v3.25.2
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 170,599 $ 123,615
Debt securities available-for-sale, at estimated fair value 735,561 827,500
Debt securities held-to-maturity, net of allowance for securities credit losses of $809 at June 30, 2025 and $967 at December 31, 2024 (estimated fair value of $896,090 at June 30, 2025 and $952,917 at December 31, 2024) 968,969 1,045,875
Equity investments 87,808 84,104
Restricted equity investments, at cost 106,538 108,634
Loans receivable, net of allowance for loan credit losses of $79,266 at June 30, 2025 and $73,607 at December 31, 2024 10,119,781 10,055,429
Loans held-for-sale 15,744 21,211
Interest and dividends receivable 44,032 45,914
Other real estate owned 7,680 1,811
Premises and equipment, net 113,474 115,256
Bank owned life insurance 271,184 270,208
Goodwill 523,308 523,308
Intangibles 10,834 12,680
Other assets 152,335 185,702
Total assets 13,327,847 13,421,247
Liabilities and Stockholders’ Equity    
Deposits 10,232,442 10,066,342
Federal Home Loan Bank (“FHLB”) advances 938,687 1,072,611
Securities sold under agreements to repurchase with customers 61,490 60,567
Other borrowings 198,019 197,546
Advances by borrowers for taxes and insurance 18,759 23,031
Other liabilities 234,770 298,393
Total liabilities 11,684,167 11,718,490
Stockholders’ equity:    
Preferred stock, $0.01 par value, $1,000 liquidation preference, 5,000,000 shares authorized, 0 and 57,370 shares issued at June 30, 2025 and December 31, 2024, respectively. 0 1
Common stock, $0.01 par value, 150,000,000 shares authorized, 62,904,241 and 62,182,767 shares issued at June 30, 2025 and December 31, 2024, respectively; and 57,383,975 and 58,554,871 shares outstanding at June 30, 2025 and December 31, 2024, respectively 625 613
Additional paid-in capital 1,115,441 1,168,321
Retained earnings 655,095 641,727
Accumulated other comprehensive loss (11,437) (15,853)
Less: Unallocated common stock held by Employee Stock Ownership Plan ("ESOP") (1,922) (2,542)
Treasury stock, 5,520,266 and 4,118,321 shares at June 30, 2025 and December 31, 2024, respectively (114,956) (90,617)
OceanFirst Financial Corp. stockholders’ equity 1,642,846 1,701,650
Non-controlling interest 834 1,107
Total stockholders’ equity 1,643,680 1,702,757
Total liabilities and stockholders’ equity $ 13,327,847 $ 13,421,247
Preferred stock, shares issued (in shares) 0 57,370