Welcome to our dedicated page for Oceanfirst Finl news (Ticker: OCFC), a resource for investors and traders seeking the latest updates and insights on Oceanfirst Finl stock.
Oceanfirst Financial Corp (OCFC) maintains its position as a trusted community banking partner through strategic financial services and local market expertise. This news hub provides investors and stakeholders with essential updates about the New Jersey-based institution's operations and market activities.
Access official press releases, earnings reports, and regulatory filings alongside analysis of strategic initiatives. Track developments in residential mortgage offerings, commercial lending programs, and community-focused banking services that define OCFC's market approach.
Key updates include quarterly financial results, leadership announcements, branch network expansions, and regulatory compliance milestones. The curated collection serves as a reliable resource for understanding the bank's performance within the competitive Northeast banking landscape.
For ongoing monitoring of Oceanfirst's market position and community impact, bookmark this page for timely updates. Regular visitors gain insight into how OCFC balances traditional banking values with modern financial service demands.
OceanFirst Financial Corp. (NASDAQ:OCFC), the holding company for OceanFirst Bank, has announced its upcoming earnings release and conference call schedule. The company will release its Q3 2024 earnings on Thursday, October 17, 2024 after market close. A conference call to discuss the quarterly performance will be held on Friday, October 18, 2024 at 11:00 a.m. Eastern Time.
Investors can access the call via phone or webcast. For those unable to attend, a replay will be available until November 15, 2024. OceanFirst Bank, founded in 1902, is a $13.3 billion regional bank operating in New Jersey, Philadelphia, New York, Baltimore, and Boston. It offers commercial and residential financing, treasury management, trust and asset management, and deposit services.
OceanFirst Financial Corp. (NASDAQ:OCFC) announced that its subsidiary, OceanFirst Bank, has voluntarily entered into settlement agreements with the U.S. Department of Justice and Department of Housing and Urban Development. The agreements resolve claims of violations of the Equal Credit Opportunity Act and Fair Housing Act in the New Brunswick-Lakewood, New Jersey lending area.
Key points of the settlement include:
- A $14 million commitment to a mortgage loan subsidy fund for eligible residents in Middlesex and Monmouth counties over five years
- $400,000 investment in community partnerships
- $140,000 annual spending on targeted marketing and outreach
- Provision of financial education workshops
OceanFirst Bank has a history of community lending and investment programs, including the NeighborFirst program, community development loans, and small business lending to minority- and women-owned businesses.
OceanFirst Financial Corp. (NASDAQ:OCFC) reported net income of $23.4 million, or $0.40 per diluted share, for Q2 2024, down from $26.8 million, or $0.45 per share, in Q2 2023. For the first half of 2024, net income was $51.0 million, or $0.87 per share, compared to $53.7 million, or $0.91 per share, in H1 2023.
Key financial metrics include:
- Return on average assets: 0.70%
- Return on average tangible common equity: 8.51%
- Net interest margin: 2.71%
- Common equity tier 1 capital ratio: 11.2%
The bank's asset quality remains strong, with non-performing loans at 0.33% of total loans. The company repurchased 338,087 shares for $5.0 million during the quarter and declared its 110th consecutive quarterly cash dividend of $0.20 per share.
OceanFirst Financial Corp. (NASDAQ:OCFC), the holding company for OceanFirst Bank, announced it will release its Q2 2024 earnings on July 18, 2024, after market close. A conference call to discuss the quarterly performance will be held at 11:00 a.m. ET on July 19, 2024. Participants can dial 1-833-470-1428 using access code 619002. A replay will be available until August 16, 2024, by dialing 1-866-813-9403, access code 217614. The call will also be accessible via the company's website for 30 days. Founded in 1902, OceanFirst Bank has a $13.4 billion asset base and offers a range of financial services across major metropolitan markets including New Jersey, Philadelphia, New York, Baltimore, and Boston.
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