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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income:        
Loans $ 136,049 $ 129,104 $ 273,170 $ 250,824
Debt securities 19,039 14,320 38,900 28,606
Equity investments and other 4,338 6,672 8,958 9,700
Total interest income 159,426 150,096 321,028 289,130
Interest expense:        
Deposits 60,071 37,934 119,926 59,264
Borrowed funds 17,092 20,053 32,615 38,955
Total interest expense 77,163 57,987 152,541 98,219
Net interest income 82,263 92,109 168,487 190,911
Provision for credit losses 3,114 1,229 3,705 4,242
Net interest income after provision for credit losses 79,149 90,880 164,782 186,669
Other income:        
Bankcard services revenue 1,571 1,544 2,987 2,874
Net gain on sales of loans 420 33 777 53
Net gain (loss) on equity investments 887 (559) 2,810 (7,360)
Income from bank owned life insurance 1,726 1,182 3,588 2,463
Commercial loan swap income 241 0 379 701
Other 706 481 2,297 252
Total other income 10,985 8,928 23,271 11,001
Operating expenses:        
Compensation and employee benefits 33,136 34,222 65,895 68,142
Occupancy 5,175 5,265 10,374 10,504
Equipment 1,068 1,101 2,198 2,306
Marketing 1,175 961 2,165 1,943
Federal deposit insurance and regulatory assessments 2,685 2,465 5,820 4,214
Data processing 6,018 6,165 11,974 12,319
Check card processing 1,075 1,214 2,125 2,495
Professional fees 2,161 5,083 4,893 10,181
Amortization of core deposit intangible 810 994 1,654 2,021
Branch consolidation expense, net 0 0 0 70
Merger related expenses 0 0 0 22
Other operating expense 5,317 5,460 10,194 10,022
Total operating expenses 58,620 62,930 117,292 124,239
Income before provision for income taxes 31,514 36,878 70,761 73,431
Provision for income taxes 7,082 8,996 17,719 17,650
Net income 24,432 27,882 53,042 55,781
Net income attributable to non-controlling interest 59 85 2 101
Net income attributable to OceanFirst Financial Corp. 24,373 27,797 53,040 55,680
Dividends on preferred shares 1,004 1,004 2,008 2,008
Net income available to common stockholders, basic 23,369 26,793 51,032 53,672
Net income available to common stockholders, diluted $ 23,369 $ 26,793 $ 51,032 $ 53,672
Basic earnings per share (in dollars per share) $ 0.40 $ 0.45 $ 0.87 $ 0.91
Diluted earnings per share (in dollars per share) $ 0.40 $ 0.45 $ 0.87 $ 0.91
Average basic shares outstanding (in shares) 58,356 59,147 58,489 58,988
Average diluted shares outstanding (in shares) 58,357 59,153 58,490 59,038
Trust and asset management revenue        
Other income:        
Revenue $ 419 $ 645 $ 945 $ 1,257
Fees and service charges        
Other income:        
Revenue $ 5,015 $ 5,602 $ 9,488 $ 10,761