Cash Distribution - The company announced a cash distribution for the quarter ended December 31, 2025[4] - The press release detailing the cash distribution was issued on January 22, 2026[5] Financial Results - The financial results and operations details are incorporated in Exhibit 99.1 of the Form 8-K[8]

Financial Performance - Reported earnings per share of $0.18 for Q4 2025, with adjusted earnings per share of $0.43, exceeding expectations[5] - Generated $1.2 billion in operating cash flow for the full year 2025[2] - Fourth quarter revenue reached $3.6 billion, with a 0.6% year-over-year increase in RASM[8] - Achieved a consolidated adjusted pretax margin of 2.8% for the full year 2025[16] - Guidance for FY 2026 expects adjusted earnings per share between $3.50 and $6.50, with capital expenditures projected at approximately $1.4 to $1.5 billion[12] - Total operating revenue for Q4 2025 was $3,632 million, a 3% increase from $3,534 million in Q4 2024, while total operating revenue for the full year 2025 reached $14,239 million, up 21% from $11,735 million in 2024[25] - Passenger revenue increased by 2% to $3,248 million in Q4 2025 compared to $3,178 million in Q4 2024, and for the full year, it rose by 20% to $12,835 million from $10,654 million[25] - Net income for Q4 2025 was $21 million, down from $71 million in Q4 2024, while full-year net income decreased to $100 million from $395 million[25] - Basic earnings per share for Q4 2025 was $0.18, compared to $0.56 in Q4 2024, and for the full year, it was $0.85, down from $3.13[25] Revenue and Expenses - Operating expenses for Q4 2025 were $3,557 million, a 3% increase from $3,461 million in Q4 2024, with full-year operating expenses rising 25% to $13,936 million from $11,165 million[25] - Total operating expenses increased to $3,557 million in Q4 2025 from $3,461 million in Q4 2024, and for the year rose to $13,936 million from $11,165 million[43] - Fuel expenses for the twelve months ended December 31, 2025, were $2,879 million, compared to $2,506 million in 2024, representing a 14.9% increase[51] - Total operating expenses for the full year 2025 were $13,936 million, a 3% increase from $13,469 million in 2024[55] Cash Flow and Assets - Cash and cash equivalents decreased to $627 million in Q4 2025 from $1,201 million in Q4 2024, with total current assets declining to $3,266 million from $3,760 million[26] - Total assets increased to $20,361 million in 2025 from $19,768 million in 2024, driven by growth in property and equipment[26][27] - The company reported a net cash provided by operating activities of $1,249 million for the full year 2025, with a cash outflow from investing activities of $1,623 million[29] Operational Metrics - Revenue passengers increased by 0.1% to 14,355,000 in Q4 2025, while total revenue passengers for the year rose by 19.1% to 58,627,000[38] - RPMs (Revenue Passenger Miles) decreased by 0.7% to 18,935 million in Q4 2025, but increased by 20.7% to 77,110 million for the full year[38] - Load factor declined by 2.3 percentage points to 81.5% in Q4 2025, and by 1.0 percentage point to 82.9% for the year[38] - Average full-time equivalent employees (FTEs) increased by 7.5% to 32,676 in Q4 2025, and by 22.7% to 31,585 for the year[38] Integration and Fleet Expansion - Alaska and Hawaiian Airlines achieved a single operating certificate, marking a significant integration milestone[16] - Announced the largest fleet order in Alaska's history, including 105 737-10 aircraft and 5 787 aircraft, expanding the fleet to 475 aircraft by 2030[16] - The operating fleet expanded by 21 aircraft to 413 as of December 31, 2025, compared to 392 a year earlier[38] Cost and Debt Metrics - Debt-to-capitalization ratio, including leases, increased to 61% as of December 31, 2025, up from 58% a year earlier[45] - Adjusted net debt to EBITDAR ratio was 3.0x for the twelve months ended December 31, 2025, compared to 2.4x for the same period in 2024[47] Other Revenue and Loyalty Program - Alaska Air Group's loyalty program generated $238 million in other revenue in Q4 2025, compared to $224 million in Q4 2024, a 6.3% increase[49] - The company reported a 19% increase in cargo and other revenue for the full year 2025, totaling $549 million compared to $460 million in 2024[55] Non-GAAP Financial Measures - The company emphasized the importance of non-GAAP financial measures for better visibility into operational results, particularly in a highly competitive industry with significant fixed costs[56]

