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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income:        
Loans $ 133,931 $ 100,141 $ 384,755 $ 273,340
Debt securities 15,223 8,479 43,829 23,456
Equity investments and other 9,256 1,879 18,956 4,102
Total interest income 158,410 110,499 447,540 300,898
Interest expense:        
Deposits 53,287 9,238 112,551 17,596
Borrowed funds 14,127 5,296 53,082 12,313
Total interest expense 67,414 14,534 165,633 29,909
Net interest income 90,996 95,965 281,907 270,989
Provision for credit losses 10,283 1,016 14,525 4,121
Net interest income after provision for credit losses 80,713 94,949 267,382 266,868
Other income:        
Bankcard services revenue 1,507 1,509 4,381 7,782
Net gain on sales of loans 66 168 119 348
Net gain (loss) on equity investments 1,452 3,362 (5,908) (7,502)
Net gain from other real estate operations 0 0 0 48
Income from bank owned life insurance 1,390 1,356 3,853 4,881
Commercial loan swap income 11 1,471 712 6,546
Other 496 396 748 579
Total other income 10,762 15,150 21,763 31,543
Operating expenses:        
Compensation and employee benefits 35,534 34,124 103,676 97,972
Occupancy 5,466 5,288 15,970 15,790
Equipment 1,172 1,150 3,478 3,856
Marketing 1,183 655 3,126 2,242
Federal deposit insurance and regulatory assessments 2,557 1,757 6,771 5,435
Data processing 6,086 6,560 18,405 18,466
Check card processing 1,154 1,231 3,649 3,728
Professional fees 5,258 2,502 15,439 8,296
Amortization of core deposit intangible 987 1,171 3,008 3,559
Branch consolidation (benefit) expense, net 0 (346) 70 602
Merger related expenses 0 298 22 2,459
Other operating expense 5,087 4,607 15,109 12,748
Total operating expenses 64,484 58,997 188,723 175,153
Income before provision for income taxes 26,991 51,102 100,422 123,258
Provision for income taxes 6,459 12,298 24,109 29,212
Net income 20,532 38,804 76,313 94,046
Net (loss) income attributable to non-controlling interest (135) 193 (34) 715
Net income attributable to OceanFirst Financial Corp. 20,667 38,611 76,347 93,331
Dividends on preferred shares 1,004 1,004 3,012 3,012
Net income available to common stockholders, basic 19,663 37,607 73,335 90,319
Net income available to common stockholders, diluted $ 19,663 $ 37,607 $ 73,335 $ 90,319
Basic earnings per share (in dollars per share) $ 0.33 $ 0.64 $ 1.24 $ 1.54
Diluted earnings per share (in dollars per share) $ 0.33 $ 0.64 $ 1.24 $ 1.53
Average basic shares outstanding (in shares) 59,104 58,681 59,037 58,777
Average diluted shares outstanding (in shares) 59,111 58,801 59,068 58,918
Trust and asset management revenue        
Other income:        
Other income $ 662 $ 568 $ 1,919 $ 1,835
Fees and service charges        
Other income:        
Other income $ 5,178 $ 6,320 $ 15,939 $ 17,026