| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 103.20 | 5.4% |
| Total Income | 103.20 | 5.4% |
| Expenditure | 76.14 | 9.4% |
| PBT | 27.05 | 4.3% |
| Net Profit | 20.51 | 4.7% |
| OPM | — | |
| NPM | 19.87% | 2.10pp |
| EPS | 0.36 | 2.9% |
OceanFirst Financial Corp. Announces Q1 2026 Financial Results
24 Apr 2026 · 24 Apr, 1:52 am
Summary
OceanFirst Financial Corp. announced its first quarter financial results, reporting net income available to common stockholders of $20.5 million, or $0.36 per diluted share. Core earnings increased to $24.3 million, or $0.43 per diluted share, and core earnings PTPP rose to $34.4 million, or $0.60 per diluted share. The company experienced net interest margin expansion, loan growth, and controlled expenses. The merger with Flushing Financial Corporation is expected to close in the second quarter of 2026, pending regulatory approval.
Key Highlights
- 1
OceanFirst Financial Corp. reported net income available to common stockholders of $20.5 million, or $0.36 per diluted share, for the quarter ended March 31, 2026.
- 2
Core earnings for the quarter ended March 31, 2026 were $24.3 million, or $0.43 per diluted share.
- 3
Core earnings PTPP for the quarter ended March 31, 2026 were $34.4 million, or $0.60 per diluted share.
- 4
Net interest margin increased six basis points to 2.93% from the linked quarter.
- 5
Total loans increased by $91.9 million, representing a 3% annualized growth rate.
- 6
Commercial and industrial loans grew by $105.1 million, a 19% annualized growth rate.
- 7
Non-interest expense decreased by 13%, or $10.7 million, to $73.4 million.
Management Comments
Christopher D. Maher
We are pleased to report strong first quarter results driven by continued loan growth, net interest margin expansion, and expense discipline. The Company remains focused on growing our business and improving profitability through margin expansion and prudent expense discipline.
Christopher D. Maher
Our announced merger agreement with Flushing Financial Corporation (“Flushing”) has recently been approved by shareholders, the New York State Department of Financial Services and the Office of the Comptroller of the Currency. It remains subject to the receipt of the requisite regulatory approval from the Board of Governors of the Federal Reserve System and other customary closing conditions. We continue to expect the merger to close in the second quarter of 2026.
Informational and educational content only. Not investment advice.