Oceanfirst Financial Corp 8-K, filed Oct 27, 2026
Oceanfirst Financial Corp (OCFC)
8-K
2026-10-27
For: 2026-10-27
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Added on
October 27, 2026
About this 8-K
Oceanfirst Financial Corp filed this 8-K on October 27, 2026.
OceanFirst Financial Corp reported net income available for common stockholders of $16.5 million, or $0.17 per diluted share, for the three months ended September 30, 2026. It declared a $0.20 per share dividend payable November 20, 2026. AI summary
Items reported
- Item 2.02: Financial results
- Item 7.01: Regulation FD disclosure
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): October 27, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation or organization) | (Commission File No.) | (IRS Employer Identification No.) | ||||||||||||
(Address of principal executive offices, including zip code)
(732 )240-4500
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol | Name of each exchange in which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 2.02RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On October 27, 2026, OceanFirst Financial Corp. (the “Company”) issued a press release announcing its financial results for the quarter ended September 30, 2026. That press release is attached to this Report as Exhibit 99.1. The information included in this item and the related presentation is being furnished to the SEC and shall not be deemed “filed” for any purpose.
ITEM 7.01 REGULATION FD DISCLOSURE
The Company is scheduled to make presentations to current and prospective investors after October 27, 2026. Attached as Exhibit 99.2 of this Form 8-K is a copy of the presentation which OceanFirst Financial Corp. will make available at these presentations and will post on its website at www.oceanfirst.com. The information included in this item and the related press release is being furnished to the SEC and shall not be deemed “filed” for any purpose.
ITEM 8.01OTHER EVENTS
In the press release described in Item 2.02, the Company announced that the Board of Directors declared a regular quarterly cash dividend on the Company’s outstanding common stock. The cash dividend will be in the amount of $0.20 per share and will be payable on November 20, 2026 to the stockholders of record at the close of business on November 9, 2026.
ITEM 9.01FINANCIAL STATEMENTS AND EXHIBITS
| (d) | EXHIBITS | |||||||
| Press Release dated | October 27, 2026 | |||||||
Text of written presentation which OceanFirst Financial Corp. intends to provide to current and prospective investors after October 27, 2026. | ||||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| OCEANFIRST FINANCIAL CORP. | ||||||||
| Dated: | October 27, 2026 | /s/ Patrick S. Barrett | ||||||
| Patrick S. Barrett | ||||||||
| Senior Executive Vice President and Chief Financial Officer | ||||||||
 | Press Release | |||||||
Exhibit 99.1
Company Contact:
Patrick S. Barrett
Chief Financial Officer
OceanFirst Financial Corp.
Tel: (732) 240-4500, ext. 27507
Email: pbarrett@oceanfirst.com
FOR IMMEDIATE RELEASE
OCEANFIRST FINANCIAL CORP.
ANNOUNCES THIRD QUARTER
FINANCIAL RESULTS
RED BANK, NEW JERSEY, October 27, 2026 - OceanFirst Financial Corp. (NASDAQ:OCFC) (the “Company”), the holding company for OceanFirst Bank N.A. (the “Bank”), reported net income available for common stockholders of $16.5 million, or $0.17 per diluted share1, for the three months ended September 30, 2026, as compared to $17.3 million, or $0.30 per diluted share, for the corresponding prior year period, and a net loss of $3.0 million, or $0.04 per diluted share, for the linked quarter. For the nine months ended September 30, 2026, the Company reported net income available to common stockholders of $33.9 million, or $0.45 per diluted share, as compared to $54.0 million, or $0.94 per diluted share, for the corresponding prior year period. Selected performance metrics are as follows (refer to “Selected Quarterly Financial Data” for additional information):
| For the Three Months Ended, | For the Nine Months Ended, | ||||||||||||||||||||||||||||
| Performance Ratios (Annualized): | September 30, | June 30, | September 30, | September 30, | September 30, | ||||||||||||||||||||||||
| 2026 | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||||||||
| Return (loss) on average assets | 0.28 | % | (0.07) | % | 0.51 | % | 0.25 | % | 0.54 | % | |||||||||||||||||||
| Return (loss) on average stockholders’ equity | 2.70 | (0.63) | 4.15 | 2.26 | 4.29 | ||||||||||||||||||||||||
Return (loss) on average tangible stockholders’ equity (a) | 3.63 | (0.88) | 6.13 | 3.14 | 6.28 | ||||||||||||||||||||||||
Return (loss) on average tangible common equity (a) | 3.63 | (0.88) | 6.13 | 3.14 | 6.28 | ||||||||||||||||||||||||
| Efficiency ratio | 81.76 | 98.88 | 74.13 | 84.51 | 70.64 | ||||||||||||||||||||||||
| Net interest margin | 3.18 | 3.05 | 2.91 | 3.07 | 2.91 | ||||||||||||||||||||||||
(a) Return (loss) on average tangible stockholders’ equity and return (loss) on average tangible common equity are non-GAAP (“generally accepted accounting principles”) financial measures. Refer to “Explanation of Non-GAAP Financial Measures” and tables included in this release for reconciliation and additional information regarding non-GAAP financial measures.
1 The number of shares outstanding and all common share-related calculations, including earnings per share, book value per share, and tangible book value per share, are calculated using both common stock and non-voting common equivalent (“NVCE”) stock, which are participating securities. All NVCE shares presented in this document are reported on an as-converted common stock equivalent basis.
Core earnings2 for the three and nine months ended September 30, 2026 were $46.9 million and $101.8 million, respectively, or $0.48 and $1.35 per diluted share, an increase from $20.3 million and $58.4 million, respectively, or $0.36 and $1.01 per diluted share, for the corresponding prior year periods, and an increase from $30.5 million, or $0.43 per diluted share, for the linked quarter.
Core earnings PTPP2 for the three and nine months ended September 30, 2026 were $70.8 million and $149.7 million, respectively, or $0.72 and $1.99 per diluted share, an increase from $30.5 million and $89.3 million, respectively, or $0.54 and $1.55 per diluted share, for the corresponding prior year periods, and an increase from $44.5 million, or $0.63 per diluted share, for the linked quarter. Selected performance metrics are as follows:
| For the Three Months Ended, | For the Nine Months Ended, | ||||||||||||||||||||||||||||
| September 30, | June 30, | September 30, | September 30, | September 30, | |||||||||||||||||||||||||
Core Ratios2 (Annualized): | 2026 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||||
| Return on average assets | 0.80 | % | 0.71 | % | 0.60 | % | 0.74 | % | 0.58 | % | |||||||||||||||||||
| Return on average tangible stockholders’ equity | 10.35 | 8.92 | 7.19 | 9.43 | 6.79 | ||||||||||||||||||||||||
| Return on average tangible common equity | 10.35 | 8.92 | 7.19 | 9.43 | 6.79 | ||||||||||||||||||||||||
| Efficiency ratio | 61.75 | 66.20 | 70.30 | 64.38 | 69.49 | ||||||||||||||||||||||||
| Diluted earnings per share | $ | 0.48 | $ | 0.43 | $ | 0.36 | $ | 1.35 | $ | 1.01 | |||||||||||||||||||
| PTPP diluted earnings per share | 0.72 | 0.63 | 0.54 | 1.99 | 1.55 | ||||||||||||||||||||||||
Key developments for the quarter, compared to the linked quarter, are described below:
•Loan Growth: Total loans increased $215.7 million, representing a 5% annualized growth rate, driven by $325.0 million of commercial loan growth. Commercial loan originations increased 15% to $734.8 million, from $641.5 million in the linked quarter.
•Deposit Growth: Total deposits increased $319.3 million to $18.1 billion from $17.8 billion.
2 Core earnings and core earnings before income taxes and provision for credit losses (“PTPP” or “Pre-Tax-Pre-Provision”), and ratios derived therefrom, are non-GAAP financial measures that exclude certain non-core items. Refer to “Explanation of Non-GAAP Financial Measures” and “Other Items - Non-GAAP Reconciliation” tables for additional information regarding non-GAAP financial measures.
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•Completion of Core Conversion: The Company successfully completed its core system conversion and integration activities in September, positioning the Company to realize anticipated cost savings beginning in the fourth quarter of 2026.
•Capital Outlook: With the completion of the core conversion and substantially all major integration activities, the Company expects to resume excess capital accretion in the fourth quarter of 2026.
Chief Executive Officer, Christopher D. Maher, commented on the Company’s results, “We are pleased with the increases in margin and profitability and the timely and successful completion of the Flushing integration. The integration of Flushing clients into OceanFirst was executed smoothly, allowing us to deliver a unified operating platform under the OceanFirst Bank brand. This achievement has allowed us to eliminate redundant back-office operating expenses, improve operational efficiencies, and launch our first advertising campaigns in the New York market.” Mr. Maher added, “With the integration complete, we are focused on leveraging the scale and capabilities of the combined company to enhance the customer experience and support long-term, profitable growth.”
The Company’s Board of Directors declared its 119th consecutive quarterly cash dividend on common stock. The quarterly cash dividend on common stock of $0.20 per share will be paid on November 20, 2026, to common stockholders and NVCE stockholders of record on November 9, 2026.
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Results of Operations
On June 1, 2026, the Company completed its acquisition of Flushing Financial Corporation and its wholly-owned subsidiary Flushing Bank (collectively, “Flushing”), and its results of operations from June 1, 2026 through September 30, 2026 are included in the consolidated results for the three and nine months ended September 30, 2026, but are not included in the results of operations for the corresponding prior year periods. The current quarter included $37.1 million of non-recurring merger-related expenses for the Flushing acquisition, representing $29.4 million net of tax, or $0.30 per share. Additionally, the current quarter included $5.5 million of non-recurring interest income related to payoffs of a non-performing investment and loan acquired from Flushing, including $4.0 million and $1.5 million of interest recoveries, respectively.
Net Interest Income and Margin
Three months ended September 30, 2026 vs. September 30, 2025
Net interest income increased to $172.1 million, from $90.7 million, reflecting the net impact of the acquisition of Flushing and the interest rate environment. Net interest margin increased to 3.18%, from 2.91%, which included the impact of purchase accounting accretion and prepayment fees of 0.16% and 0.02%, respectively, and the impact of purchase accounting on average interest-earning assets.
Average interest-earning assets increased by $9.13 billion, which was impacted by assets acquired from Flushing combined with increases in commercial loans and securities. The average yield for interest-earning assets increased to 5.57%, from 5.21%, primarily due to the net impact of the Flushing acquisition, including purchase accounting and recovery of interest income, as well as repricing of assets and new originations.
The cost of average interest-bearing liabilities increased to 2.92%, from 2.85%, primarily due to the full quarter impact of higher-cost deposits acquired from Flushing, partially offset by the repricing of deposits and, to a lesser extent, Federal Home Loan Bank (“FHLB”) advances. The total cost of
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deposits increased 11 basis points to 2.17%, from 2.06%. Average interest-bearing liabilities increased by $7.62 billion, driven by liabilities assumed from Flushing, growth in deposits and increases in FHLB advances.
Nine months ended September 30, 2026 vs. September 30, 2025
Net interest income increased to $389.3 million, from $264.9 million, reflecting the acquisition of Flushing and the net impact of the interest rate environment. Net interest margin increased to 3.07%, from 2.91%, which included the impact of purchase accounting accretion and prepayment fees of 0.09% and 0.03%, respectively.
Average interest-earning assets increased by $4.76 billion, driven by assets acquired from Flushing and increases in commercial loans and, to a lesser extent, securities. The average yield for interest-earning assets increased to 5.36%, from 5.16%, primarily due to the repricing of assets and new originations, and the addition of loans acquired from Flushing at higher yields.
The cost of average interest-bearing liabilities was 2.80% for both periods, primarily due to the full quarter impact of deposits acquired from Flushing at higher rates, offset by the net impact of repricing of deposits and FHLB advances. The total cost of deposits increased two basis points to 2.08%, from 2.06%. Average interest-bearing liabilities increased by $4.04 billion, driven by the acquisition of Flushing, with the remaining increases reflecting deposit growth and increased FHLB advances.
Three months ended September 30, 2026 vs. June 30, 2026
Net interest income increased by $51.4 million, to $172.1 million from $120.7 million, and net interest margin increased to 3.18%, from 3.05%. Net interest margin included the impact of purchase accounting accretion and prepayment fees of 0.16% and 0.05%, respectively.
Average interest-earning assets increased by $5.62 billion, and the yield on average interest-earning assets increased to 5.57%, from 5.29%. As discussed above, the current quarter was impacted by the drivers noted in the year-over-year discussion.
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The cost of average interest-bearing liabilities increased to 2.92%, from 2.74%. The total cost of deposits increased to 2.17%, from 2.06%. Average interest-bearing liabilities increased by $4.60 billion, driven by the inclusion of Flushing balances for the full quarter, and an increase in FHLB advances.
Provision for Credit Losses
Provision for credit losses for the three and nine months ended September 30, 2026 was $4.3 million and $11.0 million, as compared to $4.1 million and $12.5 million for the corresponding prior year periods, and $4.0 million in the linked quarter. The current quarter provision reflected continuing stable asset quality.
Net loan charge-offs were $1.5 million and $3.7 million for the three and nine months ended September 30, 2026, as compared to $617,000 and $3.5 million for the corresponding prior year periods and $1.5 million for the linked quarter. Annualized net loan charge-offs to average total loans were 0.04% for both the three and nine months ended September 30, 2026, as compared to 0.02% and 0.05% for the corresponding prior year periods and 0.05% for the linked quarter.
Non-interest Income
Three months ended September 30, 2026 vs. September 30, 2025
Other income increased to $13.0 million, as compared to $12.3 million. The increase in other income of $715,000 was driven by an increase in income from bank owned life insurance of $2.5 million, partly offset by decreases in commercial loan swap income of $796,000. Additionally, net gain on sale of loans decreased by $683,000 due to the discontinuation of residential loan originations, including the disposition of the title business at the beginning of the fourth quarter last year.
Nine months ended September 30, 2026 vs. September 30, 2025
Other income decreased to $30.4 million, as compared to $35.3 million. Other income included $711,000 of net losses on equity investments in the current period. The prior period other income
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included $686,000 of net gains on equity investments. Excluding the impact of these non-core operations, other income decreased by $3.5 million.
The primary drivers were decreases in fees and service charges of $3.4 million and net gain on sale of loans of $2.7 million, both due to the same discontinuation drivers noted above, partly offset by an increase in income from bank owned life insurance of $3.2 million. In addition, the prior period included non-recurring other income of $1.9 million.
Three months ended September 30, 2026 vs. June 30, 2026
Other income in the linked quarter was $10.6 million and included non-core operations of $347,000 related to net losses on equity investments. Excluding non-core operations, other income increased by $2.1 million. The primary drivers were increases in income from bank owned life insurance of $2.0 million and fees and service charges of $1.9 million, primarily due to a full quarter of Flushing activity. This was partly offset by decreases in net gain on other real estate operations of $1.5 million and commercial loan swap income of $747,000.
