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Dec 31, 2022
OceanFirst Q4 2022 Earnings Report
Reported record quarterly and annual earnings driven by exceptional financial performance.
Key Takeaways
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.
Net income available to common stockholders was $52.3 million, or $0.89 per diluted share.
Net interest income increased to $106.5 million, up $10.5 million from the prior linked quarter.
Net interest margin increased to 3.64%, driven by the rising rate environment and loan growth.
Loan growth for the quarter was $199.3 million, with loan originations of $684.1 million.
OceanFirst
OceanFirst
Forward Guidance
The company did not provide specific forward guidance in this earnings report.