OceanFirst Q2 FY26 swings to GAAP net loss of USD 3 million; net interest income rises to USD 120.73 million
Reuters2026/07/30 22:15- OceanFirst swung to a Q2 net loss of USD 3 million, or USD 0.04 a share, from a year-ago profit of USD 16.2 million.
- Net interest income rose 37.4% to USD 120.7 million from a year earlier; net interest margin widened 14 basis points to 3.05%.
- Non-interest expense jumped to USD 129.9 million from USD 71.5 million, including USD 42.8 million of merger-related costs tied to Flushing.
- Completed the Flushing acquisition on June 1, adding USD 8.69 billion of assets, USD 6.19 billion of loans, USD 7.44 billion of deposits, and 30 branches.
- Sold USD 1.31 billion of acquired multifamily loans at 92.25% of par; integration and rebranding are slated for Q3 to capture expected synergies.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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