the SEC. Other information regarding persons who may, under the rules of the SEC, be deemed the participants in the proxy solicitation of OceanFirst’s or Flushing’s stockholders in connection with the proposed transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the preliminary joint proxy statement/prospectus and will be contained in other relevant materials to be filed with the SEC regarding the proposed transaction (if and when they become available). You may obtain free copies of these documents at the SEC’s website at www.sec.gov. Copies of documents filed with the SEC by OceanFirst or Flushing will also be available free of charge from OceanFirst or Flushing using the contact information above.
| OceanFirst Financial Corp. CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (dollars in thousands) | |||||||||||
| December 31, 2025 | September 30, 2025 | December 31, 2024 | |||||||||
| (Unaudited) | (Unaudited) | ||||||||||
| Assets | |||||||||||
| Cash and due from banks | $ | 135,130 | $ | 274,125 | $ | 123,615 | |||||
| Debt securities available-for-sale, at estimated fair value | 1,231,827 | 1,261,580 | 827,500 | ||||||||
| Debt securities held-to-maturity, net of allowance for securities credit losses of | 881,568 | 919,734 | 1,045,875 | ||||||||
| Equity investments | 91,882 | 90,731 | 84,104 | ||||||||
| Restricted equity investments, at cost | 129,329 | 142,398 | 108,634 | ||||||||
| Loans receivable, net of allowance for loan credit losses of | 10,970,666 | 10,489,852 | 10,055,429 | ||||||||
| Loans held-for-sale | 5,768 | 17,766 | 21,211 | ||||||||
| Interest and dividends receivable | 49,010 | 47,606 | 45,914 | ||||||||
| Other real estate owned | 10,266 | 7,498 | 1,811 | ||||||||
| Premises and equipment, net | 112,743 | 112,449 | 115,256 | ||||||||
| Bank owned life insurance | 270,301 | 269,136 | 270,208 | ||||||||
| Goodwill | 517,481 | 523,308 | 523,308 | ||||||||
| Intangibles | 9,046 | 9,934 | 12,680 | ||||||||
| Other assets | 149,300 | 158,547 | 185,702 | ||||||||
| Total assets | $ | 14,564,317 | $ | 14,324,664 | $ | 13,421,247 | |||||
| Liabilities and Stockholders’ Equity | |||||||||||
| Deposits | $ | 10,964,405 | $ | 10,435,994 | $ | 10,066,342 | |||||
| Federal Home Loan Bank advances | 1,397,179 | 1,705,585 | 1,072,611 | ||||||||
| Securities sold under agreements to repurchase with customers | 54,434 | 64,869 | 60,567 | ||||||||
| Other borrowings | 255,233 | 198,138 | 197,546 | ||||||||
| Advances by borrowers for taxes and insurance | 21,245 | 23,708 | 23,031 | ||||||||
| Other liabilities | 209,271 | 242,943 | 298,393 | ||||||||
| Total liabilities | 12,901,767 | 12,671,237 | 11,718,490 | ||||||||
| Stockholders’ equity: | |||||||||||
| OceanFirst Financial Corp. stockholders’ equity | 1,662,550 | 1,652,537 | 1,701,650 | ||||||||
| Non-controlling interest | — | 890 | 1,107 | ||||||||
| Total stockholders’ equity | 1,662,550 | 1,653,427 | 1,702,757 | ||||||||
| Total liabilities and stockholders’ equity | $ | 14,564,317 | $ | 14,324,664 | $ | 13,421,247 | |||||
| OceanFirst Financial Corp. CONSOLIDATED STATEMENTS OF INCOME (in thousands, except per share amounts) | |||||||||||||||||||
| For the Three Months Ended | For the Year Ended | ||||||||||||||||||
| December 31, | September 30, | December 31, | December 31, | ||||||||||||||||
| 2025 | 2025 | 2024 | 2025 | 2024 | |||||||||||||||
| |--------------------- (Unaudited) ---------------------| | (Unaudited) | ||||||||||||||||||
| Interest income: | |||||||||||||||||||
| Loans | $ | 146,550 | $ | 141,847 | $ | 135,438 | $ | 556,894 | $ | 545,243 | |||||||||
| Debt securities | 21,681 | 17,156 | 19,400 | 72,057 | 77,749 | ||||||||||||||
| Equity investments and other | 3,501 | 3,191 | 4,782 | 13,503 | 19,181 | ||||||||||||||
| Total interest income | 171,732 | 162,194 | 159,620 | 642,454 | 642,173 | ||||||||||||||
| Interest expense: | |||||||||||||||||||
| Deposits | 59,615 | 53,246 | 59,889 | 216,180 | 242,133 | ||||||||||||||
| Borrowed funds | 16,839 | 18,291 | 16,402 | 66,051 | 66,005 | ||||||||||||||
| Total interest expense | 76,454 | 71,537 | 76,291 | 282,231 | 308,138 | ||||||||||||||
| Net interest income | 95,278 | 90,657 | 83,329 | 360,223 | 334,035 | ||||||||||||||
| Provision for credit losses | 3,700 | 4,092 | 3,467 | 16,171 | 7,689 | ||||||||||||||
| Net interest income after provision for credit losses | 91,578 | 86,565 | 79,862 | 344,052 | 326,346 | ||||||||||||||
| Other income (loss): | |||||||||||||||||||
| Bankcard services revenue | 1,789 | 1,663 | 1,595 | 6,534 | 6,197 | ||||||||||||||
| Trust and asset management revenue | 350 | 384 | 416 | 1,514 | 1,745 | ||||||||||||||
| Fees and service charges | 2,994 | 5,190 | 6,207 | 17,865 | 21,791 | ||||||||||||||
| Net gain on sales of loans | 751 | 900 | 1,076 | 3,686 | 2,358 | ||||||||||||||
| Net gain (loss) on equity investments | 230 | (7 | ) | (5 | ) | 916 | 4,225 | ||||||||||||
| Net (loss) gain from other real estate operations | (10 | ) | 1 | (20 | ) | (285 | ) | (20 | ) | ||||||||||
| Income from bank owned life insurance | 2,127 | 1,988 | 2,538 | 7,753 | 7,905 | ||||||||||||||
