Oceanfirst financial corp (OCFC)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Interest income
Loans

279,931

249,549

170,588

122,962

77,694

70,564

69,863

76,168

82,994

88,180

90,595

Mortgage-backed securities

15,300

16,034

11,108

6,697

6,051

6,845

7,403

8,509

10,060

11,503

3,512

Debt securities, equity investments and other

13,563

11,071

7,133

3,766

2,118

2,444

2,891

2,938

2,333

1,684

1,754

Total interest income

308,794

276,654

188,829

133,425

85,863

79,853

80,157

87,615

95,387

101,367

95,861

Interest expense
Deposits

38,432

22,578

12,336

7,517

4,301

4,103

4,709

7,547

10,401

14,340

18,032

Borrowed funds

14,391

13,574

7,275

5,646

4,733

3,402

4,919

6,556

7,659

9,913

12,366

Total interest expense

52,823

36,152

19,611

13,163

9,034

7,505

9,628

14,103

18,060

24,253

30,398

Net interest income

255,971

240,502

169,218

120,262

76,829

72,348

70,529

73,512

77,327

77,114

65,463

Credit loss expense

1,636

3,490

4,445

2,623

1,275

2,630

2,800

7,900

7,750

8,000

5,700

Net interest income after credit loss expense

254,335

237,012

164,773

117,639

75,554

69,718

67,729

65,612

69,577

69,114

59,763

Other income
Bankcard services revenue

10,263

9,228

6,965

4,833

3,537

3,478

3,584

3,100

2,665

-

-

Net loss on sale of investment securities available-for-sale

-

-

-

-

-

1,031

46

226

-

-

-

Loan servicing income

-

-

-

-

-

816

748

538

427

292

-18

Net gain on sale of loan servicing

-

-

-

-

-

408

-

-

-

-

-

Gain (Loss) on Sale of Mortgage Loans

16

668

100

986

-

772

1,163

3,466

3,002

3,657

3,895

Net unrealized gain on equity investments

267

-199

0

0

-

-

-

-

-

-

-

Net loss from other real estate operations

-330

-3,812

-874

-856

-149

-390

-161

-10

-623

-701

-2

Net gain on sales and other than temporary impairment loss on investment securities available-for-sale (note 3)

-

-

-

-

-

-

-

-

-148

-

-

Other than temporary impairment losses on investment securities and net loss on sales of securities available for sale (note 3)

-

-

-

-

-

-

-

-

-

-

4

Bank Owned Life Insurance Income

5,420

5,105

3,299

2,230

1,501

1,477

1,404

1,338

1,172

845

835

Other

5,927

2,131

374

137

958

116

49

12

40

5

377

Total other income

42,165

34,827

27,072

20,412

16,426

18,577

16,458

17,724

15,301

15,312

15,589

Operating expenses
Compensation and employee benefits

89,912

83,135

60,100

47,105

31,946

31,427

28,762

27,610

28,077

28,148

24,014

Occupancy

17,159

17,915

10,657

8,332

5,722

5,510

5,562

5,074

5,066

5,501

5,991

Equipment

7,719

8,319

6,769

5,104

3,725

3,278

2,724

2,632

2,436

2,196

2,141

Marketing

3,469

3,415

2,678

1,882

1,516

1,795

1,632

1,633

1,766

1,745

1,767

Federal deposit insurance and regulatory assessments

2,227

3,713

2,564

2,825

2,072

2,128

2,141

2,113

2,553

2,705

3,099

Data processing

14,814

13,286

8,849

7,577

4,731

4,239

3,996

3,632

3,593

3,426

3,388

Legal

-

-

-

-

-

-

-

-

-

-

1,464

Check card processing

5,956

4,209

3,561

2,210

1,815

1,934

1,768

1,455

1,197

1,250

1,079

Professional fees

9,338

4,963

3,995

2,848

1,865

2,267

2,449

2,546

1,931

2,352

689

Other operating expense

14,968

13,509

10,810

7,676

5,484

5,186

5,366

5,694

6,045

6,324

5,627

Amortization of core deposit intangible

4,027

3,811

2,039

623

21

-

-

-

-

-

-

Federal Home Loan Bank advance prepayment fee

-

-

-

136

0

0

4,265

-

-

-

-

Branch consolidation expense

9,050

3,151

6,205

0

0

-

579

-

-

-

-

Merger related expenses

10,503

26,911

8,293

16,534

1,878

-

-

-

-

-

1,285

Total operating expenses

189,142

186,337

126,520

102,852

60,775

57,764

59,244

52,389

52,664

53,647

50,544

Income before provision for income taxes

107,358

85,502

65,325

35,199

31,205

30,531

24,943

30,947

32,214

30,779

24,808

Provision for income taxes

18,784

13,570

22,855

12,153

10,883

10,611

8,613

10,927

11,473

10,401

9,155

Net Income (Loss) Attributable to Parent

88,574

71,932

42,470

23,046

20,322

19,920

16,330

20,020

20,741

20,378

15,653

Dividends on preferred stock and discount accretion (note 18)

-

-

-

-

-

-

-

-

-

-

3,170

Net income available to common stockholders

-

-

-

-

-

-

-

-

-

-

12,483

Basic earnings per share (in dollars per share)

1.77

1.54

1.32

1.00

1.22

1.19

0.96

1.13

1.14

1.12

0.98

Diluted earnings per share (in dollars per share)

1.75

1.51

1.28

0.98

1.21

1.19

0.95

1.12

1.14

1.12

0.98

Weighted Average Number of Shares Outstanding, Basic

50,166

46,773

32,113

23,093

16,600

16,687

17,071

17,730

18,191

18,142

12,737

Weighted Average Number of Shares Outstanding, Diluted

50,746

47,657

33,125

23,526

16,811

16,797

17,157

17,829

18,240

18,191

12,784

Trust and asset management revenue
Other income

2,102

2,245

2,150

2,324

2,187

2,280

2,174

1,512

1,166

-

-

Fees and service charges
Other income

18,500

19,461

15,058

10,758

8,392

8,589

7,451

7,542

7,600

11,214

10,506