Financial Performance - Net income for Q4 2025 was $7.1 million, a 5% increase from Q3 2025's $6.7 million and a significant rise from Q4 2024's $5.0 million[2]. - Diluted EPS increased to $0.47 in Q4 2025, up $0.02 from Q3 2025's $0.45 and up from $0.33 in Q4 2024[2]. - For the year 2025, net income was $25,655,000, a 22% increase from 2024[51]. - Total interest income for Q4 2025 increased to $39,282,000, a 2% increase from Q3 2025 and a 12% increase from Q4 2024[49]. - Noninterest income for Q4 2025 was $3,418,000, down 17% from Q3 2025 and 23% from Q4 2024[49]. - Total noninterest expense for Q4 2025 rose to $14,293,000, a 5% increase from Q3 2025 and a 9% increase from Q4 2024[49]. - The efficiency ratio improved to 58.87% in Q4 2025, compared to 55.68% in Q3 2025 and 61.52% in Q4 2024[2]. - Return on average assets (ROA) improved to 1.07% in Q4 2025, up from 1.04% in Q3 2025 and 0.84% in Q4 2024[2]. Loan and Deposit Growth - Average loans increased by 3% to $2.204 billion in Q4 2025, compared to $2.132 billion in Q3 2025 and $1.948 billion in Q4 2024[2]. - Average deposits grew by 2% to $2.265 billion in Q4 2025, up from $2.230 billion in Q3 2025 and $2.030 billion in Q4 2024[2]. - Total deposits reached $2,280,547 thousand, a 12% increase from $2,027,285 thousand in Q4 2024, driven by a $178.4 million increase in time deposits[35]. - Gross loans increased to $2,193,669 thousand, a 2% increase from Q3 2025 and a 12% increase from Q4 2024[25]. Credit Quality - Provision for credit losses decreased by 61% to $463 thousand in Q4 2025, down from $1.175 million in Q3 2025 and $1.547 million in Q4 2024[2]. - Nonperforming loans rose to $14,071 thousand, a 14% increase from 3Q2025 and an 80% increase from 4Q2024, representing 0.64% of gross loans[29]. - Allowance for credit losses on loans increased to $27,975 thousand in 4Q2025, up $676 thousand from 3Q2025 and $3,179 thousand from 4Q2024[28]. - Criticized loans rose to $32,060 thousand, a 14.2% increase from 3Q2025 and a 63.8% increase from 4Q2024[29]. Capital and Liquidity - Common equity tier 1 capital (CET1) remained robust at 10.93% in Q4 2025, compared to 10.92% in Q3 2025 and 11.35% in Q4 2024[2]. - Total capital ratio stood at 13.32%, exceeding the minimum capital requirement of 10.00%[41]. - The company maintained a liquidity ratio of 49% for liquid assets and available borrowings to total deposits[38]. - The company issued a $25 million subordinated note, qualifying as Tier 2 capital at the consolidated level[40]. Operational Highlights - The company operates twelve full-service branches and five loan production offices across California, Texas, and Nevada, focusing on small- and medium-sized businesses[44]. - The company declared a quarterly cash dividend of $0.12 per share, payable on February 19, 2026[39]. - The bank sold $28.5 million in SBA loans at an average premium rate of 6.98%, compared to $36.8 million sold at an average premium rate of 6.71% in the prior period[18].

Financial Performance - Net income for Q4 2025 was $3.4 million, or $0.35 diluted earnings per share, a decrease of 2.8% from Q3 2025 but an increase of 45.8% from Q4 2024[1]. - For the full year 2025, net income totaled $11.6 million, or $1.17 per diluted earnings share, up from $9.4 million, or $0.92 per diluted earnings share in 2024[3]. - Net income for the year ended December 31, 2025, was $11,577,000, representing a 23.5% increase from $9,377,000 in 2024[40]. Interest Income and Margin - Net interest income before provision for credit losses increased by $239,000, or 2.1%, to $11.5 million in Q4 2025 compared to Q3 2025, and increased by $1.7 million, or 16.9%, from Q4 2024[9]. - The annualized net interest margin improved to 3.11% in Q4 2025, compared to 3.07% in Q3 2025 and 2.70% in Q4 2024[19]. - Net interest income for the three months ended December 31, 2025, was $11,534,000, an increase of 16.8% compared to $9,866,000 for the same period in 2024[40]. - The net interest margin for the three months ended December 31, 2025, was 3.11%, compared to 2.70% for the same period in 2024[44]. - The net interest margin improved to 2.97% in 2025 compared to 2.67% in 2024, reflecting a stronger yield on interest-earning assets at 5.83%[46][48]. Credit Losses and Provisions - The Company recorded a provision for credit losses of $409,000 in Q4 2025, compared to $269,000 in Q3 2025 and $196,000 in Q4 2024[20]. - The provision for credit losses for the three months ended December 31, 2025, was $409,000, compared to $196,000 for the same period in 2024, indicating a rise in credit loss provisions[40]. - The allowance for credit losses on loans and leases increased by $675,000, or 4.3%, to $16.5 million at December 31, 2025, representing 1.38% of total loans and leases outstanding[27]. - The allowance for credit losses to total loans and leases was 1.38% as of December 31, 2025, slightly up from 1.34% in December 