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10-Q Filing

OCEANFIRST FINANCIAL CORP CIK: 1004702 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001004702-23-000106
Period End Date 20230331
Filing Date 20230501
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance ocfc-20230331_htm.xml
Balance Sheet 98 line items
Line Item Tag Value Unit Period
Allowance for credit losses DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest $1.04M USD Point-in-time
Allowance for credit losses DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest $1.47M USD Point-in-time
Allowance for credit losses DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest $1.13M USD Point-in-time
Allowance for credit losses DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest $1.38M USD Point-in-time
Cash and due from banks CashAndDueFromBanks $496.19M USD Point-in-time
Cash and due from banks CashAndDueFromBanks $204.95M USD Point-in-time
Cash and due from banks CashAndDueFromBanks $167.95M USD Point-in-time
Securities held-to-maturity, fair value HeldToMaturitySecuritiesFairValue $1.11B USD Point-in-time
Cash and due from banks CashAndDueFromBanks $210.92M USD Point-in-time
Securities held-to-maturity, fair value HeldToMaturitySecuritiesFairValue $1.15B USD Point-in-time
Allowance for loan credit losses FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest $56.82M USD Point-in-time
Debt securities available-for-sale, at estimated fair value DebtSecuritiesAvailableForSaleExcludingAccruedInterest $452.19M USD Point-in-time
Allowance for loan credit losses FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest $48.85M USD Point-in-time
Debt securities available-for-sale, at estimated fair value DebtSecuritiesAvailableForSaleExcludingAccruedInterest $457.65M USD Point-in-time
Allowance for loan credit losses FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest $50.60M USD Point-in-time
Allowance for loan credit losses FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest $60.20M USD Point-in-time
Debt securities held-to-maturity, net of allowance for securities credit losses of $1,043 at March 31, 2023 and $1,128 at December 31, 2022 (estimated fair value of $1,149,673 at March 31, 2023 and $1,110,041 at December 31, 2022) DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss $1.25B USD Point-in-time
Debt securities held-to-maturity, net of allowance for securities credit losses of $1,043 at March 31, 2023 and $1,128 at December 31, 2022 (estimated fair value of $1,149,673 at March 31, 2023 and $1,110,041 at December 31, 2022) DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss $1.22B USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, liquidation preference, value PreferredStockLiquidationPreferenceValue $1.00K USD Point-in-time
Preferred stock, liquidation preference, value PreferredStockLiquidationPreferenceValue $1.00K USD Point-in-time
Equity investments EquityInvestments $101.01M USD Point-in-time
Equity investments EquityInvestments $102.04M USD Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 5.00M shares Point-in-time
Restricted equity investments, at cost FederalHomeLoanBankStock $115.75M USD Point-in-time
Restricted equity investments, at cost FederalHomeLoanBankStock $109.28M USD Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 5.00M shares Point-in-time
Preferred stock, shares issued (in shares) PreferredStockSharesIssued 57,370.00 shares Point-in-time
Loans receivable, net of allowance for loan credit losses of $60,195 at March 31, 2023 and $56,824 at December 31, 2022 FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss $9.87B USD Point-in-time
Loans receivable, net of allowance for loan credit losses of $60,195 at March 31, 2023 and $56,824 at December 31, 2022 FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss $9.99B USD Point-in-time
Preferred stock, shares issued (in shares) PreferredStockSharesIssued 57,370.00 shares Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Loans held-for-sale MortgagesHeldforsaleCarryingValue $690.00K USD Point-in-time
Loans held-for-sale MortgagesHeldforsaleCarryingValue $1.89M USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 150.00M shares Point-in-time
Interest and dividends receivable InterestReceivable $44.70M USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 150.00M shares Point-in-time
Interest and dividends receivable InterestReceivable $47.34M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 62.22M shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 61.88M shares Point-in-time
Premises and equipment, net PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $126.02M USD Point-in-time
