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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 408,882 $ 167,946
Debt securities available-for-sale, at estimated fair value 453,208 457,648
Debt securities held-to-maturity, net of allowance for securities credit losses of $932 at September 30, 2023 and $1,128 at December 31, 2022 (estimated fair value of $1,047,342 at September 30, 2023 and $1,110,041 at December 31, 2022) 1,189,339 1,221,138
Equity investments 97,908 102,037
Restricted equity investments, at cost 82,484 109,278
Loans receivable, net of allowance for loan credit losses of $63,877 at September 30, 2023 and $56,824 at December 31, 2022 10,068,156 9,868,718
Loans held-for-sale 0 690
Interest and dividends receivable 50,030 44,704
Premises and equipment, net 122,646 126,705
Bank owned life insurance 265,071 261,603
Assets held for sale 3,004 2,719
Goodwill 506,146 506,146
Core deposit intangible 10,489 13,497
Other assets 240,820 221,067
Total assets 13,498,183 13,103,896
Liabilities and Stockholders’ Equity    
Deposits 10,533,929 9,675,206
Federal Home Loan Bank (“FHLB”) advances 606,056 1,211,166
Securities sold under agreements to repurchase with customers 82,981 69,097
Other borrowings 196,183 195,403
Advances by borrowers for taxes and insurance 29,696 21,405
Other liabilities 411,734 346,155
Total liabilities 11,860,579 11,518,432
Stockholders’ equity:    
Preferred stock, $0.01 par value, $1,000 liquidation preference, 5,000,000 shares authorized, and 57,370 shares issued at both September 30, 2023 and December 31, 2022 1 1
Common stock, $0.01 par value, 150,000,000 shares authorized, 62,156,581 and 61,877,686 shares issued at September 30, 2023 and December 31, 2022, respectively; and 59,421,498 and 59,144,128 shares outstanding at September 30, 2023 and December 31, 2022, respectively 613 612
Additional paid-in capital 1,160,869 1,154,821
Retained earnings 577,708 540,507
Accumulated other comprehensive loss (28,811) (35,982)
Less: Unallocated common stock held by Employee Stock Ownership Plan ("ESOP") (4,383) (6,191)
Treasury stock, 2,735,083 and 2,733,558 shares at September 30, 2023 and December 31, 2022 (69,106) (69,106)
OceanFirst Financial Corp. stockholders’ equity 1,636,891 1,584,662
Non-controlling interest 713 802
Total stockholders’ equity 1,637,604 1,585,464
Total liabilities and stockholders’ equity $ 13,498,183 $ 13,103,896