OceanFirst Financial Q1 2026: Strong Earnings & Merger Progress

OceanFirst Financials Q1 2026 earnings showcase solid gains, with GAAP earnings per share up by a penny and core earnings per share surging by 23% to $0.88. Net interest income grew by $10 million, or 11%, driven by larger loans and a 2.93% net interest margin. Loans increased by $92 million, fueled by $429 million in originations, while deposits rose by $192 million. Asset quality remains strong, with special mention and substandard loans at 1.5% of total, below their ten-year average. Core operating expenses decreased by $2.1 million to $69 million, aided by outsourcing residential lending. Capital is robust, with a 10.7% common equity Tier one ratio and a tangible book value per share of $19.86. The company declared its 17th consecutive quarterly dividend of $0.20 per share. Looking ahead, the merger with Flushing Financial is progressing, with plans for a 2026 close and branch integration. OceanFirst aims for mid- to high-single-digit loan and deposit growth, a net interest margin above 3% later this year, and expenses between $70-71 million quarterly. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/f15d02d27345c02f