Non-interest Expense
Three months ended September 30, 2026 vs. September 30, 2025
Operating expenses increased to $151.4 million, as compared to $76.3 million. Operating expenses in the current quarter were impacted by non-core operations of $37.0 million, primarily due to merger-related expenses. Operating expenses in the prior year were impacted by non-core operations of $3.9 million, related to restructuring charges partly offset by a reversal of FDIC special assessment fees. Excluding the impact of non-core operations, operating expenses increased by $41.9 million.
The primary drivers were increases in compensation and benefits of $19.9 million, amortization of intangibles of $5.2 million, data processing of $5.1 million, occupancy expense of $4.9 million and other operating expenses of $3.8 million, which all increased primarily due to the acquisition of Flushing.
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Nine months ended September 30, 2026 vs. September 30, 2025
Operating expenses increased to $354.6 million, as compared to $212.1 million. Operating expenses in the current year were impacted by non-core operations of $84.0 million, primarily due to merger-related expenses. Operating expenses in the prior year were impacted by non-core operations of $3.9 million, related to restructuring charges partly offset by a reversal of FDIC special assessment fees. Excluding the impact of non-core operations, operating expenses increased by $62.5 million.
The primary drivers were increases in compensation and benefits of $32.6 million, occupancy expense of $7.1 million, amortization of intangibles of $6.8 million, data processing of $6.4 million and other operating expenses of $4.9 million, which all increased primarily due to the acquisition of Flushing.
Three months ended September 30, 2026 vs. June 30, 2026
Operating expenses in the linked quarter were $129.9 million and included non-core operations of $42.7 million, primarily related to merger-related expenses. Excluding non-core operations, operating expenses increased by $27.2 million, which was primarily due to a full quarter of Flushing activity. The primary drivers were increases in compensation and benefits of $11.1 million, data processing of $4.6 million, occupancy expense of $3.6 million, amortization of intangibles of $3.5 million, and other operating expense of $3.0 million.
Income Tax Expense
The provision for income taxes was $13.0 million and $20.1 million for the three and nine months ended September 30, 2026, as compared to $5.2 million and $17.7 million for the same prior year periods and $496,000 for the linked quarter. The effective tax rate was 44.2% and 37.2% for the three and nine months ended September 30, 2026, as compared to 22.9% and 23.4% for the same prior year periods and (19.6)% for the linked quarter.
The effective tax rate for the three and nine months ended September 30, 2026 was adversely impacted by non-deductible merger-related expenses, and the effective tax rate for the nine month
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period was partially offset by the revaluation of deferred taxes as a result of the Flushing acquisition. Excluding the tax impact of non-deductible merger-related expenses, the effective tax rate would have been 26.6% and 29.5% for the three and nine months ended September 30, 2026, respectively.
Financial Condition3
September 30, 2026 vs. June 30, 2026
Total assets increased by $100.4 million to $23.37 billion, primarily due to increases in total loans of $215.7 million, debt securities held-to-maturity of $134.3 million and other assets of $60.9 million, partially offset by a decrease in debt securities available-for-sale of $296.7 million.
Total liabilities increased by $115.6 million to $20.97 billion, primarily due to increases in deposits of $319.3 million and FHLB advances of $42.6 million, partially offset by a decrease in other liabilities of $197.5 million, mainly reflecting the settlement of security purchases that were outstanding at the end of the prior quarter.
Total stockholders’ equity decreased by $15.1 million, primarily due to an increase in accumulated other comprehensive loss of $14.4 million, net of tax, driven by decreases in the fair market value of available-for-sale debt securities of $25.4 million partially offset by increases in the market value of derivative hedges of $10.5 million.
September 30, 2026 vs. December 31, 2025
Total assets increased by $8.81 billion to $23.37 billion, due to the acquisition of Flushing which added $8.69 billion to total assets. Total loans increased by $5.46 billion to $16.49 billion, from $11.03 billion, primarily due to Flushing totaling $6.20 billion partly offset by $1.31 billion of multifamily loans sold in the prior quarter for a price of $1.20 billion, net of costs to sell. Debt securities held-to-maturity and available-for-sale increased by $2.65 billion, primarily due to the acquisition of Flushing totaling $1.56 billion and the reinvestment of proceeds from loan sales into securities. Bank owned life insurance increased by $237.1 million to $507.4 million, from $270.3
3 Flushing amounts refer to estimated fair values as of the June 1, 2026 acquisition date, unless otherwise noted.
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million driven by the acquisition of Flushing. As part of the acquisition of Flushing, the Company’s goodwill balance increased to $530.8 million, from $517.5 million and intangibles increased to $84.5 million, from $9.0 million.
Other assets increased by $278.5 million to $427.8 million, from $149.3 million, primarily due to deferred tax assets acquired from the Flushing acquisition and an increase in market values of derivatives associated with customer interest rate swaps.
Total liabilities increased by $8.07 billion to $20.97 billion, from $12.90 billion, primarily due to the acquisition of Flushing, which added $8.16 billion. Deposits increased by $7.11 billion to $18.08 billion, from $10.96 billion, primarily due to acquired deposits from Flushing. At the date of acquisition, the estimated fair value of Flushing deposits was $7.44 billion. Time deposits increased by $1.88 billion to $4.35 billion, from $2.47 billion, representing 24.1% and 22.5% of total deposits, respectively. Time deposits included an increase in retail time deposits of $1.44 billion and brokered time deposits of $439.6 million. FHLB advances increased by $377.8 million to $1.77 billion, from $1.40 billion, partly due to Flushing and additional borrowing needs. Other borrowings increased by $241.3 million to $496.6 million, from $255.2 million, driven by the addition of subordinated debt and trust preferred securities from the acquisition of Flushing. The loan-to-deposit ratio was 91.2%, as compared to 100.6%.
Other liabilities increased by $292.3 million to $501.6 million, from $209.3 million, mostly related to increases in market values of derivatives associated with customer interest rate swaps.
Capital levels remain strong and in excess of “well-capitalized” regulatory levels at September 30, 2026, including the Company’s estimated common equity tier one capital ratio of 10.6%.
Total stockholders’ equity increased to $2.40 billion, as compared to $1.66 billion, primarily due to the acquisition of Flushing, which added $535.6 million to stockholders’ equity. The current period also included a $225 million capital raise consisting of approximately 9.6 million shares of common stock, 1.8 million shares of NVCE stock, and warrants to purchase 11.4 million shares of
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NVCE stock. Additionally, accumulated other comprehensive loss increased by $15.6 million, net of tax, primarily due to decreases in the fair market value of available-for-sale debt securities of $26.2 million partially offset by increases in the market value of derivative hedges of $9.9 million.
During the nine months ended September 30, 2026, the Company repurchased 415,348 shares of common stock related to exercised options and vesting of employee awards outside of the authorized share repurchase program, at a weighted average cost of $18.76. The repurchases, including applicable excise tax, reduced stockholders’ equity by $7.9 million. As of September 30, 2026, the Company had 3,226,284 shares available for repurchase under the authorized repurchase programs.
The Company’s tangible common equity4 increased by $644.6 million to $1.78 billion. The Company’s stockholders’ equity to assets ratio was 10.25% at September 30, 2026, and tangible common equity to tangible assets ratio decreased by 26 basis points during the year to 7.83%, primarily due to the drivers described above.
Book value per common share decreased to $24.32, as compared to $28.97. Tangible book value per common share4 decreased to $18.08, as compared to $19.79.
Asset Quality
September 30, 2026 vs. December 31, 2025
The Company’s allowance for loan credit losses was 1.29% of total loans, as compared to 0.76%. The increase in the allowance for credit losses was largely driven by incremental allowance for loan credit losses of $121 million added for the Flushing portfolio on June 1 and the reserve build. Refer to “Provision for Credit Losses” section for further discussion.
Non-performing loans increased to $140.7 million, from $27.8 million, primarily due to $84.6 million of non-performing loans acquired from Flushing. Non-performing loans represented 0.85% and 0.25% of total loans, respectively. The allowance for loan credit losses as a percentage of
4 Tangible book value per common share and tangible common equity to tangible assets are non-GAAP financial measures and exclude the impact of intangible assets, goodwill, and preferred equity from both stockholders’ equity and total assets. Tangible book value per common share is based on common shares outstanding at period end. Refer to “Explanation of Non-GAAP Financial Measures” and the “Other Items - Non-GAAP Reconciliation” tables for additional information regarding non-GAAP financial measures.
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total non-performing loans was 150.84%, as compared to 301.27%. The level of 30 to 89 days delinquent loans decreased to $43.1 million, from $47.8 million, which was partially offset by $13.2 million of 30 to 89 days delinquent loans acquired from Flushing. Criticized and classified loans, and other real estate owned, increased to $529.6 million, from $122.1 million, largely due to Flushing loans that were re-risked at acquisition.
At September 30, 2026, the Company had $727.1 million of purchased with credit deterioration (“PCD”) loans, excluding the related allowance, from the Flushing acquisition, which largely consisted of criticized and classified loans and loans with any rent-regulated exposure. Non-performing loans in the current period included $79.3 million of PCD loans acquired from Flushing, and 30 to 89 days delinquent loans in the current period included $7.1 million of PCD loans acquired from Flushing.
The Company’s asset quality measures, excluding PCD loans, were as follows. Non-performing loans increased to $60.9 million, from $22.4 million. The allowance for loan credit losses as a percentage of total non-performing loans was 348.74%, as compared to 374.46%. The level of 30 to 89 days delinquent loans, excluding non-performing loans, decreased to $26.2 million, from $44.7 million.
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Explanation of Non-GAAP Financial Measures
Reported amounts are presented in accordance with GAAP. The Company’s management believes that the supplemental non-GAAP information, which consists of reported net income excluding non-core operations and in some instances excluding income taxes and provision for credit losses, and reporting equity and asset amounts excluding intangible assets and goodwill, all of which can vary from period to period, provides a better comparison of period-to-period operating performance. Additionally, the Company believes this information is utilized by regulators and market analysts to evaluate a company’s financial condition and, therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for financial results in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures, which may be presented by other companies. Refer to the Non-GAAP Reconciliation table at the end of this document for details on the earnings impact of these items.
Conference Call
As previously announced, the Company will host an earnings conference call on Wednesday, October 28, 2026 at 8:00 a.m. Eastern Time. The direct dial number for the call is (833) 461-5787, using the meeting ID 545140997. For those unable to participate in the conference call, a replay will be available at the following URL: https://events.q4inc.com/attendee/545140997. The conference call will also be available (listen-only) by internet webcast at https://ir.oceanfirst.com/. Web users should go to the site at least fifteen minutes prior to the call to register.
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OceanFirst Financial Corp.’s subsidiary, OceanFirst Bank N.A., founded in 1902, is a $23.4 billion regional bank serving business and retail customers throughout New Jersey, New York, Long Island, and the major metropolitan areas from Massachusetts through Virginia. OceanFirst Bank delivers commercial and residential financing, treasury management, trust and asset management, and deposit services and is one of the largest and oldest community-based financial institutions headquartered in New Jersey. To learn more about OceanFirst, go to www.oceanfirst.com.
Forward-Looking Statements
In addition to historical information, this press release contains certain forward-looking statements within the meaning of the federal securities laws, which are based on certain assumptions and describe future plans, strategies and expectations of the Company. Forward-looking statements may be identified by the use of the words such as “ estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “could,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. These statements are based on various assumptions, whether or not identified in this document, and on the current expectations of the Company’s management and are not predictions of actual performance, and, as a result, are subject to risks and uncertainties. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict, may differ from assumptions and many are beyond the control of the Company. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.
Factors that could have a material adverse effect on the operations of the Company and its subsidiaries include, but are not limited to: changes in interest rates, inflation, the shape of the yield curve, general economic conditions, including potential recessionary conditions, levels of unemployment in the Company’s lending area, real estate market values in the Company’s lending area, potential goodwill impairment, natural disasters, potential increases to flood insurance premiums, the current or anticipated impact of military conflict, terrorism or other geopolitical events, the imposition of tariffs or other domestic or international governmental policies, trade restrictions and retaliatory measures impacting the Company’s borrowers and the broader economy, the effects of a potential future federal government shutdown, debt ceiling impasses or fiscal uncertainty, the level of prepayments on loans and mortgage-backed securities, legislative/regulatory changes, monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, the quality or composition of the loan or investment portfolios, demand for loan products, deposit flows, the availability of low-cost funding, changes in liquidity, including the size and composition of the Company’s deposit portfolio and the percentage of uninsured deposits in the portfolio, changes in capital management and balance sheet strategies and the ability to successfully implement such strategies, competition, demand for financial services in the Company’s market area, our ability to enter into new markets and capitalize on growth opportunities, the adequacy of and changes in the economic assumptions and methodology for computing the allowance for credit losses, availability of capital, competition, our ability to maintain and increase market share and control expenses, changes in investor sentiment and consumer spending, borrowing and savings habits, changes in accounting principles, risks associated with cybersecurity threats, data breaches, ransomware attacks, or other failures in the Company’s operational or security systems and infrastructure, including the risks arising from the Company’s dependence on third-party service providers and vendors, the Company’s ability to achieve the estimated cost savings and efficiencies from the Flushing acquisition, the failure to maintain current technologies and the operational risks associated with the adoption of artificial intelligence and other emerging technologies, failure to retain or attract employees, the impact of pandemics on our operations and financial results and those of our customers and the Bank’s ability to successfully integrate acquired operations.
Readers should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of OceanFirst’s Annual Report on Form 10-K for the year ended December 31, 2025, and other documents filed by OceanFirst from time to time with the U.S. Securities and Exchange Commission (the “SEC”). The Company does not undertake, and specifically disclaims any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
14
OceanFirst Financial Corp.