| Commercial loan swap income | 1,119 | 1,703 | 86 | 3,649 | 879 | ||||||||||||||
| Other | 61 | 482 | 339 | 3,069 | 5,107 | ||||||||||||||
| Total other income | 9,411 | 12,304 | 12,232 | 44,701 | 50,187 | ||||||||||||||
| Operating expenses: | |||||||||||||||||||
| Compensation and employee benefits | 40,984 | 41,387 | 36,602 | 159,353 | 138,341 | ||||||||||||||
| Occupancy | 5,825 | 6,098 | 5,280 | 22,874 | 20,811 | ||||||||||||||
| Equipment | 876 | 931 | 1,026 | 3,597 | 4,250 | ||||||||||||||
| Marketing | 1,466 | 1,538 | 1,615 | 5,653 | 5,165 | ||||||||||||||
| Federal deposit insurance and regulatory assessments | 3,102 | 2,616 | 2,517 | 11,599 | 10,955 | ||||||||||||||
| Data processing | 7,104 | 7,164 | 6,366 | 27,723 | 24,280 | ||||||||||||||
| Check card processing | 1,086 | 1,170 | 1,134 | 4,582 | 4,412 | ||||||||||||||
| Professional fees | 4,862 | 3,467 | 2,620 | 15,090 | 9,483 | ||||||||||||||
| Amortization of intangibles | 888 | 900 | 876 | 3,634 | 3,333 | ||||||||||||||
| Merger related expenses | 4,253 | — | 110 | 4,253 | 1,779 | ||||||||||||||
| Restructuring charges | 7,379 | 4,147 | — | 11,526 | — | ||||||||||||||
| Other operating expense | 6,317 | 6,909 | 6,703 | 26,353 | 23,068 | ||||||||||||||
| Total operating expenses | 84,142 | 76,327 | 64,849 | 296,237 | 245,877 | ||||||||||||||
| Income before provision for income taxes | 16,847 | 22,542 | 27,245 | 92,516 | 130,656 | ||||||||||||||
| Provision for income taxes | 3,754 | 5,156 | 5,083 | 21,489 | 30,266 | ||||||||||||||
| Net income | 13,093 | 17,386 | 22,162 | 71,027 | 100,390 | ||||||||||||||
| Net income attributable to non-controlling interest | — | 56 | 253 | 49 | 325 | ||||||||||||||
| Net income attributable to OceanFirst Financial Corp. | 13,093 | 17,330 | 21,909 | 70,978 | 100,065 | ||||||||||||||
| Dividends on preferred shares | — | — | 1,004 | 2,008 | 4,016 | ||||||||||||||
| Loss on redemption of preferred stock | — | — | — | 1,842 | — | ||||||||||||||
| Net income available to common stockholders | $ | 13,093 | $ | 17,330 | $ | 20,905 | $ | 67,128 | $ | 96,049 | |||||||||
| Basic earnings per share | $ | 0.23 | $ | 0.30 | $ | 0.36 | $ | 1.17 | $ | 1.65 | |||||||||
| Diluted earnings per share | $ | 0.23 | $ | 0.30 | $ | 0.36 | $ | 1.17 | $ | 1.65 | |||||||||
| Average basic shares outstanding | 56,942 | 57,031 | 58,026 | 57,419 | 58,296 | ||||||||||||||
| Average diluted shares outstanding | 56,954 | 57,036 | 58,055 | 57,425 | 58,297 | ||||||||||||||
| OceanFirst Financial Corp. SELECTED LOAN AND DEPOSIT DATA (dollars in thousands) | ||||||||||||||||||||||
| LOANS RECEIVABLE | At | |||||||||||||||||||||
| December 31, 2025 | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 | ||||||||||||||||||
| Commercial: | ||||||||||||||||||||||
| Commercial real estate - investor | $ | 5,420,989 | $ | 5,211,220 | $ | 5,068,125 | $ | 5,200,137 | $ | 5,287,683 | ||||||||||||
| Commercial and industrial: | ||||||||||||||||||||||
| Commercial and industrial - real estate | 986,431 | 997,122 | 914,406 | 896,647 | 902,219 | |||||||||||||||||
| Commercial and industrial - non-real estate | 1,227,556 | 998,860 | 862,504 | 748,575 | 647,945 | |||||||||||||||||
| Total commercial and industrial | 2,213,987 | 1,995,982 | 1,776,910 | 1,645,222 | 1,550,164 | |||||||||||||||||
| Total commercial | 7,634,976 | 7,207,202 | 6,845,035 | 6,845,359 | 6,837,847 | |||||||||||||||||
| Consumer: | ||||||||||||||||||||||
| Residential real estate | 3,194,264 | 3,135,200 | 3,119,232 | 3,053,318 | 3,049,763 | |||||||||||||||||
| Home equity loans and lines and other consumer (“other consumer”) | 202,763 | 215,581 | 220,820 | 226,633 | 230,462 | |||||||||||||||||
| Total consumer | 3,397,027 | 3,350,781 | 3,340,052 | 3,279,951 | 3,280,225 | |||||||||||||||||
| Total loans | 11,032,003 | 10,557,983 | 10,185,087 | 10,125,310 | 10,118,072 | |||||||||||||||||
| Deferred origination costs (fees), net | 22,389 | 13,105 | 13,960 | 11,560 | 10,964 | |||||||||||||||||
| Allowance for loan credit losses | (83,726 | ) | (81,236 | ) | (79,266 | ) | (78,798 | ) | (73,607 | ) | ||||||||||||
| Loans receivable, net | $ | 10,970,666 | $ | 10,489,852 | $ | 10,119,781 | $ | 10,058,072 | $ | 10,055,429 | ||||||||||||
| Mortgage loans serviced for others | $ | 365,431 | $ | 340,740 | $ | 288,211 | $ | 222,963 | $ | 191,279 | ||||||||||||
| At December 31, 2025 Average Yield | ||||||||||||||||||||||
| Loan pipeline (1): | ||||||||||||||||||||||
| Commercial | 6.81 | % | $ | 464,602 | $ | 710,933 | $ | 790,768 | $ | 375,622 | $ | 197,491 | ||||||||||
| Residential real estate (2) | 6.09 | 9,457 | 136,797 | 146,921 | 116,121 | 97,385 | ||||||||||||||||
| Other consumer (2) | — | — | 16,184 | 17,110 | 12,681 | 11,783 | ||||||||||||||||
| Total | 6.80 | % | $ | 474,059 | $ | 863,914 | $ | 954,799 | $ | 504,424 | $ | 306,659 | ||||||||||
| For the Three Months Ended | ||||||||||||||||||||||
| December 31, | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||
| 2025 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||||||
| Average Yield | ||||||||||||||||||||||
| Loan originations: | ||||||||||||||||||||||
| Commercial (3) | 6.57 | % | $ | 786,186 | $ | 739,154 | $ | 425,877 | $ | 233,968 | $ | 268,613 | ||||||||||
