OceanFirst Bank

What OceanFirst Bank does

OceanFirst Bank, N.A., operating through its publicly traded holding company OceanFirst Financial Corp. (NASDAQ: OCFC), is a Mid-Atlantic regional bank founded in 1902 and headquartered in Toms River, New Jersey. Following the June 1, 2026 completion of its merger with Flushing Financial Corporation, the combined entity operates 71 retail branches across New Jersey, New York, Long Island, and Pennsylvania with approximately $23 billion in assets, $17 billion in loans, and $18 billion in deposits, serving 230,000+ consumer, small business, commercial, nonprofit, and wealth management customers. The bank's core offerings span deposit products (FreeStyle and FreshStart checking, statement savings, money market, CDs), consumer and residential mortgage lending, small business and commercial lending, treasury management via the OFBCONNECT platform, and trust and asset management delivered in partnership with Addison Capital.

Revenue is generated primarily through net interest income (Q1 2026 net interest income of $96.4 million, up 11% year-over-year) with supplementary fee income from deposit accounts, loan servicing, treasury management, trust, and mortgage origination gain-on-sale, the latter executed through a strategic partnership with Embrace Home Loans that extends origination capability across all 50 states. Distribution blends a traditional branch-led relationship model with a digital banking platform that integrates Card Control, Zelle, mobile check deposit, six digital wallet options, Amazon One palm payment, and video teller ATMs.

The technology stack includes a digital banking platform on cloud-based infrastructure, Five9's AI-powered cloud contact center (deployed December 2020), Microsoft Copilot AI tooling used for anti-money laundering investigations and bond portfolio analysis with approximately 150 employees onboarded, and Databricks for analytics and business intelligence. Capital and funding actions supporting the franchise include a $185 million Tier 2 subordinated notes offering closed October 29, 2025 and a $225 million strategic equity investment from Warburg Pincus affiliates that closed concurrently with the merger announcement, granting Warburg Pincus approximately 12% ownership and one board seat.

Name

OceanFirst Bank

Legal name

OceanFirst Bank, N.A.

Website

https://oceanfirst.com

Company type

Public

Founded year

1905

Operating status

Operating

Headcount range

501–1,000 employees

Short description

OceanFirst Bank (NASDAQ: OCFC) is a Mid-Atlantic regional bank operating 71 branches across New Jersey, New York, Long Island, and Pennsylvania with roughly $23 billion in assets, serving 230,000+ consumer, small business, commercial, and wealth management customers following its June 2026 merger with Flushing Financial Corporation.

Ownership category

akta.pro rank

Headquarters

HQ city

Toms River

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Net Interest Income: Primary revenue driver from interest earned on loans (commercial, residential mortgage, consumer) and securities, minus interest paid on deposits. The bank generates spread income from its lending portfolio and investment securities. Q1 2026 net interest income was $96.4 million, up 11% year over year.
2. Non-Interest Income: Fee income from deposit accounts, loan servicing, treasury management services, trust and asset management fees, and other banking services. Includes income from digital banking services and card transactions.
3. Mortgage Banking: Revenue from mortgage originations through partnership with Embrace Home Loans, including loan origination fees and gain on sale of mortgage loans

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

OceanFirst Bank is a federally chartered regional community bank providing personal and business banking products and services across New Jersey, New York, Long Island, and Pennsylvania. Its core offerings include checking and savings accounts, certificates of deposit, consumer and commercial lending, residential mortgages (via partner Embrace Home Loans), treasury management, merchant and card services, and trust and asset management services delivered through 71 retail branches and digital/mobile banking channels.

Product overview

OceanFirst Bank is a regional bank offering a comprehensive suite of personal and business banking products. The core product portfolio includes deposit accounts (FreeStyle Checking, FreshStart Checking, Statement Savings, SaveFirst, KidSaveSmart, CDs), commercial banking services (Commercial Checking, Commercial Money Market, Community Business Checking), and treasury management solutions. Digital Banking serves as the primary delivery channel, integrating Card Control, Zelle P2P payments, and digital wallet support (Apple Pay, Google Pay, Samsung Pay, Garmin Pay, Fitbit Pay, Amazon One). The bank also offers Trust and Asset Management services through strategic partner Addison Capital, and mortgage lending via Embrace Home Loans. The recent acquisition of Garden State Home Loans expanded mortgage origination capabilities, while the merger with Flushing Financial Corporation created a $23 billion institution with 71 branches across the Northeast.

