Todd Schell
Todd Schell, designated by Warburg, was appointed to serve as a director of OceanFirst
Highest-materiality recent filing
OceanFirst completes $1.3B sale of NYC multifamily loans post-Flushing merger
Sold $1.3B multifamily loan portfolio, largely NYC metro, majority rent-regulated.
OceanFirst to sell $1.4B multifamily loans from Flushing acquisition
Agreed to sell $1.4B multifamily loans, majority of those acquired in June 1 Flushing acquisition.
OceanFirst closes acquisition of Flushing Financial; issues shares to Warburg Pincus
Completed merger with Flushing Financial; each Flushing share converted into 0.85 shares of OceanFirst common stock.
OceanFirst and Flushing receive all regulatory approvals for merger; close expected by June 1, 2026
Federal Reserve approved merger on April 24, 2026; NYS DFS and OCC approved earlier in March and April.
OceanFirst shareholders approve merger share issuance; exemption amendment fails
Share issuance proposal passed with 42.0M for, 2.5M against; exemption amendment failed 18.4M for, 26.1M against.
OceanFirst Q4 net income falls to $13.1M from $20.9M; EPS $0.23 vs $0.36 YoY
Net income available to common stockholders $13.1M ($0.23 diluted EPS) vs $20.9M ($0.36) a year ago and $17.3M ($0.30) linked quarter.
OceanFirst to acquire Flushing Financial in 0.85 exchange ratio deal; Warburg invests $225M
Each Flushing share converted into 0.85 shares of OceanFirst common stock.
OceanFirst to acquire Flushing Financial in $579M all-stock deal; Warburg invests $225M
Merger consideration of 0.85x OCFC share per FFIC share; total value ~$579M based on OCFC's $19.76 closing price.
OceanFirst prices $185M of 6.375% subordinated notes due 2035; net proceeds ~$181.9M
Issued $185M aggregate principal of 6.375% Fixed-to-Floating Rate Subordinated Notes due 2035.
OceanFirst Q3 2025 EPS $0.30, down 29% YoY; declares $0.20 dividend
Net income $17.3M ($0.30 diluted EPS) vs $24.1M ($0.42) in Q3 2024, a 28% decline YoY.
OceanFirst Q2 earnings fall 31% YoY; net income $16.2M, EPS $0.28
Net income available to common stockholders $16.2M ($0.28 diluted) vs $23.4M ($0.40) in Q2 2024.
OceanFirst authorizes buyback of up to 3M shares (~5% of outstanding)
Board authorized repurchase of up to 3 million shares, or approximately 5% of outstanding common stock.
OceanFirst Q1 net income down 26% YoY to $20.5M; dividend declared at $0.20
Net income available to common stockholders: $20.5M ($0.35 EPS) vs $27.7M ($0.47) YoY and $20.9M ($0.36) linked quarter.
OceanFirst Q3 net income $24.1M ($0.42 EPS), up 22% YoY; dividend steady
Net income available to common stockholders of $24.1M ($0.42 diluted EPS) in Q3 2024, up from $19.7M ($0.33) a year ago.
OceanFirst Q2 net income drops 12.7% to $0.40 EPS; NIM tightens to 2.71%
Net income common $23.4M ($0.40 EPS), down from $26.8M ($0.45) Q2 2023 and $27.7M ($0.47) prior quarter.
OceanFirst Q1 net income $27.7M, EPS $0.47; NIM narrows to 2.81% from 3.34%
Net income available to common stockholders $27.7M ($0.47 diluted EPS), compared to $26.9M ($0.46) in Q1 2023 and $26.7M ($0.46) in Q4 2023.
OceanFirst Q4 net income $26.7M ($0.46/shr) vs $52.3M ($0.89) YoY; full-year EPS $1.70
Q4 diluted EPS $0.46 vs $0.89 in Q4 2022; full-year EPS $1.70 vs $2.42.
OceanFirst Q3 net income falls 48% YoY to $19.7M; EPS $0.33 vs $0.64
Net income available to common stockholders $19.7M ($0.33 diluted EPS), down from $37.6M ($0.64) in Q3 2022.
OceanFirst expects $7.7M-$8.5M Q3 charge-off on $17M NYC office loan participation
Expects Q3 charge-off of 45%-50% of $17M exposure on a $98M credit secured by Midtown Manhattan office building.
OceanFirst Q1 net income $26.9M ($0.46 EPS); NIM 3.34%
Net income available to common stockholders $26.9M, diluted EPS $0.46 vs $0.42 in Q1 2022 and $0.89 in Q4 2022.
OceanFirst reports adjusted uninsured deposits of $2.1B vs $6.3B; 403 customers >$1M uninsured
CEO Christopher Maher disclosed on CNBC that 403 of 250,000 customers had uninsured deposits >$1M as of March 10.
Todd Schell, designated by Warburg, was appointed to serve as a director of OceanFirst
John R. Buran was appointed as the Non-Executive Chairman of the OceanFirst Board.
Christopher D. Maher, the Chairman, President and Chief Executive Officer of OceanFirst, ceased serving as Chairman of the OceanFirst Board.
each John F. Barros, Kimberly M. Guadagno and Joseph M. Murphy, Jr., ceased to serve as a member of the OceanFirst Board
each John F. Barros, Kimberly M. Guadagno and Joseph M. Murphy, Jr., ceased to serve as a member of the OceanFirst Board
each John F. Barros, Kimberly M. Guadagno and Joseph M. Murphy, Jr., ceased to serve as a member of the OceanFirst Board
Robert C. Garrett, CEO, Hackensack Meridian Health – Morris Township, NJ, effective October 1, 2023
Dalila Wilson-Scott, EVP and Chief Diversity Officer, Comcast Corporation and President, Comcast NBCUniversal Foundation – Philadelphia, PA, effective October 1, 2023
Additionally, John E. Walsh will retire from the Board of Directors at the end of his term in May 2024.
John F. Barros, Managing Principal, Civitas Builder – Boston, MA, effective September 18, 2023
Patrick Chong, age 34, Senior Vice President and Corporate Controller of the Company began service as the Company’s Principal Accounting Officer.
Angela K. Ho, OceanFirst Financial Corp’s (the “Company”) Principal Accounting Officer, has assumed the position of Chief Compliance Officer of the Company and OceanFirst Bank, N.A.
Max materiality 0.90 · Median 0.50 · Most common event other_material