Oceanfirst financial corp (OCFC)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities
Net income

88,574

71,932

42,470

23,046

20,322

19,920

16,330

20,020

20,741

20,378

15,653

Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization of premises and equipment

8,363

8,706

6,303

4,786

3,335

2,916

2,832

2,626

2,454

2,154

1,985

Allocation of ESOP stock

1,575

1,618

919

657

603

570

538

480

450

416

409

Stock awards

3,861

3,038

2,181

1,505

1,300

928

671

591

904

1,047

734

Tax benefit of stock plans

-

-

-

-62

-32

-

-

-

-

-

-

Net excess tax benefit on stock compensation

357

722

1,823

0

0

-

-

-

-1,303

-

-

Amortization of servicing asset

42

98

85

157

245

1,016

1,385

1,633

1,853

2,018

-2,374

Net premium amortization in excess of discount accretion on securities

-3,232

-3,893

-3,216

-1,656

-1,991

-2,816

-3,667

-3,466

-2,366

-1,804

-578

Net amortization of deferred costs on borrowings

216

262

74

0

0

-

501

819

812

998

933

Amortization of core deposit intangible

4,027

3,811

2,039

623

21

-

-

-

-

-

-

Net accretion of purchase accounting adjustments

14,094

16,733

8,216

4,505

317

-

-

-

-

-

-

Net amortization of deferred costs and discounts on loans

-1,584

-669

-509

274

-55

-63

-

-

-

-

-

Provision for credit losses

1,636

3,490

4,445

2,623

1,275

2,630

2,800

7,900

7,750

8,000

5,700

Net loss on sale and write-down of other real estate owned

-20

-2,359

-1,119

-138

269

46

-105

295

-278

-476

166

Net gain on sale of fixed assets

27

26

-150

-38

0

0

-

-

16

-9

-6

Write-down of fixed assets held for sale to net realizable value

7,532

4,024

6,084

0

0

-

-

-

-

-

-

Net loss on sales of investment securities available for sale

-

-

-

-12

0

1,031

46

226

-

-

-

Proceeds from sale of mortgage servicing rights

-

-

-

-

192

3,155

-

-

-

-

-

Net gain on sale of loan servicing

-

-

-

-

111

408

-

-

-

-

-

Net unrealized gain on equity securities

267

-199

0

0

-

-

-

-

-

-

-

Net loss on sales of available-for-sale securities

-

-

-

-

-

-

-

-

-148

-

-

Net gain on sales of loans

16

668

100

986

822

772

2,138

4,718

3,002

3,657

3,650

Other than temporary impairment losses on investment securities and net loss on sales of securities available for sale

