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Jun 30, 2021
OceanFirst Q2 2021 Earnings Report
OceanFirst reported net income available to common stockholders of $29.6 million, or $0.49 per diluted share, for the second quarter of 2021, compared to $18.6 million, or $0.31 per diluted share, for the same period last year.
Key Takeaways
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.
Net income available to common stockholders was $29.6 million, or $0.49 per diluted share.
Commercial banking expansion remains a strategic focus, with seven commercial bankers added in the quarter.
A record loan pipeline of $628.6 million was achieved as of June 30, 2021.
A generational core systems upgrade was successfully completed.
OceanFirst
OceanFirst
Forward Guidance
Management will discuss the commercial banking expansion plans, digital banking investments, as well as expense management strategies in more detail at the Company’s previously announced Investor Day scheduled to take place at the Administrative Offices in Red Bank, New Jersey, on August 5, 2021.