| Residential real estate | 6.00 | 249,540 | 250,066 | 274,314 | 167,162 | 235,370 | ||||||||||||||||
| Other consumer | 8.14 | 14,859 | 18,087 | 15,813 | 15,825 | 11,204 | ||||||||||||||||
| Total | 6.46 | % | $ | 1,050,585 | $ | 1,007,307 | $ | 716,004 | $ | 416,955 | $ | 515,187 | ||||||||||
| Loans sold (4) | $ | 107,486 | $ | 145,735 | $ | 142,431 | $ | 104,991 | $ | 127,508 | ||||||||||||
| (1) | Loan pipeline includes loans approved but not funded. |
| (2) | As of December 31, 2025, the Company has outsourced its residential and consumer originations, and the pipeline represents the remaining commitments expected to close in 2026. |
| (3) | Excludes commercial loan pool purchases of |
| (4) | Excludes sale of non-performing residential and consumer loans of |
| DEPOSITS | At | ||||||||||||||||||
| December 31, 2025 | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 | |||||||||||||||
| Type of Account | |||||||||||||||||||
| Non-interest-bearing | $ | 1,741,958 | $ | 1,731,760 | $ | 1,686,627 | $ | 1,660,738 | $ | 1,617,182 | |||||||||
| Interest-bearing checking | 4,354,485 | 4,090,930 | 3,845,602 | 4,006,653 | 4,000,553 | ||||||||||||||
| Money market | 1,412,917 | 1,397,434 | 1,377,999 | 1,337,570 | 1,301,197 | ||||||||||||||
| Savings | 986,195 | 1,000,488 | 1,022,918 | 1,052,504 | 1,066,438 | ||||||||||||||
| Time deposits (1) | 2,468,850 | 2,215,382 | 2,299,296 | 2,119,558 | 2,080,972 | ||||||||||||||
| Total deposits | $ | 10,964,405 | $ | 10,435,994 | $ | 10,232,442 | $ | 10,177,023 | $ | 10,066,342 | |||||||||
| (1) | Includes brokered time deposits of |
| OceanFirst Financial Corp. ASSET QUALITY (dollars in thousands) | |||||||||||||||||||
| ASSET QUALITY (1) (2) | December 31, 2025 | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 | ||||||||||||||
| Non-performing loans: | |||||||||||||||||||
| Commercial real estate - investor | $ | 13,636 | $ | 23,570 | $ | 20,457 | $ | 23,595 | $ | 17,000 | |||||||||
| Commercial and industrial: | |||||||||||||||||||
| Commercial and industrial - real estate | 4,813 | 7,469 | 4,499 | 4,690 | 4,787 | ||||||||||||||
| Commercial and industrial - non-real estate | 640 | 394 | 311 | 22 | 32 | ||||||||||||||
| Total commercial and industrial | 5,453 | 7,863 | 4,810 | 4,712 | 4,819 | ||||||||||||||
| Residential real estate | 6,200 | 7,334 | 5,318 | 5,709 | 10,644 | ||||||||||||||
| Other consumer | 2,502 | 2,496 | 2,926 | 2,954 | 3,064 | ||||||||||||||
| Total non-performing loans(2) | $ | 27,791 | $ | 41,263 | $ | 33,511 | $ | 36,970 | $ | 35,527 | |||||||||
| Other real estate owned | 10,266 | 7,498 | 7,680 | 1,917 | 1,811 | ||||||||||||||
| Total non-performing assets | $ | 38,057 | $ | 48,761 | $ | 41,191 | $ | 38,887 | $ | 37,338 | |||||||||
| Delinquent loans 30 to 89 days | $ | 47,808 | $ | 19,817 | $ | 14,740 | $ | 46,246 | $ | 36,550 | |||||||||
| Modifications to borrowers experiencing financial difficulty | |||||||||||||||||||
| Non-performing (included in total non-performing loans above) | $ | 956 | $ | 7,693 | $ | 8,129 | $ | 8,307 | $ | 3,232 | |||||||||
| Performing | 23,898 | 23,952 | 31,986 | 27,592 | 27,631 | ||||||||||||||
| Total modification to borrowers experiencing financial difficulty | $ | 24,854 | $ | 31,645 | $ | 40,115 | $ | 35,899 | $ | 30,863 | |||||||||
| Allowance for loan credit losses | $ | 83,726 | $ | 81,236 | $ | 79,266 | $ | 78,798 | $ | 73,607 | |||||||||
| Allowance for unfunded commitments | 4,028 | 4,636 | 3,289 | 2,846 | 3,264 | ||||||||||||||
| Allowance for loan credit losses as a percent of total loans receivable (3) | 0.76 | % | 0.77 | % | 0.78 | % | 0.78 | % | 0.73 | % | |||||||||
| Allowance for loan credit losses as a percent of total non-performing loans (3) | 301.27 | 196.87 | 236.54 | 213.14 | 207.19 | ||||||||||||||
| Non-performing loans as a percent of total loans receivable | 0.25 | 0.39 | 0.33 | 0.37 | 0.35 | ||||||||||||||
| Non-performing assets as a percent of total assets | 0.26 | 0.34 | 0.31 | 0.29 | 0.28 | ||||||||||||||
| Supplemental PCD and non-performing loans | |||||||||||||||||||
| PCD loans, net of allowance for loan credit losses | $ | 14,968 | $ | 19,003 | $ | 20,934 | $ | 21,737 | $ | 22,006 | |||||||||
| Non-performing PCD loans | 5,432 | 5,677 | 6,800 | 7,724 | 7,931 | ||||||||||||||
| Delinquent PCD and non-performing loans 30 to 89 days | 3,103 | 2,987 | 2,590 | 10,489 | 2,997 | ||||||||||||||
| PCD modifications to borrowers experiencing financial difficulty | 18 | 20 | 20 | 22 | 23 | ||||||||||||||
| Asset quality, excluding PCD loans | |||||||||||||||||||
| Non-performing loans (2) | 22,359 | 35,586 | 26,711 | 29,246 | 27,596 | ||||||||||||||
| Non-performing assets | 32,625 | 43,084 | 34,391 | 31,163 | 29,407 | ||||||||||||||
| Delinquent loans 30 to 89 days (excludes non-performing loans) | 44,705 | 16,830 | 12,150 | 35,757 | 33,553 | ||||||||||||||
| Modification to borrowers experiencing financial difficulty | 24,836 | 31,625 | 40,095 | 35,877 | 30,840 | ||||||||||||||
| Allowance for loan credit losses as a percent of total non-performing loans (3) | 374.46 | % | 228.28 | % | 296.75 | % | 269.43 | % | 266.73 | % | |||||||||