Premises and equipment, net PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $126.70M USD Point-in-time
Bank owned life insurance BankOwnedLifeInsurance $262.65M USD Point-in-time
Bank owned life insurance BankOwnedLifeInsurance $261.60M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 59.14M shares Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 59.49M shares Point-in-time
Treasury stock, shares (in shares) TreasuryStockCommonShares 2.73M shares Point-in-time
Assets held for sale AssetsHeldForSaleNotPartOfDisposalGroup $2.72M USD Point-in-time
Treasury stock, shares (in shares) TreasuryStockCommonShares 2.73M shares Point-in-time
Assets held for sale AssetsHeldForSaleNotPartOfDisposalGroup $2.72M USD Point-in-time
Goodwill Goodwill $506.15M USD Point-in-time
Goodwill Goodwill $506.15M USD Point-in-time
Core deposit intangible IntangibleAssetsNetExcludingGoodwill $12.47M USD Point-in-time
Core deposit intangible IntangibleAssetsNetExcludingGoodwill $13.50M USD Point-in-time
Other assets OtherAssets $221.07M USD Point-in-time
Other assets OtherAssets $198.42M USD Point-in-time
Total assets Assets $13.10B USD Point-in-time
Total assets Assets $13.56B USD Point-in-time
Deposits Deposits $9.99B USD Point-in-time
Deposits Deposits $9.68B USD Point-in-time
Federal Home Loan Bank (FHLB) advances AdvancesFromFederalHomeLoanBanks $1.21B USD Point-in-time
Federal Home Loan Bank (FHLB) advances AdvancesFromFederalHomeLoanBanks $1.35B USD Point-in-time
Securities sold under agreements to repurchase with customers SecuritiesSoldUnderAgreementsToRepurchase $69.10M USD Point-in-time
Securities sold under agreements to repurchase with customers SecuritiesSoldUnderAgreementsToRepurchase $70.94M USD Point-in-time
Other borrowings OtherBorrowings $195.40M USD Point-in-time
Other borrowings OtherBorrowings $195.66M USD Point-in-time
Advances by borrowers for taxes and insurance AdvancePaymentsByBorrowersForTaxesAndInsurance $21.41M USD Point-in-time
Advances by borrowers for taxes and insurance AdvancePaymentsByBorrowersForTaxesAndInsurance $31.20M USD Point-in-time
Other liabilities OtherLiabilities $346.15M USD Point-in-time
Other liabilities OtherLiabilities $307.34M USD Point-in-time
Total liabilities Liabilities $11.52B USD Point-in-time
Total liabilities Liabilities $11.94B USD Point-in-time
Preferred stock, $0.01 par value, $1,000 liquidation preference, 5,000,000 shares authorized, and 57,370 shares issued at both March 31, 2023 and December 31, 2022 PreferredStockValue $1.00K USD Point-in-time
Preferred stock, $0.01 par value, $1,000 liquidation preference, 5,000,000 shares authorized, and 57,370 shares issued at both March 31, 2023 and December 31, 2022 PreferredStockValue $1.00K USD Point-in-time
Common stock, $0.01 par value, 150,000,000 shares authorized, 62,219,644 and 61,877,686 shares issued at March 31, 2023 and December 31, 2022, respectively; and 59,486,086 and 59,144,128 shares outstanding at March 31, 2023 and December 31, 2022, respectively CommonStockValue $613.00K USD Point-in-time
Common stock, $0.01 par value, 150,000,000 shares authorized, 62,219,644 and 61,877,686 shares issued at March 31, 2023 and December 31, 2022, respectively; and 59,486,086 and 59,144,128 shares outstanding at March 31, 2023 and December 31, 2022, respectively CommonStockValue $612.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.15B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.16B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $554.94M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $540.51M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-29.32M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-35.98M USD Point-in-time
Less: Unallocated common stock held by Employee Stock Ownership Plan ("ESOP") CommonStockIssuedEmployeeTrustDeferred $5.59M USD Point-in-time
Less: Unallocated common stock held by Employee Stock Ownership Plan ("ESOP") CommonStockIssuedEmployeeTrustDeferred $6.19M USD Point-in-time
Treasury stock, 2,733,558 shares at both March 31, 2023 and December 31, 2022 TreasuryStockCommonValue $69.11M USD Point-in-time
Treasury stock, 2,733,558 shares at both March 31, 2023 and December 31, 2022 TreasuryStockCommonValue $69.11M USD Point-in-time
OceanFirst Financial Corp. stockholders equity StockholdersEquity $1.61B USD Point-in-time
OceanFirst Financial Corp. stockholders equity StockholdersEquity $1.58B USD Point-in-time
Non-controlling interest MinorityInterest $802.00K USD Point-in-time
