OceanFirst Financial | 8-K: FY2026 Q2 Revenue: USD 131.33 M

Revenue: As of FY2026 Q2, the actual value is USD 131.33 M.

EPS: As of FY2026 Q2, the actual value is USD -0.04, beating the estimate of USD -0.3129.

EBIT: As of FY2026 Q2, the actual value is USD -2.533 M.

Dividend Declaration

OceanFirst Financial Corp. declared a regular quarterly cash dividend of $0.20 per share on its outstanding common stock, payable on August 21, 2026, to stockholders of record as of August 10, 2026.

Net Interest Income (NII)

Net interest income for OceanFirst Financial Corp. was $120,730 thousand in Q2-26, marking an increase of $24 million (25%) from the linked quarter and $33 million (38%) compared to Q2-25. Excluding the impact of the Flushing acquisition, NII growth was 5% compared to Q1-26 and 15% compared to Q2-25. The net interest margin (NIM) was 3.05% in Q2-26, an increase of 12 basis points (bps) compared to Q1-26 and 14 bps compared to Q2-25.

Core Non-Interest Expense

Core non-interest expenses for Q2-26 were $87,165 thousand, an increase of $18.0 million (26%) from the linked quarter, primarily due to the Flushing acquisition. The Core Efficiency Ratio was 66.20% in Q2-26, while the Core Non-Interest Expense to Average Assets (Annualized) was 2.02%.

Capital Ratios

The CET1 Ratio remained robust at 10.7% in Q2-26, flat from the linked quarter. Tangible stockholders’ equity to tangible assets was 7.91% in Q2-26.

Loan Portfolio

Total loans grew by $5.1 billion (46%) compared to Q1-26 and $6.1 billion (60%) compared to Q2-25, largely driven by the Flushing acquisition. Excluding Flushing, total commercial loan growth was 2% compared to Q1-26. Commercial loan originations increased by 50% to $642 million compared to the linked quarter, and the forward pipeline totaled $409 million at Q2-26. Non-Depository Financial Institution (NDFI) loan balances were minimal at $416 million (approximately 2.6% of total loans) at Q2-26. The average loan yield for Q2-26 was 5.55%.

Deposits

Deposits increased by $6.6 billion, primarily due to acquired deposits from Flushing. Non-interest bearing deposits increased $101 million (6%) compared to Q1-26, while brokered deposits decreased - $192 million. The average cost of deposits for Q2-26 was 2.26%.

Asset Quality

Non-performing loans (NPL) to total loans were 0.33% in Q2-26, and non-performing assets (NPA) to total assets were 0.38%. Criticized loans as a percentage of total loans increased to 3.12% in Q2-26, impacted by the Flushing acquisition. The Allowance for Credit Losses (ACL) as a percentage of total loans was 1.29% in Q2-26. Net charge-offs to average loans (annualized) were 0.05% in Q2-26, and the provision for credit loss expense was $4,002 thousand. OceanFirst Financial Corp. sold $1.3 billion of Flushing’s multifamily loan portfolio at a sale price of 92.25%, reducing CRE concentration to 381% and rent-regulated loans to total assets to 2.5%.

Other Key Financial Metrics

Core Return on Average Assets (ROAA) was 0.71%, and Core Return on Average Tangible Common Equity (ROTCE) was 8.92%. Tangible book value per common share was $18.19 in Q2-26, a decrease of - $1.15 (6%) from Q2-25, attributed to the Flushing acquisition.

Outlook / Guidance

OceanFirst Financial Corp. expects loans to grow 1-2% by year-end 2026, driven by the Commercial & Industrial (C&I) vertical, with credit remaining benign. Deposits are anticipated to be consistent with loan growth, maintaining a loan-to-deposit ratio of less than or equal to 95%. The net interest margin is projected to be between 3.07% and 3.12% for Q3-26 and 3.09% to 3.14% for Q4-26, with operating expenses expected to be $120-$125 million in Q3-26 and $110-$115 million in Q4-26.