| Non-performing loans as a percent of total loans receivable | 0.20 | 0.34 | 0.26 | 0.29 | 0.27 | ||||||||||||||
| Non-performing assets as a percent of total assets | 0.22 | 0.30 | 0.26 | 0.23 | 0.22 | ||||||||||||||
| (1) | Asset quality metrics exclude loans held for sale. |
| (2) | The quarters ended December 31, 2025, June 30, 2025 and March 31, 2025 included the sale of non-performing residential and consumer loans of |
| (3) | Loans acquired from acquisitions were recorded at fair value. The net unamortized credit and PCD marks on these loans, not reflected in the allowance for loan credit losses, was |
| NET LOAN (CHARGE-OFFS) RECOVERIES | For the Three Months Ended | ||||||||||||||||||
| December 31, 2025 | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 | |||||||||||||||
| Net loan (charge-offs) recoveries: | |||||||||||||||||||
| Loan charge-offs | $ | (2,190 | ) | $ | (850 | ) | $ | (2,415 | ) | $ | (798 | ) | $ | (55 | ) | ||||
| Recoveries on loans | 216 | 233 | 197 | 162 | 213 | ||||||||||||||
| Net loan (charge-offs) recoveries | $ | (1,974 | ) | $ | (617 | ) | $ | (2,218 | ) | $ | (636 | ) | $ | 158 | |||||
| Net loan (charge-offs) recoveries to average total loans (annualized) | 0.07 | % | 0.02 | % | 0.09 | % | 0.03 | % | NM* | ||||||||||
| Net loan (charge-offs) recoveries detail: | |||||||||||||||||||
| Commercial (1) | $ | (1,676 | ) | $ | (522 | ) | $ | (1,666 | ) | $ | 25 | $ | 92 | ||||||
| Residential real estate (2) | (268 | ) | (24 | ) | (348 | ) | (720 | ) | (17 | ) | |||||||||
| Other consumer (2) | (30 | ) | (71 | ) | (204 | ) | 59 | 83 | |||||||||||
| Net loan (charge-offs) recoveries | $ | (1,974 | ) | $ | (617 | ) | $ | (2,218 | ) | $ | (636 | ) | $ | 158 | |||||
| (1) | The three months ended June 30, 2025 included charge-offs related to two commercial relationships of |
| (2) | The three months ended December 31, 2025, June 30, 2025 and March 31, 2025 included charge-offs of |
| * | Not meaningful as amounts are net loan recoveries. |
| OceanFirst Financial Corp. ANALYSIS OF NET INTEREST INCOME | |||||||||||||||||||||||||||||||||||
| For the Three Months Ended | |||||||||||||||||||||||||||||||||||
| December 31, 2025 | September 30, 2025 | December 31, 2024 | |||||||||||||||||||||||||||||||||
| (dollars in thousands) | Average Balance | Interest | Average Yield/ Cost(1) | Average Balance | Interest | Average Yield/ Cost(1) | Average Balance | Interest | Average Yield/ Cost(1) | ||||||||||||||||||||||||||
| Assets: | |||||||||||||||||||||||||||||||||||
| Interest-earning assets: | |||||||||||||||||||||||||||||||||||
| Interest-earning deposits and short-term investments | $ | 93,474 | $ | 988 | 4.19 | % | $ | 94,470 | $ | 1,115 | 4.68 | % | $ | 195,830 | $ | 2,415 | 4.91 | % | |||||||||||||||||
| Securities (2) | 2,339,646 | 24,194 | 4.10 | 1,990,917 | 19,232 | 3.83 | 2,116,911 | 21,767 | 4.09 | ||||||||||||||||||||||||||
| Loans receivable, net (3) | |||||||||||||||||||||||||||||||||||
| Commercial | 7,382,168 | 109,795 | 5.90 | 6,975,780 | 105,587 | 6.01 | 6,794,158 | 101,003 | 5.91 | ||||||||||||||||||||||||||
| Residential real estate | 3,194,529 | 33,377 | 4.18 | 3,151,177 | 32,685 | 4.15 | 3,049,092 | 30,455 | 4.00 | ||||||||||||||||||||||||||
| Other consumer | 211,650 | 3,378 | 6.33 | 218,465 | 3,575 | 6.49 | 236,161 | 3,980 | 6.70 | ||||||||||||||||||||||||||
| Allowance for loan credit losses, net of deferred loan costs and fees | (64,107 | ) | — | — | (66,812 | ) | — | — | (60,669 | ) | — | — | |||||||||||||||||||||||
| Loans receivable, net | 10,724,240 | 146,550 | 5.43 | 10,278,610 | 141,847 | 5.49 | 10,018,742 | 135,438 | 5.38 | ||||||||||||||||||||||||||
| Total interest-earning assets | 13,157,360 | 171,732 | 5.19 | 12,363,997 | 162,194 | 5.21 | 12,331,483 | 159,620 | 5.15 | ||||||||||||||||||||||||||
| Non-interest-earning assets | 1,180,416 | 1,187,197 | 1,213,569 | ||||||||||||||||||||||||||||||||
| Total assets | $ | 14,337,776 | $ | 13,551,194 | $ | 13,545,052 | |||||||||||||||||||||||||||||
| Liabilities and Stockholders' Equity: | |||||||||||||||||||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||
| Interest-bearing checking | $ | 4,464,604 | 25,575 | 2.27 | % | $ | 4,000,804 | 21,253 | 2.11 | % | $ | 4,050,428 | 22,750 | 2.23 | % | ||||||||||||||||||||
| Money market | 1,643,192 | 11,500 | 2.78 | 1,426,586 | 10,507 | 2.92 | 1,325,119 | 10,841 | 3.25 | ||||||||||||||||||||||||||
| Savings | 989,003 | 1,492 | 0.60 | 1,009,742 | 1,674 | 0.66 | 1,070,816 | 2,138 | 0.79 | ||||||||||||||||||||||||||
| Time deposits | 2,270,671 | 21,048 | 3.68 | 2,105,734 | 19,812 | 3.73 | 2,212,750 | 24,160 | 4.34 | ||||||||||||||||||||||||||
| Total | 9,367,470 | 59,615 | 2.52 | 8,542,866 | 53,246 | 2.47 | 8,659,113 | 59,889 | 2.75 | ||||||||||||||||||||||||||
| FHLB advances | 984,934 | 10,912 | 4.40 | 1,123,946 | 12,793 | 4.52 | 854,748 | 10,030 | 4.67 | ||||||||||||||||||||||||||
| Securities sold under agreements to repurchase | 65,891 | 427 | 2.57 | 59,017 | 438 | 2.94 | 76,856 | 513 | 2.66 | ||||||||||||||||||||||||||
| Other borrowings | 299,565 | 5,500 | 7.28 | 249,233 | 5,060 | 8.05 | 396,412 | 5,859 | 5.88 | ||||||||||||||||||||||||||
