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 small 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 26 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 an average 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% 4/18/24
    30 Year Conventional Purchase 6.05% 4/18/24
    30 Year Conventional Refi 6.07% 4/18/24
    30 Year Cash-out Refi 5.98% 4/18/24
    15 Year Conventional Purchase 5.64% 4/18/24
    15 Year Conventional Refi 6.14% 4/18/24
    15 Year Cash-out Refi 6.14% 4/18/24
    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

    2,436

    Origination Dollar Volume (All Markets)

    $1,027,120,000

    Employee count

    985

    Awards

    OceanFirst Bank 30 Year Conventional Loans gold
    Show all (1) 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) 1,405 $605,435,000 $430,915 $4,049 3.66%
    OCEAN CITY, NJ (FHA|USDA|VA) 350 $179,510,000 $512,886 $4,676 3.43%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 257 $110,015,000 $428,074 $3,891 3.46%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 305 $93,255,000 $305,754 $3,568 3.56%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 51 $9,425,000 $184,804 $1,747 3.71%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 22 $7,420,000 $337,273 $4,103 3.53%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 4 $4,230,000 $1,057,500 $5,984 3.50%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 6 $2,900,000 $483,333 $4,425 3.25%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 4 $2,360,000 $590,000 $5,661 3.31%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 3 $2,295,000 $765,000 $4,722 3.46%
    SALISBURY, MD-DE (FHA|USDA|VA) 4 $2,180,000 $545,000 $4,123 3.34%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 6 $1,520,000 $253,333 $3,920 3.29%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 3 $1,075,000 $358,333 $3,753 3.54%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $860,000 $430,000 $3,683 3.63%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $640,000 $320,000 $3,531 3.31%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $565,000 $565,000 $5,898 3.13%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $485,000 $485,000 $5,891 3.38%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $425,000 $425,000 $3,121 3.25%
    Outside of Metro Areas 2 $420,000 $210,000 $3,229 3.13%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $405,000 $405,000 $2,766 3.38%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $315,000 $315,000 $2,359 3.38%
    Key West, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,652 3.00%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,119 2.88%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $285,000 $285,000 $3,419 3.63%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $255,000 $255,000 $3,371 3.38%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $235,000 $235,000 $3,812 3.38%
    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)
  • Florida (FHA|USDA|VA)
  • Delaware (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.

    The First National Bank of Long Island
    Similarity Rank: 134
    North Jersey Federal Credit Union
    Similarity Rank: 247
    Princeton Federal Credit Union
    Similarity Rank: 450
    N C P D Federal Credit Union
    Similarity Rank: 482
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 538
    First Citizens Community Bank
    Similarity Rank: 589
    BHCU
    Similarity Rank: 625
    Prudential Bank
    Similarity Rank: 640
    TEG Federal Credit Union
    Similarity Rank: 715
    Hanover Community Bank
    Similarity Rank: 727

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,200 $995,210,000 $452,368 $4,012 3.48%
    HELOC 230 $29,910,000 $130,043 n/a 4.60%
    FHA 5 $1,705,000 $341,000 $9,939 3.10%
    VA 1 $295,000 $295,000 $3,568 3.25%

    For 2020, Oceanfirst Bank's most frequently originated type of loan was Conventional, with 2,200 originations. Their 2nd most popular type was HELOC, with 230 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 921 $485,455,000 $527,096 $5,575 3.45%
    Refi 851 $385,605,000 $453,120 $3,037 3.46%
    Cash Out Refi 313 $112,475,000 $359,345 $3,653 3.36%
    Other 206 $29,930,000 $145,291 $1,423 4.41%
    Home Improvement 143 $12,845,000 $89,825 $336 4.56%
    NA 2 $810,000 $405,000 $3,390 3.13%

    For 2020, Oceanfirst Bank's most frequently cited loan purpose was Home Purchase, with 921 originations. The 2nd most popular reason was Refi, with 851 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,495 $701,695,000 $469,361 $4,826 3.43%
    20 Year 398 $62,650,000 $157,412 $1,474 4.36%
    15 Year 359 $92,625,000 $258,008 $2,916 3.26%
    10 Year 93 $83,215,000 $894,785 $645 3.95%
    Other 46 $61,620,000 $1,339,565 $3,426 3.47%
    5 Year 45 $25,315,000 $562,556 $0 4.16%

    For 2020, Oceanfirst Bank's most frequently cited loan duration was 30 Year, with 1,495 originations. The 2nd most popular length was 20 Year, with 398 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,762 $626,020,000 $355,289
    $1k-2k 129 $46,835,000 $363,062
    $2k-3k 83 $41,775,000 $503,313
    $5k+ 71 $77,475,000 $1,091,197
    $3k-4k 57 $26,865,000 $471,316
    $4k-5k 42 $26,670,000 $635,000

