OceanFirst reports adjusted uninsured deposits of $2.1B vs $6.3B; 403 customers >$1M uninsured

OCEANFIRST FINANCIAL CORP

CEO Christopher Maher disclosed on CNBC that 403 of 250,000 customers had uninsured deposits >$1M as of March 10.
Total uninsured deposits of $6.3B adjusted to $2.1B excluding $2.4B collateralized municipal and $1.8B subsidiary deposits.
Disclosure accompanies virtual analyst call amid banking sector turmoil to emphasize limited deposit run risk.
Data excludes collateralized government deposits and is as of December 31, 2022 per call report.

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