OceanFirst Financial Corp. Announces Third Quarter Financial Results
OceanFirst reported Q3 2026 net income of $16.5 million, or $0.17 per diluted share, down from $0.30 a year ago, weighed down by $37.1 million of Flushing merger-related expenses. Core earnings rose to $46.9 million, or $0.48 per diluted share, from $0.36 a year ago, with net interest margin expanding to 3.18% from 2.91% and loans growing 5% annualized. The company completed its core system conversion for the Flushing integration in September, expects cost savings to begin in Q4 2026, and resumed excess capital accretion is anticipated.
Key figures
- Eps
- 0.17
- Eps Beat
- 0
- Revenue Yoy
- 0
- Cet1 ratio
- 10.6%
- Core eps q3
- 0.48
- Total loans
- $16.49 billion
- Total assets
- $23.37 billion
- Net income q3
- 16500000
- Total deposits
- $18.08 billion
- Core earnings q3
- 46900000
- Dividend per share
- 0.2
- Net interest margin
- 3.18%
- Nonperforming loans
- $140.7 million (0.85% of loans)
- Book value per share
- 24.32
- Core efficiency ratio
- 61.75%
- Efficiency ratio gaap
- 81.76%
- Core eps prior year q3
- 0.36
- Loan growth linked qtr
- $215.7 million (5% annualized)
- Net interest income q3
- 172100000
- Deposit growth linked qtr
- $319.3 million to $18.1 billion
- Merger related expenses q3
- 37100000
- Dividend consecutive quarters
- 119
- Tangible book value per share
- 18.08
- Provision for credit losses q3
- 4300000
AI analysis
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