OceanFirst reports Q2 FY26 results and Flushing acquisition impact
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.
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