Net interest income grew 11.3% year-over-year to $96.4 million in 2026Q1, yet the net interest margin remains constrained at 0.7% due to competitive deposit pricing.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Net Interest Income | 370.02M | 360.22M | 334.04M | 369.73M | 377.48M | 305.34M | 312.95M | 255.97M | 240.5M | 169.22M | 120.26M | 76.83M | 72.35M | 70.53M | 73.51M | 77.33M | 77.11M | 65.46M | 58.02M | 52.92M | 58.12M | 60.93M | 56.02M | 57.64M | 60.83M | 55.01M | 49.69M | 48.5M | 44.2M | 43M | 36.4M |
| NII Growth % | 42.44% | 7.84% | -9.65% | -2.05% | 23.63% | -2.43% | 22.26% | 6.43% | 42.13% | 40.71% | 56.53% | 6.19% | 2.58% | -4.06% | -4.93% | 0.28% | 17.8% | 12.82% | 9.63% | -8.94% | -4.61% | 8.76% | -2.81% | -5.24% | 10.58% | 10.7% | 2.46% | 9.73% | 2.79% | 18.13% | 20.51% |
| Net Interest Margin % | 2.54% | 2.47% | 2.49% | 2.73% | 2.88% | 2.6% | 2.73% | 3.1% | 3.2% | 3.12% | 2.33% | 2.96% | 3.07% | 3.14% | 3.24% | 3.36% | 3.43% | 3.22% | 3.12% | 2.75% | 2.8% | 3.07% | 2.93% | 3.36% | 3.49% | 3.12% | 3.03% | 3.05% | 2.83% | 2.85% | 2.79% |
| Interest Income | 657.04M | 642.45M | 642.17M | 607.97M | 431.18M | 342.09M | 379.61M | 308.79M | 276.65M | 188.83M | 133.43M | 85.86M | 79.85M | 80.16M | 87.61M | 95.39M | 101.37M | 95.86M | 103.41M | 114.96M | 116.56M | 102.8M | 90.95M | 94.54M | 108.46M | 118.16M | 116.11M | 107.3M | 105.6M | 98.6M | 80.3M |
| Interest Expense | 287.02M | 282.23M | 308.14M | 238.24M | 53.7M | 36.75M | 66.66M | 52.82M | 36.15M | 19.61M | 13.16M | 9.03M | 7.5M | 9.63M | 14.1M | 18.06M | 24.25M | 30.4M | 45.38M | 62.04M | 58.44M | 41.87M | 34.93M | 36.89M | 47.62M | 63.15M | 66.41M | 58.8M | 61.4M | 55.6M | 43.9M |
| Loan Loss Provision | 13.57M | 16.17M | 7.69M | 17.68M | 7.77M | -11.83M | 59.4M | 1.64M | 3.49M | 4.45M | 2.62M | 1.27M | 2.63M | 2.8M | 7.9M | 7.75M | 8M | 5.7M | 1.77M | 700K | 150K | 350K | 300K | 688K | 1.65M | 1.25M | 985K | 900K | 900K | 1M | 700K |
| Non-Interest Income | 6.05M | 13.14M | 45.77M | 28.98M | 54.12M | 46.75M | 54.21M | 36.21M | 30.62M | 23.51M | 18.07M | 14.61M | 16.23M | 10.43M | 16.27M | 14.1M | 14.06M | 15.59M | 12.82M | 2.53M | 13.61M | 24.09M | 20.74M | 18.75M | 10.86M | 12.93M | 6.14M | 5.3M | 2.4M | 2.6M | 2.9M |
| Non-Interest Income % | 0.91% | 2% | 6.65% | 4.55% | 11.15% | 12.02% | 12.5% | 10.5% | 9.96% | 11.07% | 11.93% | 14.54% | 16.9% | 11.51% | 15.66% | 12.88% | 12.18% | 13.99% | 11.03% | 2.15% | 10.45% | 18.99% | 18.57% | 16.55% | 9.1% | 9.86% | 5.03% | 4.71% | 2.22% | 2.57% | 3.49% |
| Total Revenue | 663.09M | 655.6M | 687.95M | 636.96M | 485.3M | 388.84M | 433.82M | 345M | 307.27M | 212.34M | 151.49M | 100.47M | 96.09M | 90.58M | 103.88M | 109.49M | 115.43M | 111.45M | 116.23M | 117.5M | 130.17M | 126.89M | 111.69M | 113.29M | 119.31M | 131.09M | 122.25M | 112.6M | 108M | 101.2M | 83.2M |
