OceanFirst Financial Corp. (OCFC)

OceanFirst Financial Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	541.14	545.24	521.87	390.39	315.24	349.22
Interest Income on Investments	93.13	96.93	86.11	40.79	26.86	30.39
Total Interest Income	634.27	642.17	607.97	431.18	342.09	379.61
Interest Paid on Deposits	233.32	242.13	172.02	31.02	25.21	48.29
Interest Paid on Borrowings	66.49	66.01	66.23	22.68	11.54	18.37
Total Interest Expense	299.81	308.14	238.24	53.7	36.75	66.66
Net Interest Income	334.46	334.04	369.73	377.48	305.34	312.95
Net Interest Income Growth (YoY)	-6.35%	-9.65%	-2.05%	23.63%	-2.43%	22.26%
Trust Income	1.63	1.75	2.53	2.39	2.34	2.05
Gain (Loss) on Sale of Assets	2.29	3.46	-	-	-	-
Gain (Loss) on Sale of Investments	2.51	4.23	-3.73	9.69	7.15	21.21
Other Non-Interest Income	38.61	37.12	34.4	46.62	39.28	42.35
Total Non-Interest Income	47.85	48.89	33.62	59.09	51.93	73.93
Non-Interest Income Growth (YoY)	9.16%	45.39%	-43.10%	13.79%	-29.75%	75.33%
Revenues Before Loan Losses	382.32	382.92	403.36	436.57	357.27	386.88
Provision for Loan Losses	12.44	7.69	17.68	7.77	-11.83	59.4
Revenue	369.88	375.23	385.68	428.8	369.1	327.47
Revenue Growth (YoY)	-4.11%	-2.71%	-10.06%	16.18%	12.71%	10.45%
Salaries and Employee Benefits	135.12	131.14	127.88	122.77	112.4	108.76
Occupancy Expenses	16.23	16.23	16.55	15.82	14.55	14.34
Federal Deposit Insurance	11.22	10.96	11.16	7.36	6.16	4.87
Amortization of Goodwill & Intangibles	3.43	3.33	3.98	4.72	5.45	6.19
Selling, General & Administrative	55.55	54.96	64.58	58.17	53.77	52.43
Other Non-Interest Expense	28.59	27.48	24.67	22.6	20.69	36.27
Total Non-Interest Expense	250.14	244.1	248.82	231.43	213.02	222.86
EBT Excluding Unusual Items	119.74	131.14	136.86	197.37	156.08	104.61
Other Unusual Items	0.42	-	-	-	-	-
Pretax Income	119.68	130.66	136.77	193.92	142.24	81.04
Income Tax Expense	26.44	30.27	32.7	46.57	32.17	17.73
Earnings From Continuing Operations	93.24	100.39	104.07	147.36	110.08	63.31
Minority Interest in Earnings	-0.34	-0.33	-0.04	-0.75	-	-
Net Income	92.91	100.07	104.03	146.6	110.08	63.31
Preferred Dividends & Other Adjustments	4.02	4.02	4.02	4.02	4.02	2.1
Net Income to Common	88.89	96.05	100.01	142.59	106.06	61.21
Net Income Growth	-11.36%	-3.81%	-29.04%	33.18%	73.87%	-28.52%
Basic Shares Outstanding	58	58	59	59	59	60
Diluted Shares Outstanding	58	58	59	59	60	60
Shares Change (YoY)	-1.40%	-1.12%	0.13%	-1.29%	-0.70%	18.38%
EPS (Basic)	1.53	1.65	1.70	2.43	1.79	1.02
EPS (Diluted)	1.53	1.65	1.70	2.42	1.78	1.02
EPS Growth	-10.52%	-2.89%	-29.89%	35.95%	74.51%	-41.71%
Dividend Per Share	0.800	0.800	0.800	0.770	0.680	0.680
Dividend Growth	-	-	3.90%	13.23%	-	-
Effective Tax Rate	22.09%	23.16%	23.91%	24.01%	22.61%	21.88%

Updated Apr 24, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q