Differentiator

Problem solved

Functional benefit

Brands

• CommUNITYFirst Program: A community donation program where OceanFirst links customer accounts to participating nonprofits and makes quarterly donations on their behalf
• WaveMaker
• FirstWave Money Market
• FreeStyle Checking
• FreshStart Checking
• OFBCONNECT
• OFBESCROW
• Commercial One Card

Products and services

• FreeStyle Checking

Quantifiable outcome

• Net interest income grew 11% year-over-year to $96.4 million in Q1 2026
• +4 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability6 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core.

• Five9coreTechnology or Integration · 1 December 2020OceanFirst Bank implemented Five9's AI-powered cloud contact center solution in December 2020. The deployment includes CRM integration, AI transcription and automation capabilities supporting 45 call center agents, improving efficiency and customer service quality.
• Embrace Home LoanscoreChannel Partner/ Reseller/ DistributorOceanFirst Bank partnered with Embrace Home Loans to offer a broader range of mortgage solutions to customers. This partnership enables mortgage originations across all 50 states, supported by industry expertise and personalized service. OceanFirst outsourced its residential loan originations and title operations to Embrace.
• MicrosoftcoreTechnology or IntegrationOceanFirst Bank uses Microsoft Copilot and other AI tools for operational improvements including anti-money laundering investigations and bond portfolio analysis. Approximately 150 employees have been onboarded to AI systems.
• Addison CapitalcoreStrategic or Co-development PartnerAddison Capital serves as OceanFirst Bank's strategic partner and outsourced Chief Investment Officer for the Trust and Asset Management department. The partnership manages custom portfolios for individuals, business owners, nonprofits, and endowment funds, and produces the Market Outlook newsletter for investment customers.

Scale indicators19 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Valley National Bancorp: New Jersey-headquartered regional commercial bank of similar scale with retail and commercial banking across the Northeast. Closely comparable business mix, geographic overlap, and post-merger growth profile make it the most relevant direct peer for OceanFirst.
• Provident Financial Services: NJ-based super-community bank with similar deposit-funded lending model and footprint across NJ and NY metro. Comparable in size, customer segments (consumers, small business, commercial), and product mix including trust services.
• Lakeland Bancorp: Northern NJ-headquartered commercial bank with similar community-banking model and balance sheet profile. Competes head-to-head in the same NJ consumer, small business, and commercial deposit/lending markets.
• ConnectOne Bancorp: NJ-based regional commercial bank with comparable commercial lending focus and similar size profile. Direct overlap in northern NJ and the NY metro for commercial deposits, treasury management, and lending products.
• S&T Bancorp: Mid-Atlantic regional bank of similar asset size (~similar tier to OceanFirst post-merger) with consumer, small business, and commercial banking. Provides a useful comparable for valuation multiples and operating metrics of regional banks in the $20B asset range.
• Customers Bancorp: Pennsylvania-headquartered commercial bank serving the Mid-Atlantic and Northeast with comparable commercial and consumer banking products. Similar regional focus and asset scale post-OceanFirst's Flushing merger.
• Northfield Bancorp: Staten Island-based savings bank serving the NY/NJ metro with a similar deposit-rich, conservative lending profile. Competes with OceanFirst-Flushing in the New York City multifamily and CRE lending markets.
• First Bank (NJ): NJ-based community commercial bank serving similar small business and consumer segments in OceanFirst's home market. Useful comparable for community-bank profitability, funding costs, and growth metrics.

Regional players

• Kearny Financial: NJ-based savings institution serving similar geographies but with a thrift-style deposit-funded mortgage-focused model. Comparable for deposit-gathering dynamics and Mid-Atlantic deposit pricing benchmarks.

Broad incumbents

• New York Community Bancorp (Flagstar): Much larger regional bank headquartered in NY with significant overlap in NYC multifamily lending — the very asset class OceanFirst inherited and is divesting from Flushing. Relevant for understanding multifamily credit risk benchmarks and competitive dynamics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/OceanFirstBank
• LinkedInlinkedin.com/company/oceanfirst-bank
• Instagraminstagram.com/oceanfirstbank/?hl=en
• Xx.com/oceanfirstbank

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries3 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A7 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OceanFirst Bank