OceanFirst Financial Corp. (OCFC)

OceanFirst Financial Income Statement

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

Year Ending	TTM	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	544.21	521.87	390.39	315.24	349.22	279.93
Interest Income on Investments	95.66	86.11	40.79	26.86	30.39	28.86
Total Interest Income	639.87	607.97	431.18	342.09	379.61	308.79
Interest Paid on Deposits	232.68	172.02	31.02	25.21	48.29	38.43
Interest Paid on Borrowings	59.89	66.23	22.68	11.54	18.37	14.39
Total Interest Expense	292.57	238.24	53.7	36.75	66.66	52.82
Net Interest Income	347.31	369.73	377.48	305.34	312.95	255.97
Net Interest Income Growth (YoY)	-11.71%	-2.05%	23.63%	-2.43%	22.26%	6.43%
Trust Income	2.22	2.53	2.39	2.34	2.05	2.1
Gain (Loss) on Sale of Investments	6.44	-3.73	9.69	7.15	21.21	0.27
Other Non-Interest Income	36.09	34.4	46.62	39.28	42.35	40.11
Total Non-Interest Income	45.89	33.62	59.09	51.93	73.93	42.17
Non-Interest Income Growth (YoY)	-14.54%	-43.10%	13.79%	-29.75%	75.33%	21.07%
Revenues Before Loan Losses	393.2	403.36	436.57	357.27	386.88	298.14
Provision for Loan Losses	17.14	17.68	7.77	-11.83	59.4	1.64
Revenue	376.06	385.68	428.8	369.1	327.47	296.5
Revenue Growth (YoY)	-14.17%	-10.06%	16.17%	12.71%	10.45%	9.07%
Salaries and Employee Benefits	125.63	127.88	122.77	112.4	108.76	83.18
Federal Deposit Insurance	12.76	11.16	7.36	6.16	4.87	2.23
Amortization of Goodwill & Intangibles	3.62	3.98	4.72	5.45	6.19	4.03
Selling, General & Administrative	58.93	64.58	58.17	53.77	52.43	42.68
Other Non-Interest Expense	24.47	24.67	22.6	20.69	36.27	20.92
Total Non-Interest Expense	241.97	248.82	231.43	213.02	222.86	166.29
EBT Excluding Unusual Items	134.1	136.86	197.37	156.08	104.61	130.21
Other Unusual Items	-	-	-	-	-	-3.3
Pretax Income	134.1	136.77	193.92	142.24	81.04	107.36
Income Tax Expense	32.77	32.7	46.57	32.17	17.73	18.78
Earnings From Continuing Operations	101.33	104.07	147.36	110.08	63.31	88.57
Minority Interest	0.06	-0.04	-0.75	-	-	-
Net Income to Common	97.37	100.01	142.59	106.06	61.21	88.57
Basic Shares Outstanding	59	59	59	59	60	50
Diluted Shares Outstanding	59	59	59	60	60	51
Shares Change (YoY)	-0.36%	0.13%	-1.29%	-0.70%	18.38%	6.48%
EPS (Basic)	1.66	1.70	2.43	1.79	1.02	1.77
EPS (Diluted)	1.66	1.70	2.42	1.78	1.02	1.75
EPS Growth	-32.01%	-29.89%	35.96%	74.51%	-41.71%	15.89%
Effective Tax Rate	24.44%	23.91%	24.01%	22.61%	21.88%	17.50%
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%

Source: S&P Capital IQ. Banks template.