2024, showing a cautious approach to credit risk[48]. Asset and Equity Management - Total assets remained stable at $1.5 billion as of December 31, 2025, consistent with the previous quarters[12]. - Stockholders' equity increased to $145.8 million at December 31, 2025, compared to $140.0 million at September 30, 2025[12]. - Stockholders' equity totaled $145.8 million at December 31, 2025, an increase of $12.9 million, or 9.7%, from December 31, 2024, primarily due to net income of $11.6 million[33]. - Total assets as of December 31, 2025, reached $1,525,790, an increase from $1,504,875 as of December 31, 2024[41]. - Total assets increased by $20.9 million, or 1.4%, to $1.5 billion at December 31, 2025, driven by a $17.9 million increase in loans and leases[24]. Nonperforming Loans and Asset Quality - Nonperforming loans and leases totaled $17.4 million, or 1.46% of total loans and leases, at December 31, 2025, up from $10.8 million, or 0.90%, at September 30, 2025[12]. - Nonperforming loans and leases totaled $17.4 million, or 1.46% of total loans and leases, at December 31, 2025, up from $6.8 million, or 0.58%, at December 31, 2024[26]. - Non-performing assets to total assets ratio increased to 1.14% in December 2025, up from 0.45% in December 2024, indicating a decline in asset quality[48]. Deposits and Funding - Total deposits increased by $21.0 million, or 1.9%, to $1.1 billion at December 31, 2025, with retail time deposits contributing significantly to this growth[31]. - Total deposits as of December 31, 2025, were $1,114,893, an increase from $1,093,940 as of December 31, 2024[42]. Operational Efficiency - Total noninterest expense rose by $454,000, or 5.6%, to $8.5 million for the three months ended December 31, 2025, compared to the third quarter of 2025, and increased by $611,000, or 7.7%, compared to the same period in 2024[22]. - The efficiency ratio improved to 65.39% in December 2025, compared to 71.68% in December 2024, indicating better cost management[48]. Merger and Corporate Actions - The proposed merger with Farmers Bancorp is valued at approximately $82 million, with Farmers Bancorp shareholders receiving 3.40 shares of Company common stock for each share of Farmers Bancorp[5]. - The proposed merger with Farmers Bancorp is underway, with a registration statement on Form S-4 to be filed with the SEC[51]. Tax and Regulatory Metrics - The effective tax rate for the fourth quarter of 2025 was 17.0%, compared to 15.2% in the third quarter of 2025 and 15.7% in the fourth quarter of the previous year[23]. - Common equity tier 1 capital ratio was 13.38% as of December 31, 2025, reflecting a stable capital position[48]. Interest Rate and Asset Management - Average interest rate spread increased to 2.61% in December 2025, compared to 2.19% in December 2024, indicating improved profitability on interest-earning assets[48]. - Total interest-earning assets increased to $1,473,865 thousand in 2025, up from $1,451,544 thousand in 2024, with a net interest income of $43,846 thousand[46].

Financial Performance - Net income attributable to Amerant was $2.7 million in Q4 2025, down from $14.8 million in Q3 2025, with a full-year net income of $52.4 million compared to a net loss of $15.8 million in 2024[1][2] - Net income attributable to Amerant Bancorp Inc. for the three months ended December 31, 2025, was $2,701,000, a decrease from $14,756,000 in the previous quarter[28] - Core net income for the same period was $21,670,000, compared to $16,425,000 in the prior quarter, reflecting a 32.5% increase[28] - Basic earnings per common share for the three months ended December 31, 2025, were $0.07, down from $0.35 in the previous quarter[21] - Core basic earnings per common share increased to $0.53 for the three months ended December 31, 2025, from $0.39 in the previous quarter, a rise of 36.1%[23] Asset and Loan Management - Total assets decreased by $633.2 million, or 6.1%, to $9.8 billion compared to the previous quarter[3] - Total gross loans were $6.7 billion, a decrease of $244.6 million, or 3.5%, from $6.9 billion[3] - Total assets as of December 31, 2025, were $9,777,018,000, a decrease from $10,410,199,000 as of September 30, 2025[21] - Total gross loans decreased to $6,697,235,000 as of December 31, 2025, from $6,941,792,000 as of September 30, 2025, representing a decline of approximately 3.5%[21] - Loans held for investment decreased to $6,613,391 as of December 31, 2025, down from $6,941,792 as of September 30, 2025, reflecting a reduction of about 4.7%[63] Deposits and Funding - Total deposits fell by $514.0 million, or 6.2%, to $7.8 billion compared to $8.3 billion[4] - Core deposits decreased by $412.1 million, or 6.6%, to $5.8 billion