Non-controlling interest MinorityInterest $818.00K USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.59B USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.61B USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.52B USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.52B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $13.10B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $13.56B USD Point-in-time
Income Statement 86 line items
Line Item Tag Value Unit Period
Loans InterestAndFeeIncomeLoansAndLeases $82.47M USD 1 Quarter
Loans InterestAndFeeIncomeLoansAndLeases $121.72M USD 1 Quarter
Debt securities InterestIncomeDebtSecuritiesOperating $14.29M USD 1 Quarter
Debt securities InterestIncomeDebtSecuritiesOperating $7.50M USD 1 Quarter
Equity investments and other InterestAndDividendIncomeSecuritiesOther $3.03M USD 1 Quarter
Equity investments and other InterestAndDividendIncomeSecuritiesOther $1.01M USD 1 Quarter
Total interest income InterestAndDividendIncomeOperating $139.03M USD 1 Quarter
Total interest income InterestAndDividendIncomeOperating $90.98M USD 1 Quarter
Deposits InterestExpenseDeposits $4.04M USD 1 Quarter
Deposits InterestExpenseDeposits $21.33M USD 1 Quarter
Borrowed funds InterestExpenseBorrowings $2.71M USD 1 Quarter
Borrowed funds InterestExpenseBorrowings $18.90M USD 1 Quarter
Total interest expense InterestExpense $40.23M USD 1 Quarter
Total interest expense InterestExpense $6.76M USD 1 Quarter
Net interest income InterestIncomeExpenseNet $84.23M USD 1 Quarter
Net interest income InterestIncomeExpenseNet $98.80M USD 1 Quarter
Provision for credit losses ProvisionForLoanLeaseAndOtherLosses $1.85M USD 1 Quarter
Provision for credit losses ProvisionForLoanLeaseAndOtherLosses $3.01M USD 1 Quarter
Net interest income after provision for credit losses InterestIncomeExpenseAfterProvisionForLoanLoss $95.79M USD 1 Quarter
Net interest income after provision for credit losses InterestIncomeExpenseAfterProvisionForLoanLoss $82.38M USD 1 Quarter
Bankcard services revenue CreditAndDebitCardRevenue $2.96M USD 1 Quarter
Bankcard services revenue CreditAndDebitCardRevenue $1.33M USD 1 Quarter
Net gain on sales of loans GainLossOnSaleOfMortgageLoans $20.00K USD 1 Quarter
Net gain on sales of loans GainLossOnSaleOfMortgageLoans $177.00K USD 1 Quarter
Net loss on equity investments MarketableSecuritiesUnrealizedGainLoss $-6.80M USD 1 Quarter
Net loss on equity investments MarketableSecuritiesUnrealizedGainLoss $-2.79M USD 1 Quarter
Net loss from other real estate operations ProfitLossFromRealEstateOperations - USD 1 Quarter
Net loss from other real estate operations ProfitLossFromRealEstateOperations $-2.00K USD 1 Quarter
Income from bank owned life insurance BankOwnedLifeInsuranceIncome $2.10M USD 1 Quarter
Income from bank owned life insurance BankOwnedLifeInsuranceIncome $1.28M USD 1 Quarter
Commercial loan swap income GainLossOnOilAndGasHedgingActivity $2.78M USD 1 Quarter
Commercial loan swap income GainLossOnOilAndGasHedgingActivity $701.00K USD 1 Quarter
Other NoninterestIncomeOtherOperatingIncome $-229.00K USD 1 Quarter
Other NoninterestIncomeOtherOperatingIncome $-53.00K USD 1 Quarter
Total other income NoninterestIncome $8.85M USD 1 Quarter
Total other income NoninterestIncome $2.07M USD 1 Quarter
Compensation and employee benefits LaborAndRelatedExpense $30.70M USD 1 Quarter
Compensation and employee benefits LaborAndRelatedExpense $33.92M USD 1 Quarter
Occupancy OccupancyNet $5.74M USD 1 Quarter
Occupancy OccupancyNet $5.24M USD 1 Quarter
Equipment EquipmentExpense $1.37M USD 1 Quarter
Equipment EquipmentExpense $1.21M USD 1 Quarter
Marketing MarketingExpense $616.00K USD 1 Quarter
Marketing MarketingExpense $982.00K USD 1 Quarter
Federal deposit insurance and regulatory assessments FederalDepositInsuranceCorporationPremiumExpense $1.89M USD 1 Quarter
Federal deposit insurance and regulatory assessments FederalDepositInsuranceCorporationPremiumExpense $1.75M USD 1 Quarter
Data processing InformationTechnologyAndDataProcessing $6.15M USD 1 Quarter
Data processing InformationTechnologyAndDataProcessing $5.74M USD 1 Quarter
Check card processing CheckCardProcessing $1.28M USD 1 Quarter
Check card processing CheckCardProcessing $982.00K USD 1 Quarter
Professional fees ProfessionalFees $3.32M USD 1 Quarter
Professional fees ProfessionalFees $5.10M USD 1 Quarter
Amortization of core deposit intangible AmortizationOfDeferredCharges $1.03M USD 1 Quarter
Amortization of core deposit intangible AmortizationOfDeferredCharges $1.21M USD 1 Quarter
Branch consolidation expense, net BranchConsolidationExpenseBenefit $70.00K USD 1 Quarter
Branch consolidation expense, net BranchConsolidationExpenseBenefit $402.00K USD 1 Quarter
Merger related expenses BusinessCombinationAcquisitionRelatedCosts $1.97M USD 1 Quarter
