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. Their top markets by origination volume include: New York, Ocean City, Philadelphia, Atlantic City, and Trenton among others. We have data for 25 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% 4/28/24
    30 Year Conventional Purchase 6.05% 4/28/24
    30 Year Conventional Refi 6.07% 4/28/24
    30 Year Cash-out Refi 5.98% 4/28/24
    15 Year Conventional Purchase 5.64% 4/28/24
    15 Year Conventional Refi 6.14% 4/28/24
    15 Year Cash-out Refi 6.14% 4/28/24
    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

    2,120

    Origination Dollar Volume (All Markets)

    $1,128,050,000

    Employee count

    946

    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) 1,253 $704,525,000 $562,271 $4,148 3.29%
    OCEAN CITY, NJ (FHA|USDA|VA) 313 $158,025,000 $504,872 $5,008 3.27%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 194 $136,680,000 $704,536 $3,818 3.28%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 244 $82,360,000 $337,541 $4,126 3.25%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 22 $16,240,000 $738,182 $7,009 3.32%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 61 $7,925,000 $129,918 $1,555 3.49%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 4 $7,650,000 $1,912,500 $4,152 3.13%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 6 $3,600,000 $600,000 $4,520 3.06%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $2,955,000 $2,955,000 $0 3.50%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $1,860,000 $930,000 $5,936 3.00%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 2 $860,000 $430,000 $4,861 3.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $845,000 $845,000 $6,745 3.13%
    SALISBURY, MD-DE (FHA|USDA|VA) 2 $830,000 $415,000 $3,692 2.69%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $560,000 $280,000 $4,095 2.88%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $550,000 $275,000 $3,681 2.75%
    Heber, UT (FHA|USDA|VA) 1 $435,000 $435,000 $3,008 2.88%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $410,000 $205,000 $3,211 2.88%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $395,000 $395,000 $2,913 3.25%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $255,000 $255,000 $3,165 2.63%
    Key West, FL (FHA|USDA|VA) 1 $235,000 $235,000 $3,073 2.88%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,839 2.88%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $205,000 $205,000 $2,929 3.25%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $205,000 $205,000 $2,215 2.88%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,102 3.63%
    Outside of Metro Areas 1 $35,000 $35,000 $0 3.50%
    Oceanfirst Bank's top markets include New York, Ocean City, Philadelphia, Atlantic City, and Trenton among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Texas (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: 102
    Schuyler Savings Bank
    Similarity Rank: 352
    Louviers Federal Credit Union
    Similarity Rank: 410
    BHCU
    Similarity Rank: 504
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 652
    The First National Bank of Long Island
    Similarity Rank: 748
    The Atlantic Federal Credit Union
    Similarity Rank: 882
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 1064
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1092
    Poli Mortgage Group, Inc.
    Similarity Rank: 1369

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,920 $1,099,270,000 $572,536 $4,188 3.18%
    HELOC 198 $28,140,000 $142,121 n/a 4.27%
    VA 2 $640,000 $320,000 $9,039 3.00%

    For 2021, Oceanfirst Bank's most frequently originated type of loan was Conventional, with 1,920 originations. Their 2nd most popular type was HELOC, with 198 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 805 $488,355,000 $606,652 $6,306 3.15%
    Refi 701 $481,625,000 $687,054 $2,667 3.20%
    Cash Out Refi 303 $123,465,000 $407,475 $3,782 2.95%
    Other 186 $21,910,000 $117,796 $537 4.07%
    Home Improvement 125 $12,695,000 $101,560 $9 4.19%

    For 2021, Oceanfirst Bank's most frequently cited loan purpose was Home Purchase, with 805 originations. The 2nd most popular reason was Refi, with 701 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,254 $631,870,000 $503,884 $5,285 3.10%
    20 Year 350 $54,970,000 $157,057 $1,171 4.00%
    15 Year 278 $72,950,000 $262,410 $2,705 2.98%
    10 Year 134 $200,040,000 $1,492,836 $649 3.44%
    Other 53 $64,185,000 $1,211,038 $2,957 3.41%
    5 Year 47 $85,205,000 $1,812,872 $44 3.91%
    3 Year 3 $17,765,000 $5,921,667 $0 3.19%
    1 Year 1 $1,065,000 $1,065,000 $0 3.75%

