---
schema_version: "secwatch.filing_event.v1"
accession: "0001004702-23-000154"
form_type: "8-K"
ticker: "OCFC"
cik: "0001004702"
company_name: "OCEANFIRST FINANCIAL CORP"
filed_at: "2023-10-19T23:59:59+00:00"
generated_at: "2026-06-09T19:29:56.693946+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# OceanFirst Q3 net income falls 48% YoY to $19.7M; EPS $0.33 vs $0.64

## Summary
- Net income available to common stockholders $19.7M ($0.33 diluted EPS), down from $37.6M ($0.64) in Q3 2022.
- Net interest margin contracted to 2.91% from 3.36% a year ago; efficiency ratio worsened to 63.37% from 53.10%.
- Nine-month net income $73.3M ($1.24 diluted EPS) vs $90.3M ($1.53) in prior year period.
- Board declared $0.20/share common dividend payable Nov 17; $0.4375/depositary share preferred dividend payable Nov 15.
- ROA fell to 0.57% from 1.19%; ROE decreased to 4.75% from 9.68% year-over-year.

## SEC filing metadata
- accession: 0001004702-23-000154
- form_type: 8-K
- ticker: OCFC
- cik: 0001004702
- company_name: OCEANFIRST FINANCIAL CORP
- filed_at: 2023-10-19T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1004702/000100470223000154/0001004702-23-000154-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1004702/000100470223000154/ocfc-20231019.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001004702-23-000154
- JSON: https://secwatch.observer/filing/0001004702-23-000154.json
- Plain text: https://secwatch.observer/filing/0001004702-23-000154.txt

## Key facts
- Earnings Releases
  OCEANFIRST FINANCIAL CORP reported the nine months ended September 30, 2023 results: net income $73.3 million, EPS $1.24 per diluted share.
  - Period: the nine months ended September 30, 2023
  - Net income: $73.3 million
  - EPS: $1.24 per diluted share
  - Result: reported results
  source text: For the nine months ended September 30, 2023, the Company reported net income available to common stockholders of $73.3 million, or $1.24 per diluted share, as compared to $90.3 million, or $1.53 per diluted share, for the corresponding prior year period.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1004702/000100470223000154/0001004702-23-000154-index.htm
- Earnings Releases
  OCEANFIRST FINANCIAL CORP reported the three months ended September 30, 2023 results: net income $19.7 million, EPS $0.33 per diluted share.
  - Period: the three months ended September 30, 2023
  - Net income: $19.7 million
  - EPS: $0.33 per diluted share
  - Result: reported results
  source text: On October 19, 2023, OceanFirst Financial Corp. (the “Company”) issued a press release announcing its financial results for the quarter ended September 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1004702/000100470223000154/0001004702-23-000154-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.