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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 457,747 $ 167,946
Debt securities available-for-sale, at estimated fair value 452,016 457,648
Debt securities held-to-maturity, net of allowance for securities credit losses of $964 at June 30, 2023 and $1,128 at December 31, 2022 (estimated fair value of $1,109,756 at June 30, 2023 and $1,110,041 at December 31, 2022) 1,222,507 1,221,138
Equity investments 96,452 102,037
Restricted equity investments, at cost 105,305 109,278
Loans receivable, net of allowance for loan credit losses of $61,791 at June 30, 2023 and $56,824 at December 31, 2022 10,030,106 9,868,718
Loans held-for-sale 4,200 690
Interest and dividends receivable 47,933 44,704
Premises and equipment, net 124,139 126,705
Bank owned life insurance 263,836 261,603
Assets held for sale 3,608 2,719
Goodwill 506,146 506,146
Core deposit intangible 11,476 13,497
Other assets 213,432 221,067
Total assets 13,538,903 13,103,896
Liabilities and Stockholders’ Equity    
Deposits 10,158,337 9,675,206
Federal Home Loan Bank (“FHLB”) advances 1,091,666 1,211,166
Securities sold under agreements to repurchase with customers 74,452 69,097
Other borrowings 195,925 195,403
Advances by borrowers for taxes and insurance 27,839 21,405
Other liabilities 364,401 346,155
Total liabilities 11,912,620 11,518,432
Stockholders’ equity:    
Preferred stock, $0.01 par value, $1,000 liquidation preference, 5,000,000 shares authorized, and 57,370 shares issued at both June 30, 2023 and December 31, 2022 1 1
Common stock, $0.01 par value, 150,000,000 shares authorized, 62,155,942 and 61,877,686 shares issued at June 30, 2023 and December 31, 2022, respectively; and 59,420,859 and 59,144,128 shares outstanding at June 30, 2023 and December 31, 2022, respectively 613 612
Additional paid-in capital 1,159,394 1,154,821
Retained earnings 569,867 540,507
Accumulated other comprehensive loss (30,348) (35,982)
Less: Unallocated common stock held by Employee Stock Ownership Plan ("ESOP") (4,986) (6,191)
Treasury stock, 2,735,083 shares at both June 30, 2023 and December 31, 2022 (69,106) (69,106)
OceanFirst Financial Corp. stockholders’ equity 1,625,435 1,584,662
Non-controlling interest 848 802
Total stockholders’ equity 1,626,283 1,585,464
Total liabilities and stockholders’ equity $ 13,538,903 $ 13,103,896