OCEANFIRST FINANCIAL CORP

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.

OceanFirst Financial Corp. reported net income available to common stockholders of $20.5 million, or $0.36 per diluted share, for the first quarter of 2026. This represents a flat net income year-over-year but an increase in diluted EPS from $0.35, and a significant improvement from $13.1 million, or $0.23 per diluted share, in the prior linked quarter. The company saw an increase in net interest income to $96.4 million and an improved net interest margin of 2.93%. Total loans grew by $91.9 million, and non-interest expenses decreased by 13% quarter-over-quarter, though non-performing loans increased. The Board declared a quarterly cash dividend of $0.20 per share.

OceanFirst Financial Corp. reported strong financial results for Q1 2026, with core diluted EPS of $0.43 and net interest income of $96 million, an 11% increase year-over-year. The company saw a 3% annualized growth in total loans, driven by commercial and industrial loans, and a 1.7% increase in deposits. Non-interest expenses decreased by 13%, contributing to a core efficiency ratio of 66.76%. The pending merger with Flushing Financial Corporation has received most approvals and is awaiting Federal Reserve System approval.

OceanFirst Financial Corp. (OCFC) announced its Annual Meeting of Stockholders will be held virtually on May 27, 2026, at 8:00 a.m. ET. Stockholders will vote on the election of 13 directors, an advisory resolution on executive compensation, and the approval of the 2026 Stock Incentive Plan. The meeting will also include the ratification of Deloitte & Touche LLP as the independent auditor. The company highlighted the overwhelming stockholder approval of its plans to acquire Flushing Financial Corporation and its 116th consecutive quarterly common stock dividend payment.

OceanFirst Financial Corp. and Flushing Financial Corporation jointly announced the receipt of all necessary regulatory approvals for their proposed merger. This includes approvals from the Federal Reserve System, New York State Department of Financial Services, and the Office of the Comptroller of the Currency. With shareholder approvals already secured, the companies expect to close the merger no later than June 1, 2026. Additionally, OceanFirst announced its 2026 Annual Meeting of Stockholders will be held virtually on May 27, 2026.

OceanFirst Financial Corp. and Flushing Financial Corporation announced the receipt of all necessary regulatory approvals for their previously announced merger. The Federal Reserve, New York State Department of Financial Services, and Office of the Comptroller of the Currency have all granted their approvals, following earlier shareholder approvals from both companies. With no further regulatory hurdles, the merger is anticipated to close by June 1, 2026, subject to customary closing conditions. Additionally, OceanFirst announced its 2026 Annual Meeting of Stockholders will be held virtually on May 27, 2026.

OceanFirst Financial Corp. announced its financial results for the first quarter ended March 31, 2026, reporting net income available to common stockholders of $20. The company issued a press release on April 23, 2026, detailing these results. Additionally, OceanFirst Financial Corp. is scheduled to conduct presentations for current and prospective investors after April 23, 2026, making the presentation materials available on its website.