XML 50 R36.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Business Combinations (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Merger Related Expenses | The following table summarizes the merger related expenses for the years ended December 31, 2024, 2023 and 2022:
| For the Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| (in thousands)
Data processing fees | $ | — |  |  | $ | 10 |  |  | $ | 790 |
Professional fees | 1,506 |  |  | 12 |  |  | 1,936 |
Other/miscellaneous fees | 273 |  |  | — |  |  | 9 |
Merger related expenses | $ | 1,779 |  |  | $ | 22 |  |  | $ | 2,735 |
Schedule of Estimated Fair Values of the Assets Acquired and the Liabilities Assumed | The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed by the Company at the date of the acquisition for Spring Garden, net of total consideration paid (in thousands):
| At October 1, 2024
| Estimated Fair Value
Total consideration paid (1) | $ | 162,704 |
Assets acquired: |
Cash and cash equivalents | $ | 68 |
Loans | 140,062 |
Other real estate owned | 1,666 |
Premises and equipment | 157 |
Other assets | 1,122 |
Customer relationship intangible | 6,500 |
Total assets acquired | 149,575 |
Liabilities assumed: |
Other liabilities | 4,033 |
Total liabilities assumed | 4,033 |
Net assets acquired | $ | 145,542 |
Goodwill recorded | $ | 17,162 |
(1)Cash consideration paid was $68 million. The difference between the cash and total consideration paid includes adjustments for the settlement of pre-existing relationships.
Schedule of Future Amortization Expense | The estimated future amortization expense for core deposit intangible and customer relationship intangible over the next five years and thereafter are as follows (in thousands):
For the Year Ending December 31, |  | Amortization Expense
2025 |  | $ | 3,634 |
2026 |  | 3,269 |
2027 |  | 2,616 |
2028 |  | 1,600 |
2029 |  | 918 |
Thereafter |  | 643 |
Total |  | $ | 12,680 |

X
- Definition Schedule of Merger Related Expenses [Table Text Block] + References No definition available. + Details
Name: | ocfc_ScheduleofMergerRelatedExpensesTableTextBlock
Namespace Prefix: | ocfc_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration