Oceanfirst Bank Mortgage Rates, Fees & Info

Toms River, NJ

LEI: 5493002N5168AC238149

Tax ID: 21-0607451

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Oceanfirst Bank is a smaller bank specializing in Home Purchase and Refi loans. Oceanfirst Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: New York, Ocean City, Philadelphia, Atlantic City, and Vineland among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Oceanfirst Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Oceanfirst Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.85% 12/16/24
    30 Year Conventional Purchase 6.05% 12/16/24
    30 Year Conventional Refi 6.07% 12/16/24
    30 Year Cash-out Refi 5.98% 12/16/24
    15 Year Conventional Purchase 5.64% 12/16/24
    15 Year Conventional Refi 6.14% 12/16/24
    15 Year Cash-out Refi 6.14% 12/16/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Oceanfirst Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Oceanfirst Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    2,140

    Origination Dollar Volume (All Markets)

    $705,220,000

    Employee count

    886 Show all (7) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1,226 $390,550,000 $318,556 $3,370 4.20%
    OCEAN CITY, NJ (FHA|USDA|VA) 338 $140,460,000 $415,562 $3,958 4.07%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 192 $87,360,000 $455,000 $3,091 3.97%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 267 $58,045,000 $217,397 $2,635 4.25%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 65 $10,435,000 $160,538 $901 4.54%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 29 $8,085,000 $278,793 $3,482 3.87%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $2,425,000 $2,425,000 $0 4.33%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 2 $2,030,000 $1,015,000 $12,687 3.38%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $955,000 $955,000 $12,697 3.50%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $720,000 $360,000 $3,579 3.63%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $640,000 $320,000 $3,627 3.63%
    Outside of Metro Areas 3 $585,000 $195,000 $3,293 4.08%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $465,000 $465,000 $2,875 3.88%
    Easton, MD (FHA|USDA|VA) 1 $425,000 $425,000 $3,239 3.75%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $405,000 $405,000 $9,825 3.99%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $375,000 $125,000 $1,876 3.88%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $345,000 $345,000 $2,313 2.88%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $265,000 $265,000 $2,894 5.25%
    Georgetown, SC (FHA|USDA|VA) 1 $205,000 $205,000 $2,671 3.63%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $205,000 $205,000 $2,942 3.00%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $125,000 $125,000 $1,992 5.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $115,000 $115,000 $2,488 3.00%
    Oceanfirst Bank's top markets include New York, Ocean City, Philadelphia, Atlantic City, and Vineland among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against OceanFirst Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    N C P D Federal Credit Union
    Similarity Rank: 56
    Schuyler Savings Bank
    Similarity Rank: 104
    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 122
    Union County Savings Bank
    Similarity Rank: 150
    Prudential Bank
    Similarity Rank: 162
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 192
    Blue Foundry Bank
    Similarity Rank: 212
    Bogota Savings Bank
    Similarity Rank: 246
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 266
    FUNDING RESOURCES MORTGAGE CORPORATION
    Similarity Rank: 292

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,946 $681,590,000 $350,252 $3,290 3.95%
    HELOC 191 $22,815,000 $119,450 n/a 6.29%
    FHA 2 $700,000 $350,000 $9,623 4.06%
    VA 1 $115,000 $115,000 $2,646 3.38%

    For 2019, Oceanfirst Bank's most frequently originated type of loan was Conventional, with 1,946 originations. Their 2nd most popular type was HELOC, with 191 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 839 $357,785,000 $426,442 $4,946 3.86%
    Refi 581 $196,745,000 $338,632 $2,373 4.00%
    Other 261 $28,305,000 $108,448 $772 5.25%
    Cash Out Refi 261 $89,925,000 $344,540 $3,244 3.67%
    Home Improvement 198 $32,460,000 $163,939 $85 5.15%

    For 2019, Oceanfirst Bank's most frequently cited loan purpose was Home Purchase, with 839 originations. The 2nd most popular reason was Refi, with 581 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,170 $486,510,000 $415,821 $4,476 3.83%
    15 Year 377 $80,965,000 $214,761 $2,151 3.70%
    20 Year 334 $48,580,000 $145,449 $959 5.63%
    10 Year 163 $48,195,000 $295,675 $329 4.50%
    5 Year 76 $7,730,000 $101,711 $6 4.34%
    Other 19 $32,975,000 $1,735,526 $2,720 4.41%
    3 Year 1 $265,000 $265,000 $0 6.00%

    For 2019, Oceanfirst Bank's most frequently cited loan duration was 30 Year, with 1,170 originations. The 2nd most popular length was 15 Year, with 377 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,632 $457,510,000 $280,337
    $1k-2k 78 $21,530,000 $276,026
    $2k-3k 64 $30,310,000 $473,594
    $5k+ 57 $62,395,000 $1,094,649
    $3k-4k 38 $18,090,000 $476,053
    $4k-5k 26 $17,510,000 $673,462

    Oceanfirst Bank's average total fees were $4,476, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,632 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,047 $459,265,000 $438,649
    4-5% 595 $136,515,000 $229,437
    5-6% 190 $26,880,000 $141,474
    2.5-3% 170 $46,790,000 $275,235
    6-7% 129 $33,685,000 $261,124
    7-8% 9 $2,085,000 $231,667

    During 2019, Oceanfirst Bank's average interest rate for loans was 3.83%, while their most frequently originated rate bucket for loans was 3-4%, with 1,047 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 651 $183,935,000 $282,542 $3,363 3.87%
    $100,000 or less 479 $23,265,000 $48,570 $370 4.97%
    $100k-200k 440 $64,670,000 $146,977 $2,274 4.28%
    $400k-600k 290 $138,950,000 $479,138 $4,703 3.70%
    $600k-1MM 202 $149,900,000 $742,079 $6,361 3.72%
    $1MM+ 78 $144,500,000 $1,852,564 $10,915 3.87%

    2019 saw Oceanfirst Bank place emphasis on $200k-400k loans with 651 originations, totaling $183,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 512 $171,410,000 $334,785 $3,867 4.04%
    $250k+ 458 $271,480,000 $592,751 $5,398 3.90%
    $100k-150k 447 $98,095,000 $219,452 $2,690 4.21%
    $50k-75k 287 $34,345,000 $119,669 $1,654 4.44%
    $75k-100k 233 $38,495,000 $165,215 $2,030 4.29%
    $50k or less 122 $9,170,000 $75,164 $1,053 4.53%

    Oceanfirst Bank lent most frequently to those with incomes in the $150k-250k range, with 512 originations. The second most popular income band? $250k+, with 458 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 548 $166,130,000 $303,157 $3,332 4.04%
    30-36% 431 $145,935,000 $338,596 $3,573 4.02%
    <20% 226 $85,990,000 $380,487 $3,822 3.79%
    42% 122 $24,600,000 $201,639 $2,120 4.46%
    38% 98 $27,710,000 $282,755 $2,733 4.11%
    36% 98 $23,130,000 $236,020 $2,941 4.14%
    41% 95 $26,855,000 $282,684 $2,905 4.26%
    39% 93 $25,995,000 $279,516 $2,868 4.33%
    40% 78 $20,900,000 $267,949 $3,160 4.26%
    37% 73 $19,325,000 $264,726 $3,186 4.42%
    43% 71 $22,145,000 $311,901 $3,957 4.45%
    44% 60 $13,530,000 $225,500 $2,938 4.91%
    45% 43 $7,905,000 $183,837 $3,343 5.02%
    46% 19 $9,355,000 $492,368 $4,203 4.03%
    48% 12 $4,500,000 $375,000 $3,777 3.78%
    49% 9 $3,265,000 $362,778 $3,734 3.83%
    47% 5 $1,225,000 $245,000 $2,780 3.80%
    50-60% 3 $1,425,000 $475,000 $7,778 3.96%
    >60% 2 $240,000 $120,000 $0 5.50%

    Oceanfirst Bank lent most frequently to those with DTI ratios of 20-30%, with 548 originations. The next most common DTI ratio? 30-36%, with 431 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,806 $533,140,000 $295,205 $3,225 4.17%
    Not provided 219 $78,605,000 $358,927 $4,009 4.00%
    Not applicable 46 $73,570,000 $1,599,348 $0 4.85%
    Asian 48 $15,490,000 $322,708 $3,319 3.84%
    Black 14 $3,210,000 $229,286 $2,345 4.26%
    American Indian 2 $540,000 $270,000 $3,269 3.94%
    Other Asian 1 $335,000 $335,000 $2,870 3.50%
    Asian Indian 2 $230,000 $115,000 $0 5.00%
    Other Pacific Islander 1 $55,000 $55,000 $0 5.88%
    Native Hawaiian or Islander 1 $45,000 $45,000 $0 4.25%

    Approval Rates

    Total approvals of all applications
    82.84%

    Oceanfirst Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    86.26%

    Oceanfirst Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,140 $705,220,000 $329,542

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 28 $63,310,000 $2,261,071
    Single Family (1-4 Units):Site-Built 2,112 $641,910,000 $303,935

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 271 $46,405,000 $171,236 $1,866 4.67%
    40-60% 342 $133,170,000 $389,386 $3,234 3.94%
    60-80% 806 $365,300,000 $453,226 $4,275 3.85%
    80-100% 387 $142,385,000 $367,920 $4,113 3.81%
    Under 20% 334 $17,960,000 $53,772 $208 5.16%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Ocwen Financial Corporation Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 44 3.1%
    Ocwen Financial Corporation Conventional home mortgage Closing on a mortgage 58 4.0%
    Ocwen Financial Corporation Conventional home mortgage Improper use of your report 2 0.1%
    Ocwen Financial Corporation Conventional home mortgage Incorrect information on your report 15 1.0%
    Ocwen Financial Corporation Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 6 0.4%
    Ocwen Financial Corporation Conventional home mortgage Struggling to pay mortgage 453 31.5%
    Ocwen Financial Corporation Conventional home mortgage Trouble during payment process 511 35.6%
    Ocwen Financial Corporation FHA mortgage Applying for a mortgage or refinancing an existing mortgage 4 0.3%
    Ocwen Financial Corporation FHA mortgage Closing on a mortgage 6 0.4%
    Ocwen Financial Corporation FHA mortgage Incorrect information on your report 5 0.3%
    Ocwen Financial Corporation FHA mortgage Problem with a credit reporting company's investigation into an existing problem 1 0.1%
    Ocwen Financial Corporation FHA mortgage Struggling to pay mortgage 69 4.8%
    Ocwen Financial Corporation FHA mortgage Trouble during payment process 54 3.8%
    Ocwen Financial Corporation Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 3 0.2%
    Ocwen Financial Corporation Home equity loan or line of credit (HELOC) Closing on a mortgage 4 0.3%
    Ocwen Financial Corporation Home equity loan or line of credit (HELOC) Struggling to pay mortgage 14 1.0%
    Ocwen Financial Corporation Home equity loan or line of credit (HELOC) Trouble during payment process 24 1.7%
    Ocwen Financial Corporation Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 3 0.2%
    Ocwen Financial Corporation Other type of mortgage Closing on a mortgage 8 0.6%
    Ocwen Financial Corporation Other type of mortgage Incorrect information on your report 4 0.3%
    Ocwen Financial Corporation Other type of mortgage Struggling to pay mortgage 59 4.1%
    Ocwen Financial Corporation Other type of mortgage Trouble during payment process 48 3.3%
    Ocwen Financial Corporation Reverse mortgage Applying for a mortgage or refinancing an existing mortgage 1 0.1%
