OceanFirst公布二季度业绩，GAAP亏损但核心盈利与息差改善相互抵消

RED BANK, N.J., July 30, 2026 (GLOBE NEWSWIRE) --
OceanFirst Financial Corp. (NASDAQ:OCFC)
(the “Company”), the holding company for OceanFirst Bank N.A. (the “Bank”), reported a net loss of $3.0 million, or $0.04 per diluted share
1
, for the three months ended June 30, 2026, compared to net income available for common stockholders of $16.2 million, or $0.28 per diluted share, for the corresponding prior year period, and net income of $20.5 million, or $0.36 per diluted share, for the linked quarter. For the six months ended June 30, 2026, the Company reported net income available to common stockholders of $17.5 million, or $0.27 per diluted share, as compared to $36.7 million, or $0.63 per diluted share, for the corresponding prior year period. Selected performance metrics are as follows (refer to “Selected Quarterly Financial Data” for additional information):
For the Three Months Ended,
For the Six Months Ended,
Performance Ratios (Annualized):
June 30,
March 31,
June 30,
June 30,
June 30,
2026
2026
2025
2026
2025
Return on average assets
(0.07
)%
0.57
%
0.49
%
0.22
%
0.56
%
Return on average stockholders’ equity
(0.63
)
4.95
3.86
1.95
4.36
Return on average tangible stockholders’ equity
(a)
(0.88
)
7.22
5.66
2.79
6.36
Return on average tangible common equity
(a)
(0.88
)
7.22
5.66
2.79
6.36
Efficiency ratio
98.88
71.13
71.93
86.67
68.82
Net interest margin
3.05
2.93
2.91
2.99
2.91
(a)
Return on average tangible stockholders’ equity and return on average tangible common equity are non-GAAP (“generally accepted accounting principles”) financial measures. Refer to “Explanation of Non-GAAP Financial Measures” and tables included in this release for reconciliation and additional information regarding non-GAAP financial measures.
Core earnings
2
for the three and six months ended June 30, 2026 were $30.5 million and $54.9 million, respectively, or $0.43 and $0.86 per diluted share, an increase from $17.7 million and $38.0 million, respectively, or $0.31 and $0.66 per diluted share, for the corresponding prior year periods, and an increase from $24.3 million, while remaining flat at $0.43 per diluted share, for the linked quarter.
Core earnings PTPP
2
for the three and six months ended June 30, 2026 were $44.5 million and $78.9 million, respectively, or $0.63 and $1.24 per diluted share, an increase from $26.4 million and $58.8 million, respectively, or $0.46 and $1.02 per diluted share, for the corresponding prior year periods, and an increase from $34.4 million or $0.60 per diluted share, for the linked quarter. Selected performance metrics are as follows:
For the Three Months Ended,
For the Six Months Ended,
June 30,
March 31,
June 30,
June 30,
June 30,
Core Ratios
2
(Annualized):
2026
2026
2025
2026
2025
Return on average assets
0.71
%
0.68
%
0.53
%
0.70
%
0.58
%
Return on average tangible stockholders’ equity
8.92
8.56
6.17
8.76
6.59
Return on average tangible common equity
8.92
8.56
6.17
8.76
6.59
Efficiency ratio
66.20
66.76
72.28
66.44
69.06
Diluted earnings per share
$
0.43
$
0.43
$
0.31
$
0.86
$
0.66
PTPP diluted earnings per share
0.63
0.60
0.46
1.24
1.02
Key developments for the quarter, compared to the linked quarter, are described below:
Organic Growth:
The Company generated continued organic growth across its legacy portfolio, with commercial loans increasing $154 million, or 2%, non-interest bearing deposits increasing $101 million, or 6%, and $150 million of deposit growth from Premier Banking teams, reflecting the Company’s focus on core relationships. These results underscore the continued strength of the core growth initiatives, which the Flushing franchise will further bolster.
Net Interest Margin Expansion:
Net interest margin increased 12 basis points to 3.05% from 2.93%, and net interest income increased by $24.3 million to $120.7 million.
Flushing Acquisition:
On June 1, 2026, the Company completed its acquisition of Flushing Financial Corporation (“Flushing”), the holding company of Flushing Bank. Flushing added $8.69 billion to total assets, $6.19 billion to loans and loans held for sale, and $7.44 billion to deposits. Flushing added 30 retail branches across New York City and Long Island.
Balance
Sheet Repositioning
:
The Company sold $1.31 billion of multifamily loans from the Flushing acquisition at a price of 92.25% and invested the $1.20 billion of net proceeds into highly-liquid, investment grade securities. The repositioning reduces commercial real estate concentration by approximately 50 percentage points to 381%
3
, while increasing liquidity as indicated by on-hand liquidity
4
increasing to 11.5% of assets and the loan-to-deposit ratio falling to 91.60%. Additionally, the allowance for credit losses increased to 1.29% of total loans receivable.
Operating Expenses:
The Company anticipates full integration of Flushing’s operations and systems in the third quarter of 2026. The resulting operating synergies are expected to improve efficiency and reduce operating expenses in future periods.
Chief Executive Officer, Christopher D. Maher, commented on the Company’s results, “We are pleased to see continued momentum in our core business and to have welcomed Flushing into the OceanFirst family during the quarter. Full integration and the rebranding of Flushing branches is scheduled to occur in the third quarter of 2026, allowing for the realization of synergies well before year-end. We look forward to building on the strong customer relationships Flushing has developed over the years.” Mr. Maher added, “The execution of the loan sale reduced the Company’s exposure to rent-regulated properties in New York City. These actions reflect our commitment to maintain a strong balance sheet and an enhanced liquidity profile, positioning the combined organization for sustainable, long-term growth.”
The Company’s Board of Directors declared its 118
th
consecutive quarterly cash dividend on common stock. The quarterly cash dividend on common stock of $0.20 per share will be paid on August 21, 2026, to common stockholders and NVCE stockholders of record on August 10, 2026.
1
The number of shares outstanding and all common share-related calculations, including earnings per share, book value per share, and tangible book value per share, are calculated using both common stock and non-voting common equivalent (“NVCE”) stock, which are participating securities. All NVCE shares presented in this document are reported on an as-converted common stock equivalent basis.
2
Core earnings and core earnings before income taxes and provision for credit losses (“PTPP” or “Pre-Tax-Pre-Provision”), and ratios derived therefrom, are non-GAAP financial measures that exclude certain non-core items. Refer to “Explanation of Non-GAAP Financial Measures” and “Other Items - Non-GAAP Reconciliation” tables for additional information regarding non-GAAP financial measures.
3
Reflects the bank-level regulatory CRE concentration ratio, calculated as regulatory commercial real estate divided by Tier 1 capital plus the ACL.
4
On-hand liquidity equals cash, unpledged securities and funding capacity at the Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”) Discount Window.
Results of Operations
On June 1, 2026, the Company completed its acquisition of Flushing and its results of operations from June 1, 2026 through June 30, 2026 are included in the consolidated results for the three and six months ended June 30, 2026, but are not included in the results of operations for the corresponding prior year periods. Further, the current quarter included $42.8 million of non-recurring merger-related expenses for the Flushing acquisition, representing $33.6 million net of tax, or $0.48 per share.
Net Interest Income and Margin
Three months ended June 30, 2026
vs.
June 30, 2025
Net interest income increased to $120.7 million, from $87.6 million, reflecting the net impact of the interest rate environment and the acquisition of Flushing, which added $19.1 million of net