| Total borrowings | 1,350,390 | 16,839 | 4.95 | 1,432,196 | 18,291 | 5.07 | 1,328,016 | 16,402 | 4.91 | ||||||||||||||||||||||||||
| Total interest-bearing liabilities | 10,717,860 | 76,454 | 2.83 | 9,975,062 | 71,537 | 2.85 | 9,987,129 | 76,291 | 3.04 | ||||||||||||||||||||||||||
| Non-interest-bearing deposits | 1,755,211 | 1,720,657 | 1,627,376 | ||||||||||||||||||||||||||||||||
| Non-interest-bearing liabilities | 199,504 | 199,582 | 227,221 | ||||||||||||||||||||||||||||||||
| Total liabilities | 12,672,575 | 11,895,301 | 11,841,726 | ||||||||||||||||||||||||||||||||
| Stockholders’ equity | 1,665,201 | 1,655,893 | 1,703,326 | ||||||||||||||||||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 14,337,776 | $ | 13,551,194 | $ | 13,545,052 | |||||||||||||||||||||||||||||
| Net interest income | $ | 95,278 | $ | 90,657 | $ | 83,329 | |||||||||||||||||||||||||||||
| Net interest rate spread (4) | 2.36 | % | 2.36 | % | 2.11 | % | |||||||||||||||||||||||||||||
| Net interest margin (5) | 2.87 | % | 2.91 | % | 2.69 | % | |||||||||||||||||||||||||||||
| Total cost of deposits (including non-interest-bearing deposits) | 2.13 | % | 2.06 | % | 2.32 | % | |||||||||||||||||||||||||||||
| For the Year Ended | |||||||||||||||||||||||
| December 31, 2025 | December 31, 2024 | ||||||||||||||||||||||
| (dollars in thousands) | Average Balance | Interest | Average Yield/ Cost(1) | Average Balance | Interest | Average Yield/ Cost(1) | |||||||||||||||||
| Assets: | |||||||||||||||||||||||
| Interest-earning assets: | |||||||||||||||||||||||
| Interest-earning deposits and short-term investments | $ | 100,051 | $ | 4,176 | 4.17 | % | $ | 175,611 | $ | 9,381 | 5.34 | % | |||||||||||
| Securities (2) | 2,063,446 | 81,384 | 3.94 | 2,084,451 | 87,549 | 4.20 | |||||||||||||||||
| Loans receivable, net (3) | |||||||||||||||||||||||
| Commercial | 6,983,023 | 413,646 | 5.92 | 6,836,728 | 410,978 | 6.01 | |||||||||||||||||
| Residential real estate | 3,126,076 | 129,193 | 4.13 | 2,998,732 | 117,747 | 3.93 | |||||||||||||||||
| Other consumer | 220,942 | 14,055 | 6.36 | 243,360 | 16,518 | 6.79 | |||||||||||||||||
| Allowance for loan credit losses, net of deferred loan costs and fees | (64,796 | ) | — | — | (59,289 | ) | — | — | |||||||||||||||
| Loans receivable, net | 10,265,245 | 556,894 | 5.43 | 10,019,531 | 545,243 | 5.44 | |||||||||||||||||
| Total interest-earning assets | 12,428,742 | 642,454 | 5.17 | 12,279,593 | 642,173 | 5.23 | |||||||||||||||||
| Non-interest-earning assets | 1,186,135 | 1,215,809 | |||||||||||||||||||||
| Total assets | $ | 13,614,877 | $ | 13,495,402 | |||||||||||||||||||
| Liabilities and Stockholders' Equity: | |||||||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||
| Interest-bearing checking | $ | 4,148,302 | 88,866 | 2.14 | % | $ | 3,923,846 | 86,320 | 2.20 | % | |||||||||||||
| Money market | 1,434,355 | 41,077 | 2.86 | 1,214,690 | 41,948 | 3.45 | |||||||||||||||||
| Savings | 1,021,341 | 6,631 | 0.65 | 1,169,424 | 11,422 | 0.98 | |||||||||||||||||
| Time deposits | 2,118,145 | 79,606 | 3.76 | 2,325,638 | 102,443 | 4.40 | |||||||||||||||||
| Total | 8,722,143 | 216,180 | 2.48 | 8,633,598 | 242,133 | 2.80 | |||||||||||||||||
| FHLB advances | 996,798 | 44,997 | 4.51 | 742,575 | 35,686 | 4.81 | |||||||||||||||||
| Securities sold under agreements to repurchase | 62,420 | 1,711 | 2.74 | 73,399 | 1,893 | 2.58 | |||||||||||||||||
| Other borrowings | 273,130 | 19,343 | 7.08 | 484,406 | 28,426 | 5.87 | |||||||||||||||||
| Total borrowings | 1,332,348 | 66,051 | 4.96 | 1,300,380 | 66,005 | 5.08 | |||||||||||||||||
| Total interest-bearing liabilities | 10,054,491 | 282,231 | 2.81 | 9,933,978 | 308,138 | 3.10 | |||||||||||||||||
| Non-interest-bearing deposits | 1,678,768 | 1,630,719 | |||||||||||||||||||||
| Non-interest-bearing liabilities | 202,101 | 245,680 | |||||||||||||||||||||
| Total liabilities | 11,935,360 | 11,810,377 | |||||||||||||||||||||
| Stockholders’ equity | 1,679,517 | 1,685,025 | |||||||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 13,614,877 | $ | 13,495,402 | |||||||||||||||||||
| Net interest income | $ | 360,223 | $ | 334,035 | |||||||||||||||||||
| Net interest rate spread (4) | 2.36 | % | 2.13 | % | |||||||||||||||||||
| Net interest margin (5) | 2.90 | % | 2.72 | % | |||||||||||||||||||
| Total cost of deposits (including non-interest-bearing deposits) | 2.08 | % | 2.36 | % | |||||||||||||||||||
| (1) | Average yields and costs are annualized. |
| (2) | Amounts represent debt and equity securities, including FHLB and Federal Reserve Bank stock, and are recorded at average amortized cost, net of allowance for securities credit losses. |
| (3) | Amount is net of deferred loan costs and fees, undisbursed loan funds, discounts and premiums and allowance for loan credit losses, and includes loans held-for-sale and non-performing loans. |
| (4) | Net interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities. |
| (5) | Net interest margin represents net interest income divided by average interest-earning assets. |
| OceanFirst Financial Corp. SELECTED QUARTERLY FINANCIAL DATA (in thousands, except per share amounts) | |||||||||||||||||||