-

-

-

-

-

-

-

-

-

-

4

Proceeds from sales of mortgage loans held for sale

1,023

2,794

5,282

50,075

49,436

39,641

106,719

176,903

135,705

166,820

235,000

Mortgage loans originated for sale

1,007

2,498

3,872

47,943

47,110

42,571

99,614

170,999

136,362

165,335

234,765

Increase in value of Bank Owned Life Insurance

5,420

5,105

3,299

2,230

1,501

1,477

1,404

1,338

1,172

845

835

Net loss (gain) on sale of assets held for sale

-17

1,245

0

0

-

-

-

-

-

-

-

Increase in interest and dividends receivable

397

-186

2,265

200

-68

126

-596

-456

-14

387

-239

Provision for repurchased loans and loss sharing obligations

-

-

-

-

-

-

975

750

-

-

-

Recovery for repurchased loans

-

-

-

-

-

-

-

-

-

-

-245

Deferred tax provision

16,053

-4,568

35,440

5,798

1,441

82

-1,750

649

-699

-4,550

-1,955

Decrease (increase) in other assets

32,871

-27,301

5,375

-18,612

-1,670

-151

-2,031

-937

3,138

-878

7,871

Increase in other liabilities

16,948

-10,264

-5,235

-20,226

-3,525

124

1,260

1,076

-11,536

9,717

2,700

Total adjustments

11,673

20,619

37,661

10,378

8,009

7,661

19,128

10,868

-3,191

19,563

1,175

Net cash provided by operating activities

100,247

92,551

80,131

33,424

28,331

27,581

35,458

30,888

17,550

39,941

16,828

Cash flows from investing activities
Net (increase) decrease in loans receivable

215,881

-103,889

138,271

-106,371

146,416

152,852

24,917

-27,050

-86,290

41,945

-10,085

Proceeds from sale of under performing loans

5,901

10,412

11,186

29,647

-

19,058

-

-

-

-

-

Purchase of loans receivable

101,674

199,580

37,337

37,561

22,054

20,574

-

-

-

-

-

Purchase of debt investment securities available-for-sale

60,158

33,040

69,987

10,021

9,972

20,547

28,292

74,390

74,011

52,959

300

Purchase of debt investment securities held-to-maturity

4,381

6,486

125,324

6,006

16,349

5,003

847

-

-

-

-

Purchase of mortgage-backed securities available-for-sale

-

-

-

-

-

-

127,582

94,663

101,560

233,685

156,665

Purchase of debt mortgage-backed securities held-to-maturity

0

0

165,501

59,590

10,312

35,203

-

-

-

-

-

Purchase of equity investments

214

191

0

0

-

-

-

-

-

-

-

Proceeds from maturities and calls of debt investment securities available-for-sale

-

-

-

-

-

-

-

-

-

-

1,822

Proceeds from maturities and calls of debt investment securities available-for-sale

29,299

18,501

0

18,506

0

35,005

45,395

28,049

514

1,600

150

Proceeds from maturities and calls of debt mortgage backed securities held-to-maturity

-

-

-

6,394

0

0

-

-

-

-

-

Proceeds from maturities and calls of debt investment securities held-to-maturity

