OceanFirst Financial Corp. (OCFC) financial statements (2022 and earlier)

Company profile

Business Address 975 HOOPER AVE
TOMS RIVER, NJ 08753-8396
State of Incorp. DE
Fiscal Year End December 31
SIC 6035 - Savings Institutions, Federally Chartered (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2051,27212112111030144
Cash and cash equivalents2051,27212112111030144
Total current assets:2051,27212112111030144
Noncurrent Assets
Finance lease, right-of-use asset122
Operating lease, right-of-use asset172319
Property, plant and equipment   1111027128
Intangible assets, net (including goodwill)5195243903551591562
Goodwill5005003753381511452
Intangible assets, net (excluding goodwill)182416179110
Deferred income tax assets  50
Total noncurrent assets:53754846146726122730
Other undisclosed assets10,9979,6287,6656,9295,0454,6382,519
TOTAL ASSETS:11,74011,4488,2467,5165,4165,1672,593
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt11912843134217772165
Total current liabilities:11912843134217772165
Noncurrent Liabilities
Other undisclosed liabilities10,1049,8366,6626,1354,6374,5232,190
Total liabilities:10,2239,9647,0936,4774,8144,5952,355
Stockholders' equity
Stockholders' equity attributable to parent, including:1,5171,4841,1531,039602572238
Preferred stock00     
Common stock1110000
Treasury stock, value(62)(26)(37)(11)(16)(23)(252)
Additional paid in capital1,1471,138841758354364270
Accumulated other comprehensive income (loss)(3)1(1)(3)(5)(6)(6)
Retained earnings442378359305271238229
Other undisclosed stockholders' equity attributable to parent(9)(7)(9)(10)(2)(3)(3)
Total stockholders' equity:1,5171,4841,1531,039602572238
TOTAL LIABILITIES AND EQUITY:11,74011,4488,2467,5165,4165,1672,593

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues31534928025018813688
Net investment income31534928025017112378
Cost of revenue (59)(2)(3)(4)(3)(1)
Provision for loan, lease, and other losses (59)(2)(3)
Financial services costs(4)(3)(1)
Gross profit:31529027824618313387
Operating expenses(227)(246)(189)(186)(127)(103)(61)
Other operating income, net
(Noninterest Income, Other Operating Income)
1162000
Operating income:90449562573126
Nonoperating income111551211
Investment income, nonoperating48     
Bank owned life insurance income7655322
Profit (loss) from real estate operations(0)0(0)(4)(1)(1)(0)
Interest and debt expense(37)(67)(53)(36)(20)(13)(9)
Income (loss) from continuing operations before equity method investments, income taxes:64(8)4727401919
Other undisclosed income from continuing operations before income taxes79896059251613
Income from continuing operations before income taxes:1428110786653531
Income tax expense(32)(18)(19)(14)(23)(12)(11)
Net income attributable to parent:110638972422320
Preferred stock dividends and other adjustments(4)(2)     
Net income available to common stockholders, diluted:106618972422320

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:110638972422320
Other comprehensive income (loss)(3)222011
Comprehensive income, net of tax, attributable to parent:107659174432421

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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