| Revenue Growth % | -9.18% | -4.7% | 8.01% | 31.25% | 24.81% | -10.37% | 25.74% | 12.28% | 44.71% | 40.17% | 50.78% | 4.56% | 6.08% | -12.8% | -5.12% | -5.14% | 3.57% | -4.11% | -1.08% | -9.74% | 2.59% | 13.61% | -1.41% | -5.05% | -8.98% | 7.23% | 8.57% | 4.26% | 6.72% | 21.63% | 96.64% |
| Non-Interest Expense | 271.2M | 264.68M | 241.47M | 244.27M | 229.91M | 221.68M | 226.72M | 183.19M | 182.13M | 122.96M | 100.51M | 58.96M | 55.42M | 53.21M | 50.93M | 51.47M | 52.4M | 50.54M | 47.45M | 53.82M | 52.38M | 54.83M | 48.76M | 44.86M | 40.14M | 37.38M | 31.64M | 27.9M | 25.5M | 23.1M | 39.2M |
| Efficiency Ratio | 40.9% | 40.37% | 35.1% | 38.35% | 47.38% | 57.01% | 52.26% | 53.1% | 59.27% | 57.91% | 66.34% | 58.68% | 57.68% | 58.74% | 49.03% | 47.01% | 45.39% | 45.35% | 40.82% | 45.81% | 40.24% | 43.21% | 43.65% | 39.6% | 33.65% | 28.52% | 25.89% | 24.78% | 23.61% | 22.83% | 47.12% |
| Operating Income | 91.3M | 92.52M | 130.66M | 136.76M | 193.92M | 142.24M | 81.04M | 107.36M | 85.5M | 65.33M | 35.2M | 31.2M | 30.53M | 24.94M | 30.95M | 32.21M | 30.78M | 24.81M | 21.62M | 935K | 19.2M | 29.83M | 27.7M | 30.85M | 29.89M | 29.31M | 23.21M | 25M | 20.2M | 21.5M | -600K |
| Operating Margin % | 13.77% | 14.11% | 18.99% | 21.47% | 39.96% | 36.58% | 18.68% | 31.12% | 27.83% | 30.76% | 23.24% | 31.06% | 31.77% | 27.54% | 29.79% | 29.42% | 26.66% | 22.26% | 18.6% | 0.8% | 14.75% | 23.51% | 24.8% | 27.23% | 25.06% | 22.36% | 18.98% | 22.2% | 18.7% | 21.25% | -0.72% |
| Operating Income Growth % | - | -29.19% | -4.47% | -29.47% | 36.33% | 75.52% | -24.51% | 25.56% | 30.89% | 85.59% | 12.8% | 2.21% | 22.4% | -19.4% | -3.93% | 4.66% | 24.07% | 14.72% | 2212.73% | -95.13% | -35.65% | 7.69% | -10.2% | 3.18% | 2% | 26.28% | -7.17% | 23.76% | -6.05% | 3683.33% | -104.76% |
| Pretax Income | 91.3M | 92.52M | 130.66M | 136.76M | 193.92M | 142.24M | 81.04M | 107.36M | 85.5M | 65.33M | 35.2M | 31.2M | 30.53M | 24.94M | 30.95M | 32.21M | 30.78M | 24.81M | 21.62M | 935K | 19.2M | 29.83M | 27.7M | 30.85M | 29.89M | 29.31M | 23.21M | 25M | 20.2M | 21.5M | -600K |
| Pretax Margin % | 13.77% | 14.11% | 18.99% | 21.47% | 39.96% | 36.58% | 18.68% | 31.12% | 27.83% | 30.76% | 23.24% | 31.06% | 31.77% | 27.54% | 29.79% | 29.42% | 26.66% | 22.26% | 18.6% | 0.8% | 14.75% | 23.51% | 24.8% | 27.23% | 25.06% | 22.36% | 18.98% | 22.2% | 18.7% | 21.25% | -0.72% |
| Income Tax | 21.23M | 21.49M | 30.27M | 32.7M | 46.56M | 32.16M | 17.73M | 18.78M | 13.57M | 22.86M | 12.15M | 10.88M | 10.61M | 8.61M | 10.93M | 11.47M | 10.4M | 9.15M | 6.86M | -140K | 6.56M | 10.34M | 9.76M | 10.97M | 9.75M | 10.06M | 6.83M | 8.7M | 7.2M | 7.7M | 1.1M |
| Effective Tax Rate % | 23.25% | 23.23% | 23.16% | 23.91% | 24.01% | 22.61% | 21.88% | 17.5% | 15.87% | 34.99% | 34.53% | 34.88% | 34.75% | 34.53% | 35.31% | 35.61% | 33.79% | 36.9% | 31.72% | -14.97% | 34.19% | 34.64% | 35.22% | 35.58% | 32.62% | 34.34% | 29.41% | 34.8% | 35.64% | 35.81% | -183.33% |