    Oceanfirst Bank's average total fees were $4,826, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,762 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,536 $794,020,000 $516,940
    4-5% 400 $73,540,000 $183,850
    2.5-3% 397 $147,325,000 $371,096
    5-6% 94 $10,830,000 $115,213
    6-7% 7 $735,000 $105,000
    <2.5% 1 $365,000 $365,000
    Over 8% 1 $305,000 $305,000

    During 2020, Oceanfirst Bank's average interest rate for loans was 3.43%, while their most frequently originated rate bucket for loans was 3-4%, with 1,536 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 778 $224,720,000 $288,843 $3,597 3.49%
    $100k-200k 479 $71,205,000 $148,653 $2,558 3.65%
    $400k-600k 422 $204,470,000 $484,526 $4,822 3.32%
    $100,000 or less 336 $18,030,000 $53,661 $677 4.33%
    $600k-1MM 265 $196,525,000 $741,604 $6,224 3.35%
    $1MM+ 156 $312,170,000 $2,001,090 $10,381 3.42%

    2020 saw Oceanfirst Bank place emphasis on $200k-400k loans with 778 originations, totaling $224,720,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 643 $422,095,000 $656,446 $5,979 3.44%
    $150k-250k 599 $225,235,000 $376,018 $4,204 3.65%
    $100k-150k 501 $129,445,000 $258,373 $3,443 3.55%
    $75k-100k 262 $45,940,000 $175,344 $2,568 3.65%
    $50k-75k 212 $29,400,000 $138,679 $2,052 3.74%
    $50k or less 111 $9,645,000 $86,892 $1,274 3.87%

    Oceanfirst Bank lent most frequently to those with incomes in the $250k+ range, with 643 originations. The second most popular income band? $150k-250k, with 599 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 638 $232,280,000 $364,075 $4,025 3.49%
    30-36% 491 $184,995,000 $376,772 $3,961 3.51%
    <20% 294 $133,170,000 $452,959 $4,383 3.40%
    42% 112 $33,390,000 $298,125 $3,509 3.89%
    41% 111 $40,175,000 $361,937 $4,155 3.67%
    37% 97 $31,605,000 $325,825 $3,702 3.59%
    40% 93 $33,975,000 $365,323 $4,107 3.49%
    38% 93 $34,325,000 $369,086 $4,391 3.56%
    36% 90 $31,690,000 $352,111 $3,969 3.47%
    39% 89 $35,185,000 $395,337 $4,480 4.67%
    43% 86 $25,110,000 $291,977 $3,341 3.74%
    45% 60 $17,500,000 $291,667 $3,607 3.73%
    44% 49 $14,355,000 $292,959 $4,447 3.86%
    47% 25 $11,375,000 $455,000 $3,853 3.47%
    46% 22 $9,100,000 $413,636 $4,016 3.47%
    48% 21 $7,245,000 $345,000 $3,703 3.34%
    49% 8 $2,210,000 $276,250 $3,328 3.52%
    >60% 3 $1,215,000 $405,000 $4,263 3.71%
    50-60% 2 $810,000 $405,000 $3,743 3.44%

    Oceanfirst Bank lent most frequently to those with DTI ratios of 20-30%, with 638 originations. The next most common DTI ratio? 30-36%, with 491 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,031 $728,895,000 $358,885 $3,913 3.60%
    Not applicable 51 $146,885,000 $2,880,098 $0 3.89%
    Not provided 277 $117,795,000 $425,253 $4,525 3.52%
    Asian 45 $21,605,000 $480,111 $6,177 3.34%
    Asian Indian 9 $6,795,000 $755,000 $6,780 3.47%
    Black 15 $3,085,000 $205,667 $2,738 3.60%
    American Indian 5 $1,435,000 $287,000 $2,984 3.18%
    Other Pacific Islander 1 $305,000 $305,000 $0 5.75%
    Chinese 1 $275,000 $275,000 $2,758 2.75%
    Other Asian 1 $45,000 $45,000 $0 4.00%

    Approval Rates

    Total approvals of all applications
    84.44%

    Oceanfirst Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    84.24%

    Oceanfirst Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,436 $1,027,120,000 $421,642

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 35 $129,085,000 $3,688,143
    Single Family (1-4 Units):Site-Built 2,401 $898,035,000 $374,025

