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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net income $ 25,186 $ 20,532 $ 78,228 $ 76,313
Other comprehensive income:        
Net unrealized gain on debt securities (net of tax expense of $1,225 and $2,569 in 2024 and $572 and $2,430 in 2023, respectively) 3,847 1,797 8,066 7,626
Accretion of unrealized loss on debt securities reclassified to held-to-maturity (net of tax expense of $43 and $125 in 2024 and $66 and $176 in 2023, respectively) 62 116 180 277
Unrealized gain (loss) on derivative hedges (net of tax expense of $267 and tax benefit of $133 in 2024 and tax benefit of $198 and $573 in 2023, respectively) 837 (622) (418) (1,798)
Reclassification adjustment for losses included in net income (net of tax expense of $80 and $270 in 2024 and $78 and $340 in 2023, respectively) 254 246 849 1,066
Total other comprehensive income, net of tax 5,000 1,537 8,677 7,171
Total comprehensive income 30,186 22,069 86,905 83,484
Less: comprehensive income (loss) attributable to non-controlling interest 70 (135) 72 (34)
Comprehensive income attributable to OceanFirst Financial Corp. 30,116 22,204 86,833 83,518
Less: Dividends on preferred shares 1,004 1,004 3,012 3,012
Total comprehensive income available to common stockholders $ 29,112 $ 21,200 $ 83,821 $ 80,506