Oceanfirst Financial Corp. (OCFC)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$442.2M

Revenue growth

13.5%

Net income, last twelve months

$47.9M

Earnings per share

$0.85

Operating margin

17.7%

Net margin

10.8%

Free cash flow

$112.7M

Return on equity

2.0%

Market value

$1.7B

Price to earnings

20.8x

Dividend yield

4.5%

Cash

$274.1M

Debt

$2.3B

Debt to equity

0.95

Shares outstanding

96.6M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the third quarter of 2026 results, filed 27 October 2026.

• GAAP net income available to common fell. Net income available to common stockholders was $16.5 million, or $0.17 per diluted share, against $17.3 million, or $0.30, a year earlier. The linked quarter was a $3.0 million loss, or $0.04 per diluted share.
• Core earnings rose from linked quarter. Core earnings were $46.9 million, or $0.48 per diluted share, and core earnings PTPP were $70.8 million, or $0.72 per diluted share, in the third quarter.
• Nine-month earnings below prior year. Nine-month net income available to common stockholders was $33.9 million, or $0.45 per diluted share, against $54.0 million, or $0.94, a year earlier. Nine-month core earnings were $101.8 million.
• Core return and efficiency ratios. Core return on average assets was 0.80%, against 0.71% in the linked quarter. GAAP return on average assets was 0.28%, and the core efficiency ratio was 61.75%.
• Net interest income up year over year. Net interest income was $172.1 million, up from $90.7 million a year earlier and $120.7 million in the linked quarter. Management attributed the increase to the Flushing acquisition and the rate environment.
• Net interest margin rose to 3.18%. Net interest margin was 3.18%, from 3.05% in the linked quarter and 2.91% a year earlier. Purchase accounting accretion contributed 0.16% and prepayment fees 0.02%. The yield on interest-earning assets was 5.57%.
• Funding costs rose with acquired deposits. The cost of interest-bearing liabilities was 2.92%, from 2.85%. The cost of total deposits was 2.17%, from 2.06%, mainly from a full quarter of higher-cost Flushing deposits.
• Loans grew on commercial lending. Total loans rose $215.7 million to $16.49 billion, with commercial loan growth of $325.0 million. The loan-to-deposit ratio was 91.2%, from 91.6% in the linked quarter.
• Commercial originations up 15%. Commercial loan originations were $734.8 million, up from $641.5 million in the linked quarter. The commercial loan pipeline at quarter end was $541.2 million at a 7.00% average yield.
• Deposits rose with time deposit growth. Deposits reached $18.1 billion. Time deposits were 24.1% of total deposits, and brokered time deposits were $1.05 billion at quarter end.
• Residential originations discontinued. Net gain on sales of loans was $217,000, down from $900,000 a year earlier. Management attributed the decline to the discontinuation of residential loan originations and the title business disposition.
• Provision steady at $4.3 million. Provision for credit losses was $4.3 million, against $4.1 million a year earlier and $4.0 million in the linked quarter. Net charge-offs were $1.5 million, or 0.04% annualized.
• Non-performing loans rose on acquired loans. Non-performing loans were $140.7 million, or 0.85% of total loans, from $27.8 million at December 31, 2025. Excluding PCD loans, non-performing loans were $60.9 million.
• Criticized loans rose on re-risked Flushing loans. Criticized, classified and other real estate owned totaled $529.6 million, from $122.1 million. Purchased with credit deterioration loans from Flushing totaled $727.1 million.

Company events

The newest 8-K filings of 339 held.

Every filing

The newest filings with the SEC of 743 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Trades by members of the House

From each member's periodic transaction report.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

251 funds held it at 30 Jun 2026: 161 added and 39 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• JPMorgan Chase & Co. (JPM): revenue $199.4B, market value $902.3B
• Bank of America Corp. (BAC): revenue –, market value $357.1B
• Wells Fargo & Company (WFC): revenue $87.2B, market value $251.3B
• Citigroup Inc. (C): revenue $91.4B, market value $208.2B
• Capital One Financial Corp. (COF): revenue $62.0B, market value $125.7B
• Mizuho Financial Group Inc. (MFG): revenue $29.9B, market value $118.8B
• U.S. Bancorp (USB): revenue $29.6B, market value $92.9B
• PNC Financial Services Group, Inc. (PNC): revenue $25.0B, market value $91.1B
• Truist Financial Corp. (TFC): revenue $19.4B, market value $58.1B
• Huntington Bancshares Inc. (HBAN): revenue $10.4B, market value $31.7B

What the company does

OceanFirst Financial Corp is a Delaware holding company that transacts the vast majority of its business through its wholly owned subsidiary, OceanFirst Bank. The bank is a regional community bank with its headquarters in Toms River, New Jersey, and an administrative office in Red Bank, New Jersey. It runs 41 branch offices across central and southern New Jersey and in the New York City and Philadelphia metropolitan areas. It also operates commercial loan production offices in several other cities. The bank had 954 employees at 31 December 2025.

