OceanFirst Financial Corp. (OCFC)

OceanFirst Financial Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	545.24	521.87	390.39	315.24	349.22
Interest Income on Investments	96.93	86.11	40.79	26.86	30.39
Total Interest Income	642.17	607.97	431.18	342.09	379.61
Interest Paid on Deposits	242.13	172.02	31.02	25.21	48.29
Interest Paid on Borrowings	66.01	66.23	22.68	11.54	18.37
Total Interest Expense	308.14	238.24	53.7	36.75	66.66
Net Interest Income	334.04	369.73	377.48	305.34	312.95
Net Interest Income Growth (YoY)	-9.65%	-2.05%	23.63%	-2.43%	22.26%
Trust Income	1.75	2.53	2.39	2.34	2.05
Gain (Loss) on Sale of Assets	3.46	-	-	-	-
Gain (Loss) on Sale of Investments	4.23	-3.73	9.69	7.15	21.21
Other Non-Interest Income	37.12	34.4	46.62	39.28	42.35
Total Non-Interest Income	48.89	33.62	59.09	51.93	73.93
Non-Interest Income Growth (YoY)	45.39%	-43.10%	13.79%	-29.75%	75.33%
Revenues Before Loan Losses	382.92	403.36	436.57	357.27	386.88
Provision for Loan Losses	7.69	17.68	7.77	-11.83	59.4
Revenue	375.23	385.68	428.8	369.1	327.47
Revenue Growth (YoY)	-2.71%	-10.06%	16.17%	12.71%	10.45%
Salaries and Employee Benefits	138.34	127.88	122.77	112.4	108.76
Occupancy Expenses	-	16.55	15.82	14.55	14.34
Federal Deposit Insurance	10.96	11.16	7.36	6.16	4.87
Amortization of Goodwill & Intangibles	3.33	3.98	4.72	5.45	6.19
Selling, General & Administrative	63.99	64.58	58.17	53.77	52.43
Other Non-Interest Expense	27.48	24.67	22.6	20.69	36.27
Total Non-Interest Expense	244.1	248.82	231.43	213.02	222.86
EBT Excluding Unusual Items	131.14	136.86	197.37	156.08	104.61
Pretax Income	130.66	136.77	193.92	142.24	81.04
Income Tax Expense	30.27	32.7	46.57	32.17	17.73
Earnings From Continuing Operations	100.39	104.07	147.36	110.08	63.31
Minority Interest in Earnings	-0.33	-0.04	-0.75	-	-
Net Income	100.07	104.03	146.6	110.08	63.31
Preferred Dividends & Other Adjustments	4.02	4.02	4.02	4.02	2.1
Net Income to Common	96.05	100.01	142.59	106.06	61.21
Net Income Growth	-3.81%	-29.04%	33.18%	73.87%	-28.52%
Basic Shares Outstanding	58	59	59	59	60
Diluted Shares Outstanding	58	59	59	60	60
Shares Change (YoY)	-1.12%	0.13%	-1.29%	-0.70%	18.38%
EPS (Basic)	1.65	1.70	2.43	1.79	1.02
EPS (Diluted)	1.65	1.70	2.42	1.78	1.02
EPS Growth	-2.89%	-29.89%	35.96%	74.51%	-41.71%
Dividend Per Share	0.800	0.800	0.770	0.680	0.680
Dividend Growth	0%	3.90%	13.24%	0%	0%
Effective Tax Rate	23.16%	23.91%	24.01%	22.61%	21.88%

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