OceanFirst Financial Corp. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the SEC on November 6, 2026, reporting third-quarter net income of $16,462 thousand on total assets of $23,370,456 thousand.

Key Highlights

  • Total assets of $23.37 billion as of September 30, 2026, compared with $14.32 billion as of September 30, 2025, according to the filing.
  • Net income of $16,462 thousand for the third quarter of 2026, versus net income of $17,330 thousand attributable to the company in the same quarter a year earlier.
  • Diluted earnings per share of $0.17 for the quarter ended September 30, 2026, compared with $0.30 for the quarter ended September 30, 2025.
  • Net interest income of $172,116 thousand for Q3 2026, up from $90,657 thousand in Q3 2025, as disclosed in the filing.
  • Non-performing loans rose to $140,736 thousand, representing 0.85% of total loans receivable, versus $41,263 thousand, or 0.39%, a year earlier.
  • Cash dividend of $0.20 per share declared for the quarter, with a dividend payout ratio of 117.65% for the period.
  • 96,719,970 shares of common stock outstanding as of November 2, 2026, per the filing cover page.

OceanFirst Financial Q3 2026 Financial Results and Balance Sheet Expansion

OceanFirst Financial Corp. (NASDAQ:OCFC), the holding company for OceanFirst Bank, National Association, reported third-quarter 2026 results showing significant balance sheet growth year over year. According to the filing, total assets reached $23,370,456 thousand at September 30, 2026, compared with $14,324,664 thousand at September 30, 2025. Deposits grew to $18,079,389 thousand from $10,435,994 thousand over the same period. The filing attributes a portion of this expansion to the company's merger activity, including references to Flushing Financial Corporation.

The company disclosed net interest income of $172,116 thousand for the quarter ended September 30, 2026, with a net interest margin of 3.18% and a net interest rate spread of 2.65%. Net income was $16,462 thousand for the quarter, compared with a net loss of $3,029 thousand in the second quarter of 2026 and net income of $17,386 thousand in Q3 2025. The filing notes that performance ratios for Q3 2026 "included a net expense related to a net loss on equity investments, restructuring release, and merger related expenses of $37.0 million, or $30.5 million, net of tax benefit."

Asset quality showed pressure compared with the prior year. Non-performing assets totaled $154,311 thousand, or 0.66% of total assets, as of September 30, 2026, versus $48,761 thousand, or 0.34%, at September 30, 2025. The allowance for loan credit losses as a percent of total loans receivable stood at 1.29% at September 30, 2026, compared with 0.77% a year earlier. The efficiency ratio was reported at 81.76% for Q3 2026, compared with 74.13% for Q3 2025.

What Was Disclosed

OceanFirst Financial Corp. filed its quarterly report covering the period ended September 30, 2026, disclosing balance sheet growth, third-quarter net income of $16,462 thousand, a net interest margin of 3.18%, increased non-performing loans, and the ongoing impact of merger-related expenses.