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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 181,198 $ 153,718
Debt securities available-for-sale, at estimated fair value 721,484 753,892
Debt securities held-to-maturity, net of allowance for securities credit losses of $958 at June 30, 2024 and $1,133 at December 31, 2023 (estimated fair value of $1,003,850 at June 30, 2024 and $1,068,438 at December 31, 2023) 1,105,843 1,159,735
Equity investments 104,132 100,163
Restricted equity investments, at cost 92,679 93,766
Loans receivable, net of allowance for loan credit losses of $68,839 at June 30, 2024 and $67,137 at December 31, 2023 9,961,117 10,136,721
Loans held-for-sale 2,062 5,166
Interest and dividends receivable 50,976 51,874
Premises and equipment, net 117,392 121,372
Bank owned life insurance 267,867 266,498
Assets held for sale 28 28
Goodwill 506,146 506,146
Core deposit intangible 7,859 9,513
Other assets 202,972 179,661
Total assets 13,321,755 13,538,253
Liabilities and Stockholders’ Equity    
Deposits 9,994,017 10,434,949
Federal Home Loan Bank (“FHLB”) advances 789,337 848,636
Securities sold under agreements to repurchase with customers 80,000 73,148
Other borrowings 424,490 196,456
Advances by borrowers for taxes and insurance 25,168 22,407
Other liabilities 332,074 300,712
Total liabilities 11,645,086 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 June 30, 2024 and December 31, 2023 1 1
Common stock, $0.01 par value, 150,000,000 shares authorized, 62,512,415 and 62,182,767 shares issued at June 30, 2024 and December 31, 2023, respectively; and 58,481,418 and 59,447,684 shares outstanding at June 30, 2024 and December 31, 2023, respectively 613 613
Additional paid-in capital 1,164,813 1,161,755
Retained earnings 620,021 592,542
Accumulated other comprehensive loss (17,185) (20,862)
Less: Unallocated common stock held by Employee Stock Ownership Plan ("ESOP") (3,161) (3,780)
Treasury stock, 4,030,997 and 2,735,083 shares at June 30, 2024 and December 31, 2023, respectively (89,217) (69,106)
OceanFirst Financial Corp. stockholders’ equity 1,675,885 1,661,163
Non-controlling interest 784 782
Total stockholders’ equity 1,676,669 1,661,945
Total liabilities and stockholders’ equity $ 13,321,755 $ 13,538,253