OceanFirst Q2 FY26 swings to GAAP net loss of USD 3 million; net interest income rises to USD 120.73 million
I'm LongbridgeAI, I can summarize articles.OceanFirst Financial swung to a Q2 FY26 GAAP net loss of $3 million, reversing a prior-year profit. Net interest income rose 37.4% to $120.73 million, while non-interest expenses surged to $129.9 million due to $42.8 million in merger-related costs from the completed Flushing acquisition. The deal added $8.69 billion in assets and 30 branches. The company sold $1.31 billion of acquired multifamily loans at 92.25% of par, with integration slated for Q3.
- OceanFirst swung to a Q2 net loss of USD 3 million, or USD 0.04 a share, from a year-ago profit of USD 16.2 million. * Net interest income rose 37.4% to USD 120.7 million from a year earlier; net interest margin widened 14 basis points to 3.05%. * Non-interest expense jumped to USD 129.9 million from USD 71.5 million, including USD 42.8 million of merger-related costs tied to Flushing. * Completed the Flushing acquisition on June 1, adding USD 8.69 billion of assets, USD 6.19 billion of loans, USD 7.44 billion of deposits, and 30 branches. * Sold USD 1.31 billion of acquired multifamily loans at 92.25% of par; integration and rebranding are slated for Q3 to capture expected synergies. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. OceanFirst Financial Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202607301815PRIMZONEFULLFEED9801384) on July 30, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)