OceanFirst Earnings Reports

OceanFirst Financial Corp. announced net income available to common stockholders of $20.5 million, or $0.35 per diluted share, for the quarter ended March 31, 2025. This represents a decrease from $27.7 million, or $0.47 per diluted share, for the corresponding prior year period. Core earnings for the quarter were $20.3 million, or $0.35 per diluted share, showing a decrease from $25.6 million in the prior year period. Net interest income increased to $86.7 million, and net interest margin expanded to 2.90%.

OceanFirst Financial Corp. reported a net income available to common stockholders of $27.7 million, or $0.47 per diluted share, for the quarter ended March 31, 2024. The company's net interest margin slightly decreased, but capital accretion continued, and share repurchases were resumed. Asset quality metrics remained strong, and expense management was disciplined.

OceanFirst Financial Corp. reported a decrease in net income available to common stockholders for the quarter ended December 31, 2023, compared to the corresponding prior year period, but showed stability in deposits and an increase in the common equity tier 1 capital ratio.

OceanFirst Financial Corp. announced net income available to common stockholders of $19.7 million, or $0.33 per diluted share, for the three months ended September 30, 2023. Total deposits increased $375.6 million, or 4%, as compared to the prior linked quarter. Asset quality metrics remains strong, despite the impact of a charge-off related to a single credit relationship announced on September 14, 2023.

OceanFirst Financial Corp. reported a net income available to common stockholders of $26.8 million, or $0.45 per diluted share, for the three months ended June 30, 2023. The results were impacted by prudent balance sheet measures to increase liquidity and preserve deposits.

OceanFirst Financial Corp. reported a net income available to common stockholders of $26.9 million, or $0.46 per diluted share, for the quarter ended March 31, 2023. The company enhanced on-balance sheet liquidity and maintained a strong balance sheet quality. Net interest margin was 3.34%.

OceanFirst Financial Corp. reported a strong financial performance for the fourth quarter and the year, driven by record net income and net interest income, net interest margin expansion, and continued loan growth.

OceanFirst Financial Corp. reported a strong third quarter, driven by expansion of net interest income and margin, continued organic loan and deposit growth, and disciplined expense management. Net income available to common stockholders was $37.6 million, or $0.64 per diluted share.

OceanFirst Financial Corp. reported net income available to common stockholders of $28.0 million, or $0.47 per diluted share, for the three months ended June 30, 2022. This compares to $29.6 million, or $0.49 per diluted share, for the corresponding prior year period. Core earnings for the quarter amounted to $34.6 million, or $0.59 per diluted share. The company experienced strengthening net interest income and margin, balance sheet growth, and improving asset quality.

OceanFirst Financial Corp. reported a net income available to common stockholders of $24.8 million, or $0.42 per diluted share, for the quarter ended March 31, 2022. The company experienced strong loan growth of $486.1 million and deposit growth of $323.4 million. Net interest income increased by $3.6 million to $84.2 million, and the net interest margin increased to 3.18%.

OceanFirst Financial Corp. reported net income available to common stockholders of $21.7 million, or $0.37 per diluted share, for the quarter ended December 31, 2021.

OceanFirst Financial Corp. reported a net income available to common stockholders of $23.2 million, or $0.39 per diluted share, for the three months ended September 30, 2021, compared to a net loss of $6.0 million, or $0.10 per diluted share, for the corresponding prior year period. The company experienced loan growth, deposit growth, and an increase in net interest income and margin.

OceanFirst Financial Corp. announced second quarter financial results with net income available to common stockholders of $29.6 million, or $0.49 per diluted share. The company's commercial banking expansion contributed to a record loan pipeline of $628.6 million. A generational core systems upgrade was successfully completed, enhancing operational functionality and efficiencies.

OceanFirst Financial Corp. reported a strong first quarter with net income available to common stockholders of $31.7 million, or $0.53 per diluted share, compared to $16.5 million, or $0.27 per diluted share, for the corresponding prior year period. The results benefited from a modest release of credit loss expense and improved levels of core operating expenses.

OceanFirst Financial Corp. reported record quarterly GAAP earnings of $32.1 million, or $0.54 per diluted share, for the quarter ended December 31, 2020, compared to $23.5 million, or $0.47 per diluted share, for the corresponding prior year quarter. The company's balance sheet was strengthened through strategic decisions, including the creation of a yield-focused debt and equity portfolio and the sale of PPP loans.

OceanFirst Financial Corp. reported a net loss available to common stockholders of $6.0 million, or $(0.10) per diluted share, for the three months ended September 30, 2020, compared to net income available to common stockholders of $25.0 million, or $0.49 per diluted share, for the corresponding prior year period. The results were impacted by the COVID-19 pandemic, through both higher credit losses and increased operating expenses.

OceanFirst Financial Corp. reported a net income of $18.6 million, or $0.31 per diluted share, for the second quarter of 2020. The results were impacted by merger-related and branch consolidation expenses, as well as the COVID-19 outbreak.

OceanFirst Financial Corp. reported a net income of $16.5 million, or $0.27 per diluted share, for the quarter ended March 31, 2020. The results were impacted by merger-related expenses, branch consolidation expenses, and the Two River and Country Bank opening credit loss expense, as well as the COVID-19 outbreak.

OceanFirst Financial Corp. reported a net income of $23.5 million, or $0.47 per diluted share, for the quarter ended December 31, 2019. Loan and deposit growth were strong, with record loan originations of $504.4 million and deposit increases of $107.9 million. The company completed acquisitions of Two River Bancorp and Country Bank Holding Company on January 1, 2020, which significantly increased consolidated assets, loans, and deposits.