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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 130,422 $ 153,718
Debt securities available-for-sale, at estimated fair value 744,944 753,892
Debt securities held-to-maturity, net of allowance for securities credit losses of $1,058 at March 31, 2024 and $1,133 at December 31, 2023 (estimated fair value of $1,029,965 at March 31, 2024 and $1,068,438 at December 31, 2023) 1,128,666 1,159,735
Equity investments 103,201 100,163
Restricted equity investments, at cost 85,689 93,766
Loans receivable, net of allowance for loan credit losses of $67,173 at March 31, 2024 and $67,137 at December 31, 2023 10,068,209 10,136,721
Loans held-for-sale 4,702 5,166
Interest and dividends receivable 52,502 51,874
Premises and equipment, net 119,211 121,372
Bank owned life insurance 266,615 266,498
Assets held for sale 28 28
Goodwill 506,146 506,146
Core deposit intangible 8,669 9,513
Other assets 199,974 179,661
Total assets 13,418,978 13,538,253
Liabilities and Stockholders’ Equity    
Deposits 10,236,851 10,434,949
Federal Home Loan Bank (“FHLB”) advances 658,436 848,636
Securities sold under agreements to repurchase with customers 66,798 73,148
Other borrowings 425,722 196,456
Advances by borrowers for taxes and insurance 28,187 22,407
Other liabilities 337,147 300,712
Total liabilities 11,753,141 11,876,308
Stockholders’ equity:    
Preferred stock, $0.01 par value, $1,000 liquidation preference, 5,000,000 shares authorized, and 57,370 shares issued at both March 31, 2024 and December 31, 2023 1 1
Common stock, $0.01 par value, 150,000,000 shares authorized, 62,505,408 and 62,182,767 shares issued at March 31, 2024 and December 31, 2023, respectively; and 58,812,498 and 59,447,684 shares outstanding at March 31, 2024 and December 31, 2023, respectively 613 613
Additional paid-in capital 1,163,282 1,161,755
Retained earnings 608,355 592,542
Accumulated other comprehensive loss (19,415) (20,862)
Less: Unallocated common stock held by Employee Stock Ownership Plan ("ESOP") (3,470) (3,780)
Treasury stock, 3,692,910 and $2,735,083 shares at March 31, 2024 and December 31, 2023, respectively (84,254) (69,106)
OceanFirst Financial Corp. stockholders’ equity 1,665,112 1,661,163
Non-controlling interest 725 782
Total stockholders’ equity 1,665,837 1,661,945
Total liabilities and stockholders’ equity $ 13,418,978 $ 13,538,253