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Parent-Only Financial Information (Tables)
12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Schedule of Condensed Statement of Financial Condition
Condensed Statement of Financial Condition
(in thousands)
 December 31,
 20242023
Assets:
Cash and due from banks
$13,214 $12,083 
Advances to Bank98,321 67,289 
Equity securities77,327 93,387 
ESOP loan receivable
2,871 4,241 
Investment in subsidiaries
1,704,037 1,672,406 
Goodwill5,827 5,827 
Other assets
1,817 6,059 
Total assets$1,903,414 $1,861,292 
Liabilities and Stockholders’ Equity:
Borrowings
$196,124 $194,771 
Other liabilities4,533 4,576 
Total liabilities200,657 199,347 
OceanFirst Financial Corp. stockholders’ equity1,701,650 1,661,163 
Non-controlling interest1,107 782 
 Total stockholders’ equity1,702,757 1,661,945 
Total liabilities and stockholders’ equity
$1,903,414 $1,861,292 
Schedule of Condensed Statements of Operations
Condensed Statements of Operations
(in thousands)
 For the Year Ended December 31,
 202420232022
Dividend income – subsidiaries$86,350 $97,043 $73,011 
Interest and dividend income – debt and equity securities3,319 2,981 2,387 
Interest income – advances to subsidiary Bank4,423 2,182 562 
Interest income – ESOP loan receivable
138 183 227 
Net gain (loss) on equity investments4,225 (3,732)7,973 
Total income
98,455 98,657 84,160 
Interest expense – borrowings
13,840 13,569 10,861 
Operating expenses
4,875 4,050 4,258 
Income before income taxes and undistributed earnings of subsidiaries79,740 81,038 69,041 
Benefit for income taxes1,226 3,807 959 
Income before undistributed earnings of subsidiaries80,966 84,845 70,000 
Undistributed earnings of subsidiaries19,424 19,220 77,357 
Net income100,390 104,065 147,357 
Net income attributable to non-controlling interest325 36 754 
Net income attributable to OceanFirst Financial Corp.$100,065 $104,029 $146,603 
Schedule of Condensed Statements of Cash Flows
Condensed Statements of Cash Flows
(in thousands)
 For the Year Ended December 31,
 202420232022
Cash flows from operating activities:
Net income$100,390 $104,065 $147,357 
(Increase) decrease in advances to subsidiary Bank(31,032)(34,449)30,640 
Undistributed earnings of subsidiary Bank(19,424)(19,220)(77,357)
Net (gain) loss on equity investments(4,225)3,732 (7,973)
Net premium amortization in excess of discount accretion on securities584 981 1,185 
Amortization of deferred costs on borrowings626 598 548 
Net amortization of purchase accounting adjustments727 704 684 
Change in other assets and other liabilities4,199 (3,995)2,336 
Net cash provided by operating activities51,845 52,416 97,420 
Cash flows from investing activities:
Proceeds from sales of equity investments22,783 4,822 6,482 
Purchase of equity investments(3,082)(7,661)(7,207)
Repayments on ESOP loan receivable1,370 2,510 2,480 
Cash consideration for acquisition, net of cash received— — (7,084)
Net cash provided by (used in) investing activities21,071 (329)(5,329)
Cash flows from financing activities:
Repayments of other borrowings— — (35,000)
Dividends paid(50,880)(51,274)(47,511)
Purchase of treasury stock(21,476)— (7,396)
Exercise of stock options571 702 424 
Distributions to non-controlling interest— (55)(788)
Net cash used in financing activities(71,785)(50,627)(90,271)
Net increase in cash and due from banks1,131 1,460 1,820 
Cash and due from banks at beginning of year12,083 10,623 8,803 
Cash and due from banks at end of year$13,214 $12,083 $10,623