    Ocwen Financial Corporation Reverse mortgage Closing on a mortgage 1 0.1%
    Ocwen Financial Corporation Reverse mortgage Struggling to pay mortgage 7 0.5%
    Ocwen Financial Corporation Reverse mortgage Trouble during payment process 5 0.3%
    Ocwen Financial Corporation VA mortgage Applying for a mortgage or refinancing an existing mortgage 2 0.1%
    Ocwen Financial Corporation VA mortgage Closing on a mortgage 4 0.3%
    Ocwen Financial Corporation VA mortgage Incorrect information on your report 1 0.1%
    Ocwen Financial Corporation VA mortgage Struggling to pay mortgage 7 0.5%
    Ocwen Financial Corporation VA mortgage Trouble during payment process 13 0.9%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    OceanFirst Bank, National Association 1 North Main Street Pennington, NJ 8534 Full Service B&M $43,245
    OceanFirst Bank, National Association 10 Leesville Road Jackson, NJ 8527 Full Service B&M $117,473
    OceanFirst Bank, National Association 1001 Asbury Ave Ocean City, NJ 8226 Full Service B&M $157,108
    OceanFirst Bank, National Association 105 Roosevelt Blvd Marmora, NJ 8223 Full Service B&M $112,446
    OceanFirst Bank, National Association 110 West Front Street Red Bank, NJ 7701 Full Service B&M $52,394
    OceanFirst Bank, National Association 1107 N High Street Millville, NJ 8332 Full Service B&M $137,009
    OceanFirst Bank, National Association 1234 West Landis Avenue Vineland, NJ 8360 Full Service B&M $208,231
    OceanFirst Bank, National Association 1245 Highway 77 Bridgeton, NJ 8302 Full Service B&M $49,221
    OceanFirst Bank, National Association 12th Street And First Road Hammonton, NJ 8037 Full Service B&M $143,208
    OceanFirst Bank, National Association 1320 Black Horse Pike Glendora, NJ 8029 Full Service B&M $77,211
    OceanFirst Bank, National Association 141 Egg Harbor Road Sewell, NJ 8080 Full Service B&M $142,693
    OceanFirst Bank, National Association 147 Route 70, Suite 1 Toms River, NJ 8755 Full Service B&M $93,121
    OceanFirst Bank, National Association 1600 Perrineville Road Monroe Township, NJ 8831 Full Service B&M $44,892
    OceanFirst Bank, National Association 175 South Main Road Vineland, NJ 8360 Full Service B&M $298,761
    OceanFirst Bank, National Association 1777 New Road Linwood, NJ 8221 Full Service B&M $184,145
    OceanFirst Bank, National Association 1801 Atlantic Avenue Atlantic City, NJ 8401 Full Service B&M $136,245
    OceanFirst Bank, National Association 1899 Bayshore Road Villas, NJ 8251 Full Service B&M $64,842
    OceanFirst Bank, National Association 191 Route 9 South Manalapan, NJ 7726 Full Service B&M $55,317
    OceanFirst Bank, National Association 205 Route 72 West Manahawkin, NJ 8050 Full Service B&M $171,795
    OceanFirst Bank, National Association 217 Jackson St Cape May, NJ 8204 Full Service B&M $47,335
    OceanFirst Bank, National Association 224 South Main Street Flemington, NJ 8822 Full Service B&M $65,257
    OceanFirst Bank, National Association 225 North Main Street Cape May Court House, NJ 8210 Full Service B&M $84,546
    OceanFirst Bank, National Association 2251 Ocean Heights Avenue Egg Harbor Township, NJ 8234 Full Service B&M $96,815
    OceanFirst Bank, National Association 2400 Bridge Avenue Point Pleasant, NJ 8742 Full Service B&M $145,905
    OceanFirst Bank, National Association 2401 Route 71 Spring Lake, NJ 7762 Full Service B&M $82,482
    OceanFirst Bank, National Association 2445 Route 34 Manasquan, NJ 8736 Full Service B&M $167,992
    OceanFirst Bank, National Association 267 Main Street Matawan, NJ 7747 Full Service B&M $108,657
