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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 153,718 $ 167,946
Debt securities available-for-sale, at estimated fair value (encumbered $304,340 at December 31, 2023 and $239,953 at December 31, 2022) 753,892 457,648
Debt securities held-to-maturity, net of allowance for securities credit losses of $1,133 at December 31, 2023 and $1,128 at December 31, 2022 (estimated fair value of $1,068,438 at December 31, 2023 and $1,110,041 at December 31, 2022) (encumbered $850,634 at December 31, 2023 and $778,268 at December 31, 2022) 1,159,735 1,221,138
Equity investments 100,163 102,037
Restricted equity investments, at cost 93,766 109,278
Loans receivable, net of allowance for loan credit losses of $67,137 at December 31, 2023 and $56,824 at December 31, 2022 10,136,721 9,868,718
Loans held-for-sale 5,166 690
Interest and dividends receivable 51,874 44,704
Premises and equipment, net 121,372 126,705
Bank owned life insurance 266,498 261,603
Assets held for sale 28 2,719
Goodwill 506,146 506,146
Core deposit intangible 9,513 13,497
Other assets 179,661 221,067
Total assets 13,538,253 13,103,896
Liabilities and Stockholders’ Equity    
Deposits 10,434,949 9,675,206
Federal Home Loan Bank ("FHLB") advances 848,636 1,211,166
Securities sold under agreements to repurchase with customers 73,148 69,097
Other borrowings 196,456 195,403
Advances by borrowers for taxes and insurance 22,407 21,405
Other liabilities 300,712 346,155
Total liabilities 11,876,308 11,518,432
Stockholders’ equity:    
Preferred stock, $0.01 par value, $1,000 liquidation preference, 5,000,000 shares authorized, 57,370 shares issued at both December 31, 2023 and December 31, 2022 1 1
Common stock, $0.01 par value, 150,000,000 shares authorized, 62,182,767 and 61,877,686 shares issued at December 31, 2023 and December 31, 2022, respectively; and 59,447,684 and 59,144,128 shares outstanding at December 31, 2023 and December 31, 2022, respectively 613 612
Additional paid-in capital 1,161,755 1,154,821
Retained earnings 592,542 540,507
Accumulated other comprehensive loss (20,862) (35,982)
Less: Unallocated common stock held by Employee Stock Ownership Plan ("ESOP") (3,780) (6,191)
Treasury stock, 2,735,083 and 2,733,558 shares at December 31, 2023 and December 31, 2022, respectively (69,106) (69,106)
OceanFirst Financial Corp. stockholders’ equity 1,661,163 1,584,662
Non-controlling interest 782 802
Total stockholders’ equity 1,661,945 1,585,464
Total liabilities and stockholders’ equity $ 13,538,253 $ 13,103,896