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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 163,721 $ 123,615
Debt securities available-for-sale, at estimated fair value 746,168 827,500
Debt securities held-to-maturity, net of allowance for securities credit losses of $898 at March 31, 2025 and $967 at December 31, 2024 (estimated fair value of $926,075 at March 31, 2025 and $952,917 at December 31, 2024) 1,005,476 1,045,875
Equity investments 87,365 84,104
Restricted equity investments, at cost 102,172 108,634
Loans receivable, net of allowance for loan credit losses of $78,798 at March 31, 2025 and $73,607 at December 31, 2024 10,058,072 10,055,429
Loans held-for-sale 9,698 21,211
Interest and dividends receivable 44,843 45,914
Other real estate owned 1,917 1,811
Premises and equipment, net 114,588 115,256
Bank owned life insurance 269,398 270,208
Goodwill 523,308 523,308
Intangibles 11,740 12,680
Other assets 170,812 185,702
Total assets 13,309,278 13,421,247
Liabilities and Stockholders’ Equity    
Deposits 10,177,023 10,066,342
Federal Home Loan Bank (“FHLB”) advances 891,021 1,072,611
Securities sold under agreements to repurchase with customers 65,132 60,567
Other borrowings 197,808 197,546
Advances by borrowers for taxes and insurance 28,789 23,031
Other liabilities 240,388 298,393
Total liabilities 11,600,161 11,718,490
Stockholders’ equity:    
Preferred stock, $0.01 par value, $1,000 liquidation preference, 5,000,000 shares authorized, and 57,370 shares issued at both March 31, 2025 and December 31, 2024 1 1
Common stock, $0.01 par value, 150,000,000 shares authorized, 62,900,241 and 62,182,767 shares issued at March 31, 2025 and December 31, 2024, respectively; and 58,383,525 and 58,554,871 shares outstanding at March 31, 2025 and December 31, 2024, respectively 625 613
Additional paid-in capital 1,170,179 1,168,321
Retained earnings 650,546 641,727
Accumulated other comprehensive loss (13,252) (15,853)
Less: Unallocated common stock held by Employee Stock Ownership Plan ("ESOP") (2,232) (2,542)
Treasury stock, 4,516,716 and 4,118,321 shares at March 31, 2025 and December 31, 2024, respectively (97,545) (90,617)
OceanFirst Financial Corp. stockholders’ equity 1,708,322 1,701,650
Non-controlling interest 795 1,107
Total stockholders’ equity 1,709,117 1,702,757
Total liabilities and stockholders’ equity $ 13,309,278 $ 13,421,247