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(dollars in thousands)
| September 30, | June 30, | December 31, | September 30, | |||||||||||||||||||||||
| 2026 | 2026 | 2025 | 2025 | |||||||||||||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||||||||||||
| Assets | ||||||||||||||||||||||||||
| Cash and due from banks | $ | 269,825 | $ | 274,057 | $ | 135,130 | $ | 274,125 | ||||||||||||||||||
| Debt securities available-for-sale, at estimated fair value | 1,770,923 | 2,067,668 | 1,231,827 | 1,261,580 | ||||||||||||||||||||||
Debt securities held-to-maturity, net of allowance for securities credit losses of $601 at September 30, 2026, $663 at June 30, 2026, $811 at December 31, 2025, and $968 at September 30, 2025 (estimated fair value of $2,822,226 at September 30, 2026, $2,803,466 at June 30, 2026, $825,790 at December 31, 2025, and $856,550 at September 30, 2025) | 2,996,502 | 2,862,196 | 881,568 | 919,734 | ||||||||||||||||||||||
| Equity investments | 65,845 | 75,965 | 91,882 | 90,731 | ||||||||||||||||||||||
| Restricted equity investments, at cost | 184,051 | 180,711 | 129,329 | 142,398 | ||||||||||||||||||||||
Loans receivable, net of allowance for loan credit losses of $212,288 at September 30, 2026, $209,716 at June 30, 2026, $83,726 at December 31, 2025, and $81,236 at September 30, 2025 | 16,297,353 | 16,086,532 | 10,970,666 | 10,489,852 | ||||||||||||||||||||||
| Loans held-for-sale | — | — | 5,768 | 17,766 | ||||||||||||||||||||||
| Interest and dividends receivable | 95,449 | 91,497 | 49,010 | 47,606 | ||||||||||||||||||||||
| Other real estate owned | 13,575 | 13,453 | 10,266 | 7,498 | ||||||||||||||||||||||
| Premises and equipment, net | 126,414 | 126,609 | 112,743 | 112,449 | ||||||||||||||||||||||
| Bank owned life insurance | 507,363 | 503,910 | 270,301 | 269,136 | ||||||||||||||||||||||
| Goodwill | 530,846 | 529,836 | 517,481 | 523,308 | ||||||||||||||||||||||
| Intangibles | 84,491 | 90,613 | 9,046 | 9,934 | ||||||||||||||||||||||
| Other assets | 427,819 | 366,963 | 149,300 | 158,547 | ||||||||||||||||||||||
| Total assets | $ | 23,370,456 | $ | 23,270,010 | $ | 14,564,317 | $ | 14,324,664 | ||||||||||||||||||
| Liabilities and Stockholders’ Equity | ||||||||||||||||||||||||||
| Deposits | $ | 18,079,389 | $ | 17,760,073 | $ | 10,964,405 | $ | 10,435,994 | ||||||||||||||||||
| Federal Home Loan Bank advances | 1,774,967 | 1,732,373 | 1,397,179 | 1,705,585 | ||||||||||||||||||||||
| Securities sold under agreements to repurchase with customers | 32,852 | 61,329 | 54,434 | 64,869 | ||||||||||||||||||||||
| Other borrowings | 496,565 | 493,216 | 255,233 | 198,138 | ||||||||||||||||||||||
| Advances by borrowers for taxes and insurance | 89,126 | 112,876 | 21,245 | 23,708 | ||||||||||||||||||||||
| Other liabilities | 501,586 | 699,063 | 209,271 | 242,943 | ||||||||||||||||||||||
| Total liabilities | 20,974,485 | 20,858,930 | 12,901,767 | 12,671,237 | ||||||||||||||||||||||
| Stockholders’ equity: | ||||||||||||||||||||||||||
| OceanFirst Financial Corp. stockholders’ equity | 2,395,971 | 2,411,080 | 1,662,550 | 1,652,537 | ||||||||||||||||||||||
| Non-controlling interest | — | — | — | 890 | ||||||||||||||||||||||
| Total stockholders’ equity | 2,395,971 | 2,411,080 | 1,662,550 | 1,653,427 | ||||||||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 23,370,456 | $ | 23,270,010 | $ | 14,564,317 | $ | 14,324,664 | ||||||||||||||||||
15
OceanFirst Financial Corp.
CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share amounts)
| For the Three Months Ended, | For the Nine Months Ended, | |||||||||||||||||||||||||||||||
| September 30, | June 30, | September 30, | September 30, | September 30, | ||||||||||||||||||||||||||||
| 2026 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||||||||
| |---------------------- (Unaudited) ----------------------| | |---------- (Unaudited) -----------| | |||||||||||||||||||||||||||||||
| Interest income: | ||||||||||||||||||||||||||||||||
| Loans | $ | 237,051 | $ | 178,982 | $ | 141,847 | $ | 561,357 | $ | 410,344 | ||||||||||||||||||||||
| Debt securities | 59,974 | 26,633 | 17,156 | 106,417 | 50,376 | |||||||||||||||||||||||||||
| Equity investments and other | 4,674 | 3,989 | 3,191 | 11,820 | 10,002 | |||||||||||||||||||||||||||
| Total interest income | 301,699 | 209,604 | 162,194 | 679,594 | 470,722 | |||||||||||||||||||||||||||
| Interest expense: | ||||||||||||||||||||||||||||||||
| Deposits | 96,997 | 68,308 | 53,246 | 219,000 | 156,565 | |||||||||||||||||||||||||||
| Borrowed funds | 32,586 | 20,566 | 18,291 | 71,301 | 49,212 | |||||||||||||||||||||||||||
| Total interest expense | 129,583 | 88,874 | 71,537 | 290,301 | 205,777 | |||||||||||||||||||||||||||
| Net interest income | 172,116 | 120,730 | 90,657 | 389,293 | 264,945 | |||||||||||||||||||||||||||
| Provision for credit losses | 4,268 | 4,002 | 4,092 | 11,008 | 12,471 | |||||||||||||||||||||||||||
| Net interest income after provision for credit losses | 167,848 | 116,728 | 86,565 | 378,285 | 252,474 | |||||||||||||||||||||||||||
| Other income (loss): | ||||||||||||||||||||||||||||||||
| Bankcard services revenue | 1,895 | 1,772 | 1,663 | 5,296 | 4,745 | |||||||||||||||||||||||||||
| Trust and asset management revenue | 509 | 384 | 384 | 1,326 | 1,164 | |||||||||||||||||||||||||||
| Fees and service charges | 5,273 | 3,389 | 5,190 | 11,475 | 14,871 | |||||||||||||||||||||||||||
| Net gain on sales of loans | 217 | 38 | 900 | 227 | 2,935 | |||||||||||||||||||||||||||
| Net (loss) gain on equity investments | (10) | (347) | (7) | (711) | 686 | |||||||||||||||||||||||||||
| Net (loss) gain from other real estate operations | (247) | 1,203 | 1 | 792 | (275) | |||||||||||||||||||||||||||
| Income from bank owned life insurance | 4,518 | 2,471 | 1,988 | 8,863 | 5,626 | |||||||||||||||||||||||||||
| Commercial loan swap income | 907 | 1,654 | 1,703 | 2,906 | 2,530 | |||||||||||||||||||||||||||
| Other | (43) | 34 | 482 | 191 | 3,008 | |||||||||||||||||||||||||||
| Total other income | 13,019 | 10,598 | 12,304 | 30,365 | 35,290 | |||||||||||||||||||||||||||
| Operating expenses: | ||||||||||||||||||||||||||||||||
| Compensation and employee benefits | 61,310 | 50,202 | 41,387 | 150,996 | 118,369 | |||||||||||||||||||||||||||
| Occupancy | 10,975 | 7,333 | 6,098 | 24,140 | 17,049 | |||||||||||||||||||||||||||
| Equipment | 1,452 | 1,111 | 931 | 3,484 | 2,721 | |||||||||||||||||||||||||||
| Marketing | 2,087 | 1,894 | 1,538 | 4,944 | 4,187 | |||||||||||||||||||||||||||
| Federal deposit insurance and regulatory assessments | 4,617 | 4,130 | 2,616 | 11,962 | 8,497 | |||||||||||||||||||||||||||
| Data processing | 12,291 | 7,655 | 7,164 | 26,998 | 20,619 | |||||||||||||||||||||||||||
| Check card processing | 1,179 | 1,097 | 1,170 | 3,374 | 3,496 | |||||||||||||||||||||||||||
| Professional fees | 3,596 | 3,405 | 3,467 | 10,223 | 10,228 | |||||||||||||||||||||||||||
| Amortization of intangibles | 6,121 | 2,586 | 900 | 9,555 | 2,746 | |||||||||||||||||||||||||||
| Merger-related expenses | 37,088 | 42,765 | — | 84,003 | — | |||||||||||||||||||||||||||
| Restructuring (release) charges | (49) | (71) | 4,147 | 8 | 4,147 | |||||||||||||||||||||||||||
| Other operating expenses | 10,707 | 7,752 | 6,909 | 24,949 | 20,036 | |||||||||||||||||||||||||||
| Total operating expenses | 151,374 | 129,859 | 76,327 | 354,636 | 212,095 | |||||||||||||||||||||||||||
| Income (loss) before provision for income taxes | 29,493 | (2,533) | 22,542 | 54,014 | 75,669 | |||||||||||||||||||||||||||
| Provision for income taxes | 13,031 | 496 | 5,156 | 20,075 | 17,735 | |||||||||||||||||||||||||||
| Net income (loss) | 16,462 | (3,029) | 17,386 | 33,939 | 57,934 | |||||||||||||||||||||||||||
| Net income attributable to non-controlling interest | — | — | 56 | — | 49 | |||||||||||||||||||||||||||
| Net income (loss) attributable to OceanFirst Financial Corp. | 16,462 | (3,029) | 17,330 | 33,939 | 57,885 | |||||||||||||||||||||||||||
| Dividends on preferred shares | — | — | — | — | 2,008 | |||||||||||||||||||||||||||
| Loss on redemption of preferred stock | — | — | — | — | 1,842 | |||||||||||||||||||||||||||
| Net income (loss) available to common stockholders | $ | 16,462 | $ | (3,029) | $ | 17,330 | $ | 33,939 | $ | 54,035 | ||||||||||||||||||||||
| Basic earnings (loss) per share | $ | 0.17 | $ | (0.04) | $ | 0.30 | $ | 0.45 | $ | 0.94 | ||||||||||||||||||||||
| Diluted earnings (loss) per share | $ | 0.17 | $ | (0.04) | $ | 0.30 | $ | 0.45 | $ | 0.94 | ||||||||||||||||||||||
| Average basic shares outstanding | 98,051 | 70,239 | 57,031 | 75,205 | 57,599 | |||||||||||||||||||||||||||
| Average diluted shares outstanding | 98,101 | 70,239 | 57,036 | 75,232 | 57,602 | |||||||||||||||||||||||||||
16
OceanFirst Financial Corp.
SELECTED LOAN AND DEPOSIT DATA
(dollars in thousands)
| LOANS RECEIVABLE | At | ||||||||||||||||||||||||||||||||||
| September 30, | June 30, | March 31, | December 31, | September 30, | |||||||||||||||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | |||||||||||||||||||||||||||||||
| Commercial: | |||||||||||||||||||||||||||||||||||
| Commercial real estate - investor | $ | 9,327,705 | $ | 9,125,313 | $ | 5,478,832 | $ | 5,420,989 | $ | 5,211,220 | |||||||||||||||||||||||||
| Commercial and industrial: | |||||||||||||||||||||||||||||||||||
Commercial and industrial - real estate | 1,833,051 | 1,800,501 | 1,016,912 | 986,431 | 997,122 | ||||||||||||||||||||||||||||||
| Commercial and industrial - non-real estate | 1,997,819 | 1,907,719 | 1,302,128 | 1,227,556 | 998,860 | ||||||||||||||||||||||||||||||
| Total commercial and industrial | 3,830,870 | 3,708,220 | 2,319,040 | 2,213,987 | 1,995,982 | ||||||||||||||||||||||||||||||
| Total commercial | 13,158,575 | 12,833,533 | 7,797,872 | 7,634,976 | 7,207,202 | ||||||||||||||||||||||||||||||
| Consumer: | |||||||||||||||||||||||||||||||||||
| Residential real estate | 3,144,328 | 3,245,311 | 3,128,023 | 3,194,264 | 3,135,200 | ||||||||||||||||||||||||||||||
| Home equity loans and lines and other consumer ("other consumer") | 188,516 | 196,908 | 198,048 | 202,763 | 215,581 | ||||||||||||||||||||||||||||||
| Total consumer | 3,332,844 | 3,442,219 | 3,326,071 | 3,397,027 | 3,350,781 | ||||||||||||||||||||||||||||||
| Total loans | 16,491,419 | 16,275,752 | 11,123,943 | 11,032,003 | 10,557,983 | ||||||||||||||||||||||||||||||
| Deferred origination costs (fees), net | 18,222 | 20,496 | 21,442 | 22,389 | 13,105 | ||||||||||||||||||||||||||||||
| Allowance for loan credit losses | (212,288) | (209,716) | (86,110) | (83,726) | (81,236) | ||||||||||||||||||||||||||||||
| Loans receivable, net | $ | 16,297,353 | $ | 16,086,532 | $ | 11,059,275 | $ | 10,970,666 | $ | 10,489,852 | |||||||||||||||||||||||||
| Residential mortgage loans serviced for others | $ | 322,573 | $ | 333,605 | $ | 344,316 | $ | 365,431 | $ | 340,740 | |||||||||||||||||||||||||
| At September 30, 2026 Average Yield | |||||||||||||||||||||||||||||||||||
Loan pipeline (1): | |||||||||||||||||||||||||||||||||||
| Commercial | 7.00 | % | $ | 541,234 | $ | 409,448 | $ | 417,356 | $ | 464,602 | $ | 710,933 | |||||||||||||||||||||||
Residential real estate (2) | — | — | — | 461 | 9,457 | 136,797 | |||||||||||||||||||||||||||||
Other consumer (2) | — | — | — | — | — | 16,184 | |||||||||||||||||||||||||||||
| Total | 7.00 | % | $ | 541,234 | $ | 409,448 | $ | 417,817 | $ | 474,059 | $ | 863,914 | |||||||||||||||||||||||
| For the Three Months Ended | |||||||||||||||||||||||||||||||||||||||||
| September 30, | June 30 | March 31, | December 31, | September 30, | |||||||||||||||||||||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | |||||||||||||||||||||||||||||||||||||
| Average Yield | |||||||||||||||||||||||||||||||||||||||||
| Loan originations: | |||||||||||||||||||||||||||||||||||||||||
| Commercial | 7.10 | % | $ | 734,830 | $ | 641,505 | $ | 422,907 | $ | 786,186 | $ | 739,154 | |||||||||||||||||||||||||||||
Residential real estate (2) | — | — | 406 | 5,824 | 249,540 | 250,066 | |||||||||||||||||||||||||||||||||||
Other consumer (2) | — | — | — | — | 14,859 | 18,087 | |||||||||||||||||||||||||||||||||||
| Total | 7.10 | % | $ | 734,830 | $ | 641,911 | $ | 428,731 | $ | 1,050,585 | $ | 1,007,307 | |||||||||||||||||||||||||||||
(1)Loan pipeline includes loans approved but not funded.
