OceanFirst Financial Corp. (OCFC), holding company for OceanFirst Bank N.A., reported total consolidated assets of $14.6 billion and total stockholders’ equity of $1.7 billion as of December 31, 2025. The company's principal business is originating loans, consisting primarily of commercial real estate and other commercial loans, funded by retail and commercial deposits. Revenues are derived principally from interest on loans and, to a lesser extent, interest on debt and equity securities.
For the year ended December 31, 2025, OCFC reported net income of $71.0 million, a decrease from $100.4 million in 2024. Net interest income increased to $360.2 million from $334.0 million in the prior year, while other income decreased to $44.7 million from $50.2 million. Operating expenses increased to $296.2 million from $245.9 million. The provision for credit losses increased to $16.2 million, compared to $7.7 million in the previous year.
Key operational developments included a strategic partnership with a national mortgage banking company, leading to the discontinuation of residential and other consumer loan originations as of October 15, 2025. Total loans outstanding, including $5.8 million of loans held-for-sale, reached $11.04 billion, with commercial real estate loans comprising 49.1% of the total portfolio. The company also adjusted the presentation of loans secured by owner-occupied commercial real estate to commercial and industrial - real estate to reflect the variation in the management and underlying risk profile of such loans as compared with investor commercial real estate loans.
Looking ahead, OceanFirst Financial Corp. is involved in a pending merger with Flushing Financial Corporation, expected to close in the second quarter of 2026, and a concurrent $225 million investment from Warburg Pincus LLC. These transactions are subject to regulatory and stockholder approvals and customary closing conditions. The company anticipates that the Mergers, the Bank Merger and the Investment will close in the second quarter of 2026.
About OCEANFIRST FINANCIAL CORP
OceanFirst Financial Corp. is a regional bank holding company based in New Jersey, primarily engaged in originating and servicing commercial real estate, residential, and consumer loans. It funds its lending activities through deposits, securities, and borrowings, offering personalized banking services in its primary markets. The company emphasizes community involvement, risk management, and a diversified loan portfolio to deliver financial solutions and stability.
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