| December 31, 2025 | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 | |||||||||||||||
| Selected Financial Condition Data: | |||||||||||||||||||
| Total assets | $ | 14,564,317 | $ | 14,324,664 | $ | 13,327,847 | $ | 13,309,278 | $ | 13,421,247 | |||||||||
| Debt securities available-for-sale, at estimated fair value | 1,231,827 | 1,261,580 | 735,561 | 746,168 | 827,500 | ||||||||||||||
| Debt securities held-to-maturity, net of allowance for securities credit losses | 881,568 | 919,734 | 968,969 | 1,005,476 | 1,045,875 | ||||||||||||||
| Equity investments | 91,882 | 90,731 | 87,808 | 87,365 | 84,104 | ||||||||||||||
| Restricted equity investments, at cost | 129,329 | 142,398 | 106,538 | 102,172 | 108,634 | ||||||||||||||
| Loans receivable, net of allowance for loan credit losses | 10,970,666 | 10,489,852 | 10,119,781 | 10,058,072 | 10,055,429 | ||||||||||||||
| Deposits | 10,964,405 | 10,435,994 | 10,232,442 | 10,177,023 | 10,066,342 | ||||||||||||||
| Federal Home Loan Bank advances | 1,397,179 | 1,705,585 | 938,687 | 891,021 | 1,072,611 | ||||||||||||||
| Securities sold under agreements to repurchase from customers and other borrowings | 309,667 | 263,007 | 259,509 | 262,940 | 258,113 | ||||||||||||||
| Total stockholders’ equity | 1,662,550 | 1,653,427 | 1,643,680 | 1,709,117 | 1,702,757 | ||||||||||||||
| For the Three Months Ended | |||||||||||||||||||
| December 31, 2025 | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 | |||||||||||||||
| Selected Operating Data: | |||||||||||||||||||
| Interest income | $ | 171,732 | $ | 162,194 | $ | 154,825 | $ | 153,703 | $ | 159,620 | |||||||||
| Interest expense | 76,454 | 71,537 | 67,189 | 67,051 | 76,291 | ||||||||||||||
| Net interest income | 95,278 | 90,657 | 87,636 | 86,652 | 83,329 | ||||||||||||||
| Provision for credit losses (excluding Spring Garden) | 3,700 | 4,092 | 3,039 | 5,340 | 2,041 | ||||||||||||||
| Spring Garden opening provision for credit losses | — | — | — | — | 1,426 | ||||||||||||||
| Net interest income after provision for credit losses | 91,578 | 86,565 | 84,597 | 81,312 | 79,862 | ||||||||||||||
| Other income (excluding equity investments) | 9,181 | 12,311 | 11,245 | 11,048 | 12,237 | ||||||||||||||
| Net gain (loss) on equity investments | 230 | (7 | ) | 488 | 205 | (5 | ) | ||||||||||||
| Operating expenses (excluding non-core operations) | 71,227 | 72,390 | 71,474 | 64,294 | 64,739 | ||||||||||||||
| Restructuring charges | 7,379 | 4,147 | — | — | — | ||||||||||||||
| Credit risk transfer execution expense | 1,283 | — | — | — | — | ||||||||||||||
| FDIC special assessment | — | (210 | ) | — | — | — | |||||||||||||
| Merger related expenses | 4,253 | — | — | — | 110 | ||||||||||||||
| Income before provision for income taxes | 16,847 | 22,542 | 24,856 | 28,271 | 27,245 | ||||||||||||||
| Provision for income taxes | 3,754 | 5,156 | 5,771 | 6,808 | 5,083 | ||||||||||||||
| Net income | 13,093 | 17,386 | 19,085 | 21,463 | 22,162 | ||||||||||||||
| Net income (loss) attributable to non-controlling interest | — | 56 | 39 | (46 | ) | 253 | |||||||||||||
| Net income attributable to OceanFirst Financial Corp. | $ | 13,093 | $ | 17,330 | $ | 19,046 | $ | 21,509 | $ | 21,909 | |||||||||
| Net income available to common stockholders | $ | 13,093 | $ | 17,330 | $ | 16,200 | $ | 20,505 | $ | 20,905 | |||||||||
| Diluted earnings per share | $ | 0.23 | $ | 0.30 | $ | 0.28 | $ | 0.35 | $ | 0.36 | |||||||||
| Net accretion/amortization of purchase accounting adjustments included in net interest income | $ | 222 | $ | 510 | $ | 420 | $ | 219 | $ | 20 | |||||||||
| At or For the Three Months Ended | |||||||||||||||||||
| December 31, 2025 | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 | |||||||||||||||
| Selected Financial Ratios and Other Data (1) (2): | |||||||||||||||||||
| Performance Ratios (Annualized): | |||||||||||||||||||
| Return on average assets (3) | 0.36 | % | 0.51 | % | 0.49 | % | 0.62 | % | 0.61 | % | |||||||||
| Return on average tangible assets (3) (4) | 0.38 | 0.53 | 0.51 | 0.65 | 0.64 | ||||||||||||||
| Return on average stockholders' equity (3) | 3.12 | 4.15 | 3.86 | 4.85 | 4.88 | ||||||||||||||
| Return on average tangible stockholders' equity (3) (4) | 4.57 | 6.13 | 5.66 | 7.05 | 7.12 | ||||||||||||||
| Return on average tangible common equity (3) (4) | 4.57 | 6.13 | 5.66 | 7.40 | 7.47 | ||||||||||||||
| Stockholders' equity to total assets | 11.42 | 11.54 | 12.33 | 12.84 | 12.69 | ||||||||||||||
| Tangible stockholders' equity to tangible assets (4) | 8.09 | 8.12 | 8.67 | 9.19 | 9.06 | ||||||||||||||
| Tangible common equity to tangible assets (4) | 8.09 | 8.12 | 8.67 | 8.76 | 8.62 | ||||||||||||||
| Net interest rate spread | 2.36 | 2.36 | 2.37 | 2.35 | 2.11 | ||||||||||||||
| Net interest margin | 2.87 | 2.91 | 2.91 | 2.90 | 2.69 | ||||||||||||||
| Operating expenses to average assets | 2.33 | 2.23 | 2.16 | 1.96 | 1.90 | ||||||||||||||
| Efficiency ratio (5) | 80.37 | 74.13 | 71.93 | 65.67 | 67.86 | ||||||||||||||
| Loans-to-deposits | 100.60 | 101.20 | 99.50 | 99.50 | 100.50 | ||||||||||||||
| At or For the Year Ended December 31, | |||||
