{"id":841940,"date":"2025-04-24T17:14:15","date_gmt":"2025-04-24T21:14:15","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/oceanfirst-financial-corp-announces-first-quarter-financial-results-4\/"},"modified":"2025-04-24T17:14:15","modified_gmt":"2025-04-24T21:14:15","slug":"oceanfirst-financial-corp-announces-first-quarter-financial-results-4","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/oceanfirst-financial-corp-announces-first-quarter-financial-results-4\/","title":{"rendered":"OceanFirst Financial Corp. Announces First Quarter Financial Results"},"content":{"rendered":"
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RED BANK, N.J., April 24, 2025 (GLOBE NEWSWIRE) — OceanFirst Financial Corp. (NASDAQ:OCFC)<\/strong> (the \u201cCompany\u201d), the holding company for OceanFirst Bank N.A. (the \u201cBank\u201d), announced net income available to common stockholders of $20.5 million, or $0.35 per diluted share, for the quarter ended March 31, 2025, a decrease from $27.7 million, or $0.47 per diluted share, for the corresponding prior year period, and a decrease from $20.9 million, or $0.36 per diluted share, for the linked quarter. Selected performance metrics are as follows (refer to \u201cSelected Quarterly Financial Data\u201d for additional information):<\/p>\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\n For the Three Months Ended,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n March 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n December 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n March 31,<\/strong>\n <\/td>\n<\/tr>\n
\n Performance Ratios (Annualized):<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n<\/tr>\n
Return on average assets<\/td>\n\u00a0<\/td>\n0.62<\/td>\n%<\/td>\n\u00a0<\/td>\n0.61<\/td>\n%<\/td>\n\u00a0<\/td>\n0.82<\/td>\n%<\/td>\n<\/tr>\n
Return on average stockholders\u2019 equity<\/td>\n\u00a0<\/td>\n4.85<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.88<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.65<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on average tangible stockholders\u2019 equity\u00a0(a)<\/sup><\/td>\n\u00a0<\/td>\n7.05<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9.61<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on average tangible common equity (a)<\/sup><\/td>\n\u00a0<\/td>\n7.40<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.47<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.09<\/td>\n\u00a0<\/td>\n<\/tr>\n
Efficiency ratio<\/td>\n\u00a0<\/td>\n65.67<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n67.86<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n59.56<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net interest margin<\/td>\n\u00a0<\/td>\n2.90<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.69<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.81<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

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\n (a)<\/sup> Return on average tangible stockholders\u2019 equity and return on average tangible common equity (\u201cROTCE\u201d) are non-GAAP (\u201cgenerally accepted accounting principles\u201d) financial measures. Refer to \u201cExplanation of Non-GAAP Financial Measures,\u201d \u201cSelected Quarterly Financial Data\u201d and \u201cNon-GAAP Reconciliation\u201d tables for reconciliation and additional information regarding non-GAAP financial measures.<\/sub>\n <\/p>\n

Core earnings1<\/sup> for the quarter ended March 31, 2025 were $20.3 million, or $0.35 per diluted share, a decrease from $25.6 million, or $0.44 per diluted share, for the corresponding prior year period, and a decrease from $22.1 million, or $0.38 per diluted share, for the linked quarter.<\/p>\n

Core earnings PTPP1<\/sup> for the quarter ended March 31, 2025 was $32.4 million, or $0.56 per diluted share, as compared to $36.2 million, or $0.62 per diluted share, for the corresponding prior year period, and $29.6 million, or $0.51 per diluted share, for the linked quarter. Selected performance metrics are as follows:<\/p>\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\n For the Three Months Ended,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n March 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n December 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n March 31,<\/strong>\n <\/td>\n<\/tr>\n
\n Core Ratios<\/strong>
\n
\n 1\u00a0<\/strong>
\n <\/sup>
\n (Annualized):<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on average assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.62<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.65<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.76<\/td>\n%<\/td>\n<\/tr>\n
Return on average tangible stockholders\u2019 equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.00<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.51<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.91<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on average tangible common equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.34<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.89<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9.36<\/td>\n\u00a0<\/td>\n<\/tr>\n
Efficiency ratio<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n65.81<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n67.74<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n61.05<\/td>\n\u00a0<\/td>\n<\/tr>\n
Core diluted earnings per share<\/td>\n\u00a0<\/td>\n$<\/td>\n0.35<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.38<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.44<\/td>\n\u00a0<\/td>\n<\/tr>\n
Core PTPP diluted earnings per share<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.56<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.51<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.62<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

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Key developments for the recent quarter are described below:<\/p>\n