compared to $6.2 billion[4] - Total deposits as of December 31, 2025, were $7,786,934, down from $8,300,969 as of September 30, 2025, indicating a decrease of approximately 6.2%[60] - Domestic deposits were $5.17 billion, a decrease from $5.73 billion in the prior quarter, representing a 9.8% decline[77] - Foreign deposits increased to $2.62 billion, up from $2.57 billion in the previous quarter, a growth of 2.0%[77] Non-Performing Assets - Total non-performing assets increased by $47.0 million, or 33.6%, to $186.9 million compared to $139.9 million[4] - Total non-performing loans reached $171.4 million, compared to $124.3 million in the prior quarter, marking a 37.9% increase[69] - Non-accrual loans totaled $168.3 million, up from $122.9 million in the previous quarter, reflecting a 36.9% increase[69] - The ratio of non-performing loans to total loans held for investment was approximately 41.8% as of December 31, 2025[73] Income and Expenses - Non-interest income rose by $4.7 million, or 27.3%, to $22.0 million compared to $17.3 million in the previous quarter[4] - Total noninterest income for Q4 2025 was $22.019 million, an increase from $17.291 million in Q3 2025[27] - Total noninterest expenses for Q4 2025 were $106.772 million, up from $77.835 million in Q3 2025[27] - The efficiency ratio was 95.19% in Q4 2025, up from 69.84% in Q4 2024[6] - The company reported restructuring costs related to cost reduction initiatives aimed at improving the cost structure and de-risking the loan portfolio[31] Capital and Equity - Stockholders' book value per common share increased to $23.13 as of December 31, 2025, from $22.90 as of September 30, 2025[21] - The total stockholders' equity as of December 31, 2025, was $938,802, slightly down from $944,940 as of September 30, 2025, a decrease of about 0.2%[60] - Tangible common equity ratio increased to 9.39% from 8.87% in the previous quarter[30] - The total capital ratio improved to 14.10% as of December 31, 2025, compared to 13.90% in the previous quarter[22] Interest Income and Margin - Net interest income for the three months ended December 31, 2025, was $90,150,000, compared to $94,152,000 for the previous quarter, reflecting a decrease of about 4.3%[21] - The net interest margin was 3.78%, down from 3.92% in the previous quarter[4] - The average interest rate spread for the three months ended December 31, 2025, was 3.09%[36] - The net interest income for the year ended December 31, 2025, was $360,685 thousand, compared to $325,957 thousand for the previous year, reflecting an increase of 10.6%[39] Other Financial Metrics - The provision for credit losses was $3,490,000 for the three months ended December 31, 2025, significantly lower than $14,600,000 in the previous quarter[21] - The allowance for credit losses was $79,276 as of December 31, 2025, compared to $94,918 as of September 30, 2025, showing a reduction of about 16.6%[60] - The company reported a total of $15.5 million in other real estate owned (OREO) as of December 31, 2025, consistent with the previous quarter[69] - The company recognized a loss of $1.1 million on the sale of loans associated with its white-label equipment finance solution during the three months ended December 31, 2025[10]

Financial Performance - Net income available to common stockholders for Q4 2025 was $13.1 million, or $0.23 per diluted share, down from $20.9 million, or $0.36 per diluted share in Q4 2024[2]. - Core earnings for Q4 2025 were $23.5 million, or $0.41 per diluted share, an increase from $22.1 million, or $0.38 per diluted share in Q4 2024[3]. - Net income for the year ended December 31, 2025, was $71.027 million, a decrease from $100.390 million in 2024, representing a decline of 29.2%[58]. - Basic earnings per share for the three months ended December 31, 2025, were $0.23, down from $0.30 in the previous quarter, showing a decrease of 23.3%[58]. - Net income attributable to OceanFirst Financial Corp. was $13,093 million for the quarter, compared to $17,330 million in the previous quarter[77]. - Core diluted earnings per share increased to $0.41, up from $0.36 in the previous quarter, marking a growth of 13.9%[83]. Loans and Assets - Total loans increased by $474.0 million, representing an 18% annualized growth rate, with loan originations at $1.05 billion for the quarter[6]. - Total loans receivable as of December 31, 2025, reached $11.032 billion, up from $10.558 billion at the end of the previous quarter, indicating a growth of 4.5%[60]. - Loans receivable net of allowance for loan credit losses increased to $10,970,666 thousand as of December 31, 2025, compared to $10,489,852 thousand on September 30, 2025, and $10,055,429 thousand on December 31, 