    OceanFirst Bank, National Association 303 Village Center Drive Logan Township, NJ 8085 Full Service B&M $50,453
    OceanFirst Bank, National Association 308 West Main Street Freehold, NJ 7728 Full Service B&M $192,050
    OceanFirst Bank, National Association 3100 Route 88 Point Pleasant Boro, NJ 8742 Full Service B&M $42,670
    OceanFirst Bank, National Association 3101 New Jersey Avenue Wildwood, NJ 8260 Full Service B&M $39,478
    OceanFirst Bank, National Association 320 E. Jimmie Leeds Road Galloway, NJ 8205 Full Service B&M $138,786
    OceanFirst Bank, National Association 321 Chambers Bridge Road Brick, NJ 8723 Full Service B&M $198,869
    OceanFirst Bank, National Association 3534 Rt. 27 Kendall Park, NJ 8824 Full Service B&M $37,794
    OceanFirst Bank, National Association 3707 Route 9 S Rio Grande, NJ 8242 Full Service B&M $30,786
    OceanFirst Bank, National Association 376 Tilton Road Northfield, NJ 8225 Full Service B&M $77,574
    OceanFirst Bank, National Association 400 Lacey Road Whiting, NJ 8759 Full Service B&M $98,273
    OceanFirst Bank, National Association 400 Route 34 Colts Neck, NJ 7722 Full Service B&M $37,577
    OceanFirst Bank, National Association 411 Route 33 Trenton, NJ 8619 Full Service B&M $62,597
    OceanFirst Bank, National Association 425 Route 9 South Little Egg Harbor, NJ 8087 Full Service B&M $138,726
    OceanFirst Bank, National Association 490 Shrewsbury Plaza Shrewsbury, NJ 7702 Full Service B&M $106,864
    OceanFirst Bank, National Association 52 Centennial Drive Long Branch, NJ 7740 Full Service B&M $21,308
    OceanFirst Bank, National Association 5401 Harding Hwy Mays Landing, NJ 8330 Full Service B&M $158,965
    OceanFirst Bank, National Association 55 Bananier Drive Toms River, NJ 8755 Full Service B&M $125,779
    OceanFirst Bank, National Association 597 Route 38 West Maple Shade, NJ 8052 Full Service B&M $47,928
    OceanFirst Bank, National Association 627 Haddon Ave Collingswood, NJ 8108 Full Service B&M $88,143
    OceanFirst Bank, National Association 6302 Ventnor Avenue Ventnor, NJ 8406 Full Service B&M $92,121
    OceanFirst Bank, National Association 70 Brick Blvd. Brick, NJ 8723 Full Service B&M $76,037
    OceanFirst Bank, National Association 701 Arnold Ave. Point Pleasant, NJ 8742 Full Service B&M $70,448
    OceanFirst Bank, National Association 741 Route 73 S Marlton, NJ 8053 Full Service B&M $23,144
    OceanFirst Bank, National Association 791 Route 9 Bayville, NJ 8721 Full Service B&M $79,087
    OceanFirst Bank, National Association 801 White Horse Pike Egg Harbor City, NJ 8215 Full Service B&M $53,593
    OceanFirst Bank, National Association 845 W. Bay Avenue Barnegat, NJ 8005 Full Service B&M $90,731
    OceanFirst Bank, National Association 845 West Bay Avenue Barnegat, NJ 8005 Full Service Cyber Office $1
    OceanFirst Bank, National Association 85 W Broad St. Bridgeton, NJ 8302 Full Service B&M $166,488
    OceanFirst Bank, National Association 890 Mantua Pike Woodbury Heights, NJ 8097 Full Service B&M $123,822
    OceanFirst Bank, National Association 900 Lacey Road Forked River, NJ 8731 Full Service B&M $133,436
    OceanFirst Bank, National Association 975 Hooper Avenue Toms River, NJ 8753 Full Service B&M $315,170
    OceanFirst Bank, National Association 99 Hartford Road Medford, NJ 8055 Full Service B&M $46,415
    OceanFirst Bank, National Association Black Horse Pike & Fire Road Egg Harbor Township, NJ 8234 Full Service B&M $61,856
    OceanFirst Bank, National Association Essex & Ventnor Avenue Margate City, NJ 8402 Full Service B&M $100,686