    For 2021, Oceanfirst Bank's most frequently cited loan duration was 30 Year, with 1,254 originations. The 2nd most popular length was 20 Year, with 350 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,450 $498,620,000 $343,876
    $5k+ 105 $126,185,000 $1,201,762
    $1k-2k 91 $36,125,000 $396,978
    $3k-4k 69 $32,745,000 $474,565
    $2k-3k 66 $24,460,000 $370,606
    $4k-5k 53 $32,375,000 $610,849

    Oceanfirst Bank's average total fees were $5,285, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,450 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 870 $561,510,000 $645,414
    2.5-3% 869 $491,835,000 $565,978
    4-5% 247 $37,125,000 $150,304
    <2.5% 100 $33,750,000 $337,500
    5-6% 30 $3,520,000 $117,333
    6-7% 4 $310,000 $77,500

    During 2021, Oceanfirst Bank's average interest rate for loans was 3.10%, while their most frequently originated rate bucket for loans was 3-4%, with 870 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 648 $183,220,000 $282,747 $3,615 3.13%
    $100k-200k 379 $56,695,000 $149,591 $2,444 3.32%
    $100,000 or less 334 $17,920,000 $53,653 $560 3.91%
    $400k-600k 300 $144,620,000 $482,067 $4,971 3.08%
    $600k-1MM 262 $199,090,000 $759,885 $6,703 3.12%
    $1MM+ 197 $526,505,000 $2,672,614 $11,314 3.12%

    2021 saw Oceanfirst Bank place emphasis on $200k-400k loans with 648 originations, totaling $183,220,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 561 $413,205,000 $736,551 $6,924 3.21%
    $150k-250k 435 $164,145,000 $377,345 $4,341 3.21%
    $100k-150k 404 $104,940,000 $259,752 $3,323 3.26%
    $75k-100k 242 $45,240,000 $186,942 $2,395 3.35%
    $50k-75k 210 $29,210,000 $139,095 $2,036 3.41%
    $50k or less 125 $10,085,000 $80,680 $1,175 3.48%

    Oceanfirst Bank lent most frequently to those with incomes in the $250k+ range, with 561 originations. The second most popular income band? $150k-250k, with 435 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 562 $201,240,000 $358,078 $4,061 3.23%
    30-36% 385 $159,575,000 $414,481 $4,407 3.25%
    <20% 229 $100,715,000 $439,803 $4,160 3.25%
    42% 97 $34,125,000 $351,804 $3,455 3.43%
    41% 90 $29,260,000 $325,111 $3,573 3.30%
    39% 85 $29,255,000 $344,176 $3,925 3.28%
    37% 79 $34,715,000 $439,430 $4,790 3.26%
    36% 78 $29,450,000 $377,564 $4,493 3.25%
    38% 77 $30,775,000 $399,675 $4,885 3.23%
    40% 75 $27,655,000 $368,733 $3,718 3.39%
    44% 73 $24,265,000 $332,397 $4,111 3.32%
    43% 72 $27,510,000 $382,083 $4,741 3.30%
    45% 64 $25,080,000 $391,875 $4,334 3.44%
    46% 21 $9,945,000 $473,571 $4,671 3.30%
    48% 20 $9,310,000 $465,500 $4,176 3.24%
    47% 16 $5,670,000 $354,375 $3,631 3.28%
    49% 6 $2,790,000 $465,000 $3,958 3.08%
    50-60% 4 $3,820,000 $955,000 $7,060 3.16%

    Oceanfirst Bank lent most frequently to those with DTI ratios of 20-30%, with 562 originations. The next most common DTI ratio? 30-36%, with 385 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,764 $678,620,000 $384,705 $4,179 3.27%
    Not applicable 85 $339,935,000 $3,999,235 $0 3.45%
    Not provided 192 $74,330,000 $387,135 $4,007 3.26%
    Asian 52 $28,680,000 $551,538 $5,685 3.14%
    Black 19 $5,065,000 $266,579 $3,805 3.68%
    American Indian 6 $900,000 $150,000 $2,323 3.88%
    Native Hawaiian or Islander 1 $345,000 $345,000 $0 4.25%
    Asian Indian 1 $175,000 $175,000 $3,022 2.75%

