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Sep 30, 2021
OceanFirst Q3 2021 Earnings Report
OceanFirst's financial performance improved in Q3 2021, marked by increased net income and strategic growth initiatives.
Key Takeaways
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.
Net income available to common stockholders was $23.2 million, or $0.39 per diluted share.
Total loan growth for the quarter was $361.0 million, excluding PPP loans, the growth was $391.5 million.
Deposits increased by $358.8 million during the third quarter, and the cost of deposits decreased to 0.22%.
Net interest income increased by $3.1 million to $77.1 million from the prior linked quarter.
Forward Guidance
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on certain assumptions and describe future plans, strategies and expectations of the Company.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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