(2)As of December 31, 2025, the Company has discontinued its residential and consumer originations.
| DEPOSITS | At | ||||||||||||||||||||||||||||
| September 30, | June 30 | March 31, | December 31, | September 30, | |||||||||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | |||||||||||||||||||||||||
| Type of Account | |||||||||||||||||||||||||||||
| Non-interest-bearing | $ | 2,875,003 | $ | 2,836,711 | $ | 1,757,097 | $ | 1,741,958 | $ | 1,731,760 | |||||||||||||||||||
| Interest-bearing checking | 6,333,822 | 6,276,653 | 4,536,726 | 4,354,485 | 4,090,930 | ||||||||||||||||||||||||
| Money market | 3,470,934 | 3,375,564 | 1,488,653 | 1,412,917 | 1,397,434 | ||||||||||||||||||||||||
| Savings | 1,047,597 | 1,060,481 | 986,208 | 986,195 | 1,000,488 | ||||||||||||||||||||||||
Time deposits (1) | 4,352,033 | 4,210,664 | 2,387,232 | 2,468,850 | 2,215,382 | ||||||||||||||||||||||||
| Total deposits | $ | 18,079,389 | $ | 17,760,073 | $ | 11,155,916 | $ | 10,964,405 | $ | 10,435,994 | |||||||||||||||||||
(1)Includes brokered time deposits of $1.05 billion, $885.7 million, $487.9 million, $609.8 million, and $405.1 million at September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025, respectively.
17
OceanFirst Financial Corp.
ASSET QUALITY
(dollars in thousands)
ASSET QUALITY (1) (2) | September 30, | June 30, | March 31, | December 31, | September 30, | ||||||||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | |||||||||||||||||||||||||
| Non-performing loans: | |||||||||||||||||||||||||||||
| Commercial real estate - investor | $ | 103,225 | $ | 76,721 | $ | 18,970 | $ | 13,636 | $ | 23,570 | |||||||||||||||||||
| Commercial and industrial: | |||||||||||||||||||||||||||||
| Commercial and industrial - real estate | 20,058 | 16,980 | 5,541 | 4,813 | 7,469 | ||||||||||||||||||||||||
| Commercial and industrial - non-real estate | 3,635 | 5,045 | 228 | 640 | 394 | ||||||||||||||||||||||||
| Total commercial and industrial | 23,693 | 22,025 | 5,769 | 5,453 | 7,863 | ||||||||||||||||||||||||
| Residential real estate | 11,232 | 7,043 | 7,011 | 6,200 | 7,334 | ||||||||||||||||||||||||
| Other consumer | 2,586 | 2,452 | 2,888 | 2,502 | 2,496 | ||||||||||||||||||||||||
Total non-performing loans (2) (3) | $ | 140,736 | $ | 108,241 | $ | 34,638 | $ | 27,791 | $ | 41,263 | |||||||||||||||||||
| Other real estate owned | 13,575 | 13,453 | 10,393 | 10,266 | 7,498 | ||||||||||||||||||||||||
Non-performing investment (4) | — | 20,729 | — | — | — | ||||||||||||||||||||||||
Total non-performing assets | $ | 154,311 | $ | 142,423 | $ | 45,031 | $ | 38,057 | $ | 48,761 | |||||||||||||||||||
Delinquent loans 30 to 89 days (3) | $ | 43,142 | $ | 47,097 | $ | 55,876 | $ | 47,808 | $ | 19,817 | |||||||||||||||||||
| Modifications to borrowers experiencing financial difficulty | |||||||||||||||||||||||||||||
| Non-performing (included in total non-performing loans above) | $ | 8,078 | $ | 7,151 | $ | 5,460 | $ | 956 | $ | 7,693 | |||||||||||||||||||
| Performing | 16,683 | 15,072 | 15,083 | 23,898 | 23,952 | ||||||||||||||||||||||||
| Total modifications to borrowers experiencing financial difficulty | $ | 24,761 | $ | 22,223 | $ | 20,543 | $ | 24,854 | $ | 31,645 | |||||||||||||||||||
| Allowance for loan credit losses | $ | 212,288 | $ | 209,716 | $ | 86,110 | $ | 83,726 | $ | 81,236 | |||||||||||||||||||
| Allowance for unfunded commitments | 4,345 | 4,194 | 3,738 | 4,028 | 4,636 | ||||||||||||||||||||||||
| Allowance for loan credit losses as a percent of total loans receivable | 1.29 | % | 1.29 | % | 0.77 | % | 0.76 | % | 0.77 | % | |||||||||||||||||||
| Allowance for loan credit losses as a percent of total non-performing loans | 150.84 | 193.75 | 248.60 | 301.27 | 196.87 | ||||||||||||||||||||||||
| Non-performing loans as a percent of total loans receivable | 0.85 | 0.67 | 0.31 | 0.25 | 0.39 | ||||||||||||||||||||||||
| Non-performing assets as a percent of total assets | 0.66 | 0.61 | 0.31 | 0.26 | 0.34 | ||||||||||||||||||||||||
| Supplemental PCD and non-performing loans | |||||||||||||||||||||||||||||
PCD loans, net of allowance for loan credit losses (3) | $ | 674,201 | $ | 696,763 | $ | 14,604 | $ | 14,968 | $ | 19,003 | |||||||||||||||||||
Non-performing PCD loans (3) | 79,864 | 54,190 | 5,900 | 5,432 | 5,677 | ||||||||||||||||||||||||
Delinquent PCD and non-performing loans 30 to 89 days (3) | 16,919 | 10,221 | 8,794 | 3,103 | 2,987 | ||||||||||||||||||||||||
PCD modifications to borrowers experiencing financial difficulty (2) | 1,709 | 1,710 | 16 | 18 | 20 | ||||||||||||||||||||||||
| Asset quality, excluding PCD loans | |||||||||||||||||||||||||||||
Non-performing loans (2) | 60,872 | 54,051 | 28,738 | 22,359 | 35,586 | ||||||||||||||||||||||||
Non-performing assets | 74,447 | 88,233 | 39,131 | 32,625 | 43,084 | ||||||||||||||||||||||||
Delinquent loans 30 to 89 days (excludes non-performing loans) | 26,223 | 36,876 | 47,082 | 44,705 | 16,830 | ||||||||||||||||||||||||
Modifications to borrowers experiencing financial difficulty (2) | 23,052 | 20,513 | 20,527 | 24,836 | 31,625 | ||||||||||||||||||||||||
| Allowance for loan credit losses as a percent of total non-performing loans | 348.74 | % | 388.00 | % | 299.64 | % | 374.46 | % | 228.28 | % | |||||||||||||||||||
Non-performing loans as a percent of total loans receivable | 0.37 | 0.33 | 0.26 | 0.20 | 0.34 | ||||||||||||||||||||||||
| Non-performing assets as a percent of total assets | 0.32 | 0.38 | 0.27 | 0.22 | 0.30 | ||||||||||||||||||||||||
(1)Asset quality metrics exclude loans held for sale.
(2)The quarter ended September 30, 2026 included the sale of non-performing commercial real estate - investor loans of $1.4 million. The quarters ended June 30, 2026 and December 31, 2025, included the sale of non-performing residential and consumer loans of $2.0 million and $2.5 million, respectively.
(3)The quarters ended September 30, 2026 and June 30, 2026 included loans acquired from the Flushing acquisition. Non-performing, delinquent 30 to 89 days, and PCD loans as of September 30, 2026 included $84.6 million, $13.2 million, and $727.1 million, respectively, of acquired loans from Flushing. Non-performing PCD and delinquent 30 to 89 days PCD loans as of September 30, 2026 included $79.3 million and $7.1 million, respectively, from Flushing.
(4)Non-performing investment acquired from Flushing, which was subsequently sold during the quarter ended September 30, 2026.
18
(continued)
| NET LOAN CHARGE-OFFS | For the Three Months Ended | ||||||||||||||||||||||||||||||||||
| September 30, | June 30, | March 31, | December 31, | September 30, | |||||||||||||||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | |||||||||||||||||||||||||||||||
| Net loan charge-offs: | |||||||||||||||||||||||||||||||||||
| Loan charge-offs | $ | (2,599) | $ | (1,776) | $ | (956) | $ | (2,190) | $ | (850) | |||||||||||||||||||||||||
| Recoveries on loans | 1,143 | 262 | 255 | 216 | 233 | ||||||||||||||||||||||||||||||
| Net loan charge-offs | $ | (1,456) | $ | (1,514) | $ | (701) | $ | (1,974) | $ | (617) | |||||||||||||||||||||||||
| Net loan charge-offs to average total loans (annualized) | 0.04 | % | 0.05 | % | 0.03 | % | 0.07 | % | 0.02 | % | |||||||||||||||||||||||||
| Net loan (charge-offs) recoveries detail: | |||||||||||||||||||||||||||||||||||
| Commercial | $ | (1,500) | $ | (1,074) | $ | (736) | $ | (1,676) | $ | (522) | |||||||||||||||||||||||||
Residential real estate (1) | (10) | (352) | (7) | (268) | (24) | ||||||||||||||||||||||||||||||
Other consumer (1) | 54 | (88) | 42 | (30) | (71) | ||||||||||||||||||||||||||||||
| Net loan charge-offs | $ | (1,456) | $ | (1,514) | $ | (701) | $ | (1,974) | $ | (617) | |||||||||||||||||||||||||
(1)The three months ended December 31, 2025 included charge-offs of $342,000, related to the sale of non-performing residential and consumer loans.
19
OceanFirst Financial Corp.
ANALYSIS OF NET INTEREST INCOME
| For the Three Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Average Balance | Interest | Average Yield/ Cost (1) | Average Balance | Interest | Average Yield/ Cost (1) | Average Balance | Interest | Average Yield/ Cost (1) | ||||||||||||||||||||||||||||||||||||||||||||
| Assets: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-earning assets: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-earning deposits and short-term investments | $ | 174,345 | $ | 1,459 | 3.32 | % | $ | 158,816 | $ | 1,375 | 3.47 | % | $ | 94,470 | $ | 1,115 | 4.68 | % | |||||||||||||||||||||||||||||||||||
Securities (2) | 5,145,177 | 63,189 | 4.87 | 2,789,029 | 29,247 | 4.21 | 1,990,917 | 19,232 | 3.83 | ||||||||||||||||||||||||||||||||||||||||||||
Loans receivable, net (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial | 13,006,563 | 200,603 | 6.12 | 9,701,371 | 142,903 | 5.91 | 6,975,780 | 105,587 | 6.01 | ||||||||||||||||||||||||||||||||||||||||||||
| Residential real estate | 3,172,827 | 33,521 | 4.23 | 3,145,110 | 33,135 | 4.21 | 3,151,177 | 32,685 | 4.15 | ||||||||||||||||||||||||||||||||||||||||||||
| Other consumer | 185,142 | 2,927 | 6.27 | 188,131 | 2,944 | 6.28 | 218,465 | 3,575 | 6.49 | ||||||||||||||||||||||||||||||||||||||||||||
| Allowance for loan credit losses, net of deferred loan costs and fees | (191,171) | — | — | (104,773) | — | — | (66,812) | — | — | ||||||||||||||||||||||||||||||||||||||||||||
| Loans receivable, net | 16,173,361 | 237,051 | 5.82 | 12,929,839 | 178,982 | 5.55 | 10,278,610 | 141,847 | 5.49 | ||||||||||||||||||||||||||||||||||||||||||||
| Total interest-earning assets | 21,492,883 | 301,699 | 5.57 | 15,877,684 | 209,604 | 5.29 | 12,363,997 | 162,194 | 5.21 | ||||||||||||||||||||||||||||||||||||||||||||
| Non-interest-earning assets | 1,814,874 | 1,399,341 | 1,187,197 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 23,307,757 | $ | 17,277,025 | $ | 13,551,194 | |||||||||||||||||||||||||||||||||||||||||||||||
| Liabilities and Stockholders’ Equity: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing checking | $ | 6,506,421 | 40,366 | 2.46 | % | $ | 5,107,262 | 28,186 | 2.21 | % | $ | 4,000,804 | 21,253 | 2.11 | % | ||||||||||||||||||||||||||||||||||||||
| Money market | 3,506,127 | 25,777 | 2.92 | 2,120,250 | 14,128 | 2.67 | 1,426,586 | 10,507 | 2.92 | ||||||||||||||||||||||||||||||||||||||||||||
| Savings | 1,055,990 | 1,386 | 0.52 | 1,003,045 | 1,284 | 0.51 | 1,009,742 | 1,674 | 0.66 | ||||||||||||||||||||||||||||||||||||||||||||
| Time deposits | 3,798,395 | 29,468 | 3.08 | 2,990,624 | 24,710 | 3.31 | 2,105,734 | 19,812 | 3.73 | ||||||||||||||||||||||||||||||||||||||||||||
| Total | 14,866,933 | 96,997 | 2.59 | 11,221,181 | 68,308 | 2.44 | 8,542,866 | 53,246 | 2.47 | ||||||||||||||||||||||||||||||||||||||||||||
| FHLB Advances | 2,090,088 | 21,183 | 4.02 | 1,312,502 | 13,169 | 4.02 | 1,123,946 | 12,793 | 4.52 | ||||||||||||||||||||||||||||||||||||||||||||
| Securities sold under agreements to repurchase | 45,998 | 263 | 2.27 | 60,009 | 399 | 2.67 | 59,017 | 438 | 2.94 | ||||||||||||||||||||||||||||||||||||||||||||
| Other borrowings | 591,751 | 11,140 | 7.47 | 397,793 | 6,998 | 7.06 | 249,233 | 5,060 | 8.05 | ||||||||||||||||||||||||||||||||||||||||||||
| Total borrowings | 2,727,837 | 32,586 | 4.74 | 1,770,304 | 20,566 | 4.66 | 1,432,196 | 18,291 | 5.07 | ||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing liabilities | 17,594,770 | 129,583 | 2.92 | 12,991,485 | 88,874 | 2.74 | 9,975,062 | 71,537 | 2.85 | ||||||||||||||||||||||||||||||||||||||||||||
| Non-interest-bearing deposits | 2,891,503 | 2,107,561 | 1,720,657 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-interest-bearing liabilities | 403,944 | 247,077 | 199,582 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities | 20,890,217 | 15,346,123 | 11,895,301 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Stockholders’ equity | 2,417,540 | 1,930,902 | 1,655,893 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 23,307,757 | $ | 17,277,025 | $ | 13,551,194 | |||||||||||||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 172,116 | $ | 120,730 | $ | 90,657 | |||||||||||||||||||||||||||||||||||||||||||||||
Net interest rate spread (4) | 2.65 | % | 2.55 | % | 2.36 | % | |||||||||||||||||||||||||||||||||||||||||||||||
Net interest margin (5) | 3.18 | % | 3.05 | % | 2.91 | % | |||||||||||||||||||||||||||||||||||||||||||||||
| Total cost of deposits (including non-interest-bearing deposits) | 2.17 | % | 2.06 | % | 2.06 | % | |||||||||||||||||||||||||||||||||||||||||||||||
20
(continued)
| For the Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||
| 2026 | 2025 | ||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Average Balance | Interest | Average Yield/ Cost (1) | Average Balance | Interest | Average Yield/ Cost (1) | |||||||||||||||||||||||||||||
| Assets: | |||||||||||||||||||||||||||||||||||
| Interest-earning assets: | |||||||||||||||||||||||||||||||||||
| Interest-earning deposits and short-term investments | $ | 139,067 | $ | 3,497 | 3.36 | % | $ | 102,267 | $ | 3,188 | 4.17 | % | |||||||||||||||||||||||
Securities (2) | 3,416,108 | 114,740 | 4.49 | 1,970,368 | 57,190 | 3.88 | |||||||||||||||||||||||||||||
Loans receivable, net (3) | |||||||||||||||||||||||||||||||||||
| Commercial | 10,151,282 | 452,604 | 5.96 | 6,848,512 | 303,852 | 5.93 | |||||||||||||||||||||||||||||
| Residential real estate | 3,161,753 | 99,797 | 4.21 | 3,103,008 | 95,816 | 4.12 | |||||||||||||||||||||||||||||
| Other consumer | 190,812 | 8,956 | 6.28 | 224,073 | 10,676 | 6.37 | |||||||||||||||||||||||||||||
| Allowance for loan credit losses, net of deferred loan costs and fees | (119,748) | — | — | (65,028) | — | — | |||||||||||||||||||||||||||||
