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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income:        
Loans $ 136,635 $ 133,931 $ 409,805 $ 384,755
Debt securities 19,449 15,223 58,349 43,829
Equity investments and other 5,441 9,256 14,399 18,956
Total interest income 161,525 158,410 482,553 447,540
Interest expense:        
Deposits 62,318 53,287 182,244 112,551
Borrowed funds 16,988 14,127 49,603 53,082
Total interest expense 79,306 67,414 231,847 165,633
Net interest income 82,219 90,996 250,706 281,907
Provision for credit losses 517 10,283 4,222 14,525
Net interest income after provision for credit losses 81,702 80,713 246,484 267,382
Other income:        
Bankcard services revenue 1,615 1,507 4,602 4,381
Net gain on sales of loans 505 66 1,282 119
Net gain (loss) on equity investments 1,420 1,452 4,230 (5,908)
Income from bank owned life insurance 1,779 1,390 5,367 3,853
Commercial loan swap income 414 11 793 712
Other 2,471 496 4,768 748
Total other income 14,684 10,762 37,955 21,763
Operating expenses:        
Compensation and employee benefits 35,844 35,534 101,739 103,676
Occupancy 5,157 5,466 15,531 15,970
Equipment 1,026 1,172 3,224 3,478
Marketing 1,385 1,183 3,550 3,126
Federal deposit insurance and regulatory assessments 2,618 2,557 8,438 6,771
Data processing 5,940 6,086 17,914 18,405
Check card processing 1,153 1,154 3,278 3,649
Professional fees 1,970 5,258 6,863 15,439
Amortization of core deposit intangible 803 987 2,457 3,008
Branch consolidation expense, net 0 0 0 70
Merger related expenses 1,669 0 1,669 22
Other operating expense 6,171 5,087 16,365 15,109
Total operating expenses 63,736 64,484 181,028 188,723
Income before provision for income taxes 32,650 26,991 103,411 100,422
Provision for income taxes 7,464 6,459 25,183 24,109
Net income 25,186 20,532 78,228 76,313
Net income attributable to non-controlling interest 70 (135) 72 (34)
Net income attributable to OceanFirst Financial Corp. 25,116 20,667 78,156 76,347
Dividends on preferred shares 1,004 1,004 3,012 3,012
Net income available to common stockholders, basic 24,112 19,663 75,144 73,335
Net income available to common stockholders, diluted $ 24,112 $ 19,663 $ 75,144 $ 73,335
Basic earnings per share (in dollars per share) $ 0.42 $ 0.33 $ 1.29 $ 1.24
Diluted earnings per share (in dollars per share) $ 0.42 $ 0.33 $ 1.29 $ 1.24
Average basic shares outstanding (in shares) 58,065 59,104 58,405 59,037
Average diluted shares outstanding (in shares) 58,068 59,111 58,407 59,068
Trust and asset management revenue        
Other income:        
Revenue $ 384 $ 662 $ 1,329 $ 1,919
Fees and service charges        
Other income:        
Revenue $ 6,096 $ 5,178 $ 15,584 $ 15,939