How the bank makes money

The bank's principal business is originating loans, mainly commercial real estate and other commercial loans, which the filing says have become a key focus. Its revenues come principally from interest on loans and, to a lesser extent, interest on debt and equity securities. It also earns income from bankcard services, trust and fiduciary services, deposit account services, mortgage banking, bank owned life insurance and commercial loan swap income. Net interest income, the gap between interest earned on loans and investments and interest paid on deposits and borrowings, is the main driver of results.

What it lends

- Investor owned commercial real estate, multi-family and construction loans made up 49.1% of total loans. - Commercial and industrial loans made up 20.1%, of which 8.9% were secured by real estate used by the borrowing business and 11.1% were not secured by real estate. - Residential real estate loans made up 29.0%. - Consumer loans, mostly home equity loans and lines of credit, made up 1.8%.

Commercial loans in total were 69.2% of loans. Within investor commercial real estate, collateral by property type was retail 23%, office 22%, multi-family 20% and industrial and warehouse 16%. By location it was New York 30%, Pennsylvania and Delaware 28% and New Jersey 26%. Of all loans, 43.9% had adjustable interest rates.

The bank also runs an interest rate swap program that lets commercial borrowers convert an adjustable-rate loan to a fixed rate. It sells an offsetting swap to an investment-grade national bank so it does not keep the fixed-rate risk.

On 15 October 2025 the bank stopped originating residential and consumer loans. It entered a partnership with a national mortgage banking company to serve customers who want a residential mortgage. The company says its path forward includes moving away from reliance on commercial real estate and focusing future growth mainly on commercial and industrial lending.

Where its funding comes from

The bank's primary sources of funds are deposits, principal and interest payments on loans and investments, Federal Home Loan Bank advances and other borrowings. Deposits come from retail, government and business customers. They include money market, savings, interest-bearing checking and non-interest-bearing accounts, and time deposits, including brokered deposits. Most deposits are gathered near its branch offices, and fewer through digital channels. Time deposits were 22.5% of total deposits at year end. Estimated adjusted uninsured deposits were 16.8% of total deposits. The bank also holds a securities portfolio, which it views mainly as a source of income and liquidity. Most of its mortgage-backed securities are issued or guaranteed by US government agencies.

Where it operates and who it competes with

The bank serves central and southern New Jersey, where commuters to New York City and Philadelphia and many shore vacation homes are part of the market. It also has commercial teams in metropolitan markets from Massachusetts through Virginia. The filing names Boston, Northern Virginia and Baltimore as focused expansion markets. For loans it competes with commercial banks, savings banks, credit unions, mortgage banking companies, financial technology companies, insurance companies, private lenders and government sponsored enterprises. For deposits it competes with banks, credit unions, money market funds, brokerage firms and others. Many competitors are larger. The bank says it sets itself apart with teams of local financial experts in each market, personalized accounts and local decision-making.

Regulation and subsidiaries

The company is a bank holding company and a financial holding company supervised by the Federal Reserve Board. The bank is supervised mainly by the OCC, with the FDIC as deposit insurer. It is also examined by the CFPB because its assets exceed 10 billion dollars. The bank's most recent Community Reinvestment Act rating from the OCC was Outstanding. Subsidiaries include OceanFirst Risk Management, a Nevada captive insurance company, and Spring Garden Capital Group, acquired on 1 October 2024 to expand specialty finance offerings.

Its people and a pending merger

Of the 954 employees, 898 work full time and 56 part time. Average tenure was over seven years. Employees receive up to eight hours of paid volunteer time each year. The OceanFirst Foundation, established in 1996, funds local health, education, housing, youth and arts programs.

On 29 December 2025 the company signed an agreement to acquire Flushing Financial Corporation, with each Flushing share converting into 0.85 of a share of the company. Flushing Bank would then merge into OceanFirst Bank. The company says the parties anticipate closing in the second quarter of 2026, subject to regulatory and stockholder approvals. At the same time, affiliates of funds managed by Warburg agreed to invest in the company's equity at the closing of the mergers.

*From OceanFirst Financial's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1004702/000100470226000015/ocfc-20251231.htm)*

From the company's 10-K.