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 284 $71,870,000 $253,063 $2,675 3.79%
    40-60% 452 $200,470,000 $443,518 $3,831 3.37%
    60-80% 1,031 $536,795,000 $520,655 $4,583 3.41%
    80-100% 408 $185,010,000 $453,456 $4,808 3.55%
    Over 100% 1 $2,305,000 $2,305,000 $0 4.35%
    Under 20% 260 $30,670,000 $117,962 $461 4.50%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    OCMBC, Inc Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 42.9%
    OCMBC, Inc Conventional home mortgage Closing on a mortgage 1 14.3%
    OCMBC, Inc Conventional home mortgage Trouble during payment process 1 14.3%
    OCMBC, Inc FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
    OCMBC, Inc FHA mortgage Trouble during payment process 1 14.3%

    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 $45,670
    Oceanfirst Bank, National Association 10 Leesville Road Jackson, NJ 8527 Full Service B&M $123,992
    Oceanfirst Bank, National Association 1001 Asbury Ave Ocean City, NJ 8226 Full Service B&M $181,475
    Oceanfirst Bank, National Association 105 Roosevelt Blvd Marmora, NJ 8223 Full Service B&M $124,396
    Oceanfirst Bank, National Association 1107 N High Street Millville, NJ 8332 Full Service B&M $155,837
    Oceanfirst Bank, National Association 1234 West Landis Avenue Vineland, NJ 8360 Full Service B&M $252,442
    Oceanfirst Bank, National Association 12th Street And First Road Hammonton, NJ 8037 Full Service B&M $152,753
    Oceanfirst Bank, National Association 1320 Black Horse Pike Glendora, NJ 8029 Full Service B&M $87,419
    Oceanfirst Bank, National Association 140 Broad Street Red Bank, NJ 7701 Full Service B&M $136,027
    Oceanfirst Bank, National Association 141 Egg Harbor Road Sewell, NJ 8080 Full Service B&M $105,055
    Oceanfirst Bank, National Association 147 Route 70, Suite 1 Toms River, NJ 8755 Full Service B&M $111,228
    Oceanfirst Bank, National Association 1600 Perrineville Road Monroe Township, NJ 8831 Full Service B&M $69,774
    Oceanfirst Bank, National Association 175 South Main Road Vineland, NJ 8360 Full Service B&M $314,280
    Oceanfirst Bank, National Association 1777 New Road Linwood, NJ 8221 Full Service B&M $203,612
    Oceanfirst Bank, National Association 1801 Atlantic Avenue Atlantic City, NJ 8401 Full Service B&M $161,531
    Oceanfirst Bank, National Association 1899 Bayshore Road Villas, NJ 8251 Full Service B&M $79,488
    Oceanfirst Bank, National Association 191 Route 9 South Manalapan, NJ 7726 Full Service B&M $54,181
    Oceanfirst Bank, National Association 205 Route 72 West Manahawkin, NJ 8050 Full Service B&M $211,420
    Oceanfirst Bank, National Association 217 Jackson St Cape May, NJ 8204 Full Service B&M $55,268
    Oceanfirst Bank, National Association 224 South Main Street Flemington, NJ 8822 Full Service B&M $74,552
    Oceanfirst Bank, National Association 2251 Ocean Heights Avenue Egg Harbor Township, NJ 8234 Full Service B&M $159,377
    Oceanfirst Bank, National Association 2400 Bridge Avenue Point Pleasant, NJ 8742 Full Service B&M $173,375
    Oceanfirst Bank, National Association 2401 Route 71 Spring Lake, NJ 7762 Full Service B&M $101,107
    Oceanfirst Bank, National Association 2445 Route 34 Manasquan, NJ 8736 Full Service B&M $218,625
    Oceanfirst Bank, National Association 260 Chestnut Street Newark, NJ 7105 Full Service B&M $4,394
    Oceanfirst Bank, National Association 267 Main Street Matawan, NJ 7747 Full Service B&M $124,696
    Oceanfirst Bank, National Association 303 Village Center Drive Logan Township, NJ 8085 Full Service B&M $57,341
    Oceanfirst Bank, National Association 308 West Main Street Freehold, NJ 7728 Full Service B&M $255,420
    Oceanfirst Bank, National Association 3100 Route 88 Point Pleasant Boro, NJ 8742 Full Service B&M $48,502
