Summary

• OceanFirst Financial is finalizing its merger with Flushing Financial, creating a $23 billion asset regional bank with enhanced commercial focus.
• OCFC reported Q1 2026 adjusted EPS of $0.43, beating consensus by $0.04, with strong commercial loan growth and stable deposits.
• Net interest margin expanded to 2.93% in Q1, with post-merger expectations of 3.2% in 2027 on this metric, and asset quality remains among the top in the sector.
• OCFC trades slightly below tangible book value ($19.08 vs. $19.86) and offers a 4%+ dividend yield, presenting an attractive risk/reward ahead of the merger.
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Today we continue our deep dive into the Q1 2026 earnings for the regional banking sector. In today’s column, we shift our focus to OceanFirst Financial (OCFC), a regional player in the New

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in OCFC over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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