Merger related expenses BusinessCombinationAcquisitionRelatedCosts $22.00K USD 1 Quarter
Other operating expense OtherCostAndExpenseOperating $3.56M USD 1 Quarter
Other operating expense OtherCostAndExpenseOperating $4.56M USD 1 Quarter
Total operating expenses OperatingExpenses $57.49M USD 1 Quarter
Total operating expenses OperatingExpenses $61.31M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $33.73M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $36.55M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $7.97M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $8.65M USD 1 Quarter
Net income ProfitLoss $25.76M USD 1 Quarter
Net income ProfitLoss $27.90M USD 1 Quarter
Net income attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $16.00K USD 1 Quarter
Net income attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net income attributable to OceanFirst Financial Corp. NetIncomeLoss $27.88M USD 1 Quarter
Net income attributable to OceanFirst Financial Corp. NetIncomeLoss $25.76M USD 1 Quarter
Dividends on preferred shares PreferredStockDividendsAndOtherAdjustments $1.00M USD 1 Quarter
Dividends on preferred shares PreferredStockDividendsAndOtherAdjustments $1.00M USD 1 Quarter
Net income available to common stockholders NetIncomeLossAvailableToCommonStockholdersBasic $24.75M USD 1 Quarter
Net income available to common stockholders NetIncomeLossAvailableToCommonStockholdersBasic $26.88M USD 1 Quarter
Net income available to common stockholders NetIncomeLossAvailableToCommonStockholdersDiluted $24.75M USD 1 Quarter
Net income available to common stockholders NetIncomeLossAvailableToCommonStockholdersDiluted $26.88M USD 1 Quarter
Basic earnings per share (in dollars per share) EarningsPerShareBasic $0.46 USD 1 Quarter
Basic earnings per share (in dollars per share) EarningsPerShareBasic $0.42 USD 1 Quarter
Diluted earnings per share (in dollars per share) EarningsPerShareDiluted $0.46 USD 1 Quarter
Diluted earnings per share (in dollars per share) EarningsPerShareDiluted $0.42 USD 1 Quarter
Average basic shares outstanding (in shares) WeightedAverageNumberOfSharesOutstandingBasic 58.77M shares 1 Quarter
Average basic shares outstanding (in shares) WeightedAverageNumberOfSharesOutstandingBasic 58.74M shares 1 Quarter
Average diluted shares outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 58.92M shares 1 Quarter
Average diluted shares outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 58.94M shares 1 Quarter
Cash Flow Statement 148 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $25.76M USD 1 Quarter
Net income ProfitLoss $27.90M USD 1 Quarter
Depreciation and amortization of premises and equipment DepreciationDepletionAndAmortization $3.09M USD 1 Quarter
Depreciation and amortization of premises and equipment DepreciationDepletionAndAmortization $2.76M USD 1 Quarter
Allocation of ESOP stock EmployeeBenefitsAndShareBasedCompensation $664.00K USD 1 Quarter
Allocation of ESOP stock EmployeeBenefitsAndShareBasedCompensation $671.00K USD 1 Quarter
Stock compensation ShareBasedCompensation $1.55M USD 1 Quarter
Stock compensation ShareBasedCompensation $1.83M USD 1 Quarter
Net excess tax expense on stock compensation TaxExpenseBenefitFromSharedBasedCompensation $-214.00K USD 1 Quarter
Net excess tax expense on stock compensation TaxExpenseBenefitFromSharedBasedCompensation $-250.00K USD 1 Quarter
Amortization of servicing asset ServicingAssetAtAmortizedValueAmortization1 $14.00K USD 1 Quarter
Amortization of servicing asset ServicingAssetAtAmortizedValueAmortization1 $15.00K USD 1 Quarter
Net premium amortization in excess of discount accretion on securities AccretionAmortizationOfDiscountsAndPremiumsInvestments $-1.09M USD 1 Quarter
Net premium amortization in excess of discount accretion on securities AccretionAmortizationOfDiscountsAndPremiumsInvestments $-1.86M USD 1 Quarter
Net amortization of deferred costs on borrowings AmortizationOfFinancingCostsAndDiscounts $137.00K USD 1 Quarter
Net amortization of deferred costs on borrowings AmortizationOfFinancingCostsAndDiscounts $147.00K USD 1 Quarter
Amortization of core deposit intangible AmortizationOfDeferredCharges $1.03M USD 1 Quarter
Amortization of core deposit intangible AmortizationOfDeferredCharges $1.21M USD 1 Quarter
Net accretion of purchase accounting adjustments BusinessAcquisitionsPurchasePriceAllocationYearOfAcquisitionNetEffectOnIncome $3.09M USD 1 Quarter
Net accretion of purchase accounting adjustments BusinessAcquisitionsPurchasePriceAllocationYearOfAcquisitionNetEffectOnIncome $1.27M USD 1 Quarter
