OceanFirst Financial reported GAAP earnings per share of $0.23 and core earnings per share of $0.41 for Q4 2025, driven by a fifth consecutive quarter of net interest income growth. Net interest income increased by $5 million, or 5%, sequentially and by 14% year-over-year, underpinned by a $446 million rise in average net loans. Total loan balances grew by $474 million during the quarter, reflecting an 18% annualized growth rate, supported by originations just north of $1 billion for the second straight quarter. The net interest margin declined modestly to 2.87%, a slight move from the prior quarter’s level.

Total deposits rose by $528 million in Q4, with $323 million originating organically across consumer and business lines. The Premier Bank deposit portfolio expanded by $90 million, a 37% sequential gain, while its weighted average cost fell by 36 basis points to 2.28%. Overall deposit costs ticked up modestly due to selective repricing on certain accounts, but management expects deposit funding costs to trend lower over the coming quarters as market rates decline and repricing lags policy rate cuts.

Classified loans rated special mention and substandard declined by 10% quarter-over-quarter to $112 million, representing roughly 1% of total loans. Non-performing loans stood at 0.2% of the loan portfolio, with non-performing assets at 0.22% of total assets. Full-year net charge-offs remained low at five basis points of average loans. Management addressed a brief uptick in 30–89 day delinquencies tied to a single federal lease payment delay, noting no long-term credit concerns. A credit risk transfer transaction completed during the quarter provided approximately 50 basis points of CET1 capital benefit at an annual pre-tax cost under $4 million.

OceanFirst is progressing toward its planned merger with Flushing Financial Corporation, expected to close in Q2 2026 pending regulatory approval, and has secured an investment agreement with Warburg Pincus to support growth initiatives. GAAP operating expenses were $84 million, including $13 million for residential outsourcing, merger-related costs, and CRT expenses; core operating expenses were $71 million, down 2% sequentially. The Common Equity Tier 1 ratio was estimated at 10.7%, and tangible book value per share reached $19.79. The board declared a quarterly cash dividend of $0.20 per share, marking the 116th consecutive quarterly payout. Management reaffirmed standalone guidance for mid- to high-single-digit loan and deposit growth, NIM moving past 3% during the year, and other income of $7–9 million per quarter, without factoring in the Flushing merger contribution.