| 2025 | 2024 | ||||
| Performance Ratios: | |||||
| Return on average assets (3) | 0.49 | % | 0.71 | % | |
| Return on average tangible assets (3) (4) | 0.51 | 0.74 | |||
| Return on average stockholders' equity (3) | 4.00 | 5.70 | |||
| Return on average tangible stockholders' equity (3) (4) | 5.86 | 8.24 | |||
| Return on average tangible common equity (3) (4) | 5.86 | 8.65 | |||
| Net interest rate spread | 2.36 | 2.13 | |||
| Net interest margin | 2.90 | 2.72 | |||
| Operating expenses to average assets | 2.18 | 1.82 | |||
| Efficiency ratio (5) | 73.16 | 63.99 | |||
| At or For the Three Months Ended | |||||||||||||||||||
| December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||
| 2025 | 2025 | 2025 | 2025 | 2024 | |||||||||||||||
| Trust and Asset Management: | |||||||||||||||||||
| Wealth assets under administration and management (“AUA/M”) | $ | 142,030 | $ | 143,708 | $ | 141,921 | $ | 149,106 | $ | 147,956 | |||||||||
| Nest Egg AUA/M | 485,606 | 463,906 | 462,664 | 453,803 | 431,434 | ||||||||||||||
| Total AUA/M | 627,636 | 607,614 | 604,585 | 602,909 | 579,390 | ||||||||||||||
| Per Share Data: | |||||||||||||||||||
| Cash dividends per common share | $ | 0.20 | $ | 0.20 | $ | 0.20 | $ | 0.20 | $ | 0.20 | |||||||||
| Book value per common share at end of period | 28.97 | 28.81 | 28.64 | 29.27 | 29.08 | ||||||||||||||
| Tangible book value per common share at end of period (4) | 19.79 | 19.52 | 19.34 | 19.16 | 18.98 | ||||||||||||||
| Common shares outstanding at end of period | 57,390,569 | 57,388,603 | 57,383,975 | 58,383,525 | 58,554,871 | ||||||||||||||
| Preferred shares outstanding at end of period | — | — | — | 57,370 | 57,370 | ||||||||||||||
| Number of full-service customer facilities: | 41 | 40 | 40 | 39 | 39 | ||||||||||||||
| Quarterly Average Balances | |||||||||||||||||||
| Total securities | $ | 2,339,646 | $ | 1,990,917 | $ | 1,917,114 | $ | 2,003,206 | $ | 2,116,911 | |||||||||
| Loans receivable, net | 10,724,240 | 10,278,610 | 10,036,785 | 10,013,383 | 10,018,742 | ||||||||||||||
| Total interest-earning assets | 13,157,360 | 12,363,997 | 12,065,530 | 12,112,028 | 12,331,483 | ||||||||||||||
| Total goodwill and intangibles | 529,006 | 533,835 | 534,734 | 535,657 | 534,942 | ||||||||||||||
| Total assets | 14,337,776 | 13,551,194 | 13,248,073 | 13,311,893 | 13,545,052 | ||||||||||||||
| Time deposits | 2,270,671 | 2,105,734 | 2,175,564 | 1,916,109 | 2,212,750 | ||||||||||||||
| Total deposits (including non-interest-bearing deposits) | 11,122,681 | 10,263,523 | 10,176,895 | 10,030,051 | 10,286,489 | ||||||||||||||
| Total borrowings | 1,350,390 | 1,432,196 | 1,201,878 | 1,343,757 | 1,328,016 | ||||||||||||||
| Total interest-bearing liabilities | 10,717,860 | 9,975,062 | 9,739,728 | 9,775,836 | 9,987,129 | ||||||||||||||
| Non-interest bearing deposits | 1,755,211 | 1,720,657 | 1,639,045 | 1,597,972 | 1,627,376 | ||||||||||||||
| Stockholders’ equity | 1,665,201 | 1,655,893 | 1,682,647 | 1,715,134 | 1,703,326 | ||||||||||||||
| Tangible stockholders’ equity (4) | 1,136,195 | 1,122,058 | 1,147,913 | 1,179,477 | 1,168,384 | ||||||||||||||
| Quarterly Yields and Costs | |||||||||||||||||||
| Total securities | 4.10 | % | 3.83 | % | 3.82 | % | 3.99 | % | 4.09 | % | |||||||||
| Loans receivable, net | 5.43 | 5.49 | 5.41 | 5.37 | 5.38 | ||||||||||||||
| Total interest-earning assets | 5.19 | 5.21 | 5.14 | 5.13 | 5.15 | ||||||||||||||
| Time deposits | 3.68 | 3.73 | 3.74 | 3.91 | 4.34 | ||||||||||||||
| Total cost of deposits (including non-interest-bearing deposits) | 2.13 | 2.06 | 2.06 | 2.06 | 2.32 | ||||||||||||||
| Total borrowings | 4.95 | 5.07 | 4.98 | 4.83 | 4.91 | ||||||||||||||
| Total interest-bearing liabilities | 2.83 | 2.85 | 2.77 | 2.78 | 3.04 | ||||||||||||||
| Net interest rate spread | 2.36 | 2.36 | 2.37 | 2.35 | 2.11 | ||||||||||||||
| Net interest margin | 2.87 | 2.91 | 2.91 | 2.90 | 2.69 | ||||||||||||||
| (1) | With the exception of end of quarter ratios, all ratios are based on average daily balances. |
| (2) | Performance ratios for each period are presented on a GAAP basis and include non-core operations. Refer to “Other Items - Non-GAAP Reconciliation.” |
| (3) | Ratios for each period are based on net income available to common stockholders. |
| (4) | Tangible stockholders’ equity and tangible assets exclude goodwill and other intangibles. Tangible common equity (also referred to as “tangible book value”) excludes goodwill, intangibles and preferred equity. Refer to “Other Items - Non-GAAP Reconciliation.” |
| (5) | Efficiency ratio represents the ratio of operating expenses to the aggregate of other income and net interest income. |
| OceanFirst Financial Corp. OTHER ITEMS (dollars in thousands, except per share amounts) | |||||||||||||||||||
| NON-GAAP RECONCILIATION | |||||||||||||||||||
| For the Three Months Ended | |||||||||||||||||||
| December 31, 2025 | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 | |||||||||||||||
| Core Earnings: | |||||||||||||||||||
| Net income available to common stockholders (GAAP) | $ | 13,093 | $ | 17,330 | $ | 16,200 | $ | 20,505 | $ | 20,905 | |||||||||