    Approval Rates

    Total approvals of all applications
    85.80%

    Oceanfirst Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.30%

    Oceanfirst Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,120 $1,128,050,000 $532,099

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,120 $1,128,050,000 $532,099

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 328 $104,050,000 $317,226 $2,664 3.42%
    40-60% 458 $229,710,000 $501,550 $3,911 3.09%
    60-80% 804 $531,070,000 $660,535 $5,329 3.17%
    80-100% 253 $132,995,000 $525,672 $5,108 3.08%
    Under 20% 277 $130,225,000 $470,126 $530 3.93%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    OCMBC, Inc FHA mortgage Closing on a mortgage 1 100.0%

    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 $43,886
    Oceanfirst Bank, National Association 10 Leesville Road Jackson, NJ 8527 Full Service B&M $127,369
    Oceanfirst Bank, National Association 1001 Asbury Ave Ocean City, NJ 8226 Full Service B&M $195,857
    Oceanfirst Bank, National Association 105 Roosevelt Blvd Marmora, NJ 8223 Full Service B&M $131,646
    Oceanfirst Bank, National Association 1107 N High Street Millville, NJ 8332 Full Service B&M $167,068
    Oceanfirst Bank, National Association 1234 West Landis Avenue Vineland, NJ 8360 Full Service B&M $288,622
    Oceanfirst Bank, National Association 12th Street And First Road Hammonton, NJ 8037 Full Service B&M $176,600
    Oceanfirst Bank, National Association 1320 Black Horse Pike Glendora, NJ 8029 Full Service B&M $88,884
    Oceanfirst Bank, National Association 140 Broad Street Red Bank, NJ 7701 Full Service B&M $171,950
    Oceanfirst Bank, National Association 141 Egg Harbor Road Sewell, NJ 8080 Full Service B&M $106,310
    Oceanfirst Bank, National Association 147 Route 70, Suite 1 Toms River, NJ 8755 Full Service B&M $124,648
    Oceanfirst Bank, National Association 1600 Perrineville Road Monroe Township, NJ 8831 Full Service B&M $68,009
    Oceanfirst Bank, National Association 175 South Main Road Vineland, NJ 8360 Full Service B&M $334,808
    Oceanfirst Bank, National Association 1777 New Road Linwood, NJ 8221 Full Service B&M $225,860
    Oceanfirst Bank, National Association 1801 Atlantic Avenue Atlantic City, NJ 8401 Full Service B&M $267,099
    Oceanfirst Bank, National Association 1899 Bayshore Road Villas, NJ 8251 Full Service B&M $87,394
    Oceanfirst Bank, National Association 205 Route 72 West Manahawkin, NJ 8050 Full Service B&M $258,356
    Oceanfirst Bank, National Association 217 Jackson St Cape May, NJ 8204 Full Service B&M $70,801
    Oceanfirst Bank, National Association 224 South Main Street Flemington, NJ 8822 Full Service B&M $72,440
    Oceanfirst Bank, National Association 2251 Ocean Heights Avenue Egg Harbor Township, NJ 8234 Full Service B&M $168,577
    Oceanfirst Bank, National Association 2400 Bridge Avenue Point Pleasant, NJ 8742 Full Service B&M $193,374
    Oceanfirst Bank, National Association 2401 Route 71 Spring Lake, NJ 7762 Full Service B&M $107,852
    Oceanfirst Bank, National Association 2445 Route 34 Manasquan, NJ 8736 Full Service B&M $196,834
    Oceanfirst Bank, National Association 267 Main Street Matawan, NJ 7747 Full Service B&M $135,829
    Oceanfirst Bank, National Association 303 Village Center Drive Logan Township, NJ 8085 Full Service B&M $63,636
    Oceanfirst Bank, National Association 308 West Main Street Freehold, NJ 7728 Full Service B&M $359,337
    Oceanfirst Bank, National Association 3100 Route 88 Point Pleasant Boro, NJ 8742 Full Service B&M $55,524
    Oceanfirst Bank, National Association 3101 New Jersey Avenue Wildwood, NJ 8260 Full Service B&M $52,518
    Oceanfirst Bank, National Association 320 E. Jimmie Leeds Road Galloway, NJ 8205 Full Service B&M $148,278
    Oceanfirst Bank, National Association 321 Chambers Bridge Road Brick, NJ 8723 Full Service B&M $255,538
    Oceanfirst Bank, National Association 357 Highway 36 Port Monmouth, NJ 7758 Full Service B&M $100,017
    Oceanfirst Bank, National Association 359 Monmouth Road West Long Branch, NJ 7764 Full Service B&M $71,669
    Oceanfirst Bank, National Association 400 Lacey Road Whiting, NJ 8759 Full Service B&M $123,629
    Oceanfirst Bank, National Association 4050 Asbury Avenue Tinton Falls, NJ 7753 Full Service B&M $94,201
    Oceanfirst Bank, National Association 411 Route 33 Trenton, NJ 8619 Full Service B&M $79,817
    Oceanfirst Bank, National Association 425 Route 9 South Little Egg Harbor, NJ 8087 Full Service B&M $147,730
    Oceanfirst Bank, National Association 4349 Katonah Avenue Bronx, NY 10470 Full Service B&M $154,490
    Oceanfirst Bank, National Association 442 Highway 35 Red Bank, NJ 7701 Full Service B&M $126,340
    Oceanfirst Bank, National Association 520 South Avenue Westfield, NJ 7090 Full Service B&M $165,087
    Oceanfirst Bank, National Association 5401 Harding Hwy Mays Landing, NJ 8330 Full Service B&M $170,805
    Oceanfirst Bank, National Association 55 Bananier Drive Toms River, NJ 8755 Full Service B&M $126,442
    Oceanfirst Bank, National Association 583 West 235th Street Bronx, NY 10463 Full Service B&M $112,492
    Oceanfirst Bank, National Association 597 Route 38 West Maple Shade, NJ 8052 Full Service B&M $135,000
    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 $395,206
    Oceanfirst Bank, National Association 656 Shrewsbury Avenue Tinton Falls, NJ 7701 Full Service B&M $346,620
    Oceanfirst Bank, National Association 70 Brick Blvd. Brick, NJ 8723 Full Service B&M $102,232
    Oceanfirst Bank, National Association 701 Arnold Ave. Point Pleasant, NJ 8742 Full Service B&M $85,213
    Oceanfirst Bank, National Association 741 Route 73 S Marlton, NJ 8053 Full Service B&M $109,645
    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 $79,496
    Oceanfirst Bank, National Association 80 Garth Road Scarsdale, NY 10583 Full Service B&M $101,063
    Oceanfirst Bank, National Association 845 W. Bay Avenue Barnegat, NJ 8005 Full Service B&M $104,254
    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 $252,370
    Oceanfirst Bank, National Association 890 Mantua Pike Woodbury Heights, NJ 8097 Full Service B&M $101,733
    Oceanfirst Bank, National Association 900 Lacey Road Forked River, NJ 8731 Full Service B&M $174,678
    Oceanfirst Bank, National Association 907 Route 9 South Cape May Court House, NJ 8210 Full Service B&M $148,897
    Oceanfirst Bank, National Association 975 Hooper Avenue Toms River, NJ 8753 Full Service B&M $678,024
    Oceanfirst Bank, National Association Black Horse Pike & Fire Road Egg Harbor Township, NJ 8234 Full Service B&M $171,163
    Oceanfirst Bank, National Association Essex & Ventnor Avenue Margate City, NJ 8402 Full Service B&M $252,376