2024[56]. - The loan pipeline increased by $167.4 million to $474.1 million, primarily due to an increase in the commercial loan pipeline of $267.1 million[33]. - Total assets rose by $1.14 billion to $14.56 billion, driven by a $913.9 million increase in total loans, reaching $11.03 billion[33]. Deposits and Equity - Deposits increased by $898.1 million to $10.96 billion, with time deposits rising by $387.9 million to $2.47 billion, representing 22.5% of total deposits[34]. - Total stockholders' equity decreased to $1.66 billion, primarily due to the redemption of preferred stock for $55.5 million and capital returns[38]. - Total deposits increased to $10,964,405 million as of December 31, 2025, up from $10,435,994 million in the previous quarter, representing a growth of 5.06%[63]. - Total stockholders' equity was $1,662,550 million, slightly up from $1,653,427 million in the previous quarter[77]. - Tangible common equity increased by $24.8 million to $1.14 billion, while the tangible book value per common share increased to $19.79[40]. Operating Expenses - Operating expenses increased to $84.1 million in Q4 2025, impacted by non-core operations of $12.9 million related to restructuring and merger expenses[26]. - Total operating expenses for the three months ended December 31, 2025, were $84.142 million, an increase from $76.327 million in the previous quarter, reflecting an increase of 10.7%[58]. - Operating expenses increased to $296.2 million for the year ended December 31, 2025, compared to $245.9 million in 2024, with non-core operations impacting expenses by $16.9 million[28]. Credit Quality - Provision for credit losses for Q4 2025 was $3.7 million, compared to $3.5 million in Q4 2024[17]. - The allowance for loan credit losses was 0.76% of total loans, up from 0.73% in the previous year, while non-performing loans decreased to $27.8 million, representing 0.25% of total loans[41]. - Non-performing loans decreased to $27,791 million from $41,263 million in the previous quarter, a reduction of 32.5%[65]. - The company reported a total of $2.5 million in non-performing residential and consumer loans sold during the quarter ended December 31, 2025[66]. - The allowance for loan credit losses as a percentage of total non-performing loans was 301.27% as of December 31, 2025[65]. Mergers and Acquisitions - The company announced a merger agreement with Flushing Financial Corporation, expected to close in Q2 2026, subject to regulatory approvals[5]. - The company has proposed a transaction with Flushing Financial Corporation, which is subject to various risks and uncertainties, including regulatory approvals and market conditions[48]. - OceanFirst anticipates filing a registration statement on Form S-4 with the SEC regarding the proposed transaction, which will include a joint proxy statement/prospectus[52]. - The company emphasizes the importance of reading the registration statement and joint proxy statement/prospectus for detailed information about the proposed transaction[53]. Future Outlook - The company plans to host an earnings conference call on January 23, 2026, to discuss financial results and future outlook[45]. - OceanFirst's financial performance estimates may be affected by changes in economic conditions, including inflation and labor shortages[48].

Financial Performance - Net income available to common stockholders for Q4 2025 was $13.1 million, or $0.23 per diluted share, down from $20.9 million, or $0.36 per diluted share in Q4 2024[2]. - Core earnings for Q4 2025 were $23.5 million, or $0.41 per diluted share, an increase from $22.1 million, or $0.38 per diluted share in Q4 2024[3]. - Net income for the year ended December 31, 2025, was $71.027 million, a decrease from $100.390 million in 2024, representing a decline of 29.2%[58]. - Basic earnings per share for the three months ended December 31, 2025, was $0.23, down from $0.30 in the previous quarter[58]. - Net income attributable to OceanFirst Financial Corp. was $13,093 million for the quarter, compared to $17,330 million in the previous quarter[77]. - Core diluted earnings per share for Q4 2025 were $0.41, an increase from $0.38 in Q4 2024[83]. Loan and Asset Growth - Total loans increased by $474.0 million, representing an 18% annualized growth rate, with loan originations at $1.05 billion for the quarter[6]. - Total loans receivable as of December 31, 2025, reached $11.032 billion, up from $10.558 billion at the end of the previous quarter, indicating a growth of 4.5%[60]. - Loans receivable net of allowance for loan credit losses increased to $10,970,666 thousand as of December 31, 2025, compared to $10,489,852 thousand on September 30, 2025, and $10,055,429 thousand on December 