OceanFirst Financial Corp. (OCFC)

OceanFirst Financial Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	546.92	521.87	390.39	315.24	349.22	279.93
Interest Income on Investments	96.07	86.11	40.79	26.86	30.39	28.86
Total Interest Income	642.99	607.97	431.18	342.09	379.61	308.79
Interest Paid on Deposits	241.71	172.02	31.02	25.21	48.29	38.43
Interest Paid on Borrowings	62.75	66.23	22.68	11.54	18.37	14.39
Total Interest Expense	304.46	238.24	53.7	36.75	66.66	52.82
Net Interest Income	338.53	369.73	377.48	305.34	312.95	255.97
Net Interest Income Growth (YoY)	-12.84%	-2.05%	23.63%	-2.43%	22.26%	6.43%
Trust Income	1.94	2.53	2.39	2.34	2.05	2.1
Gain (Loss) on Sale of Investments	6.41	-3.73	9.69	7.15	21.21	0.27
Other Non-Interest Income	39.88	34.4	46.62	39.28	42.35	40.11
Total Non-Interest Income	49.82	33.62	59.09	51.93	73.93	42.17
Non-Interest Income Growth (YoY)	1.02%	-43.10%	13.79%	-29.75%	75.33%	21.07%
Revenues Before Loan Losses	388.35	403.36	436.57	357.27	386.88	298.14
Provision for Loan Losses	7.38	17.68	7.77	-11.83	59.4	1.64
Revenue	380.97	385.68	428.8	369.1	327.47	296.5
Revenue Growth (YoY)	-9.19%	-10.06%	16.17%	12.71%	10.45%	9.07%
Salaries and Employee Benefits	127.17	127.88	122.77	112.4	108.76	83.18
Occupancy Expenses	16.15	16.55	15.82	14.55	14.34	13.26
Federal Deposit Insurance	12.82	11.16	7.36	6.16	4.87	2.23
Amortization of Goodwill & Intangibles	3.43	3.98	4.72	5.45	6.19	4.03
Selling, General & Administrative	54.42	64.58	58.17	53.77	52.43	42.68
Other Non-Interest Expense	25.55	24.67	22.6	20.69	36.27	20.92
Total Non-Interest Expense	239.55	248.82	231.43	213.02	222.86	166.29
EBT Excluding Unusual Items	141.42	136.86	197.37	156.08	104.61	130.21
Other Unusual Items	-	-	-	-	-	-3.3
Pretax Income	139.75	136.77	193.92	142.24	81.04	107.36
Income Tax Expense	33.77	32.7	46.57	32.17	17.73	18.78
Earnings From Continuing Operations	105.98	104.07	147.36	110.08	63.31	88.57
Minority Interest in Earnings	-0.14	-0.04	-0.75	-	-	-
Net Income	105.84	104.03	146.6	110.08	63.31	88.57
Preferred Dividends & Other Adjustments	4.02	4.02	4.02	4.02	2.1	-
Net Income to Common	101.82	100.01	142.59	106.06	61.21	88.57
Net Income Growth	-18.35%	-29.04%	33.18%	73.87%	-28.52%	23.14%
Basic Shares Outstanding	58	59	59	59	60	50
Diluted Shares Outstanding	58	59	59	60	60	51
Shares Change (YoY)	-0.88%	0.13%	-1.29%	-0.70%	18.38%	6.48%
EPS (Basic)	1.74	1.70	2.43	1.79	1.02	1.77
EPS (Diluted)	1.74	1.70	2.42	1.78	1.02	1.75
EPS Growth	-18.21%	-29.89%	35.96%	74.51%	-41.71%	15.89%
Dividend Per Share	0.800	0.800	0.770	0.680	0.680	0.680
Dividend Growth	0%	3.90%	13.24%	0%	0%	6.25%
Effective Tax Rate	24.17%	23.91%	24.01%	22.61%	21.88%	17.50%

Source: S&P Capital IQ. Banks template. Financial Sources.