    Oceanfirst Bank, National Association 3101 New Jersey Avenue Wildwood, NJ 8260 Full Service B&M $43,752
    Oceanfirst Bank, National Association 320 E. Jimmie Leeds Road Galloway, NJ 8205 Full Service B&M $144,761
    Oceanfirst Bank, National Association 321 Chambers Bridge Road Brick, NJ 8723 Full Service B&M $230,989
    Oceanfirst Bank, National Association 357 Highway 36 Port Monmouth, NJ 7758 Full Service B&M $80,226
    Oceanfirst Bank, National Association 359 Monmouth Road West Long Branch, NJ 7764 Full Service B&M $63,265
    Oceanfirst Bank, National Association 400 Lacey Road Whiting, NJ 8759 Full Service B&M $120,740
    Oceanfirst Bank, National Association 4050 Asbury Avenue Tinton Falls, NJ 7753 Full Service B&M $94,912
    Oceanfirst Bank, National Association 411 Route 33 Trenton, NJ 8619 Full Service B&M $73,388
    Oceanfirst Bank, National Association 425 Route 9 South Little Egg Harbor, NJ 8087 Full Service B&M $131,709
    Oceanfirst Bank, National Association 4349 Katonah Avenue Bronx, NY 10470 Full Service B&M $152,818
    Oceanfirst Bank, National Association 442 Highway 35 Red Bank, NJ 7701 Full Service B&M $168,736
    Oceanfirst Bank, National Association 520 South Avenue Westfield, NJ 7090 Full Service B&M $185,599
    Oceanfirst Bank, National Association 5401 Harding Hwy Mays Landing, NJ 8330 Full Service B&M $157,298
    Oceanfirst Bank, National Association 55 Bananier Drive Toms River, NJ 8755 Full Service B&M $129,448
    Oceanfirst Bank, National Association 583 West 235th Street Bronx, NY 10463 Full Service B&M $128,025
    Oceanfirst Bank, National Association 597 Route 38 West Maple Shade, NJ 8052 Full Service B&M $123,853
    Oceanfirst Bank, National Association 655 Third Avenue, 9th Floor New York, NY 10017 Full Service B&M $0
    Oceanfirst Bank, National Association 655 Third Avenue, Ground Floor New York, NY 10017 Full Service B&M $343,948
    Oceanfirst Bank, National Association 656 Shrewsbury Avenue Tinton Falls, NJ 7701 Full Service B&M $363,826
    Oceanfirst Bank, National Association 70 Brick Blvd. Brick, NJ 8723 Full Service B&M $86,841
    Oceanfirst Bank, National Association 701 Arnold Ave. Point Pleasant, NJ 8742 Full Service B&M $81,671
    Oceanfirst Bank, National Association 741 Route 73 S Marlton, NJ 8053 Full Service B&M $101,502
    Oceanfirst Bank, National Association 766 Shrewsbury Avenue Tinton Falls, NJ 7724 Full Service B&M $0
    Oceanfirst Bank, National Association 766 Shrewsbury Avenue Tinton Falls, NJ 7724 Limited, Administrative $0
    Oceanfirst Bank, National Association 791 Route 9 Bayville, NJ 8721 Full Service B&M $77,937
    Oceanfirst Bank, National Association 80 Garth Road Scarsdale, NY 10583 Full Service B&M $109,639
    Oceanfirst Bank, National Association 84 First Avenue Atlantic Highlands, NJ 7716 Full Service B&M $26,111
    Oceanfirst Bank, National Association 845 W. Bay Avenue Barnegat, NJ 8005 Full Service B&M $101,996
    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 $225,754
    Oceanfirst Bank, National Association 890 Mantua Pike Woodbury Heights, NJ 8097 Full Service B&M $151,409
    Oceanfirst Bank, National Association 900 Lacey Road Forked River, NJ 8731 Full Service B&M $148,742
    Oceanfirst Bank, National Association 902 Second Ave. New York, NY 10017 Full Service B&M $88,917
    Oceanfirst Bank, National Association 907 Route 9 South Cape May Court House, NJ 8210 Full Service B&M $127,597
    Oceanfirst Bank, National Association 975 Hooper Avenue Toms River, NJ 8753 Full Service B&M $717,952
    Oceanfirst Bank, National Association Black Horse Pike & Fire Road Egg Harbor Township, NJ 8234 Full Service B&M $152,424
    Oceanfirst Bank, National Association Essex & Ventnor Avenue Margate City, NJ 8402 Full Service B&M $218,262

