OceanFirst Financial Corp. Announces Pricing of Subordinated Notes Offering

RED BANK, N.J., Oct. 27, 2025 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (Nasdaq: “OCFC”) (the “Company”), the holding company for OceanFirst Bank N.A. (the “Bank”), today announced the pricing of a public offering of $185.0 million aggregate principal amount of 6.375% Fixed-to-Floating Rate Subordinated Notes due 2035 (the “Notes”). Interest on the Notes will accrue at a rate equal to (i) 6.375% per annum from the original issue date to, but excluding, November 15, 2030, payable semiannually in arrears, and (ii) a floating rate per annum equal to a benchmark rate, which is expected to be Three-Month Term SOFR (as defined in the Notes), plus a spread of 307.5 basis points from, and including, February 15, 2031, payable quarterly in arrears. The Notes are intended to qualify as Tier 2 capital for regulatory purposes.