Net amortization of deferred fees/costs and premiums/discounts on loans NetAccretionAmortizationOfDeferredFeesAndDiscountsOnLoans $138.00K USD 1 Quarter
Net amortization of deferred fees/costs and premiums/discounts on loans NetAccretionAmortizationOfDeferredFeesAndDiscountsOnLoans $-255.00K USD 1 Quarter
Provision for credit losses ProvisionForLoanLeaseAndOtherLosses $1.85M USD 1 Quarter
Provision for credit losses ProvisionForLoanLeaseAndOtherLosses $3.01M USD 1 Quarter
Net write down of fixed assets held-for-sale to net realizable value ImpairmentOfLongLivedAssetsToBeDisposedOf $1.40M USD 1 Quarter
Net write down of fixed assets held-for-sale to net realizable value ImpairmentOfLongLivedAssetsToBeDisposedOf - USD 1 Quarter
Net gain on sale of fixed assets GainLossOnSaleOfPropertyPlantEquipment - USD 1 Quarter
Net gain on sale of fixed assets GainLossOnSaleOfPropertyPlantEquipment $6.00K USD 1 Quarter
Net loss on sales of available-for-sale securities GainLossOnSaleOfInvestments - USD 1 Quarter
Net loss on sales of available-for-sale securities GainLossOnSaleOfInvestments $-697.00K USD 1 Quarter
Net loss on equity investments MarketableSecuritiesUnrealizedGainLoss $-6.80M USD 1 Quarter
Net loss on equity investments MarketableSecuritiesUnrealizedGainLoss $-2.79M USD 1 Quarter
Net gain on sales of loans GainLossOnSalesOfLoansNet $20.00K USD 1 Quarter
Net gain on sales of loans GainLossOnSalesOfLoansNet $177.00K USD 1 Quarter
Proceeds from sales of residential loans held for sale ProceedsFromSaleOfMortgageLoansHeldForSale $3.88M USD 1 Quarter
Proceeds from sales of residential loans held for sale ProceedsFromSaleOfMortgageLoansHeldForSale $724.00K USD 1 Quarter
Mortgage loans originated for sale PaymentsForOriginationOfMortgageLoansHeldForSale $5.06M USD 1 Quarter
Mortgage loans originated for sale PaymentsForOriginationOfMortgageLoansHeldForSale $703.00K USD 1 Quarter
Increase in value of bank owned life insurance BankOwnedLifeInsuranceIncome $2.10M USD 1 Quarter
Increase in value of bank owned life insurance BankOwnedLifeInsuranceIncome $1.28M USD 1 Quarter
Net gain on sale of assets held for sale GainLossOnSaleOfAssetsHeldForSale - USD 1 Quarter
Net gain on sale of assets held for sale GainLossOnSaleOfAssetsHeldForSale $1.20M USD 1 Quarter
Increase in interest and dividends receivable IncreaseDecreaseInInterestAndDividendsReceivable $2.64M USD 1 Quarter
Increase in interest and dividends receivable IncreaseDecreaseInInterestAndDividendsReceivable $747.00K USD 1 Quarter
Deferred tax benefit DeferredIncomeTaxExpenseBenefit $-30.00K USD 1 Quarter
Deferred tax benefit DeferredIncomeTaxExpenseBenefit $-16.00K USD 1 Quarter
Decrease (increase) in other assets IncreaseDecreaseInOtherOperatingAssets $14.78M USD 1 Quarter
Decrease (increase) in other assets IncreaseDecreaseInOtherOperatingAssets $-23.22M USD 1 Quarter
(Decrease) increase in other liabilities IncreaseDecreaseInOtherOperatingLiabilities $39.27M USD 1 Quarter
(Decrease) increase in other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-38.83M USD 1 Quarter
Total adjustments AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities $-3.52M USD 1 Quarter
Total adjustments AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities $31.89M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $24.37M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $57.64M USD 1 Quarter
Net increase in loans receivable NetIncreaseDecreaseInLoanReceivable $-331.57M USD 1 Quarter
Net increase in loans receivable NetIncreaseDecreaseInLoanReceivable $-120.50M USD 1 Quarter
Proceeds from sale of loans ProceedsFromSaleOfHighRiskLoans $12.17M USD 1 Quarter
Proceeds from sale of loans ProceedsFromSaleOfHighRiskLoans - USD 1 Quarter
Purchase of residential loan pool PaymentsToAcquireLoansReceivable - USD 1 Quarter
Purchase of residential loan pool PaymentsToAcquireLoansReceivable $161.70M USD 1 Quarter
Premiums paid on purchased loan pool PaymentsForPremiumsOnPurchasedLoanPool $495.00K USD 1 Quarter
Premiums paid on purchased loan pool PaymentsForPremiumsOnPurchasedLoanPool - USD 1 Quarter
Purchase of debt securities available-for-sale PaymentsToAcquireAvailableForSaleSecuritiesDebt $4.29M USD 1 Quarter
Purchase of debt securities available-for-sale PaymentsToAcquireAvailableForSaleSecuritiesDebt $47.82M USD 1 Quarter
Purchase of debt securities held-to-maturity PaymentsToAcquireOtherHeldToMaturitySecurities $16.40M USD 1 Quarter
Purchase of debt securities held-to-maturity PaymentsToAcquireOtherHeldToMaturitySecurities $55.44M USD 1 Quarter
Purchase of equity investments PaymentsToAcquireEquityMethodInvestments $6.74M USD 1 Quarter
Purchase of equity investments PaymentsToAcquireEquityMethodInvestments $2.29M USD 1 Quarter
Proceeds from maturities and calls of debt securities available-for-sale ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $45.00M USD 1 Quarter
Proceeds from maturities and calls of debt securities available-for-sale ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $15.50M USD 1 Quarter
Proceeds from maturities and calls of debt securities held-to-maturity ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities $6.98M USD 1 Quarter
Proceeds from maturities and calls of debt securities held-to-maturity ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities $12.30M USD 1 Quarter
Proceeds from sales of debt securities available-for-sale ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $22.86M USD 1 Quarter
Proceeds from sales of debt securities available-for-sale ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $1.30M USD 1 Quarter
Proceeds from sale of equity investments ProceedsFromSaleOfEquityMethodInvestments $4.58M USD 1 Quarter
Proceeds from sale of equity investments ProceedsFromSaleOfEquityMethodInvestments $661.00K USD 1 Quarter
Principal repayments on debt securities held-to-maturity PrincipalRepaymentsOnDebtInvestmentSecuritiesHeldToMaturity $24.27M USD 1 Quarter
Principal repayments on debt securities held-to-maturity PrincipalRepaymentsOnDebtInvestmentSecuritiesHeldToMaturity $43.21M USD 1 Quarter
Proceeds from bank owned life insurance ProceedsFromLifeInsurancePolicies $2.19M USD 1 Quarter
Proceeds from bank owned life insurance ProceedsFromLifeInsurancePolicies $230.00K USD 1 Quarter
Proceeds from the redemption of restricted equity investments ProceedsFromSaleOfFederalHomeLoanBankStock $26.59M USD 1 Quarter
Proceeds from the redemption of restricted equity investments ProceedsFromSaleOfFederalHomeLoanBankStock $58.13M USD 1 Quarter
Purchases of restricted equity investments PaymentsToAcquireFederalHomeLoanBankStock $64.60M USD 1 Quarter
Purchases of restricted equity investments PaymentsToAcquireFederalHomeLoanBankStock $30.10M USD 1 Quarter
Proceeds from sales of assets held-for-sale ProceedsFromSaleOfPropertyHeldForSale - USD 1 Quarter
Proceeds from sales of assets held-for-sale ProceedsFromSaleOfPropertyHeldForSale $4.49M USD 1 Quarter
Purchases of premises and equipment PaymentsToAcquirePropertyPlantAndEquipment $7.71M USD 1 Quarter
Purchases of premises and equipment PaymentsToAcquirePropertyPlantAndEquipment $2.15M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-424.69M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-146.65M USD 1 Quarter
Increase in deposits IncreaseDecreaseInDeposits $317.97M USD 1 Quarter
Increase in deposits IncreaseDecreaseInDeposits $323.64M USD 1 Quarter
Increase (decrease) in short-term borrowings ProceedsFromRepaymentsOfShortTermDebt $-987.00K USD 1 Quarter
Increase (decrease) in short-term borrowings ProceedsFromRepaymentsOfShortTermDebt $1.81M USD 1 Quarter
Net proceeds from FHLB advances ProceedsFromFederalHomeLoanBankBorrowings $135.40M USD 1 Quarter
Net proceeds from FHLB advances ProceedsFromFederalHomeLoanBankBorrowings $75.00M USD 1 Quarter
Repayments of other borrowings RepaymentsOfOtherDebt - USD 1 Quarter
Repayments of other borrowings RepaymentsOfOtherDebt $35.03M USD 1 Quarter
Increase in advances by borrowers for taxes and insurance IncreaseDecreaseInAdvancePaymentsByBorrowersForTaxesAndInsurance $5.09M USD 1 Quarter
Increase in advances by borrowers for taxes and insurance IncreaseDecreaseInAdvancePaymentsByBorrowersForTaxesAndInsurance $9.79M USD 1 Quarter
Exercise of stock options ProceedsFromStockOptionsExercised $608.00K USD 1 Quarter
Exercise of stock options ProceedsFromStockOptionsExercised $289.00K USD 1 Quarter
Payment of employee taxes withheld from stock awards and phantom stock units PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.44M USD 1 Quarter
Payment of employee taxes withheld from stock awards and phantom stock units PaymentsRelatedToTaxWithholdingForShareBasedCompensation $2.31M USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock $2.14M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $12.76M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $11.00M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $353.43M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $450.52M USD 1 Quarter
Net increase (decrease) in cash and due from banks and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-13.61M USD 1 Quarter
Net increase (decrease) in cash and due from banks and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $328.25M USD 1 Quarter
Cash and due from banks and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $224.78M USD Point-in-time
Cash and due from banks and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $496.23M USD Point-in-time
Cash and due from banks and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $167.99M USD Point-in-time
Cash and due from banks and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $211.18M USD Point-in-time
Cash and due from banks at beginning of period CashAndDueFromBanks $496.19M USD Point-in-time
Cash and due from banks at beginning of period CashAndDueFromBanks $204.95M USD Point-in-time
Cash and due from banks at beginning of period CashAndDueFromBanks $167.95M USD Point-in-time
Cash and due from banks at beginning of period CashAndDueFromBanks $210.92M USD Point-in-time
Restricted cash at beginning of period RestrictedCash $257.00K USD Point-in-time
Restricted cash at beginning of period RestrictedCash $40.00K USD Point-in-time
Restricted cash at beginning of period RestrictedCash $19.84M USD Point-in-time
Restricted cash at beginning of period RestrictedCash $40.00K USD Point-in-time
Cash and due from banks at end of period CashAndDueFromBanks $496.19M USD Point-in-time
Cash and due from banks at end of period CashAndDueFromBanks $204.95M USD Point-in-time
Cash and due from banks at end of period CashAndDueFromBanks $167.95M USD Point-in-time
Cash and due from banks at end of period CashAndDueFromBanks $210.92M USD Point-in-time
Restricted cash at end of period RestrictedCash $257.00K USD Point-in-time
Restricted cash at end of period RestrictedCash $40.00K USD Point-in-time
Restricted cash at end of period RestrictedCash $19.84M USD Point-in-time
Restricted cash at end of period RestrictedCash $40.00K USD Point-in-time
Cash and due from banks and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $224.78M USD Point-in-time
Cash and due from banks and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $496.23M USD Point-in-time
Cash and due from banks and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $167.99M USD Point-in-time
Cash and due from banks and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $211.18M USD Point-in-time
Interest InterestPaidNet $33.91M USD 1 Quarter
Interest InterestPaidNet $5.09M USD 1 Quarter
Income taxes IncomeTaxesPaid $1.27M USD 1 Quarter
Income taxes IncomeTaxesPaid $573.00K USD 1 Quarter
Accretion of unrealized loss on securities reclassified to held-to-maturity AccretionOfUnrealizedLossOnSecuritiesReclassifiedToHeldToMaturity $135.00K USD 1 Quarter
Accretion of unrealized loss on securities reclassified to held-to-maturity AccretionOfUnrealizedLossOnSecuritiesReclassifiedToHeldToMaturity $154.00K USD 1 Quarter
Net loan recoveries NetLoansRecoveries $47.00K USD 1 Quarter
Net loan recoveries NetLoansRecoveries $92.00K USD 1 Quarter
Transfer of loans receivable to loans held-for-sale FinancingReceivableReclassificationToHeldForSale - USD 1 Quarter
Transfer of loans receivable to loans held-for-sale FinancingReceivableReclassificationToHeldForSale $12.01M USD 1 Quarter
Transfer of premises and equipment to assets held-for-sale TransferOfPremisesandEquipmenttoAssetsHeldforSale $2.78M USD 1 Quarter
Transfer of premises and equipment to assets held-for-sale TransferOfPremisesandEquipmenttoAssetsHeldforSale - USD 1 Quarter
Stockholders Equity 26 line items
Line Item Tag Value Unit Period
Cash dividend per share (in dollars per share) CommonStockDividendsPerShareDeclared $0.17 USD 1 Quarter
Cash dividend per share (in dollars per share) CommonStockDividendsPerShareDeclared $0.20 USD 1 Quarter
Purchase of common stock (in shares) TreasuryStockSharesAcquired 100,444.00 shares 1 Quarter
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.59B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.61B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.52B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.52B USD Point-in-time
Net income ProfitLoss $25.76M USD 1 Quarter
Net income ProfitLoss $27.90M USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $-12.35M USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $6.67M USD 1 Quarter
Stock compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.83M USD 1 Quarter
Stock compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.55M USD 1 Quarter
Allocation of ESOP stock AmortizationOfESOPAward $664.00K USD 1 Quarter
Allocation of ESOP stock AmortizationOfESOPAward $671.00K USD 1 Quarter
Cash dividend DividendsCommonStockCash $11.76M USD 1 Quarter
Cash dividend DividendsCommonStockCash $9.99M USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $608.00K USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $289.00K USD 1 Quarter