    For 2021, Oceanfirst Bank had 62 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $339,969
    Net interest income $313,843
    Total noninterest income $44,799
    Gross Fiduciary activities income $2,336
    Service charges on deposit accounts $11,021
    Trading account gains and fees $0
    Additional Noninterest Income $31,442
    Pre-tax net operating income $144,806
    Securities gains (or losses, -) $-354
    Income before extraordinary items $111,288
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $111,288
    Minority interest net income $0
    Net income $111,288
    Sale, conversion, retirement of capital stock, net $4,413
    Net operating income $111,567

    Oceanfirst Bank's gross interest income from loans was $339,969,000.
    Oceanfirst Bank's net interest income from loans was $313,843,000.
    Oceanfirst Bank's fee based income from loans was $11,021,000.
    Oceanfirst Bank's net income from loans was $111,288,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $26,126
    Provision for credit losses $-11,832
    Total noninterest expense $225,668
    Salaries and employee benefits $118,653
    Premises and equipment expense $27,370
    Additional noninterest expense $79,645
    Applicable income taxes $33,164
    Net charge-offs $-460
    Cash dividends $40,000

    Oceanfirst Bank's interest expense for loans was $26,126,000.
    Oceanfirst Bank's payroll and benefits expense were $118,653,000.
    Oceanfirst Bank's property, plant and equipment expenses $27,370,000.