    For 2020, Oceanfirst Bank had 66 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $379,451
    Net interest income $322,683
    Total noninterest income $52,308
    Gross Fiduciary activities income $2,052
    Service charges on deposit accounts $11,915
    Trading account gains and fees $0
    Additional Noninterest Income $38,341
    Pre-tax net operating income $69,867
    Securities gains (or losses, -) $1,230
    Income before extraordinary items $56,289
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $56,289
    Minority interest net income $0
    Net income $56,289
    Sale, conversion, retirement of capital stock, net $5,392
    Net operating income $55,317

    Oceanfirst Bank's gross interest income from loans was $379,451,000.
    Oceanfirst Bank's net interest income from loans was $322,683,000.
    Oceanfirst Bank's fee based income from loans was $11,915,000.
    Oceanfirst Bank's net income from loans was $56,289,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $56,768
    Provision for credit losses $57,847
    Total noninterest expense $247,277
    Salaries and employee benefits $112,781
    Premises and equipment expense $29,234
    Additional noninterest expense $105,262
    Applicable income taxes $14,808
    Net charge-offs $18,858
    Cash dividends $54,000

    Oceanfirst Bank's interest expense for loans was $56,768,000.
    Oceanfirst Bank's payroll and benefits expense were $112,781,000.
    Oceanfirst Bank's property, plant and equipment expenses $29,234,000.

    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 1.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 1.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 2.0%
    Credit card loans 0.0%
    Other individual loans 2.0%
    Auto loans 0.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $9,454,666
    Deposits held in domestic offices $9,454,666
    Deposits by Individuals, partnerships, and corporations $6,982,444
    Deposits by U.S. Government $7,000
    Deposits by States and political subdivisions in the U.S. $2,408,878
    Deposits by Commercial banks and other depository institutions in U.S. $56,344
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $1,387,319
    Demand deposits $743,823
    Nontransaction accounts $8,067,347
    Money market deposit accounts (MMDAs) $784,403
    Other savings deposits (excluding MMDAs) $5,912,666
    Total time deposits $1,370,277
    Total time and savings deposits $8,710,843
    Noninterest-bearing deposits $2,124,116
    Interest-bearing deposits $7,330,550
    Retail deposits $9,058,664
    IRAs and Keogh plan accounts $176,321
    Brokered deposits $191,033
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $11,340,082
    Cash & Balances due from depository institutions $1,235,253
    Interest-bearing balances $1,146,948
    Total securities $1,167,442
    Federal funds sold & reverse repurchase $0
    Net loans and leases $7,744,347
    Loan and leases loss allowance $60,735
    Trading account assets $0
    Bank premises and fixed assets $135,431
    Other real estate owned $106
    Goodwill and other intangibles $524,278
    All other assets $533,225

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $11,340,082
    Total Liabilities $9,840,742
    Total deposits $9,454,666
    Interest-bearing deposits $7,330,550
    Deposits held in domestic offices $9,454,666
    % insured (estimated) $52
    Federal funds purchased and repurchase agreements $128,454
    Trading liabilities $0
    Other borrowed funds $109,375
    Subordinated debt $0
    All other liabilities $148,247

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $7,744,347
    Loan and leases loss allowance $60,735
    Total loans and leases (domestic) $7,805,082
    All real estate loans $7,287,740
    Real estate loans in domestic offices $7,287,740
    Construction and development loans $426,480
    Residential 1-4 family construction $191,709
    Other construction, all land development and other land $234,771
    Loans secured by nonfarm nonresidential properties $3,227,603
    Nonfarm nonresidential secured by owner-occupied properties $1,083,506
    Commercial real estate & other non-farm, non-residential $2,144,097
    Multifamily residential real estate $745,719
    1-4 family residential loans $2,883,928
    Farmland loans $4,010
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $417,464
    To non-U.S. addressees $0
    Loans to individuals $77,049
    Credit card loans $0
    Related Plans $15,184
    Consumer Auto Loans $44
    Other loans to individuals $61,821
    All other loans & leases $22,829
    Loans to foreign governments and official institutions $0
    Other loans $11,144
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $23,954
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $12,008
    Non 1-4 family restructured loans & leases $1,807
    Total loans and leases (foreign) $0

    OceanFirst Bank had $7,744,347,000 of loans outstanding in 2020. $7,287,740,000 of loans were in real estate loans. $426,480,000 of loans were in development loans. $745,719,000 of loans were in multifamily mortgage loans. $2,883,928,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $44,000 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 2,453 $676,620 $275,834
    Nonfarm, nonresidential loans - <$100k 337 $15,548 $46,136
    Nonfarm, nonresidential loans - $100-250k 706 $93,191 $131,999
    Nonfarm, nonresidential loans - $250k-1MM 1,410 $567,881 $402,752
    Commercial & Industrial, US addressed loans - <$1MM 1,206 $165,736 $137,426
    Commercial & Industrial, US addressed loans - <$100k 599 $21,643 $36,132
    Commercial & Industrial, US addressed loans - $100-250k 281 $31,918 $113,587
    Commercial & Industrial, US addressed loans - $250k-1MM 326 $112,175 $344,095
    Farmland loans - <$1MM 1 $154 $154,000
    Farmland loans - $100-250k 1 $154 $154,000