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OCFC News
OCFC Events
OceanFirst Reports Q2 Net Interest Margin of 3.05%
Reports Q2 net interest margin 3.05% vs. 2.93% in the previous quarter. Tangible book value per common share at end of period was $18.19 from $19.86 at previous quarter end. Common equity tier one capital ratio was 10.7%. CEO Christopher Maher commented, "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 Q3 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. 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."
OceanFirst Financial Files to Sell 22.77M Shares of Common Stock
OceanFirst Financial files to sell 22.77M shares of common stock for holders
OceanFirst and Flushing Merger Approved by Federal Reserve
OceanFirst Financial (OCFC) and Flushing Financial Corporation (FFIC) jointly announced the receipt of regulatory approval from the Board of Governors of the Federal Reserve System on April 24, to complete the proposed merger of Flushing with and into OceanFirst. The Federal Reserve approval follows recent approvals from the New York State Department of Financial Services and the Office of the Comptroller of the Currency on March 23, and April 6, respectively. All necessary regulatory approvals to complete the proposed transaction have now been received. In addition, as previously announced, both OceanFirst and Flushing received shareholder approval for the transaction on April 2, OceanFirst and Flushing expect to close the merger no later than June 1, subject to the satisfaction or waiver of the remaining customary closing conditions.
Q1 Tangible Book Value Per Share at $19.86
Reports Q1 tangible book value per share $19.86. Reports Q1 CET1 capital ratio 10.7%. Chairman and CEO, Christopher Maher, commented on the company's results, "We are pleased to report strong first quarter results driven by continued loan growth, net interest margin expansion, and expense discipline. The Company remains focused on growing our business and improving profitability through margin expansion and prudent expense discipline." Maher added, "Our announced merger agreement with Flushing Financial Corporation has recently been approved by shareholders, the New York State Department of Financial Services and the Office of the Comptroller of the Currency. It remains subject to the receipt of the requisite regulatory approval from the Board of Governors of the Federal Reserve System and other customary closing conditions. We continue to expect the merger to close in the second quarter of 2026."
OceanFirst and Flushing Merger Receives Shareholder Approval
OceanFirst Financial (OCFC) and Flushing Financial (FFIC) jointly announced the receipt of the requisite shareholder approvals for the previously announced combination of OceanFirst and Flushing, pursuant to the Agreement and Plan of Merger, dated December 29, 2025, by and among OceanFirst, Apollo Merger Sub Corp., a Delaware corporation and wholly-owned subsidiary of OceanFirst, and Flushing. Additionally, the New York State Department of Financial Services and the Office of the Comptroller of the Currency granted their requisite approvals of the proposed transaction on March 23, 2026, and April 6, 2026, respectively. The consummation of the proposed transaction remains subject to the receipt of the requisite regulatory approval from the Board of Governors of the Federal Reserve System and other customary closing conditions.
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