31, 2024[56]. - The loan pipeline increased by $167.4 million to $474.1 million, primarily due to a rise in the commercial loan pipeline[33]. - Commercial real estate loans increased to $5.421 billion as of December 31, 2025, from $5.211 billion in the previous quarter, reflecting a growth of 4.0%[60]. Interest Income and Margin - Net interest income rose by $4.6 million, or 5%, to $95.3 million, with a net interest margin of 2.87%, up from 2.69% in Q4 2024[8]. - Total interest income for the three months ended December 31, 2025, was $171.732 million, an increase from $162.194 million in the previous quarter[58]. - Net interest income after provision for credit losses for the year ended December 31, 2025, was $344.052 million, compared to $326.346 million in 2024, reflecting a year-over-year increase of 5.2%[58]. - The average yield on loans for the three months ended December 31, 2025, was 6.80%, compared to 6.46% in the previous quarter[60]. - The net interest rate spread for the year was 2.36%, an increase from 2.13% in the previous year, indicating improved efficiency in interest income generation[73]. Operating Expenses - Operating expenses increased to $84.1 million in Q4 2025, up from $64.8 million in Q4 2024, impacted by restructuring and merger-related expenses[26]. - Total operating expenses for the three months ended December 31, 2025, were $84.142 million, an increase from $76.327 million in the previous quarter[58]. - Operating expenses (excluding non-core operations) were $71,227 million, slightly lower than $72,390 million in the previous quarter[77]. - Operating expenses increased to $296.2 million for the year ended December 31, 2025, compared to $245.9 million in 2024, with non-core operations impacting expenses by $16.9 million[28]. Capital and Equity - The estimated common equity tier one capital ratio was 10.7% as of December 31, 2025, positively impacted by a credit risk transfer on a $1.5 billion pool of residential loans[6]. - Total stockholders' equity decreased to $1.66 billion, primarily due to the redemption of preferred stock for $55.5 million[38]. - Tangible common equity increased by $24.8 million to $1.14 billion, with a tangible common equity to tangible assets ratio of 8.09%[40]. - Stockholders' equity for OceanFirst Financial Corp. was $1,662,550 thousand as of December 31, 2025, slightly up from $1,652,537 thousand on September 30, 2025, but down from $1,701,650 thousand on December 31, 2024[56]. - The ratio of tangible stockholders' equity to tangible assets was 8.09%, slightly down from 8.12% in the previous quarter[86]. Dividends and Share Repurchase - The quarterly cash dividend declared was $0.20 per share, marking the 116th consecutive quarterly dividend[5]. - The company repurchased 1,433,537 shares totaling $24.9 million at a weighted average cost of $17.21 during the year ended December 31, 2025[39]. - The company maintained a cash dividend of $0.20 per common share for the last four quarters[80]. Proposed Merger - The company announced a merger agreement with Flushing Financial Corporation, expected to close in Q2 2026, subject to regulatory approvals[5]. - The company is in the process of a proposed transaction with Flushing Financial Corporation, which is subject to various risks and uncertainties, including regulatory approvals and market conditions[48]. - OceanFirst anticipates filing a registration statement on Form S-4 with the SEC, which will include a joint proxy statement/prospectus for stockholder votes regarding the proposed transaction[52]. - The company emphasizes the importance of reviewing the registration statement and joint proxy statement/prospectus for detailed information about the proposed transaction and associated risks[53]. - OceanFirst and Flushing's directors and executive officers may be participants in the solicitation of proxies related to the proposed transaction, with further details to be provided in the registration statement[54]. Asset Quality - The allowance for loan credit losses was 0.76% of total loans, up from 0.73% in the previous year, with non-performing loans decreasing to $27.8 million[41]. - Non-performing loans decreased to $27,791 million from $41,263 million in the previous quarter, a reduction of 32.5%[65]. - Total non-performing assets declined to $38,057 million, down from $48,761 million, indicating a decrease of 22%[65]. - The total allowance for loan credit losses as a percentage of total non-performing loans was 301.27%, up from 196.87% in the previous quarter, indicating a stronger reserve position[65]. - The company has been actively managing its asset quality, with significant sales of non-performing loans recorded in the previous quarters[66].

