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Regulatory Matters | 12 Months Ended
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Dec. 31, 2018
Banking and Thrift [Abstract] |
Regulatory Matters | Regulatory Matters Applicable regulations require the Bank to maintain minimum levels of regulatory capital. Under the regulations in effect at December 31, 2018, the Bank was required to maintain a minimum ratio of Tier 1 capital to total adjusted assets of 4.0%; a minimum ratio of common equity T ier 1 capital to risk-weighted assets of 6.375%; a minimum ratio of Tier 1 capital to risk weighted assets of 7.875%; and, a minimum ratio of total (core and supplementary) capital to risk-weighted assets of 9.875%. These ratios include the impact of the required capital conservation buffer. With its conversion to a bank holding company on January 31, 2018, the Company became subject to substantially similar consolidated capital requirements imposed by FRB regulation. Under the regulatory framework for prompt corrective action, Federal regulators are required to take certain supervisory actions (and may take additional discretionary actions) with respect to an undercapitalized institution. Such actions could have a direct material effect on the institution’s financial statements. The regulations establish a framework for the classification of banking institutions into five categories: well-capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized. Generally, an institution is considered well-capitalized if it has a Tier 1 capital ratio of 5.0%; a common equity Tier 1 risk-based ratio of at least 6.5%; a Tier 1 risk-based ratio of at least 8.0%; and a total risk-based capital ratio of at least 10.0%. At December 31, 2018 and 2017, the Company and the Bank exceeded all regulatory capital requirements currently applicable. The following is a summary of the Bank and the Company’s regulatory capital amounts and ratios as of December 31, 2018 and 2017 compared to the regulatory minimum capital adequacy requirements and the regulatory requirements for classification as a well-capitalized institution then in effect (dollars in thousands):
As of December 31, 2018 | Actual |  | For capital adequacy purposes |  | To be well-capitalized under prompt corrective action
Bank: | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
Tier 1 capital (to average assets) | $ | 712,900 |  |  | 10.01 | % |  | $ | 284,772 |  |  | 4.000 | % |  | $ | 355,965 |  |  | 5.00 | %
Common equity Tier 1 (to risk-weighted assets) | 712,900 |  |  | 13.39 |  |  | 339,513 |  |  | 6.375 |  | (1) | 346,170 |  |  | 6.50 |
Tier 1 capital (to risk-weighted assets) | 712,900 |  |  | 13.39 |  |  | 419,398 |  |  | 7.875 |  | (1) | 426,056 |  |  | 8.00 |
Total capital (to risk-weighted assets) | 730,484 |  |  | 13.72 |  |  | 525,912 |  |  | 9.875 |  | (1) | 532,570 |  |  | 10.00 |
OceanFirst Financial Corp: |  |  |  |  |  |  |  |  |  |  |
Tier 1 capital (to average assets) | $ | 709,972 |  |  | 9.96 | % |  | $ | 285,199 |  |  | 4.000 | % |  | N/A |  |  | N/A |
Common equity Tier 1 (to risk-weighted assets) | 647,773 |  |  | 12.15 |  |  | 339,791 |  |  | 6.375 |  | (1) | N/A |  |  | N/A |
Tier 1 capital (to risk-weighted assets) | 709,972 |  |  | 13.32 |  |  | 419,742 |  |  | 7.875 |  | (1) | N/A |  |  | N/A |
Total capital (to risk-weighted assets) | 762,556 |  |  | 14.31 |  |  | 526,343 |  |  | 9.875 |  | (1) | N/A |  |  | N/A |
As of December 31, 2017 | Actual |  | For capital adequacy purposes |  | To be well-capitalized under prompt corrective action
Bank: | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
Tier 1 capital (to average assets) | $ | 459,031 |  |  | 8.75 | % |  | $ | 209,760 |  |  | 4.000 | % |  | $ | 262,200 |  |  | 5.00 | %
Common equity Tier 1 (to risk-weighted assets) | 459,031 |  |  | 12.41 |  |  | 212,705 |  |  | 5.750 |  | (2) | 240,450 |  |  | 6.50 |
Tier 1 capital (to risk-weighted assets) | 459,031 |  |  | 12.41 |  |  | 268,194 |  |  | 7.250 |  | (2) | 295,938 |  |  | 8.00 |
Total capital (to risk-weighted assets) | 475,379 |  |  | 12.85 |  |  | 342,178 |  |  | 9.250 |  | (2) | 369,923 |  |  | 10.00 |
OceanFirst Financial Corp: |  |  |  |  |  |  |  |  |  |  |
Tier 1 capital (to average assets) | $ | 465,554 |  |  | 8.87 | % |  | $ | 209,943 |  |  | 4.000 | % |  | N/A |  |  | N/A |
Common equity Tier 1 (to risk-weighted assets) | 449,991 |  |  | 12.15 |  |  | 212,907 |  |  | 5.750 |  | (2) | N/A |  |  | N/A |
Tier 1 capital (to risk-weighted assets) | 465,554 |  |  | 12.57 |  |  | 268,448 |  |  | 7.250 |  | (2) | N/A |  |  | N/A |
Total capital (to risk-weighted assets) | 516,902 |  |  | 13.96 |  |  | 342,502 |  |  | 9.250 |  | (2) | N/A |  |  | N/A |
(1) | Includes the Capital Conservation Buffer of 1.875%.
(2) | Includes the Capital Conservation Buffer of 1.250%.
The Bank satisfies the criteria to be “well-capitalized” under the Prompt Corrective Action Regulations. The capital conservation buffer requirement is being phased in over four years beginning January 1, 2016. The capital conservation buffer requirement is being phased in incrementally, and started at 0.625% on January 1, 2016, and increased to 1.25% on January 1, 2017, 1.875% on January 1, 2018, and 2.50% on January 1, 2019, when the full capital conservation buffer requirement became effective. Capital distributions and certain discretionary bonus payments are limited if the capital conservation buffer is not maintained. Applicable regulations also impose limitations upon capital distributions by the Company, such as dividends and payments to repurchase or otherwise acquire shares. The Company may not declare or pay cash dividends on or repurchase any of its shares of common stock if the effect thereof would cause stockholders’ equity to be reduced below applicable regulatory capital minimum requirements or if such declaration and payment would otherwise violate regulatory requirements.

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- Definition The entire disclosure for banks, savings institutions, and credit unions, for regulatory capital requirements imposed by the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) or for any state imposed capital requirements, as applicable. The disclosure may include (1) a description of regulatory capital requirements (a) for capital adequacy purposes and (b) established by the prompt corrective action provisions of Section 38 of the Federal Depository Insurance Act; (2) the actual or possible material effects of noncompliance with such requirements; (3) whether the entity is in compliance with the regulatory capital requirements including (a) required and actual ratios and amounts of Tier 1 leverage, Tier 1 risk-based, and total risk-based capital, tangible capital (for savings institutions), and Tier 3 capital for market risk (for certain banks and bank holding companies), (b) factors that may significantly affect capital adequacy; (4) the prompt corrective action category in which the entity was classified as of its most recent notification; (5) whether management believes any conditions or events since notification have changed the entity's category. Also may include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1C -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958572-112826 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958573-112826 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958570-112826 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958569-112826 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1G -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958577-112826 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958575-112826 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1E -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958574-112826 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958568-112826 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -URI http://asc.fasb.org/extlink&oid=84167132&loc=d3e65071-112826 + Details
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