OceanFirst Financial announces pricing of subordinated notes offering

* OceanFirst Financial (NASDAQ:OCFC [https://seekingalpha.com/symbol/OCFC]), the holding company for OceanFirst Bank, on Monday announced the pricing of a public offering of $185 million aggregate principal amount of 6.375% Fixed-to-Floating Rate Subordinated Notes due 2035.
* Interest on the notes will accrue at a rate equal to 6.375% per annum from the original issue date to, but excluding, November 15, 2030, payable semi-annually in arrears, and a floating rate per annum equal to a benchmark rate, which is expected to be Three-Month Term SOFR, plus a spread of 307.5 basis points from, and including, February 15, 2031, payable quarterly in arrears.
* This offering is expected to close on October 29, 2025.
* The company estimates that the net proceeds of the offering will be about $181.9 million.
* The company intends to use the net proceeds to repay existing indebtedness, including the redemption in full of the company’s 5.25% Fixed-to-Floating Rate Subordinated Notes due May 15, 2030, to support growth initiatives at the company’s subsidiaries and for general corporate purposes.
* Source: Press Release [https://seekingalpha.com/pr/20281062-oceanfirst-financial-corp-announces-pricing-of-subordinated-notes-offering]

MORE ON OCEANFIRST FINANCIAL

* OceanFirst Financial Corp. (OCFC) Q3 2025 Earnings Call Transcript [https://seekingalpha.com/article/4832652-oceanfirst-financial-corp-ocfc-q3-2025-earnings-call-transcript]
* OceanFirst Financial Corp. 2025 Q3 - Results - Earnings Call Presentation [https://seekingalpha.com/article/4832425-oceanfirst-financial-corp-2025-q3-results-earnings-call-presentation]
* OceanFirst outlines 7%–9% loan growth target for 2026 amid strong commercial momentum and restructuring [https://seekingalpha.com/news/4507734-oceanfirst-outlines-7-percent-9-percent-loan-growth-target-for-2026-amid-strong-commercial]
* Seeking Alpha’s Quant Rating on OceanFirst Financial [https://seekingalpha.com/symbol/OCFC/ratings/quant-ratings]
* Historical earnings data for OceanFirst Financial [https://seekingalpha.com/symbol/OCFC/earnings]