Financial Performance - Q4 2025 net income available to common shareholders was $70.1 million, or $1.98 per diluted share; core earnings were $72.9 million, or $2.06 per diluted share[3] - 2025 net income available to common shareholders was $209.2 million, or $6.26 per diluted share; core earnings were $254.5 million, or $7.61 per diluted share[3] - Net income available to common shareholders for Q4 2025 was $70,088,000, a decrease of 5.4% from Q3 2025's $73,726,000[42] - Diluted earnings per share for Q4 2025 was $1.98, down from $2.20 in Q3 2025, representing a 10% decline[42] - Core earnings for Q4 2025 were $72,851,000, slightly down from $73,473,000 in Q3 2025[42] - Net income for the twelve months ended December 31, 2025, was $224,088,000, an increase from $181,469,000 in the previous year, marking a growth of 23.4%[45] - The company reported a total of $254,473 thousand in core earnings for the year 2025, compared to $183,105 thousand in 2024[62] Asset and Loan Growth - Total deposits increased by $373.7 million, or 1.8%, and total loans increased by $479.4 million, or 2.9%, in Q4 2025 from Q3 2025[3] - Total deposits increased by $1.9 billion, or 10.3%, and total loans increased by $2.1 billion, or 14.5%, from December 31, 2024 to December 31, 2025[3] - Loans and leases held for investment were $16.8 billion at December 31, 2025, up $2.3 billion, or 16.0%, year-over-year[12] - Total loans and leases reached $16,782,516,000 in Q4 2025, a 2.9% increase from $16,303,147,000 in Q3 2025[42] - Total loans and leases for the twelve months ended December 31, 2025, were $1,024,760,000, an increase from $901,457,000 in the previous year, reflecting a growth of 13.7%[45] - Specialized lending loans and leases increased to $7,090,259 thousand in December 2025, up from $5,842,420 thousand in December 2024, a growth of 21.36%[53] Deposits and Liabilities - Total deposits increased to $20,778,704,000 in Q4 2025, up from $20,405,023,000 in Q3 2025, showing growth in customer deposits[42] - Total liabilities grew to $22,780,351 thousand, an increase of 2.9% from $22,134,104 thousand in the previous quarter[46] - Non-interest-bearing deposits totaled $6,303,748 thousand in December 2025, compared to $5,608,288 thousand in December 2024, an increase of 12.38%[54] Income and Expense Analysis - Net interest income totaled a record $750.5 million in 2025, an increase of $96.1 million, or 14.7%, from 2024[3] - Non-interest income totaled $32.5 million for Q4 2025, an increase of $2.3 million compared to Q3 2025[24] - Non-interest expenses totaled $117.3 million in Q4 2025, an increase of $12.1 million compared to Q3 2025[26] - Total non-interest expense for Q4 2025 was $117,309,000, compared to $110,375,000 in Q4 2024, representing an increase of 6.5%[45] - GAAP non-interest expense increased to $117,309 thousand in Q4 2025 from $105,217 thousand in Q3 2025, with a total of $431,923 thousand for 2025 compared to $417,014 thousand in 2024[65] Credit Quality and Provisions - Non-performing loans at December 31, 2025 were 0.26% of total loans and leases, compared to 0.17% at September 30, 2025[20] - Provision for credit losses for Q4 2025 was $22,337,000, compared to $21,194,000 in Q4 2024, indicating a slight increase in credit loss provisions[45] - The total allowance for credit losses on loans and leases was $155,656 thousand, slightly up from $151,809 thousand, indicating a 2.5% increase[46] - The net charge-offs for Q4 2025 were $13,749, compared to $15,371 in Q3 2025, indicating a decrease in charge-offs[57] Capital and Efficiency Ratios - CET 1 capital ratio was 13.0% at December 31, 2025, compared to 12.1% at December 31, 2024[3] - Common equity to total assets ratio improved to 8.5% in Q4 2025, up from 8.4% in Q3 2025[43] - The efficiency ratio for Q4 2025 was 49.52%, an increase from 45.39% in Q3 2025, reflecting higher operational costs[42] - Tangible common equity to tangible assets ratio increased to 8.5% in Q4 2025 from 8.4% in Q3 2025, reflecting a steady improvement in capital efficiency[66] Future Outlook - For 2026, Customers Bancorp is targeting loan growth of 8% to 12% and deposit growth of 8% to 12%, with net interest income projected to reach $800 to $830 million[32] - Non-interest expenses are expected to be between $440 to $460 million as the company continues to invest in people and technology[32] - The company aims to maintain a Common Equity Tier 1 (CET1) ratio of 11.5% to 12.5% and anticipates a tax rate of 23% to 25%[32] Recognition and Client Focus - Customers Bancorp has been recognized as a Top 10 Performing Bank by American Banker for five consecutive years (2021-2025), achieving the 1 spot in 2024 among midsize banks[39] - The company reported a Net Promoter Score of 81, significantly higher than the industry average of 41[39] - Customers Bancorp emphasizes a client-centric culture and a Single Point of Contact service model to differentiate itself from peers[30] - Customers Bancorp is focused on enhancing its payments capabilities and increasing the utilization of AI and automation technologies to improve client experiences and productivity[31]

