OceanFirst Financial reports Q1 core EPS 35c, consensus 35c

Reports Q1 tangible book value per share $19.16. Reports Q1 CET1 capital ratio 11.2%. Chairman and CEO, Christopher Maher, commented on the company’s results, “We are pleased to present our current quarter results, which reflect a meaningful expansion of net interest income and net interest margin, continued strong asset quality metrics, and further capital accretion, including share repurchases.” Mr. Maher added, “Additionally, we understand the increased market uncertainty and volatility, but we have confidence that the Company is well-positioned. Finally, we are pleased that the first quarter talent recruiting season has resulted in a robust addition of commercial banking talent. Reflecting the strength of the commercial banking platform we have built, 36 highly experienced commercial bankers have joined OceanFirst this year.”