Repurchase shares of common stock TreasuryStockValueAcquiredCostMethod $2.14M USD 1 Quarter
Preferred stock dividend DividendsPreferredStock $1.00M USD 1 Quarter
Preferred stock dividend DividendsPreferredStock $1.00M USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.59B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.61B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.52B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.52B USD Point-in-time
Comprehensive Income 29 line items
Line Item Tag Value Unit Period
Unrealized holding gain (loss), before adjustment, tax expense (benefit) OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax $1.77M USD 1 Quarter
Net income ProfitLoss $25.76M USD 1 Quarter
Net income ProfitLoss $27.90M USD 1 Quarter
Unrealized holding gain (loss), before adjustment, tax expense (benefit) OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax $-3.93M USD 1 Quarter
Accretion of unrealized loss on debt securities, tax expense OtherComprehensiveIncomeAccretionOfFairValueAdjustmentOnHeldToMaturitySecuritiesTax $-65.00K USD 1 Quarter
Accretion of unrealized loss on debt securities, tax expense OtherComprehensiveIncomeAccretionOfFairValueAdjustmentOnHeldToMaturitySecuritiesTax $-56.00K USD 1 Quarter
Net unrealized gain (loss) on debt securities (net of tax expense of $1,766 in 2023 and tax benefit of $3,928 in 2022) OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $5.55M USD 1 Quarter
Net unrealized gain (loss) on debt securities (net of tax expense of $1,766 in 2023 and tax benefit of $3,928 in 2022) OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-12.37M USD 1 Quarter
Other comprehensive income (loss), cash flow hedge, gain (loss), after reclassification, tax expense OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax $131.00K USD 1 Quarter
Reclassification adjustment from AOCI for sale of securities, tax expense (benefit) OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax $-21.00K USD 1 Quarter
Accretion of unrealized loss on debt securities reclassified to held-to-maturity (net of tax expense of $56 in 2023 and $65 in 2022) OtherComprehensiveIncomeLossTransfersFromHeldToMaturityToAvailableForSaleSecuritiesNetOfTax $79.00K USD 1 Quarter
Reclassification adjustment from AOCI for sale of securities, tax expense (benefit) OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax $201.00K USD 1 Quarter
Accretion of unrealized loss on debt securities reclassified to held-to-maturity (net of tax expense of $56 in 2023 and $65 in 2022) OtherComprehensiveIncomeLossTransfersFromHeldToMaturityToAvailableForSaleSecuritiesNetOfTax $89.00K USD 1 Quarter
Unrealized gain on derivative hedges (net of tax expense of $131 in 2023) OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $412.00K USD 1 Quarter
Unrealized gain on derivative hedges (net of tax expense of $131 in 2023) OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax - USD 1 Quarter
Reclassification adjustment for losses included in net income (net of tax expense of $201 in 2023 and benefit of $21 in 2022) OciDebtSecuritiesAvailableForSaleTransferToHeldToMaturityAdjustmentFromAociForAmortizationOfGainLossAfterTax $-629.00K USD 1 Quarter
Reclassification adjustment for losses included in net income (net of tax expense of $201 in 2023 and benefit of $21 in 2022) OciDebtSecuritiesAvailableForSaleTransferToHeldToMaturityAdjustmentFromAociForAmortizationOfGainLossAfterTax $66.00K USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $-12.35M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $6.67M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $34.57M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $13.41M USD 1 Quarter
Less: comprehensive income attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest - USD 1 Quarter
Less: comprehensive income attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $16.00K USD 1 Quarter
Comprehensive income attributable to OceanFirst Financial Corp. ComprehensiveIncomeNetOfTax $13.41M USD 1 Quarter
Comprehensive income attributable to OceanFirst Financial Corp. ComprehensiveIncomeNetOfTax $34.55M USD 1 Quarter
Less: Dividends on preferred shares PreferredStockDividendsAndOtherAdjustments $1.00M USD 1 Quarter
Less: Dividends on preferred shares PreferredStockDividendsAndOtherAdjustments $1.00M USD 1 Quarter
Total comprehensive income available to common stockholders ComprehensiveIncomeLossAvailableForCommonStockholders $33.55M USD 1 Quarter
Total comprehensive income available to common stockholders ComprehensiveIncomeLossAvailableForCommonStockholders $12.41M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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