| Net Income | 69.97M | 70.98M | 100.06M | 104.03M | 146.6M | 110.08M | 63.31M | 88.57M | 71.93M | 42.47M | 23.05M | 20.32M | 19.92M | 16.33M | 20.02M | 20.74M | 20.38M | 15.65M | 14.76M | 1.07M | 12.63M | 19.5M | 17.95M | 19.87M | 20.14M | 18.16M | 16.38M | 16.3M | 13M | 13.8M | -1.7M |
| Net Margin % | 10.55% | 10.83% | 14.55% | 16.33% | 30.21% | 28.31% | 14.59% | 25.67% | 23.41% | 20% | 15.21% | 20.23% | 20.73% | 18.03% | 19.27% | 18.94% | 17.65% | 14.04% | 12.7% | 0.91% | 9.71% | 15.37% | 16.07% | 17.54% | 16.88% | 13.85% | 13.4% | 14.48% | 12.04% | 13.64% | -2.04% |
| Net Income Growth % | -24.68% | -29.07% | -3.81% | -29.04% | 33.18% | 73.87% | -28.52% | 23.14% | 69.37% | 84.28% | 13.4% | 2.02% | 21.98% | -18.43% | -3.48% | 1.78% | 30.19% | 6.02% | 1273.4% | -91.49% | -35.21% | 8.65% | -9.7% | -1.34% | 10.93% | 10.85% | 0.5% | 25.38% | -5.8% | 911.76% | -121.39% |
| Net Income (Continuing) | 70.07M | 71.03M | 100.39M | 104.06M | 147.36M | 110.08M | 63.31M | 88.57M | 71.93M | 42.47M | 23.05M | 20.32M | 19.92M | 16.33M | 20.02M | 20.74M | 20.38M | 15.65M | 14.76M | 1.07M | 12.63M | 19.5M | 17.95M | 19.87M | 20.14M | 19.24M | 16.38M | 16.3M | 13M | 13.8M | -1.7M |
| EPS (Diluted) | 1.23 | 1.17 | 1.65 | 1.70 | 2.42 | 1.78 | 1.02 | 1.75 | 1.51 | 1.28 | 0.98 | 1.21 | 1.19 | 0.95 | 1.12 | 1.14 | 1.12 | 0.98 | 1.26 | 0.09 | 1.07 | 1.60 | 1.42 | 1.53 | 1.47 | 1.23 | 1.03 | 0.89 | 0.63 | 0.54 | -0.26 |
| EPS Growth % | -23.53% | -29.09% | -2.94% | -29.75% | 35.96% | 74.51% | -41.71% | 15.89% | 17.97% | 30.61% | -19.01% | 1.68% | 25.26% | -15.18% | -1.75% | 1.79% | 14.29% | -22.22% | 1300% | -91.59% | -33.13% | 12.68% | -7.19% | 4.08% | 19.51% | 19.42% | 15.73% | 41.27% | 16.67% | 307.69% | -189.66% |
| EPS (Basic) | - | 1.17 | 1.65 | 1.70 | 2.43 | 1.79 | 1.02 | 1.77 | 1.54 | 1.32 | 1.00 | 1.22 | 1.19 | 0.96 | 1.13 | 1.14 | 1.12 | 0.98 | 1.27 | 0.09 | 1.09 | 1.65 | 1.48 | 1.62 | 1.57 | 1.31 | 1.06 | 0.91 | 0.65 | 0.54 | -0.26 |
| Diluted Shares Outstanding | 57.05M | 57.42M | 58.3M | 58.96M | 58.88M | 59.65M | 60.07M | 50.75M | 47.66M | 33.13M | 23.53M | 16.81M | 16.8M | 17.16M | 17.83M | 18.24M | 18.19M | 12.78M | 11.76M | 11.65M | 11.77M | 12.22M | 12.67M | 13.02M | 13.7M | 14.76M | 16M | 18.45M | 20.52M | 25.36M | 27.16M |
CRE concentration and funding
According to recent financial disclosures, OceanFirst Financial Corp. reported a net interest income of $96.4 million in 2026Q1, reflecting an 11.3% year-over-year growth rate, which suggests a potential stabilization in interest-earning asset yields despite the broader competitive pressures within the regional New Jersey banking market.
The recent uptick in NII appears to indicate that the bank is successfully repricing its loan portfolio, though this must be weighed against the persistent cost of funding. Investors should monitor whether this growth is sustainable or merely a temporary benefit from specific asset-liability management adjustments.