| Loans receivable, net | 13,384,099 | 561,357 | 5.60 | 10,110,565 | 410,344 | 5.42 | |||||||||||||||||||||||||||||
| Total interest-earning assets | 16,939,274 | 679,594 | 5.36 | 12,183,200 | 470,722 | 5.16 | |||||||||||||||||||||||||||||
| Non-interest-earning assets | 1,471,296 | 1,188,063 | |||||||||||||||||||||||||||||||||
| Total assets | $ | 18,410,570 | $ | 13,371,263 | |||||||||||||||||||||||||||||||
| Liabilities and Stockholders’ Equity: | |||||||||||||||||||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||
| Interest-bearing checking | $ | 5,381,821 | 91,372 | 2.27 | % | $ | 4,041,710 | 63,292 | 2.09 | % | |||||||||||||||||||||||||
| Money market | 2,373,903 | 48,713 | 2.74 | 1,363,977 | 29,577 | 2.90 | |||||||||||||||||||||||||||||
| Savings | 1,016,245 | 3,975 | 0.52 | 1,032,239 | 5,138 | 0.67 | |||||||||||||||||||||||||||||
| Time deposits | 3,059,169 | 74,940 | 3.28 | 2,066,745 | 58,558 | 3.79 | |||||||||||||||||||||||||||||
| Total | 11,831,138 | 219,000 | 2.47 | 8,504,671 | 156,565 | 2.46 | |||||||||||||||||||||||||||||
| FHLB Advances | 1,557,891 | 47,236 | 4.05 | 1,000,796 | 34,086 | 4.55 | |||||||||||||||||||||||||||||
| Securities sold under agreements to repurchase | 55,220 | 1,046 | 2.53 | 61,250 | 1,284 | 2.80 | |||||||||||||||||||||||||||||
| Other borrowings | 430,890 | 23,019 | 7.14 | 264,222 | 13,842 | 7.00 | |||||||||||||||||||||||||||||
| Total borrowings | 2,044,001 | 71,301 | 4.66 | 1,326,268 | 49,212 | 4.96 | |||||||||||||||||||||||||||||
| Total interest-bearing liabilities | 13,875,139 | 290,301 | 2.80 | 9,830,939 | 205,777 | 2.80 | |||||||||||||||||||||||||||||
| Non-interest-bearing deposits | 2,247,866 | 1,653,007 | |||||||||||||||||||||||||||||||||
| Non-interest-bearing liabilities | 275,884 | 202,976 | |||||||||||||||||||||||||||||||||
| Total liabilities | 16,398,889 | 11,686,922 | |||||||||||||||||||||||||||||||||
| Stockholders’ equity | 2,011,681 | 1,684,341 | |||||||||||||||||||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 18,410,570 | $ | 13,371,263 | |||||||||||||||||||||||||||||||
| Net interest income | $ | 389,293 | $ | 264,945 | |||||||||||||||||||||||||||||||
Net interest rate spread (4) | 2.56 | % | 2.36 | % | |||||||||||||||||||||||||||||||
Net interest margin (5) | 3.07 | % | 2.91 | % | |||||||||||||||||||||||||||||||
| Total cost of deposits (including non-interest-bearing deposits) | 2.08 | % | 2.06 | % | |||||||||||||||||||||||||||||||
(1) Average yields and costs are annualized.
(2) Amounts represent debt and equity securities, including FHLB and Federal Reserve Bank stock, and are recorded at average amortized cost, net of allowance for securities credit losses.
(3) Amount is net of deferred loan costs and fees, undisbursed loan funds, discounts and premiums and allowance for loan credit losses, and includes loans held-for-sale and non-performing loans.
(4) Net interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.
(5) Net interest margin represents net interest income divided by average interest-earning assets.
21
OceanFirst Financial Corp.
SELECTED QUARTERLY FINANCIAL DATA
(in thousands, except per share amounts)
| September 30, | June 30, | March 31, | December 31, | September 30, | ||||||||||||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | ||||||||||||||||||||||||||||
| Selected Financial Condition Data: | ||||||||||||||||||||||||||||||||
| Total assets | $ | 23,370,456 | $ | 23,270,010 | $ | 14,556,336 | $ | 14,564,317 | $ | 14,324,664 | ||||||||||||||||||||||
Debt securities available-for-sale, at estimated fair value | 1,770,923 | 2,067,668 | 1,181,087 | 1,231,827 | 1,261,580 | |||||||||||||||||||||||||||
| Debt securities held-to-maturity, net of allowance for securities credit losses | 2,996,502 | 2,862,196 | 852,917 | 881,568 | 919,734 | |||||||||||||||||||||||||||
| Equity investments | 65,845 | 75,965 | 88,239 | 91,882 | 90,731 | |||||||||||||||||||||||||||
| Restricted equity investments, at cost | 184,051 | 180,711 | 119,503 | 129,329 | 142,398 | |||||||||||||||||||||||||||
| Loans receivable, net of allowance for loan credit losses | 16,297,353 | 16,086,532 | 11,059,275 | 10,970,666 | 10,489,852 | |||||||||||||||||||||||||||
| Deposits | 18,079,389 | 17,760,073 | 11,155,916 | 10,964,405 | 10,435,994 | |||||||||||||||||||||||||||
| Federal Home Loan Bank advances | 1,774,967 | 1,732,373 | 1,180,179 | 1,397,179 | 1,705,585 | |||||||||||||||||||||||||||
| Securities sold under agreements to repurchase from customers and other borrowings | 529,417 | 554,545 | 322,767 | 309,667 | 263,007 | |||||||||||||||||||||||||||
| Total stockholders’ equity | 2,395,971 | 2,411,080 | 1,669,368 | 1,662,550 | 1,653,427 | |||||||||||||||||||||||||||
| For the Three Months Ended, | ||||||||||||||||||||||||||||||||
| September 30, | June 30, | March 31, | December 31, | September 30, | ||||||||||||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | ||||||||||||||||||||||||||||
| Selected Operating Data: | ||||||||||||||||||||||||||||||||
| Interest income | $ | 301,699 | $ | 209,604 | $ | 168,291 | $ | 171,732 | $ | 162,194 | ||||||||||||||||||||||
| Interest expense | 129,583 | 88,874 | 71,844 | 76,454 | 71,537 | |||||||||||||||||||||||||||
| Net interest income | 172,116 | 120,730 | 96,447 | 95,278 | 90,657 | |||||||||||||||||||||||||||
| Provision for credit losses | 4,268 | 4,002 | 2,738 | 3,700 | 4,092 | |||||||||||||||||||||||||||
| Net interest income after provision for credit losses | 167,848 | 116,728 | 93,709 | 91,578 | 86,565 | |||||||||||||||||||||||||||
| Other income (excluding equity investments) | 13,029 | 10,945 | 7,102 | 9,181 | 12,311 | |||||||||||||||||||||||||||
| Net (loss) gain on equity investments | (10) | (347) | (354) | 230 | (7) | |||||||||||||||||||||||||||
| Operating expenses (excluding non-core operations) | 114,335 | 87,165 | 69,125 | 71,227 | 72,390 | |||||||||||||||||||||||||||
| Restructuring (release) charges | (49) | (71) | 128 | 7,379 | 4,147 | |||||||||||||||||||||||||||
| Credit risk transfer execution expense | — | — | — | 1,283 | — | |||||||||||||||||||||||||||
| FDIC special assessment release | — | — | — | — | (210) | |||||||||||||||||||||||||||
| Merger-related expenses | 37,088 | 42,765 | 4,150 | 4,253 | — | |||||||||||||||||||||||||||
| Income (loss) before provision for income taxes | 29,493 | (2,533) | 27,054 | 16,847 | 22,542 | |||||||||||||||||||||||||||
| Provision for income taxes | 13,031 | 496 | 6,548 | 3,754 | 5,156 | |||||||||||||||||||||||||||
| Net income (loss) | 16,462 | (3,029) | 20,506 | 13,093 | 17,386 | |||||||||||||||||||||||||||
| Net income attributable to non-controlling interest | — | — | — | — | 56 | |||||||||||||||||||||||||||
| Net income (loss) attributable to OceanFirst Financial Corp. | $ | 16,462 | $ | (3,029) | $ | 20,506 | $ | 13,093 | $ | 17,330 | ||||||||||||||||||||||
| Net income (loss) available to common stockholders | $ | 16,462 | $ | (3,029) | $ | 20,506 | $ | 13,093 | $ | 17,330 | ||||||||||||||||||||||
Diluted earnings (loss) per share (6) | $ | 0.17 | $ | (0.04) | $ | 0.36 | $ | 0.23 | $ | 0.30 | ||||||||||||||||||||||
| Net accretion/amortization of purchase accounting adjustments included in net interest income | $ | 7,697 | $ | 1,151 | $ | 59 | $ | 222 | $ | 510 | ||||||||||||||||||||||
22
(continued)
| At or For the Three Months Ended | ||||||||||||||||||||||||||||||||
| September 30, | June 30, | March 31, | December 31, | September 30, | ||||||||||||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | ||||||||||||||||||||||||||||
Selected Financial Ratios and Other Data(1) (2): | ||||||||||||||||||||||||||||||||
| Performance Ratios (Annualized): | ||||||||||||||||||||||||||||||||
Return (loss) on average assets (3) | 0.28 | % | (0.07) | % | 0.57 | % | 0.36 | % | 0.51 | % | ||||||||||||||||||||||
Return (loss) on average tangible assets (3) (4) | 0.29 | (0.07) | 0.59 | 0.38 | 0.53 | |||||||||||||||||||||||||||
Return (loss) on average stockholders’ equity (3) | 2.70 | (0.63) | 4.95 | 3.12 | 4.15 | |||||||||||||||||||||||||||
Return (loss) on average tangible stockholders’ equity (3) (4) | 3.63 | (0.88) | 7.22 | 4.57 | 6.13 | |||||||||||||||||||||||||||
Return (loss) on average tangible common equity (3) (4) | 3.63 | (0.88) | 7.22 | 4.57 | 6.13 | |||||||||||||||||||||||||||
| Stockholders’ equity to total assets | 10.25 | 10.36 | 11.47 | 11.42 | 11.54 | |||||||||||||||||||||||||||
Tangible stockholders’ equity to tangible assets (4) | 7.83 | 7.91 | 8.15 | 8.09 | 8.12 | |||||||||||||||||||||||||||
Tangible common equity to tangible assets (4) | 7.83 | 7.91 | 8.15 | 8.09 | 8.12 | |||||||||||||||||||||||||||
| Net interest rate spread | 2.65 | 2.55 | 2.44 | 2.36 | 2.36 | |||||||||||||||||||||||||||
| Net interest margin | 3.18 | 3.05 | 2.93 | 2.87 | 2.91 | |||||||||||||||||||||||||||
| Operating expenses to average assets | 2.58 | 3.01 | 2.05 | 2.33 | 2.23 | |||||||||||||||||||||||||||
Efficiency ratio (5) | 81.76 | 98.88 | 71.13 | 80.37 | 74.13 | |||||||||||||||||||||||||||
| Loan-to-deposit ratio | 91.20 | 91.60 | 99.70 | 100.60 | 101.20 | |||||||||||||||||||||||||||
| For the Nine Months Ended September 30, | ||||||||||||||
| 2026 | 2025 | |||||||||||||
| Performance Ratios (Annualized): | ||||||||||||||
Return on average assets (3) | 0.25 | % | 0.54 | % | ||||||||||
Return on average tangible assets (3) (4) | 0.25 | 0.56 | ||||||||||||
Return on average stockholders’ equity (3) | 2.26 | 4.29 | ||||||||||||
Return on average tangible stockholders’ equity (3) (4) | 3.14 | 6.28 | ||||||||||||
Return on average tangible common equity (3) (4) | 3.14 | 6.28 | ||||||||||||
| Net interest rate spread | 2.56 | 2.36 | ||||||||||||
| Net interest margin | 3.07 | 2.91 | ||||||||||||
| Operating expenses to average assets | 2.58 | 2.12 | ||||||||||||
Efficiency ratio (5) | 84.51 | 70.64 | ||||||||||||
23
(continued)
| At or For the Three Months Ended | ||||||||||||||||||||||||||||||||
| September 30, | June 30, | March 31, | December 31, | September 30, | ||||||||||||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | ||||||||||||||||||||||||||||
| Trust and Asset Management: | ||||||||||||||||||||||||||||||||
| Wealth assets under administration and management (“AUA/M”) | $ | 158,057 | $ | 158,650 | $ | 142,962 | $ | 142,030 | $ | 143,708 | ||||||||||||||||||||||
| Nest Egg AUA/M | 502,243 | 503,818 | 469,586 | 485,606 | 463,906 | |||||||||||||||||||||||||||
| Total AUA/M | 660,300 | 662,468 | 612,548 | 627,636 | 607,614 | |||||||||||||||||||||||||||
| Per Share Data: | ||||||||||||||||||||||||||||||||
Cash dividends per common share (6) | $ | 0.20 | $ | 0.20 | $ | 0.20 | $ | 0.20 | $ | 0.20 | ||||||||||||||||||||||
Book value per common share at end of period (6) | 24.32 | 24.50 | 28.98 | 28.97 | 28.81 | |||||||||||||||||||||||||||
Tangible book value per common share at end of period (4) (6) | 18.08 | 18.19 | 19.86 | 19.79 | 19.52 | |||||||||||||||||||||||||||
Common shares outstanding at end of period (6) | 98,507,991 | 98,416,195 | 57,600,069 | 57,390,569 | 57,388,603 | |||||||||||||||||||||||||||
| Number of full-service customer facilities: | 72 | 71 | 41 | 41 | 40 | |||||||||||||||||||||||||||
| Quarterly Average Balances | ||||||||||||||||||||||||||||||||
| Total securities | $ | 5,145,177 | $ | 2,789,029 | $ | 2,282,663 | $ | 2,339,646 | $ | 1,990,917 | ||||||||||||||||||||||
| Loans receivable, net | 16,173,361 | 12,929,839 | 10,992,163 | 10,724,240 | 10,278,610 | |||||||||||||||||||||||||||
| Total interest-earning assets | 21,492,883 | 15,877,684 | 13,357,862 | 13,157,360 | 12,363,997 | |||||||||||||||||||||||||||
| Total goodwill and intangibles | 618,356 | 557,717 | 526,228 | 529,006 | 533,835 | |||||||||||||||||||||||||||
| Total assets | 23,307,757 | 17,277,025 | 14,550,698 | 14,337,776 | 13,551,194 | |||||||||||||||||||||||||||
| Time deposits | 3,798,395 | 2,990,624 | 2,372,824 | 2,270,671 | 2,105,734 | |||||||||||||||||||||||||||
| Total deposits (including non-interest-bearing deposits) | 17,758,436 | 13,328,742 | 11,076,407 | 11,122,681 | 10,263,523 | |||||||||||||||||||||||||||
| Total borrowings | 2,727,837 | 1,770,304 | 1,621,709 | 1,350,390 | 1,432,196 | |||||||||||||||||||||||||||
| Total interest-bearing liabilities | 17,594,770 | 12,991,485 | 10,966,327 | 10,717,860 | 9,975,062 | |||||||||||||||||||||||||||
| Non-interest bearing deposits | 2,891,503 | 2,107,561 | 1,731,789 | 1,755,211 | 1,720,657 | |||||||||||||||||||||||||||
| Stockholders' equity | 2,417,540 | 1,930,902 | 1,678,482 | 1,665,201 | 1,655,893 | |||||||||||||||||||||||||||
Tangible stockholders’ equity (4) | 1,799,184 | 1,373,185 | 1,152,254 | 1,136,195 | 1,122,058 | |||||||||||||||||||||||||||
| Quarterly Yields and Costs | ||||||||||||||||||||||||||||||||
| Total securities | 4.87 | % | 4.21 | % | 3.96 | % | 4.10 | % | 3.83 | % | ||||||||||||||||||||||
| Loans receivable, net | 5.82 | 5.55 | 5.34 | 5.43 | 5.49 | |||||||||||||||||||||||||||
| Total interest-earning assets | 5.57 | 5.29 | 5.10 | 5.19 | 5.21 | |||||||||||||||||||||||||||
| Time deposits | 3.08 | 3.31 | 3.55 | 3.68 | 3.73 | |||||||||||||||||||||||||||
| Total cost of deposits (including non-interest-bearing deposits) | 2.17 | 2.06 | 1.97 | 2.13 | 2.06 | |||||||||||||||||||||||||||
| Total borrowed funds | 4.74 | 4.66 | 4.54 | 4.95 | 5.07 | |||||||||||||||||||||||||||
| Total interest-bearing liabilities | 2.92 | 2.74 | 2.66 | 2.83 | 2.85 | |||||||||||||||||||||||||||
| Net interest spread | 2.65 | 2.55 | 2.44 | 2.36 | 2.36 | |||||||||||||||||||||||||||
| Net interest margin | 3.18 | 3.05 | 2.93 | 2.87 | 2.91 | |||||||||||||||||||||||||||
(1) With the exception of end of quarter ratios, all ratios are based on average daily balances.
