OCEANFIRST FINANCIAL CORP (OCFC)
2025-06-30 | 2025-03-31 | 2024-09-30 | 2024-06-30 | |
|---|---|---|---|---|
| Revenue-Deposit Account | 4,969,000 | - | - | - |
| Revenue-Investment Advisory Management And Administrative Service | 374,000 | - | - | - |
| Net loss from other real estate operations | -260,000 | -16,000 | - | - |
| Other | 1,373,000 | 1,153,000 | 2,471,000 | 706,000 |
| Net gain on sales of loans | 1,177,000 | 858,000 | 505,000 | 420,000 |
| Commercial loan swap income | 207,000 | 620,000 | 414,000 | 241,000 |
| Net gain on equity investments | 488,000 | 205,000 | 1,420,000 | 887,000 |
| Income from bank owned life insurance | 1,786,000 | 1,852,000 | 1,779,000 | 1,726,000 |
| Bankcard services revenue | 1,619,000 | 1,463,000 | 1,615,000 | 1,571,000 |
| Revenue | - | 5,118,000 | 6,480,000 | 5,434,000 |
| Total other income | 11,733,000 | 11,253,000 | 14,684,000 | 10,985,000 |
| Provision for credit losses | 3,039,000 | 5,340,000 | 517,000 | 3,114,000 |
| Deposits | 52,273,000 | 51,046,000 | 62,318,000 | 60,071,000 |
| Borrowed funds | 14,916,000 | 16,005,000 | 16,988,000 | 17,092,000 |
| Total interest expense | 67,189,000 | 67,051,000 | 79,306,000 | 77,163,000 |
| Debt securities | 15,950,000 | 17,270,000 | 19,449,000 | 19,039,000 |
| Loans | 135,478,000 | 133,019,000 | 136,635,000 | 136,049,000 |
| Equity investments and other | 3,397,000 | 3,414,000 | 5,441,000 | 4,338,000 |
| Total interest income | 154,825,000 | 153,703,000 | 161,525,000 | 159,426,000 |
| Net interest income | 87,636,000 | 86,652,000 | 82,219,000 | 82,263,000 |
| Net interest income after provision for credit losses | 84,597,000 | 81,312,000 | 81,702,000 | 79,149,000 |
| Branch consolidation expense, net | - | - | - | - |
| Merger related expenses | - | - | 1,669,000 | - |
| Amortization of core deposit intangible | - | - | 803,000 | 810,000 |
| Professional fees | 4,336,000 | 2,425,000 | 1,970,000 | 2,161,000 |
| Other operating expenses | 7,264,000 | 5,863,000 | 6,171,000 | 5,317,000 |
| Occupancy | 5,454,000 | 5,497,000 | 5,157,000 | 5,175,000 |
| Marketing | 1,541,000 | 1,108,000 | 1,385,000 | 1,175,000 |
| Compensation and employee benefits | 40,242,000 | 36,740,000 | 35,844,000 | 33,136,000 |
| Data processing | 6,808,000 | 6,647,000 | 5,940,000 | 6,018,000 |
| Federal deposit insurance and regulatory assessments | 2,898,000 | 2,983,000 | 2,618,000 | 2,685,000 |
| Equipment | 869,000 | 921,000 | 1,026,000 | 1,068,000 |
| Amortization of intangibles | 906,000 | 940,000 | - | - |
| Check card processing | 1,156,000 | 1,170,000 | 1,153,000 | 1,075,000 |
| Total operating expenses | 71,474,000 | 64,294,000 | 63,736,000 | 58,620,000 |
| Income before provision for income taxes | 24,856,000 | 28,271,000 | 32,650,000 | 31,514,000 |
| Provision for income taxes | 5,771,000 | 6,808,000 | 7,464,000 | 7,082,000 |
| Net income | 19,085,000 | 21,463,000 | 25,186,000 | 24,432,000 |
| Net income (loss) attributable to non-controlling interest | 39,000 | -46,000 | 70,000 | 59,000 |
| Net income attributable to oceanfirst financial corp | 19,046,000 | 21,509,000 | 25,116,000 | 24,373,000 |
| Loss on redemption of preferred stock | 1,842,000 | - | - | - |
| Dividends on preferred shares | 1,004,000 | 1,004,000 | 1,004,000 | 1,004,000 |
| Net income available to common stockholders, basic | 16,200,000 | 20,505,000 | 24,112,000 | 23,369,000 |
| Average basic shares outstanding (in shares) | 57,738,000 | 58,102,000 | 58,065,000 | 58,356,000 |
| Average diluted shares outstanding (in shares) | 57,740,000 | 58,111,000 | 58,068,000 | 58,357,000 |
| Basic earnings per share (in dollars per share) | 0.28 | 0.35 | 0.42 | 0.4 |
| Diluted earnings per share (in dollars per share) | 0.28 | 0.35 | 0.42 | 0.4 |