| Adjustments to exclude the impact of non-recurring and non-core items: | |||||||||||||||||||
| Spring Garden opening provision for credit losses | — | — | — | — | 1,426 | ||||||||||||||
| Net (gain) loss on equity investments | (230 | ) | 7 | (488 | ) | (205 | ) | 5 | |||||||||||
| Restructuring charges | 7,379 | 4,147 | — | — | — | ||||||||||||||
| Credit risk transfer execution expense | 1,283 | — | — | — | — | ||||||||||||||
| FDIC special assessment release | — | (210 | ) | — | — | — | |||||||||||||
| Merger related expenses | 4,253 | — | — | — | 110 | ||||||||||||||
| Income tax (benefit) expense on items | (2,254 | ) | (926 | ) | 115 | 49 | (388 | ) | |||||||||||
| Loss on redemption of preferred stock | — | — | 1,842 | — | — | ||||||||||||||
| Core earnings (Non-GAAP) | $ | 23,524 | $ | 20,348 | $ | 17,669 | $ | 20,349 | $ | 22,058 | |||||||||
| Income tax expense | $ | 3,754 | $ | 5,156 | $ | 5,771 | $ | 6,808 | $ | 5,083 | |||||||||
| Provision for credit losses | 3,700 | 4,092 | 3,039 | 5,340 | 3,467 | ||||||||||||||
| Less: non-core provision for credit losses | — | — | — | — | 1,426 | ||||||||||||||
| Less: income tax (benefit) expense on non-core items | (2,254 | ) | (926 | ) | 115 | 49 | (388 | ) | |||||||||||
| Core earnings PTPP (Non-GAAP) | $ | 33,232 | $ | 30,522 | $ | 26,364 | $ | 32,448 | $ | 29,570 | |||||||||
| Core diluted earnings per share | $ | 0.41 | $ | 0.36 | $ | 0.31 | $ | 0.35 | $ | 0.38 | |||||||||
| Core earnings PTPP diluted earnings per share | $ | 0.58 | $ | 0.54 | $ | 0.46 | $ | 0.56 | $ | 0.51 | |||||||||
| Core Ratios (Annualized): | |||||||||||||||||||
| Return on average assets | 0.65 | % | 0.60 | % | 0.53 | % | 0.62 | % | 0.65 | % | |||||||||
| Return on average tangible stockholders’ equity | 8.21 | 7.19 | 6.17 | 7.00 | 7.51 | ||||||||||||||
| Return on average tangible common equity | 8.21 | 7.19 | 6.17 | 7.34 | 7.89 | ||||||||||||||
| Efficiency ratio | 68.19 | 70.30 | 72.28 | 65.81 | 67.74 | ||||||||||||||
| For the Years Ended December 31, | |||||||
| 2025 | 2024 | ||||||
| Core Earnings: | |||||||
| Net income available to common stockholders (GAAP) | $ | 67,128 | $ | 96,049 | |||
| Adjustments to exclude the impact of non-recurring and non-core items: | |||||||
| Spring Garden opening provision for credit losses | — | 1,426 | |||||
| Net gain on equity investments | (916 | ) | (4,225 | ) | |||
| Net gain on sale of trust business | — | (2,600 | ) | ||||
| Restructuring charges | 11,526 | — | |||||
| Credit risk transfer execution expense | 1,283 | — | |||||
| FDIC special assessment (release) expense | (210 | ) | 418 | ||||
| Merger related expenses | 4,253 | 1,779 | |||||
| Income tax (benefit) expense on items | (3,016 | ) | 712 | ||||
| Loss on redemption of preferred stock | 1,842 | — | |||||
| Core earnings (Non-GAAP) | $ | 81,890 | $ | 93,559 | |||
| Income tax expense | $ | 21,489 | $ | 30,266 | |||
| Provision for credit losses | 16,171 | 7,689 | |||||
| Less: non-core provision for credit losses | — | 1,426 | |||||
| Less: income tax (benefit) expense on non-core items | (3,016 | ) | 712 | ||||
| Core earnings PTPP (Non-GAAP) | $ | 122,566 | $ | 129,376 | |||
| Core diluted earnings per share | $ | 1.43 | $ | 1.60 | |||
| Core earnings PTPP diluted earnings per share | $ | 2.13 | $ | 2.22 | |||
| Core Ratios: | |||||||
| Return on average assets | 0.60 | % | 0.69 | % | |||
| Return on average tangible stockholders’ equity | 7.14 | 8.03 | |||||
| Return on average tangible common equity | 7.14 | 8.43 | |||||
| Efficiency ratio | 69.15 | 64.57 | |||||
| December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||
| 2025 | 2025 | 2025 | 2025 | 2024 | |||||||||||||||
| Tangible Equity: | |||||||||||||||||||
| Total stockholders' equity | $ | 1,662,550 | $ | 1,653,427 | $ | 1,643,680 | $ | 1,709,117 | $ | 1,702,757 | |||||||||
| Less: | |||||||||||||||||||
| Goodwill | 517,481 | 523,308 | 523,308 | 523,308 | 523,308 | ||||||||||||||
| Intangibles | 9,046 | 9,934 | 10,834 | 11,740 | 12,680 | ||||||||||||||
| Tangible stockholders’ equity | 1,136,023 | 1,120,185 | 1,109,538 | 1,174,069 | 1,166,769 | ||||||||||||||
| Less: | |||||||||||||||||||
| Preferred stock | — | — | — | 55,527 | 55,527 | ||||||||||||||
| Tangible common equity | $ | 1,136,023 | $ | 1,120,185 | $ | 1,109,538 | $ | 1,118,542 | $ | 1,111,242 | |||||||||
| Tangible Assets: | |||||||||||||||||||
| Total assets | $ | 14,564,317 | $ | 14,324,664 | $ | 13,327,847 | $ | 13,309,278 | $ | 13,421,247 | |||||||||
| Less: | |||||||||||||||||||
| Goodwill | 517,481 | 523,308 | 523,308 | 523,308 | 523,308 | ||||||||||||||
| Intangibles | 9,046 | 9,934 | 10,834 | 11,740 | 12,680 | ||||||||||||||
| Tangible assets | $ | 14,037,790 | $ | 13,791,422 | $ | 12,793,705 | $ | 12,774,230 | $ | 12,885,259 | |||||||||
| Tangible stockholders' equity to tangible assets | 8.09 | % | 8.12 | % | 8.67 | % | 9.19 | % | 9.06 | % | |||||||||
| Tangible common equity to tangible assets | 8.09 | % | 8.12 | % | 8.67 | % | 8.76 | % | 8.62 | % | |||||||||
Company Contact:
Patrick S. Barrett
Chief Financial Officer
OceanFirst Financial Corp.
Tel: (732) 240-4500, ext. 27507
Email: pbarrett@oceanfirst.com