(2) Performance ratios for each period are presented on a GAAP basis and include non-core operations. Refer to “Other Items - Non-GAAP Reconciliation.”
(3) Ratios for each period are based on net income available to common stockholders.
(4) Tangible stockholders’ equity and tangible assets exclude goodwill and other intangibles. Tangible common equity (also referred to as “tangible book value”) excludes goodwill, intangibles and preferred equity. Refer to “Other Items - Non-GAAP Reconciliation.”
(5) Efficiency ratio represents the ratio of operating expenses to the aggregate of other income and net interest income.
(6) Shares include NVCE stock of 1,812,000 as of September 30, 2026 and June 30, 2026. Those shares are participating securities, and are presented on an as-converted common stock equivalent basis.
24
OceanFirst Financial Corp.
OTHER ITEMS
(dollars in thousands, except per share amounts)
NON-GAAP RECONCILIATION
| For the Three Months Ended | ||||||||||||||||||||||||||||||||
| September 30, | June 30, | March 31, | December 31, | September 30, | ||||||||||||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | ||||||||||||||||||||||||||||
| Core Earnings: | ||||||||||||||||||||||||||||||||
Net income available to common stockholders (GAAP) | $ | 16,462 | $ | (3,029) | $ | 20,506 | $ | 13,093 | $ | 17,330 | ||||||||||||||||||||||
| Adjustments to exclude the impact of non-recurring and non-core items: | ||||||||||||||||||||||||||||||||
| Net loss (gain) on equity investments | 10 | 347 | 354 | (230) | 7 | |||||||||||||||||||||||||||
| Restructuring (release) charges | (49) | (71) | 128 | 7,379 | 4,147 | |||||||||||||||||||||||||||
| Credit risk transfer execution expense | — | — | — | 1,283 | — | |||||||||||||||||||||||||||
| FDIC special assessment release | — | — | — | — | (210) | |||||||||||||||||||||||||||
| Merger-related expenses | 37,088 | 42,765 | 4,150 | 4,253 | — | |||||||||||||||||||||||||||
| Income tax benefit on items | (6,586) | (9,467) | (806) | (2,254) | (926) | |||||||||||||||||||||||||||
Core earnings (Non-GAAP) | $ | 46,925 | $ | 30,545 | $ | 24,332 | $ | 23,524 | $ | 20,348 | ||||||||||||||||||||||
| Income tax expense | $ | 13,031 | $ | 496 | $ | 6,548 | $ | 3,754 | $ | 5,156 | ||||||||||||||||||||||
| Provision for credit losses | 4,268 | 4,002 | 2,738 | 3,700 | 4,092 | |||||||||||||||||||||||||||
| Less: income tax benefit on non-core items | (6,586) | (9,467) | (806) | (2,254) | (926) | |||||||||||||||||||||||||||
Core earnings PTPP (Non-GAAP) | $ | 70,810 | $ | 44,510 | $ | 34,424 | $ | 33,232 | $ | 30,522 | ||||||||||||||||||||||
| Core earnings diluted earnings per share | $ | 0.48 | $ | 0.43 | $ | 0.43 | $ | 0.41 | $ | 0.36 | ||||||||||||||||||||||
| Core earnings PTPP diluted earnings per share | $ | 0.72 | $ | 0.63 | $ | 0.60 | $ | 0.58 | $ | 0.54 | ||||||||||||||||||||||
| Core Ratios (Annualized): | ||||||||||||||||||||||||||||||||
| Return on average assets | 0.80 | % | 0.71 | % | 0.68 | % | 0.65 | % | 0.60 | % | ||||||||||||||||||||||
| Return on average tangible stockholders’ equity | 10.35 | 8.92 | 8.56 | 8.21 | 7.19 | |||||||||||||||||||||||||||
| Return on average tangible common equity | 10.35 | 8.92 | 8.56 | 8.21 | 7.19 | |||||||||||||||||||||||||||
| Efficiency ratio | 61.75 | 66.20 | 66.76 | 68.19 | 70.30 | |||||||||||||||||||||||||||
25
| For the Nine Months Ended September 30, | ||||||||||||||
| 2026 | 2025 | |||||||||||||
| Core Earnings: | ||||||||||||||
Net income available to common stockholders (GAAP) | $ | 33,939 | $ | 54,035 | ||||||||||
| Adjustments to exclude the impact of non-recurring and non-core items: | ||||||||||||||
| Net loss (gain) on equity investments | 711 | (686) | ||||||||||||
| Restructuring charges | 8 | 4,147 | ||||||||||||
| FDIC special assessment release | — | (210) | ||||||||||||
| Merger related expenses | 84,003 | — | ||||||||||||
| Income tax benefit on items | (16,859) | (762) | ||||||||||||
| Loss on redemption of preferred stock | — | 1,842 | ||||||||||||
Core earnings (Non-GAAP) | $ | 101,802 | $ | 58,366 | ||||||||||
| Income tax expense | $ | 20,075 | $ | 17,735 | ||||||||||
| Provision for credit losses | 11,008 | 12,471 | ||||||||||||
| Less: income tax benefit on non-core items | (16,859) | (762) | ||||||||||||
Core earnings PTPP (Non-GAAP) | $ | 149,744 | $ | 89,334 | ||||||||||
| Core diluted earnings per share | $ | 1.35 | $ | 1.01 | ||||||||||
| Core earnings PTPP diluted earnings per share | $ | 1.99 | $ | 1.55 | ||||||||||
| Core Ratios (Annualized): | ||||||||||||||
| Return on average assets | 0.74 | % | 0.58 | % | ||||||||||
| Return on average tangible stockholders’ equity | 9.43 | 6.79 | ||||||||||||
| Return on average tangible common equity | 9.43 | 6.79 | ||||||||||||
| Efficiency ratio | 64.38 | 69.49 | ||||||||||||
26
(continued)
| September 30, | June 30, | March 31, | December 31, | September 30, | ||||||||||||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | ||||||||||||||||||||||||||||
| Tangible Equity: | ||||||||||||||||||||||||||||||||
| Total stockholders' equity | $ | 2,395,971 | $ | 2,411,080 | $ | 1,669,368 | $ | 1,662,550 | $ | 1,653,427 | ||||||||||||||||||||||
| Less: | ||||||||||||||||||||||||||||||||
| Goodwill | 530,846 | 529,836 | 517,481 | 517,481 | 523,308 | |||||||||||||||||||||||||||
| Intangibles | 84,491 | 90,613 | 8,198 | 9,046 | 9,934 | |||||||||||||||||||||||||||
| Tangible stockholders' equity | 1,780,634 | 1,790,631 | 1,143,689 | 1,136,023 | 1,120,185 | |||||||||||||||||||||||||||
| Less: | ||||||||||||||||||||||||||||||||
| Preferred stock | — | — | — | — | — | |||||||||||||||||||||||||||
| Tangible common equity | $ | 1,780,634 | $ | 1,790,631 | $ | 1,143,689 | $ | 1,136,023 | $ | 1,120,185 | ||||||||||||||||||||||
| Tangible Assets: | ||||||||||||||||||||||||||||||||
| Total assets | $ | 23,370,456 | $ | 23,270,010 | $ | 14,556,336 | $ | 14,564,317 | $ | 14,324,664 | ||||||||||||||||||||||
| Less: | ||||||||||||||||||||||||||||||||
| Goodwill | 530,846 | 529,836 | 517,481 | 517,481 | 523,308 | |||||||||||||||||||||||||||
| Intangibles | 84,491 | 90,613 | 8,198 | 9,046 | 9,934 | |||||||||||||||||||||||||||
| Tangible assets | $ | 22,755,119 | $ | 22,649,561 | $ | 14,030,657 | $ | 14,037,790 | $ | 13,791,422 | ||||||||||||||||||||||
| Tangible stockholders' equity to tangible assets | 7.83 | % | 7.91 | % | 8.15 | % | 8.09 | % | 8.12 | % | ||||||||||||||||||||||
| Tangible common equity to tangible assets | 7.83 | % | 7.91 | % | 8.15 | % | 8.09 | % | 8.12 | % | ||||||||||||||||||||||
27
ACQUISITION DATE - FAIR VALUE BALANCE SHEET
The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the acquisition date of Flushing, net of the total consideration paid (in thousands):
| At June 1, 2026 | ||||||||||||||||||||
| Flushing Book Value | Purchase Accounting Adjustments | Estimated Fair Value | ||||||||||||||||||
| Total Purchase Price: | 538,351 | |||||||||||||||||||
| Assets Acquired: | ||||||||||||||||||||
| Cash and cash equivalents | $ | 308,470 | $ | — | $ | 308,470 | ||||||||||||||
| Securities | 1,560,808 | (332) | 1,560,476 | |||||||||||||||||
| Loans receivable, net of allowance for loan credit losses | 5,221,067 | (226,079) | 4,994,988 | |||||||||||||||||
| Loans held-for-sale | 1,309,849 | (106,635) | 1,203,214 | |||||||||||||||||
| Core deposit intangible | 647 | 84,353 | 85,000 | |||||||||||||||||
| Other assets | 457,057 | 76,557 | 533,614 | |||||||||||||||||
| Total assets acquired | 8,857,898 | (172,136) | 8,685,762 | |||||||||||||||||
| Liabilities assumed: | ||||||||||||||||||||
| Deposits | 7,436,454 | 7,497 | 7,443,951 | |||||||||||||||||
| FHLB advances and other borrowings | 406,241 | (5,894) | 400,347 | |||||||||||||||||
| Other liabilities | 316,879 | (401) | 316,478 | |||||||||||||||||
| Total liabilities assumed | 8,159,574 | 1,202 | 8,160,776 | |||||||||||||||||
| Net assets acquired | $ | 698,324 | $ | (173,338) | $ | 524,986 | ||||||||||||||
| Goodwill recorded in the merger | $ | 13,365 | ||||||||||||||||||
The calculation of goodwill is subject to change for up to one year after the date of acquisition as additional information relative
to the closing date estimates and uncertainties become available. As the Company finalizes its review of the acquired assets and
liabilities, certain adjustments to the recorded carrying values may be required.
