OCEANFIRST FINANCIAL CORP

OceanFirst Financial Corp. reported a net loss of $3.0 million, or ($0.04) per diluted share, for the second quarter of 2026, a significant decrease from net income of $16.2 million ($0.28 per diluted share) in the prior year period. The company also declared a quarterly cash dividend of $0.20 per share. Key developments include the completion of the Flushing Financial Corporation acquisition on June 1, 2026, and the subsequent sale of $1.31 billion of multifamily loans to reduce commercial real estate concentration.

OceanFirst Financial Corp. reported a net loss of $3.0 million, or $0.04 per diluted share, for the second quarter of 2026, primarily due to $42.8 million in merger-related expenses. The company completed its acquisition of Flushing Financial Corporation on June 1, 2026, significantly increasing total assets to $23.27 billion and deposits to $17.76 billion. Strategic balance sheet repositioning included selling $1.31 billion in multifamily loans and reinvesting proceeds into liquid securities, improving liquidity and reducing commercial real estate concentration. The company also saw organic growth in commercial loans and non-interest bearing deposits, and an increase in net interest margin to 3.05%.

OceanFirst Financial Corp. announced it will release its second-quarter 2026 earnings on Thursday, July 30, 2026, after the market closes. Following the release, management will host a conference call on Friday, July 31, 2026, at 11:00 a.m. ET to discuss the quarterly operating performance. Details for the dial-in and webcast access were provided.

OCEANFIRST FINANCIAL CORP. filed an Amendment No. 1 to its Current Report on Form 8-K. This amendment was filed to correct the amount of loan collateral with rent-regulated exposure sold, changing the figure from $736 million to $836 million. The original Form 8-K, filed on June 29, 2026, remains unchanged except for this specific correction.

OceanFirst Financial Corp. announced the completion of the previously disclosed sale of $1.3 billion of multifamily loans. This portfolio, largely in the New York City metropolitan area and subject to rent regulations, was acquired through the recent merger with Flushing Financial Corporation. The company stated this strategic move rebalances its Commercial Real Estate and Multifamily exposure and significantly reduces its risk related to rent-regulated properties.

OceanFirst Financial Corp. announced that its subsidiary, OceanFirst Bank N.A., has completed the previously announced sale of $1.3 billion in multifamily loans. This strategic move aims to rebalance the bank's Commercial Real Estate and Multifamily exposure and significantly reduce its risk associated with NYC rent-regulated properties. The sold portfolio, largely in the New York City metropolitan area, included approximately 1,400 loans, with $736 million subject to rent regulations. Following the sale, the company's exposure to loans with greater than 50% rent-regulated units will be less than 2.5% of total assets.

OceanFirst Financial Corp. announced an agreement to sell $1.4 billion of multifamily loans, primarily acquired from its recent acquisition of Flushing Financial Corporation. This strategic move aims to reposition the balance sheet, significantly reduce the Bank's Commercial Real Estate concentration, and eliminate most of its exposure to rent-regulated properties in New York City. The sale is expected to be completed by the end of the second quarter, with proceeds used to purchase highly liquid, investment-grade securities.

OceanFirst Financial Corp. announced the completion of its merger with Flushing Financial Corporation, effective June 1, 2026. This strategic combination creates an approximately $23 billion regional bank with 71 retail branches across New Jersey, New York, Long Island, and Pennsylvania. Concurrently, OceanFirst also finalized a $225 million strategic investment from affiliates of Warburg Pincus LLC. John Buran, former President and CEO of Flushing, has joined OceanFirst as non-executive Chairman of the Board, which now comprises 17 directors.

OceanFirst Financial Corp. announced the completion of its merger with Flushing Financial Corporation, creating a scaled regional bank with 71 retail branches across New Jersey, New York, Long Island, and Pennsylvania. Concurrently, OceanFirst completed a $225 million strategic investment from Warburg Pincus. The combination aims to accelerate profitable growth and enhance value for clients and shareholders, with John Buran, former Flushing CEO, joining OceanFirst's board as non-executive Chairman.

OceanFirst Financial Corp. held its 2026 Annual Meeting on May 27, 2026, where stockholders approved the 2026 Stock Incentive Plan. All thirteen director nominees were elected for one-year terms, and an advisory vote to approve executive compensation also passed. Additionally, Deloitte & Touche LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2026.