    For 2019, Oceanfirst Bank had 61 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $309,408
    Net interest income $261,239
    Total noninterest income $42,229
    Gross Fiduciary activities income $2,102
    Service charges on deposit accounts $14,891
    Trading account gains and fees $0
    Additional Noninterest Income $25,236
    Pre-tax net operating income $112,544
    Securities gains (or losses, -) $267
    Income before extraordinary items $93,134
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $93,134
    Minority interest net income $0
    Net income $93,134
    Sale, conversion, retirement of capital stock, net $5,438
    Net operating income $92,912

    Oceanfirst Bank's gross interest income from loans was $309,408,000.
    Oceanfirst Bank's net interest income from loans was $261,239,000.
    Oceanfirst Bank's fee based income from loans was $14,891,000.
    Oceanfirst Bank's net income from loans was $93,134,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $48,169
    Provision for credit losses $1,637
    Total noninterest expense $189,287
    Salaries and employee benefits $88,829
    Premises and equipment expense $24,886
    Additional noninterest expense $75,572
    Applicable income taxes $19,677
    Net charge-offs $1,362
    Cash dividends $79,000

    Oceanfirst Bank's interest expense for loans was $48,169,000.
    Oceanfirst Bank's payroll and benefits expense were $88,829,000.
    Oceanfirst Bank's property, plant and equipment expenses $24,886,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $6,351,466
    Deposits held in domestic offices $6,351,466
    Deposits by Individuals, partnerships, and corporations $4,787,172
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $1,558,574
    Deposits by Commercial banks and other depository institutions in U.S. $5,720
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $782,376
    Demand deposits $428,953
    Nontransaction accounts $5,569,090
    Money market deposit accounts (MMDAs) $579,608
    Other savings deposits (excluding MMDAs) $4,053,621
    Total time deposits $935,862
    Total time and savings deposits $5,922,513
    Noninterest-bearing deposits $365,517
    Interest-bearing deposits $5,985,949
    Retail deposits $6,206,384
    IRAs and Keogh plan accounts $175,939
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $8,253,751
    Cash & Balances due from depository institutions $112,806
    Interest-bearing balances $34,867
    Total securities $933,398
    Federal funds sold & reverse repurchase $0
    Net loans and leases $6,207,680
    Loan and leases loss allowance $16,852
    Trading account assets $0
    Bank premises and fixed assets $125,157
    Other real estate owned $264
    Goodwill and other intangibles $390,282
    All other assets $484,164

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $8,253,751
    Total Liabilities $7,050,619
    Total deposits $6,351,466
    Interest-bearing deposits $5,985,949
    Deposits held in domestic offices $6,351,466
    % insured (estimated) $56
    Federal funds purchased and repurchase agreements $71,739
    Trading liabilities $0
    Other borrowed funds $577,231
    Subordinated debt $0
    All other liabilities $50,183

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $6,207,680
    Loan and leases loss allowance $16,852
    Total loans and leases (domestic) $6,224,532
    All real estate loans $5,776,591
    Real estate loans in domestic offices $5,776,591
    Construction and development loans $232,465
    Residential 1-4 family construction $108,694
    Other construction, all land development and other land $123,771
    Loans secured by nonfarm nonresidential properties $2,197,100
    Nonfarm nonresidential secured by owner-occupied properties $792,653
    Commercial real estate & other non-farm, non-residential $1,404,447
    Multifamily residential real estate $516,279
    1-4 family residential loans $2,827,235
    Farmland loans $3,512
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $330,293
    To non-U.S. addressees $0
    Loans to individuals $99,342
    Credit card loans $0
    Related Plans $1,925
    Consumer Auto Loans $77
    Other loans to individuals $97,340
    All other loans & leases $18,306
    Loans to foreign governments and official institutions $0
    Other loans $5,144
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $29,552
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $16,892
    Non 1-4 family restructured loans & leases $5,061
    Total loans and leases (foreign) $0

    OceanFirst Bank had $6,207,680,000 of loans outstanding in 2019. $5,776,591,000 of loans were in real estate loans. $232,465,000 of loans were in development loans. $516,279,000 of loans were in multifamily mortgage loans. $2,827,235,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $77,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 2,036 $514,615 $252,758
    Nonfarm, nonresidential loans - <$100k 345 $15,265 $44,246
    Nonfarm, nonresidential loans - $100-250k 625 $77,967 $124,747
    Nonfarm, nonresidential loans - $250k-1MM 1,066 $421,383 $395,294
    Commercial & Industrial, US addressed loans - <$1MM 732 $106,294 $145,210
    Commercial & Industrial, US addressed loans - <$100k 331 $12,199 $36,855
    Commercial & Industrial, US addressed loans - $100-250k 170 $17,358 $102,106
    Commercial & Industrial, US addressed loans - $250k-1MM 231 $76,737 $332,195
    Farmland loans - <$1MM 1 $165 $165,000
    Farmland loans - $100-250k 1 $165 $165,000