Earnings ·
OceanFirst Financial Corp. reported a net loss of $3.0 million, or $0.04 per diluted share, for the quarter ended June…
OCFCOceanfirst Financial Corp
OceanFirst Financial Corp. reported a net loss of $3.0 million, or $0.04 per diluted share, for the quarter ended June 30, 2026, compared to net income of $16.2 million in the prior year period. The results were significantly impacted by $42.8 million in non-recurring merger-related expenses from the acquisition of Flushing Financial Corporation, which closed on June 1, 2026. Total assets increased to $23.3 billion following the acquisition, while the company sold $1.31 billion of multifamily loans at a price of 92.25% to reduce commercial real estate concentration. The Board declared a regular quarterly cash dividend of $0.20 per share, payable on August 21, 2026, to shareholders of record as of August 10, 2026. OceanFirst Financial Corp. operates in the banking industry and provides commercial and residential financing, treasury management, and deposit services through its subsidiary, OceanFirst Bank.