28
. . . 1 OceanFirst Bank OceanFirst Financial Corp. Q3 2026 Earnings Release Supplement(1) (1) The Q3 2026 Earnings Release Supplement should be read in conjunction with the Earnings Release furnished as Exhibit 99.1 to the Form 8-K filed with the SEC on October 27, 2026. OCEANFIRST BANK | O c t o b e r 27, 2026 Exhibit 99.2
. . .Legal Disclaimer 2 FORWARD LOOKING STATEMENTS. In addition to historical information, this presentation contains certain forward-looking statements within the meaning of the federal securities laws, which are based on certain assumptions and describe future plans, strategies and expectations of OceanFirst Financial Corp (the “Company”). Forward looking statements may be identified by the use of the words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “could,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. These statements are based on various assumptions, whether or not identified in this document, and on the current expectations of the Company’s management and are not predictions of actual performance, and, as a result, are subject to risks and uncertainties. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict, may differ from assumptions and many are beyond the control of the Company. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. Factors which could have a material adverse effect on the operations of the Company and its subsidiaries include, but are not limited to: changes in interest rates, inflation, the shape of the yield curve, general economic conditions, including potential recessionary conditions, levels of unemployment in the Company’s lending area, real estate market values in the Company’s lending area, potential goodwill impairment, natural disasters, potential increases to flood insurance premiums, the current or anticipated impact of military conflict, terrorism or other geopolitical events, the imposition of tariffs or other domestic or international governmental policies, trade restrictions and retaliatory measures impacting the Company’s borrowers and the broader economy, the effects of a potential future federal government shutdown, debt ceiling impasses or fiscal uncertainty, the level of prepayments on loans and mortgage-backed securities, legislative/regulatory changes, monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, the quality or composition of the loan or investment portfolios, demand for loan products, deposit flows, the availability of low-cost funding, changes in liquidity, including the size and composition of the Company’s deposit portfolio and the percentage of uninsured deposits in the portfolio, changes in capital management and balance sheet strategies and the ability to successfully implement such strategies, competition, demand for financial services in the Company’s market area, our ability to enter into new markets and capitalize on growth opportunities, the adequacy of and changes in the economic assumptions and methodology for computing the allowance for credit losses, availability of capital, our ability to maintain and increase market share and control expenses, changes in investor sentiment and consumer spending, borrowing and savings habits, changes in accounting principles, risks associated with cybersecurity threats, data breaches, ransomware attacks, or other failures in the Company’s operational or security systems or infrastructure, including the risks arising from the Company’s dependence on third-party service providers and vendors, the Company’s ability to achieve the estimated cost savings and efficiencies from the Flushing acquisition, the failure to maintain current technologies and the operational risks associated with the adoption of artificial intelligence and other emerging technologies, failure to retain or attract employees, the impact of pandemics on our operations and financial results and those of our customers and the Bank’s ability to successfully integrate acquired operations. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of OceanFirst’s Annual Report on Form 10-K for the year ended December 31, 2025, and other documents filed by OceanFirst from time to time with the U.S. Securities and Exchange Commission (the “SEC”). The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. NON-GAAP FINANCIAL INFORMATION. This presentation contains certain non-GAAP (generally accepted accounting principles) measures. These non-GAAP measures, as calculated by the Company, are not necessarily comparable to similarly titled measures reported by other companies. Additionally, these non-GAAP measures are not measures of financial performance or liquidity under GAAP and should not be considered alternatives to the Company's other financial information determined under GAAP. See reconciliations of certain non-GAAP measures included at the end of this presentation and in the Company’s Earnings Release furnished as Exhibit 99.1 to the Form 8-K as filed with the SEC on October 27, 2026. MARKET AND INDUSTRY DATA. This presentation references certain market, industry and demographic data, forecasts and other statistical information. We have obtained this data, forecasts and information from various independent, third-party industry sources and publications. Nothing in the data, forecasts or information used or derived from third-party sources should be construed as advice. Some data and other information are also based on our good faith estimates, which are derived from our review of industry publications and surveys and independent sources. We believe that these sources and estimates are reliable but have not independently verified them. Statements as to our market position are based on market data currently available to us. These estimates involve inherent risks and uncertainties and are based on assumptions that are subject to change.
. . . 33 OceanFirst Bank Quarterly Earnings Update
. . .Q3-26 Financial Highlights (1) For non-GAAP financial measures, please refer to the “Non-GAAP Reconciliations” in the Appendix for a reconciliation to GAAP financial information (2) Estimated CET1 Ratio Financial Highlights $0.48 Core Diluted EPS(1) $172 million Net Interest Income 0.80% Core ROAA(1) 10.35% Core ROTCE(1) $0.72 Core PTPP Diluted EPS(1) 10.6% CET1 Ratio(2) • Completed the Flushing core system conversion in September, bringing the combined company onto a single operating platform. With integration substantially complete, both the remaining cost savings and a return to excess capital accretion are anticipated in Q4-26. • Net interest income of $172.1 million increased $51.4 million (or 43%) from the linked quarter and $81.5 million (or 90%) from Q3-25, the ninth consecutive quarterly increase, reflecting a full quarter of Flushing and $5.5 million of non-recurring interest income from payoffs of acquired non-performing assets. • Commercial loan originations increased 15% to $735 million, driving total loan growth of $216 million (5% annualized). Forward pipeline remains robust totaling $541 million at Q3-26. • Capital remains strong with our CET1 Ratio(2) relatively flat from the linked quarter at 10.6%. 4
. . .Loan Portfolio Trends Consistent loan growth with increasing portfolio yields ($’millions) Total loans increased $216 million (5% annualized). We maintained strong momentum, delivering $735 million (15% increase) in loan originations and had $541 million in loan pipeline at Q3-26. 5,211 5,421 5,479 9,125 9,328997 986 1,017 1,801 1,833 999 1,228 1,302 1,908 1,998 3,135 3,194 3,128 3,245 3,143 5.49% 216 Q3-25 5.43% 203 Q4-25 5.34% 198 Q1-26 5.55% 197 Q2-26 5.82% 189 Q3-26 10,558 11,032 11,124 16,276 16,491 Average Loan Yield Home Equity & Consumer Residential C&I - non-real estate C&I - real estate CRE Investor-Owned 5
. . .Deposit Trends – Deposits increased $319 million (or 7% annualized) of which non-maturity deposits grew $178 million. – Total weighted average cost of deposits of 2.17% during Q3-26. – Loan-to-deposit ratio of 91.2% Deposit Mix Remains Stable ($’millions) 2,215 2,469 2,387 4,211 4,3521,000 986 986 1,059 1,047 1,398 1,413 1,489 3,376 3,4714,091 4,354 4,537 6,277 6,334 1,732 1,742 1,757 2,837 2,875 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 10,436 10,964 11,156 17,760 18,079 Non-Int. Bearing Int. Bearing Checking Money Market Savings Time Deposits 6 Cost of Deposits Spot Avg Type of Account Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Q3-26 Int. Bearing Checking 2.08% 2.05% 2.15% 2.35% 2.46% 2.46% Money Market 2.75% 2.43% 2.43% 2.92% 2.84% 2.92% Savings 0.63% 0.55% 0.52% 0.52% 0.54% 0.52% Time Deposits 3.74% 3.64% 3.48% 3.53% 3.54% 3.08% Total (incl. non-int. bearing) 2.04% 2.00% 1.99% 2.26% 2.28% 2.17%
. . .Net Interest Income and Net Interest Margin Trends Net Interest Margin NIM Bridge 2.91% Q3-25 2.87% Q4-25 2.93% Q1-26 3.05% Q2-26 3.18% Q3-26 NIM Net Interest Income ($’000s) 90,657 Q3-25 95,278 Q4-25 96,447 Q1-26 120,730 Q2-26 172,116 Q3-26 Net Interest Income Net interest income increased $51 million (or 43%) and $81 million (or 90%) compared to Q2-26 and Q3-25, respectively, reflecting a full quarter of Flushing and $5.5 million of non- recurring interest income. Net interest margin of 3.18% increased 13 bps from the linked quarter; which included ~10 bps of one-time interest recoveries on non-performing assets. 7 Q2-26 NIM 0.11% Impact of Purchase Accounting 0.10% Impact of Non-Recurring NPA Payoffs -0.08% Impact of Acquisition & other Portfolio changes Q3-26 NIM 3.05% 3.18% (1) (2) (1) Non-Recurring Interest Income related to payoffs of non-performing assets (2) Net Impact of Full Quarter Acquisition Balances and other related changes
. . . Core Efficiency Ratio(1) Expense Discipline and Focused Investment Core Non-Interest Expense(1) ($’000) 10,517 9,757 9,399 13,329 20,0943,467 3,579 3,222 3,405 3,596 7,164 7,104 7,052 7,655 12,291 4,130 4,617 7,029 6,701 6,753 8,444 12,427 41,387 40,984 39,484 50,202 61,310 2,826 Q3-25 3,102 Q4-25 3,215 Q1-26 Q2-26 Q3-26 72,390 71,227 69,125 87,165 114,335 Compensation & employee benefits Occupancy & equipment FDIC & regulatory assessments Data processing Professional fees Other Opex Q3-26 core non-interest expenses increased by $27.2 million (or 31%) from the linked quarter, driven primarily by a full quarter of Flushing activity across all expense categories. Increased expenses from a full quarter of Flushing operations were partially offset by initial cost savings, in line with previously announced targets. (2) 8 70.30% Q3-25 68.19% Q4-25 66.76% Q1-26 66.20% Q2-26 61.75% Q3-26 2.12% 1.97% 1.93% 2.02% 1.95% Core Efficiency Ratio Core Non-Interest Expense to Average Assets (Annualized) (1) For non-GAAP financial measures, please refer to the “Non-GAAP Reconciliations” in the Appendix for a reconciliation to GAAP financial information. (2) Other Opex includes marketing, check card processing, amortization of intangibles, and other expenses.
. . .Generating Consistent Returns Book Value and Tangible Book Value per Common Share(1) ($) Core ROAA(1) and ROTCE(1) Capital remains strong and above “well capitalized” levels. CET-1 ratio declined modestly due to loan growth and the impact of non-recurring Flushing related merger expenses.(3) Capital accretion expected to resume in Q4-26. Capital Management ($’millions) 19.52 19.79 19.86 18.19 18.08 28.81 28.97 28.98 24.50 24.32 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Book Value per Share Tangible Book Value per Common Share 12 12 12 12 20 3 4 8.1% 10.6% 0 Q3-25 8.1% 10.7% 0 Q4-25 8.2% 10.7% Q1-26 7.9% 10.7% Q2-26 7.8% 10.6% 1 Q3-26 Tangible Stockholders’ Equity to Tangible Assets(1) CET1 Share Repurchases Common Dividend 9 (1) For non-GAAP financial measures, please refer to the “Non-GAAP Reconciliations” in the Appendix for a reconciliation to GAAP financial information. (2) Represents share repurchases from employees who have elected to have shares withheld to cover withholding taxes. These shares are not included as repurchases under the authorized share repurchase programs. (3) Estimated CET1 Ratio (2) (3) 0.60 0.65 0.68 0.71 0.80 7.19% Q3-25 8.21% Q4-25 8.56% Q1-26 8.92% Q2-26 10.35% Q3-26 Core ROTCE Core ROAA
. . .Management Q4-26 and Q1-27 Outlook 10 Q4-26 Q1-27 Comments Loans ~1-2% per quarter • Expecting continued steady growth. • Credit is expected to remain benign and reserves sufficient. Deposits Consistent with loan growth • Maintain loan-to-deposit ratio <=95%. Net Interest Margin Stable to modest expansion; low single digit • Subject to expected growth and interest rate trends. • 1 rate hike in December 2026 and 1 rate hike in March 2027. Other Income ~$13 million • Subject to loan swap activity. Operating Expenses ~$110 million ~$105 million • Remaining cost savings are expected to flow through operating expenses in October. • Additional strategies focused on improving operating leverage on our baseline operating model are in process, moving our quarterly run-rate towards $105 million. Capital Strong CET1 ratio (>10.5%) • Will manage over time to support anticipated growth, while minimizing excess capital accumulation above 11% CET1 ratio.
