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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 123,615 $ 153,718
Debt securities available-for-sale, at estimated fair value (encumbered $470,844 at December 31, 2024 and $304,340 at December 31, 2023) 827,500 753,892
Debt securities held-to-maturity, net of allowance for securities credit losses of $967 at December 31, 2024 and $1,133 at December 31, 2023 (estimated fair value of $952,917 at December 31, 2024 and $1,068,438 at December 31, 2023) (encumbered $599,200 at December 31, 2024 and $850,634 at December 31, 2023) 1,045,875 1,159,735
Equity investments 84,104 100,163
Restricted equity investments, at cost 108,634 93,766
Loans receivable, net of allowance for loan credit losses of $73,607 at December 31, 2024 and $67,137 at December 31, 2023 10,055,429 10,136,721
Loans held-for-sale 21,211 5,166
Interest and dividends receivable 45,914 51,874
Other real estate owned 1,811 0
Premises and equipment, net 115,256 121,372
Bank owned life insurance 270,208 266,498
Assets held for sale 0 28
Goodwill 523,308 506,146
Intangibles 12,680 9,513
Other assets 185,702 179,661
Total assets 13,421,247 13,538,253
Liabilities and Stockholders’ Equity    
Deposits 10,066,342 10,434,949
Federal Home Loan Bank ("FHLB") advances 1,072,611 848,636
Securities sold under agreements to repurchase with customers 60,567 73,148
Other borrowings 197,546 196,456
Advances by borrowers for taxes and insurance 23,031 22,407
Other liabilities 298,393 300,712
Total liabilities 11,718,490 11,876,308
Stockholders’ equity:    
Preferred stock, $0.01 par value, $1,000 liquidation preference, 5,000,000 shares authorized, 57,370 shares issued at both December 31, 2024 and December 31, 2023 1 1
Common stock, $0.01 par value, 150,000,000 shares authorized, 62,673,192 and 62,182,767 shares issued at December 31, 2024 and December 31, 2023, respectively; and 58,554,871 and 59,447,684 shares outstanding at December 31, 2024 and December 31, 2023, respectively 613 613
Additional paid-in capital 1,168,321 1,161,755
Retained earnings 641,727 592,542
Accumulated other comprehensive loss (15,853) (20,862)
Less: Unallocated common stock held by Employee Stock Ownership Plan ("ESOP") (2,542) (3,780)
Treasury stock, 4,118,321 and 2,735,083 shares at December 31, 2024 and December 31, 2023, respectively (90,617) (69,106)
OceanFirst Financial Corp. stockholders’ equity 1,701,650 1,661,163
Non-controlling interest 1,107 782
Total stockholders’ equity 1,702,757 1,661,945
Total liabilities and stockholders’ equity $ 13,421,247 $ 13,538,253