OceanFirst closes $8.7B Flushing acquisition, sells $1.3B multifamily loans at 7.75% discount

Filed July 31, 2026 · Period ending July 30, 2026 · ~1 min read

Key Changes

• high

  Completed acquisition of Flushing Financial on June 1, adding $8.69B in assets, $6.19B in loans, $7.44B in deposits, and 30 NYC/Long Island branches; received $225M strategic investment from Warburg Pincus.

  Exhibit 99.1 view on EDGAR →
• high

  Sold $1.31B of acquired multifamily loans at 92.25% of par (7.75% discount), reinvesting $1.20B proceeds into investment-grade securities; reduced CRE concentration from 461% to 381% and rent-regulated loan exposure to 2.5% of assets.

  Exhibit 99.2 view on EDGAR →
• high

  Reported Q2 2026 net loss of $3.0M ($0.04/share) vs. $16.2M income ($0.28/share) in Q2 2025, driven by $42.8M in merger-related expenses; core earnings were $30.5M ($0.43/share), up from $17.7M ($0.31/share) year-over-year.

  Exhibit 99.1 view on EDGAR →