    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 1.0%
    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 $9,761,923
    Deposits held in domestic offices $9,761,923
    Deposits by Individuals, partnerships, and corporations $6,904,972
    Deposits by U.S. Government $7,000
    Deposits by States and political subdivisions in the U.S. $2,828,394
    Deposits by Commercial banks and other depository institutions in U.S. $21,557
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $6,622,226
    Demand deposits $6,622,226
    Nontransaction accounts $3,139,697
    Money market deposit accounts (MMDAs) $736,090
    Other savings deposits (excluding MMDAs) $1,628,608
    Total time deposits $775,001
    Total time and savings deposits $3,139,697
    Noninterest-bearing deposits $2,599,192
    Interest-bearing deposits $7,162,731
    Retail deposits $9,620,725
    IRAs and Keogh plan accounts $166,576
    Brokered deposits $24,957
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $11,648,010
    Cash & Balances due from depository institutions $194,407
    Interest-bearing balances $104,788
    Total securities $1,726,096
    Federal funds sold & reverse repurchase $0
    Net loans and leases $8,583,352
    Loan and leases loss allowance $48,850
    Trading account assets $0
    Bank premises and fixed assets $149,499
    Other real estate owned $106
    Goodwill and other intangibles $518,753
    All other assets $475,797

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $11,648,010
    Total Liabilities $10,076,412
    Total deposits $9,761,923
    Interest-bearing deposits $7,162,731
    Deposits held in domestic offices $9,761,923
    % insured (estimated) $55
    Federal funds purchased and repurchase agreements $118,770
    Trading liabilities $0
    Other borrowed funds $72,711
    Subordinated debt $0
    All other liabilities $123,008

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $8,583,352
    Loan and leases loss allowance $48,850
    Total loans and leases (domestic) $8,632,202
    All real estate loans $8,145,825
    Real estate loans in domestic offices $8,145,825
    Construction and development loans $411,574
    Residential 1-4 family construction $203,541
    Other construction, all land development and other land $208,033
    Loans secured by nonfarm nonresidential properties $3,873,910
    Nonfarm nonresidential secured by owner-occupied properties $971,510
    Commercial real estate & other non-farm, non-residential $2,902,400
    Multifamily residential real estate $1,006,559
    1-4 family residential loans $2,852,253
    Farmland loans $1,529
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $437,751
    To non-U.S. addressees $0
    Loans to individuals $35,327
    Credit card loans $0
    Related Plans $333
    Consumer Auto Loans $18
    Other loans to individuals $34,976
    All other loans & leases $13,299
    Loans to foreign governments and official institutions $0
    Other loans $2,546
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $45,041
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $12,118
    Non 1-4 family restructured loans & leases $5,261
    Total loans and leases (foreign) $0

    OceanFirst Bank had $8,583,352,000 of loans outstanding in 2021. $8,145,825,000 of loans were in real estate loans. $411,574,000 of loans were in development loans. $1,006,559,000 of loans were in multifamily mortgage loans. $2,852,253,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $18,000 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 1,627 $446,533 $274,452
    Nonfarm, nonresidential loans - <$100k 190 $16,540 $87,053
    Nonfarm, nonresidential loans - $100-250k 425 $47,096 $110,814
    Nonfarm, nonresidential loans - $250k-1MM 1,012 $382,897 $378,357
    Commercial & Industrial, US addressed loans - <$1MM 1,045 $106,171 $101,599
    Commercial & Industrial, US addressed loans - <$100k 478 $15,035 $31,454
    Commercial & Industrial, US addressed loans - $100-250k 226 $22,007 $97,376
    Commercial & Industrial, US addressed loans - $250k-1MM 341 $69,129 $202,724