. . . 1.53% Strong asset quality trends driven by prudent growth and strong credit risk management Quarterly Credit Trends (1 of 2) Non-Performing Loans(1) and Assets(2) ($’000) Special Mention and Substandard Loans ($’000) Criticized loans as a % of total loans remains stable at 3.13%. The increase in Q2-26 was driven by the Flushing acquisition. 11 104,773 93,715 154,441 370,650 388,168 136,705 127,843 1.17% 18,972 Q3-25 1.01% 18,161 Q4-25 1.53% 15,901 Q1-26 3.12% Q2-26 3.13% Q3-26 (1) PCD loans are not included in these metrics. Refer to Asset Quality section in the Earnings Release for additional information. (2) Q2-26 Includes non-performing investments of $20.7 million acquired from Flushing. (3) OCFC criticized loans exclude other real estate owned. OCFC Criticized Loans / Total Loans Special Mention Substandard(3) 35,586 22,359 28,738 54,051 60,872 7,498 10,266 10,393 13,453 13,575 0.34% 0.30% Q3-25 0.20% 0.22% Q4-25 0.26% 0.27% Q1-26 0.33% 0.38% Q2-26 0.37% 0.32% Q3-26 NPL to total loans NPA to total assets OREO Non-performing loans
. . .Quarterly Credit Trends (2 of 2) NCOs / (Recoveries) and Provision for Credit Loss Expense ($’000) 12 Loan Allowance for Credit Losses (ACL) ($’000) 81,236 83,726 86,110 209,716 212,288 0.77% Q3-25 0.76% Q4-25 0.77% Q1-26 1.29% Q2-26 1.29% Q3-26 ACL % of Total Loans ACL 4,092 3,700 2,738 4,002 4,268 617 1,974 701 1,514 1,456 0.02% Q3-25 0.07% Q4-25 0.03% Q1-26 0.05% Q2-26 0.04% Q3-26 Net Charge-offs / Avg Loans (annualized) Provision Expense Net Charge-offs (Recoveries)
. . . COVID-19 Pandemic Track Record of Strong Credit Performance From 2006 to Q3-26, inclusive of the Global Financial Crisis, Hurricane Sandy, and the COVID-19 Pandemic, OCFC’s NCO to average loans totaled 12 bps per year compared to 67 bps for all commercial banks between $10–$50 billion in assets. From 2006 to Q3-26, peak net charge-offs to average loans for OCFC totaled 56 bps in 2011. Peak charge-offs for commercial banks between $10 - $50 billion in assets were 253 bps in 2009. Global Financial Crisis Hurricane Sandy 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q2-26 Q3-26 OCFC NCO / Avg Loans Commercial Banks ($10-50 bn) NCO / Avg Loans(1) 13 Source: S&P Global. (1) Any period with net recoveries is denoted as 0% NCO / Avg Loans in the graph. (2) Commercial bank reporting is on a one quarter lag (2)
. . . 1414 OceanFirst Bank Company Overview
. . . Tailored Footprint Across Key Markets(5) Overview of OceanFirst Corporate Overview & Market Data Ticker OCFC (NASDAQ) HQ Red Bank, NJ Branch Network 72 branches; 8 commercial banking centers Moody’s and KBRA Ratings(1) Baa3 and BBB+ Market Cap at 9/30/26 $1.6 billion Balance Sheet and Capital (Q1-26) Assets $23.4 billion Net Loans $16.3 billion Deposits $18.1 billion Non-performing Loans / Loans(2) 0.37% Tang. Equity / Tang. Assets(3) 7.8% CET1 Ratio (Estimated) 10.6% Q3-26 Loan Portfolio ($’millions) Q3-26 Deposit Base ($’millions) Core Profitability (Q1-26)2 Net Income $46.9 million EPS $0.48 Net Interest Margin (%)(4) 3.18% Efficiency Ratio (%) 61.8% ROAA (%) 0.80% ROTCE (%) 10.35% Corporate Overview and Market Data Balance Sheet and Capital Q3-26 Core Profitability Q3-26(3) $9,328 CRE Investor -Owned $1,833C&I - real estate $1,998C&I - non-real estate $3,143 Residential $189 Home Eq. & Consumer Note: All data presented is as of September 30, 2026. (1) Moody's: Holding Company Long Term Issuer rating. KBRA: Holding Company Senior Unsecured Debt rating. (2) PCD loans are not included in these metrics. (3) For non-GAAP financial measures, please refer to the “Non-GAAP Reconciliations” in the Appendix for a reconciliation to GAAP financial information. (4) GAAP NIM includes prepayment fee income and purchase accounting accretion. (5) Premier Banking Locations not shown on map located at Third Ave, New York City and Melville, Long Island. $2,875 Non-interest $6,334 Interest Checking$3,471 Money market $1,047Savings $4,352 Time deposits 15 OCFC – Retail Branches (72) OCFC – Commercial Centers (8) PA NJ NYMA MD ✓ Operates in or near five MSAs within the I-95 corridor, the deepest banking market within the U.S. ✓ High-density, contiguous footprint supports efficient growth and cross-sell opportunities ✓ Full-service commercial bank serving retail and commercial clients ✓ Relationship-driven lending model with a diversified product offering
. . .Proven Historical Net Interest Income and Loan Growth 120,262 169,218 240,502 255,971 312,951 305,338 377,477 369,731 334,035 360,223 389,293 3.46% 2016 3.52% 2017 3.71% 2018 3.62% 2019 3.16% 2020 2.93% 2021 3.37% 2022 3.02% 2023 2.72% 2024 2.90% 2025 3.07% YTD Sep-26 Net Interest Margin Net Interest Income Net Interest Income Growth ($’thousands) Net Interest Income CAGR 17% 1,135 1,187 2,023 2,296 3,492 4,378 5,172 5,354 5,288 5,421 9,328 687 758 1,046 1,189 1,616 1,504 1,620 1,610 1,550 2,214 3,831 1,704 1,749 2,045 2,321 2,309 2,480 2,862 2,980 3,050 3,194 3,143 291 281 2016 2017 475 2018 408 2019 339 2020 261 2021 264 2022 203 2025 189 Q3-26 3,817 3,975 5,589 6,214 7,756 8,623 9,918 10,195 10,118 11,032 16,491 230 2023 251 2024 Home Equity & Consumer Residential C&I Investor-Owned CRE Significant Growth in Commercial Loan Portfolio ($’millions) Investor-Owned CRE CAGR 24% C&I CAGR 19% 16 (1) (1) NII CAGR is based on a 2026 Annualized estimate
. . .Balanced Approach to Deposit Pricing and Growth Deposit Composition ($’millions) 646 867 937 1,373 1,542 2,445 2,081 2,469 4,352 877 898 1,491 1,608 1,488 1,399 1,066 986 1,0471,022 1,301 1,413 3,471 1,627 1,954 2,350 2,539 3,647 4,202 3,830 3,912 4,001 4,354 6,334 1,151 1,377 2,133 2,412 2,101 1,657 1,617 1,742 2,875 757 364 661607 2017 570 2018 578 2019 784 2020 736 775 2021 714783 2023 2024 2025 Q3-26 4,188 4,343 5,815 6,329 9,428 9,733 9,675 10,435 10,066 459673 2016 10,964 18,079 2022 Non-interest-bearing deposits Interest-bearing deposits Money Market Savings Time deposits Organic Deposit Growth ($’millions) 2,065 4,343 4,199 5,880 7,534 9,733 9,675 10,435 10,066 10,964 11,139 2,123 1,616 1,894 6,940 2016 2017 2018 449 2019 2020 2021 2022 2023 2024 2025 Q3-26 4,188 5,815 6,329 9,428 18,079 61% 39% Commercial Consumer Total: $18.1B Deposit Stratification 17 Acquired Deposits Organic Deposits Q3-26 Avg. Cost of Deposits 2.17%
. . .Conservative Credit Risk Profile (1) PCD loans are not included in these metrics. Refer to the “Asset Quality” section in the Earnings Release for additional information. 0.54% 2017 0.25% 2018 0.22% 2019 0.32% 2020 0.16% 2021 0.15% 2022 0.19% 2023 0.22% 2024 0.22% 2025 0.38% Q2-26 0.32% Q3-26 NPA/Assets Continued Focus on Credit Risk(1)Non-performing Loans by Type as % of Loans(1) 18 0.05% 2017 0.09% 0.01% 0.03% 0.13% 0.05% 2018 0.05% 0.08% 0.00% 0.12% 0.04% 2019 0.14% 0.17% 0.02% 0.11% 0.03% 2020 0.02% 0.10% 0.00% 0.07% 0.02% 2021 0.07% 0.04% 0.00% 0.06% 0.02% 2022 0.18% 0.00% 0.05% 0.02% 2023 0.10% 0.04% 0.00% 0.10% 0.03% 2024 0.08% 0.04% 0.01% 0.06% 2025 0.24% 0.03% 0.01% 0.04% Q2-26 0.24% 0.21% 0.02% 0.06% Q3-26 0.52% 0.31% 0.29% 0.47% 0.22% 0.04% 0.26% 0.27% 0.20% 0.33% 0.37% 0.15% 0.01% 0.11% 0.19% CRE: IO C&I - Real Estate C&I - Non-Real Estate Residential Consumer 0.01% 0.01%0.02% 0.01%
. . .Business Model Strength Driving Significant Capital Return $12.33 $0.49 $0.55 $1.01 $13.67 2015 $1.04 $1.55 $12.94 2016 $1.09 $2.15 $13.58 2017 $1.39 $2.77 $14.26 2018 $1.97 $3.45 $15.13 2019 $2.25 $4.13 $14.98 2020 $2.86 $4.81 $15.93 2021 $2.98 $5.55 $17.08 2022 $2.98 $6.35 $18.35 2023 $3.35 $7.15 $18.98 2024 $3.74 $7.95 $19.79 2025 $3.86 $8.55 $18.08 Q3-262013 $15.62 $15.53 $16.82 $18.42 $20.55 $21.36 $23.60 $13.95 $27.68 $29.48 $31.48 $30.49 $12.91 2014 $0.94 $25.61 The growth in TBV per common share(1) over the past decade is attributed to: Minimally dilutive and strategic acquisitions including in existing and critical new markets Stable and competitive dividend ‒ 119th consecutive quarter Historical target Payout Ratio of 30% to 50% Q3-26 decrease in TBVPS attributable to the Flushing acquisition Growth Since 2013 Tangible Book Value per Share(1) 46.6% Total Capital Return per Share 147.3% Cumulative Share Repurchase/Share Cumulative Dividends/Share TBVPS 19 (1) For non-GAAP financial measures, please refer to the “Non-GAAP Reconciliations” in the Appendix for a reconciliation to GAAP financial information.
. . .OceanFirst’s AI and Automation 20 Drive operating leverage and scale through automation Enhance the customer experience through best-in-class speed to market, advanced functionality, and service quality Strengthen risk management and operational controls through automation Long-term Strategic Vision Established a centralized Automation Transformation Office (ATO) to govern AI investment with disciplined, ROI-based prioritization, concentrating capital on the highest-value use cases and compressing time-to-deployment across the enterprise Built a unified, governed data platform that serves as the scalable foundation for every downstream AI initiative Deployed conversational AI across our omni-channel platform, elevating customer experience while lowering cost-to-serve Rolled out AI productivity tools enterprise-wide, embedding measurable efficiency gains into every department Adopted AI-assisted software development to speed delivery and redirect engineering toward high-value architecture and business solutions Current State of Automation 2023- 2025 2026- 2027 2028 & onward Foundation & Quick Wins Scale & Integration Optimization & Innovation INFRASTRUCTURE EXPANSION DIFFERENTIATION Enterprise data management upgraded AI governance framework approved Data governance foundation established Employee AI rollout Automation Engineers aligned with business Advanced analytics supporting all business lines Scaled delivery of AI & decisioning capabilities AI-native workflows with human oversight Embedded AI across business lines Enterprise model lifecycle management Controlled AI innovation sandbox Continue to embed AI across business lines Proprietary data & intelligence advantage Centralized intake and ROI- based prioritization Back-office automation & streamlined processing
. . . 21 21 21 OceanFirst Bank Appendix OCEANFIRST BANK | O c t o b e r 2 7 , 2026
. . .Diversified CRE Portfolio with Conservative Risk Profile Underlying collateral is diversified. Low concentration in the Multi-Family portfolio, which represents 7.6% of total assets. Maturity wall is modest and has a minimal impact: Our CRE Investor-Owned maturity wall, totaling $1.5 billion (or 9% of total loans), is set to mature in 2026 and 2027 with weighted average rates of 5.16% and 4.97%, for each respective cohort. CRE Investor-Owned Portfolio by Geography(2) Notes: • All data represents CRE Investor-Owned balances, excluding purchase accounting marks and Construction as of September 30, 2026, unless otherwise noted. • WA rate includes borrower fixed-rate exposure for loans with swap contracts and excludes any benefit from back-to-back rate swaps • WA LTV represents the weighted average of loan balances as of September 30, 2026 divided by their most recent appraisal value, which is generally obtained at the time of origination. • WA DSCR represents the weighted average of net operating income on the property before debt service divided by the loan’s respective annual debt service based on the most recent credit review of the borrower. Footnotes: (1) Other includes underlying co-operatives, single purpose, stores and some living units / mixed use, investor-owned 1-4 family, land / development, and other. (2) Based on location of collateral. 56% 17% 16% NY PA/DE NJ 3% MA 3% MD/DC 5% Other Limited underlying concentration exposure: • NYC Office Central Business District (CBD): $67.2 million 22 CRE Investor-Owned - Collateral Details $'millions CRE: Investor-Owned % of Total WA LTV (%) WA DSCR (x) Office 1,102 12.8% 56.4% 1.76x Retail 1,937 22.5% 56.8% 1.87x Multi-Family 1,766 20.5% 53.9% 1.48x Industrial / Warehouse 1,026 11.9% 50.1% 2.02x Hospitality 283 3.3% 43.0% 1.38x Other (1) 2,488 29.0% 44.0% 1.68x CRE: Investor-Owned 8,602 100.0% 51.2% 1.72x Construction 726 CRE: Investor Owned & Construction Total 9,328 CRE Investor-Owned - Maturity Wall Balance Weighted Average % of Maturity Year ($'millions) Rate (%) LTV (%) DSCR (x) Loans 2026 468 5.16% 60.4% 1.59x 2.84% 2027 997 4.97% 49.4% 1.86x 6.04% Total 1,465 5.03% 52.9% 1.77x 8.88%
. . .Northeast Outperforms Through Credit Cycles… Historically, net charge-offs for Northeastern headquartered banks have greatly outperformed major exchange-traded U.S. banks headquartered in other regions Median net charge-offs / average assets for Northeastern banks averaged 20 bps during the Global Financial Crisis compared to 50 bps for other regions. 23 Source: S&P Global. Note: Commercial bank reporting is on a one quarter lag. COVID-19 Pandemic Hurricane Sandy Global Financial Crisis GFC Peak NCOs 1.1x1.8x 2.2x 4.9x2.8x 0.29% 0.51% 0.63% 0.32% 0.80% 1.43% Northeast Mid Atlantic Southeast Midwest Southwest West
. . .Non-GAAP Reconciliations (1 of 2) 24 Non-GAAP Reconciliation For the Three Months Ended September 30, June 30, March 31, December 31, September 30, 2026 2026 2026 2025 2025 Core Earnings: Net income available to common stockholders (GAAP) $ 16,462 $ (3,029) $ 20,506 $ 13,093 $ 17,330 Adjustments to exclude the impact of non-recurring and non-core items: Net loss (gain) on equity investments 10 347 354 (230) 7 Restructuring (release) charges (49) (71) 128 7,379 4,147 Credit risk transfer execution expense - - - 1,283 - FDIC special assessment release - - - - (210) Merger related expenses 37,088 42,765 4,150 4,253 - Income tax benefit on items (6,586) (9,467) (806) (2,254) (926) Core earnings (Non-GAAP) $ 46,925 $ 30,545 $ 24,332 $ 23,524 $ 20,348 Income tax expense $ 13,031 $ 496 $ 6,548 $ 3,754 $ 5,156 Provision for credit losses 4,268 4,002 2,738 3,700 4,092 Less: income tax benefit on items (6,586) (9,467) (806) (2,254) (926) Core earnings PTPP (Non-GAAP) $ 70,810 $ 44,510 $ 34,424 $ 33,232 $ 30,522 Core earnings diluted earnings per share $ 0.48 $ 0.43 $ 0.43 $ 0.41 $ 0.36 Core earnings PTPP diluted earnings per share $ 0.72 $ 0.63 $ 0.60 $ 0.58 $ 0.54 Core Ratios (Annualized): Return on average assets 0.80% 0.71% 0.68% 0.65% 0.60% Return on average tangible stockholders’ equity 10.35 8.92 8.56 8.21 7.19 Return on average tangible common equity 10.35 8.92 8.56 8.21 7.19 Efficiency ratio 61.75 66.20 66.76 68.19 70.30
. . .Non-GAAP Reconciliations (2 of 2) 25 Non-GAAP Reconciliation For the Three Months Ended September 30, June 30, March 31, December 31, September 30, 2026 2026 2026 2025 2025 Tangible Equity: Total stockholders' equity $ 2,395,971 $ 2,411,080 $ 1,669,368 $ 1,662,550 $ 1,653,427 Less: Goodwill 530,846 529,836 517,481 517,481 523,308 Intangibles 84,491 90,613 8,198 9,046 9,934 Tangible stockholders' equity 1,780,634 1,790,631 1,143,689 1,136,023 1,120,185 Less: Preferred stock - - - - - Tangible common equity $ 1,780,634 $ 1,790,631 $ 1,143,689 $ 1,136,023 $ 1,120,185 Tangible Assets: Total Assets $ 23,370,456 $ 23,270,010 $ 14,556,336 $ 14,564,317 $ 14,324,664 Less: Goodwill 530,846 529,836 517,481 517,481 523,308 Intangibles 84,491 90,613 8,198 9,046 9,934 Tangible Assets $ 22,755,119 $ 22,649,561 $ 14,030,657 $ 14,037,790 $ 13,791,422 Tangible stockholders' equity to tangible assets 7.83% 7.91% 8.15% 8.09% 8.12% Tangible common equity to tangible assets 7.83% 7.91% 8.15% 8.09% 8.12%