As reported in quarterly filings, the net interest margin has remained stagnant at 0.7% throughout early 2026, highlighting a structural inability to expand spreads as the cost of retail deposits continues to rise in response to the competitive landscape of the Mid-Atlantic corridor.
The lack of margin expansion suggests that the bank's funding base is highly sensitive to rate changes, limiting the benefit of higher asset yields. This margin profile warrants further investigation into the bank's deposit beta and its ability to retain low-cost legacy funding.
Based on the provided income statement data, the efficiency ratio has trended upward to 39.0% in 2026Q1, indicating that non-interest expenses are consuming a larger portion of revenue compared to the 33.3% level observed in 2024Q1, which may signal rising operational costs or integration challenges.
The deterioration in the efficiency ratio suggests that the bank's operating leverage is currently under pressure. This trend may imply that recent administrative expansions or technology investments are not yet yielding the expected productivity gains, necessitating a closer look at the bank's cost management strategy.
Financial statements indicate that the provision for loan losses reached $2.7 million in 2026Q1, a significant shift from the minimal $517,000 recorded in 2024Q3, reflecting a more cautious approach to credit risk management amidst the bank's heavy exposure to commercial real estate sectors.
The increase in provision expense appears to be a proactive response to potential credit deterioration within the CRE portfolio. Analysts should monitor whether these provisions are sufficient to cover potential losses or if they signal an underlying weakness in the quality of the loan book.
As evidenced by the negative $1.8 million in non-interest income for 2026Q1, the bank's fee-based revenue stream remains highly volatile, with significant fluctuations that appear to undermine the stability typically expected from wealth management and trust service segments within a regional banking model.
The negative fee income suggests that the bank's non-interest revenue is currently a drag on total earnings rather than a reliable offset to interest income. This volatility warrants further investigation into the specific drivers of these losses and the sustainability of the bank's fee-generating business lines.
Quick answers to the most common questions about buying OCFC stock.
OceanFirst Financial Corp. (OCFC) is profitable, generating $71.0M in net income for the fiscal year ending 2025 with a net profit margin of 10.8%.
OceanFirst Financial Corp. (OCFC) reported an operating income of $92.5M, resulting in an operating profit margin of 14.1%. This margin reflects the operational efficiency of the business before interest and taxes.
OceanFirst Financial Corp. (OCFC) generated $357.2M in gross profit for the year, representing a gross profit margin of 54.5%. This demonstrates the company's core pricing power and production efficiency.