---
schema_version: "secwatch.filing_event.v1"
accession: "0001004702-23-000142"
form_type: "8-K"
ticker: "OCFC"
cik: "0001004702"
company_name: "OCEANFIRST FINANCIAL CORP"
filed_at: "2023-09-14T23:59:59+00:00"
generated_at: "2026-06-10T17:12:13.278255+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# OceanFirst expects $7.7M-$8.5M Q3 charge-off on $17M NYC office loan participation

## Summary
- Expects Q3 charge-off of 45%-50% of $17M exposure on a $98M credit secured by Midtown Manhattan office building.
- Loan originated June 2019, matured in Q3, placed on non-accrual, will be in non-performing assets as of Sep 30, 2023.
- The $17M participation is 13% of OceanFirst's $130M central business district office loan portfolio as of Aug 31, 2023.
- No other material losses currently identified; company continues evaluating the office portfolio.

## SEC filing metadata
- accession: 0001004702-23-000142
- form_type: 8-K
- ticker: OCFC
- cik: 0001004702
- company_name: OCEANFIRST FINANCIAL CORP
- filed_at: 2023-09-14T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1004702/000100470223000142/0001004702-23-000142-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1004702/000100470223000142/ocfc-20230914.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001004702-23-000142
- JSON: https://secwatch.observer/filing/0001004702-23-000142.json
- Plain text: https://secwatch.observer/filing/0001004702-23-000142.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.