Financial Performance - The company reported net income of $63.8 million for Q4 2025, a decrease of $4.1 million, or 6%, from Q3 2025, but an increase of $2.0 million, or 3%, from Q4 2024[1]. - Diluted earnings per share for Q4 2025 was $0.49, a decrease of $0.08 per share, or 14%, from Q3 2025, and a decrease of $0.05 per share, or 9%, from Q4 2024[1]. - For the year 2025, net income was $239 million, an increase of $48.9 million, or 26%, from the prior year[2]. - The effective tax rate for the current quarter was 16.4 percent, down from 20.4 percent in the prior quarter, reflecting a decrease in pre-tax income[35]. - Net income for the year ended December 31, 2025, was $239.03 million, up 25.7% from $190.14 million in 2024[55]. Asset and Deposit Growth - The company's total assets exceeded $30 billion, ending the year at $31.978 billion[1]. - Total deposits reached $24.591 billion at December 31, 2025, an increase of $2.720 billion, or 12%, from the prior quarter[1]. - Total assets increased to $31.98 billion as of December 31, 2025, up from $29.02 billion in the previous quarter, representing a 10.1% increase year-over-year[53]. - Total liabilities increased to $27.76 billion, up from $24.68 billion year-over-year, reflecting a 12.4% growth[53]. - Total stockholders' equity increased to $4.21 billion, a 30.8% increase from $3.22 billion in the previous year[53]. Loan Portfolio - The loan portfolio increased to $20.928 billion at December 31, 2025, an increase of $2.137 billion, or 11%, from the prior quarter[1]. - Total loans receivable reached $20.93 billion, an increase of 21.5% from $17.26 billion year-over-year[53]. - Total loans increased to $20,988,722 thousand for the three months ended December 31, 2025, up from $18,678,194 thousand in the previous quarter, representing a growth of 12.5%[57]. - The average yield on total loans improved to 6.09% for the three months ended December 31, 2025, compared to 5.97% in the previous quarter[57]. - The average yield on total loans increased to 5.93% in 2025 from 5.61% in 2024, indicating improved loan performance and interest income generation[63]. Interest Income and Margin - Net interest income for Q4 2025 was $266 million, an increase of $40.7 million, or 18%, from Q3 2025, and an increase of $74.6 million, or 39%, from Q4 2024[1]. - Interest income reached $373 million, up $47.8 million, or 15%, from the prior quarter and $75.8 million, or 26%, from the prior year fourth quarter, attributed to higher loan yields[27]. - The net interest margin for Q4 2025 was 3.58%, an increase of 19 basis points from Q3 2025 and an increase of 61 basis points from Q4 2024[1]. - The net interest margin (tax-equivalent) improved to 3.32% in 2025 from 2.77% in 2024, showcasing enhanced profitability from earning assets[63]. - The net interest margin (tax-equivalent) improved to 3.58% for the three months ended December 31, 2025, compared to 3.39% in the previous quarter[57]. Non-Interest Income and Expenses - Non-interest income totaled $40.4 million, a rise of $5.1 million, or 14%, from the prior quarter and $8.9 million, or 28%, from the prior year fourth quarter[30]. - Total non-interest expense was $195 million, an increase of $26.8 million, or 16%, from the prior quarter and $53.6 million, or 38%, from the prior year fourth quarter, primarily due to acquisition-related costs[31]. - Total non-interest income totaled $141 million for 2025, a 10% increase from the prior year, with service charges and fees contributing $85.1 million, up 8%[43]. - Total non-interest expense was $669 million for 2025, an increase of $90.3 million, or 16%, primarily due to costs associated with recent acquisitions[44]. Credit Quality and Allowance for Losses - Non-performing assets were $68.9 million, increasing by $14.6 million, or 27 percent, over the prior quarter and $41.1 million, or 148 percent, over the prior year end[11]. - The allowance for credit losses increased to $255.3 million, representing 1.22 percent of total loans, compared to 1.19 percent at December 31, 2024[11]. - The provision for credit losses for the current quarter was $35.7 million, including $25.6 million on loans and $1.6 million on unfunded loan commitments[13]. - Provision for credit losses rose to $35.66 million in Q4 2025, compared to $8.53 million in Q4 2024, indicating increased caution in credit risk management[55]. - The provision for credit losses was $71.4 million for 2025, an increase of $43.1 million, or 152%, largely due to acquisitions[45]. Acquisitions - The company completed the acquisition of Guaranty Bancshares, Inc. on October 1, 2025, which had total assets of $3.357 billion[1][5]. - The company also completed the acquisition of Bank of Idaho Holding Co. on April 30, 2025, which had total assets of $1.364 billion[6]. Future Outlook and Risks - The company anticipates potential risks from changes in economic conditions, regulatory changes, and competition that could impact future performance[48]. - A conference call for investors is scheduled for January 23, 2026, to discuss further details and outlook[50].

Exhibit 99.1 Press Release BayCom Corp Reports 2025 Fourth Quarter Earnings of $6.9 Million WALNUT CREEK, CA, January 22, 2026--(Business Wire) BayCom Corp ("BayCom" or the "Company") (NASDAQ: BCML), the holding company for United Business Bank (the "Bank" or "UBB"), announced earnings of $6.9 million, or $0.63 per diluted common share, for the fourth quarter of 2025, compared to earnings of $5.0 million, or $0.46 per diluted common share, for the third quarter of 2025 and $6.1 million, or $0.55 per diluted ...