43,256

52,543

18,233

53,964

46,292

7,711

3,725

-

-

-

-

Proceeds from sales of debt investment securities available-for-sale

-

-

-

41,853

0

8,439

1,244

1,221

-

-

-

Principal repayments on debt mortgage-backed securities available-for-sale

503

655

0

-

-

-

75,460

118,372

85,839

69,024

24,380

Purchase of Bank Owned Life Insurance

-

-

-

-

-

-

-

10,000

-

-

-

Proceeds from Bank Owned Life Insurance

870

2,708

624

310

0

0

-

158

-

-

-

Proceeds from the redemption of restricted equity investments

122,535

106,807

19,738

32,168

38,663

35,269

-

-

-

-

-

Purchases of restricted equity investments

127,794

127,048

20,149

23,571

39,157

39,921

-

-

-

-

-

Decrease in Federal Home Loan Bank of New York stock

-

-

-

-

-

-

-2,543

-1,099

1,232

-2,506

-1,476

Proceeds from sales of other real estate owned

2,060

5,438

3,880

3,744

3,342

4,016

2,116

3,105

2,964

-

1,070

Proceeds from sales of assets held for sale

2,353

10,050

0

0

-

-

-

-

-

-

-

Net proceeds from sale and acquisition of other real estate owned

-

-

-

-

-

-

-

-

-

1,285

-

Proceeds from sale of premises and equipment

-

-

-

-

-

-

-

-

16

-

-

Purchases of premises and equipment

5,075

11,487

48,698

6,670

3,891

3,970

4,283

2,600

2,227

2,563

2,743

Cash held in escrow for acquisitions

46,950

-

-

-

-

-

-

-

-

-

-

Cash consideration received (paid) for acquisition, net of cash received

-59,395

3,743

-

-

-

-

-

-

-

-

-

Net cash consideration received for acquisition

-

-

-

16,727

-

-

-

-

-

-

-

Cash acquired, net of cash consideration paid for acquisitions

-

-

-

31,965

3,703

-

-

-

-

-

-

Net cash (used in) provided by investing activities

-172,122

48,553

-455,223

271,700

-95,070

-111,373

-31,421

7,243

-3,407

-256,737

-120,725

Cash flows from financing activities
(Decrease) increase in deposits

65,687

-143,025

155,849

131,308

73,284

-26,628

27,092

13,588

42,115

299,769

90,067

Decrease in short-term borrowings

105,979

126,092

39,733

-175,137

-27,740

24,746

112,513

-5,310

-1,763

133,709

-5,251

Proceeds from Federal Home Loan Bank advances

80,000

0

10,000

55,161

55,000

215,000

70,000

-

55,000

154,000

78,000

Repayments of Federal Home Loan Bank advances

106,618

67,155

1,922

74,153

6,853

110,000

225,000

41,000

54,000

85,000

108,000

Net proceeds from issuance of subordinated notes

-

-

-

33,898

0

0

-

-

-

-

-

Repayments of other borrowings

263

439

-

10,000

5,000

-

-

-

-

-

-

Increase in advances by borrowers for taxes and insurance

-182

2,910

-2,874

2,286

798

-148

-915

-273

-166

506

128

Exercise of stock options

1,335

5,324

3,354

3,989

396

349

65

419

44

7

95

Payment of employee taxes withheld from stock awards

2,858

3,295

1,522

555

165

-

-

-

-

23

-150

Purchase of treasury stock

26,066

10,837

0

1,878

6,459

9,178

8,108

11,897

2,147

-

-

Acquisition of common stock by ESOP

0

8,400

0

0

-

-

-

-

-

-

-

Dividends paid

34,241

29,564

19,286

12,616

8,693

8,241

8,239

8,579

8,789

8,764

9,417

Tax benefit of stock plans

-

-

-

-

-

51

-31

-608

-

-

-

Dividends paid - preferred stock

-

-

-

-

-

-

-

-

-

-

1,828

Proceeds from issuance of preferred stock and warrants

-

-

-

-

-

-

-

-

-

-

38,263

Redemption of warrants

-

-

-

-

-

-

-

-

-

431

38,263

Expenses from common stock issuance

-

-

-

-

-

-

-

-

-

108

-54,248

Net cash provided by (used in) financing activities

82,773

-128,389

183,332

-47,697

74,568

85,951

-32,623

-53,114

31,929

225,235

108,438

Net increase in cash and due from banks and restricted cash

10,898

12,715

-191,760

257,427

7,829

2,159

-28,586

-14,983

46,072

8,439

4,541

Non-cash activities
Cash paid during the period for
Interest

52,315

36,447

20,219

13,201

8,928

7,243

9,969

14,151

18,464

24,279

30,923

Income taxes

20,006

2,317

6,008

10,912

10,562

11,801

8,136

9,018

18,210

10,509

9,869

Reclassification of securities available-for-sale to held-to-maturity

-

-

-

-

-

-

536,010

-

-

-

-

Accretion of unrealized loss on securities reclassified to held-to-maturity

991

2,905

1,145

1,406

1,375

1,218

206

-

-

-

-

Net loan charge-offs

1,361

2,634

3,907

4,162

870

7,243

2,380

5,620

9,220

3,023

-

Transfer of premises and equipment to assets held-for-sale

2,189

11,092

5,729

0

0

-

-

-

-

-

-

Transfer of loans receivable to other real estate owned

963

992

3,726

1,833

6,979

4,289

3,356

4,050

2,917

1,443

2,376

Non-cash assets acquired
Securities

103,775

254,522

0

305,139

6,758

-

-

-

-

-

-

Restricted equity investments

313

16,967

0

7,932

314

-

-

-

-

-

-

Loans

307,778

1,517,345

0

1,929,986

121,466

-

-

-

-

-

-

Premises and equipment

3,389

19,892

0

41,067

-

-

-

-

-

-

-

Accrued interest receivable

-

-

-

2,727

257

-

-

-

-

-

-

Accrued interest receivable

1,390

5,621

0

0

-

-

-

-

-

-

-

Bank Owned Life Insurance

10,460

85,238

0

0

-

-

-

-

-

-

-

Deferred tax asset

3,967

57,574

0

21,878

3,227

-

-

-

-

-

-

Other assets

1,278

6,343

0

97,140

8,279

-

-

-

-

-

-

Goodwill and other intangible assets, net

38,875

199,838

0

159,649

2,099

-

-

-

-

-

-

Total non-cash assets acquired

471,225

2,163,340

0

2,565,518

142,400

-

-

-

-

-

-

Liabilities assumed
Deposits

449,018

1,616,073

0

2,123,440

123,346

-

-

-

-

-

-

Borrowings

0

127,727

0

128,160

6,800

-

-

-

-

-

-

Other liabilities

5,121

13,242

0

27,679

309

-

-

-

-

-

-

Total liabilities assumed

454,139

1,757,042

0

2,279,279

130,455

-

-

-

-

-

-

Total consideration for acquisition

-

-

-

286,239

11,945

-

-

-

-

-

-

Mortgage-backed Securities Held-to-Maturity
Principal repayments on debt

123,833

119,125

96,383

73,470

61,081

57,199

24,017

-

-

-

-