secwatch.observer — SEC 8-K summary
======================================

Issuer:     OCEANFIRST FINANCIAL CORP (OCFC)
CIK:        0001004702
Form:       8-K
Filed at:   2023-10-19T23:59:59+00:00
Accession:  0001004702-23-000154
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1004702/000100470223000154/0001004702-23-000154-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1004702/000100470223000154/ocfc-20231019.htm
  HTML page:      https://secwatch.observer/filing/0001004702-23-000154

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer