Last $15.99 USD
Change Today -0.02 / -0.12%
Volume 18.6K
OCFC On Other Exchanges
Symbol
Exchange
NASDAQ GS
Stuttgart
As of 1:19 PM 10/24/14 All times are local (Market data is delayed by at least 15 minutes).
text size: T | T
Back to Snapshot
Company Description

Contact Info

975 Hooper Avenue

Toms River, NJ 08753

United States

Phone: 732-240-4500

Fax:

OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank that provides various financial services to meet the needs of the communities it serves. The company’s principal business has been and continues to be attracting deposits from the general public in the communities surrounding its branch offices and investing those deposits primarily in single-family, owner-occupied residential mortgage loans and commercial real estate loans, a key focus of the company. The company also invests in other types of loans, including multi-family, construction, consumer, and commercial loans. Market Area The company conducts its business through an administrative/branch office located in Toms River, New Jersey; and 22 additional branch offices. 18 of the offices are located in Ocean County, New Jersey, with 4 branches in Monmouth County and 1 in Middlesex County. The company also operates a trust and asset management office in Manchester, New Jersey. In April 2013, the company expanded its market presence in Monmouth County with the opening of its full service Financial Solutions Center in Red Bank, offering deposit, lending, and trust and asset management services. The company’s deposit gathering and lending activities are concentrated in the markets surrounding its branch office network. Lending Activities The company’s loan portfolio consists primarily of conventional first mortgage loans secured by one-to-four family residences. One-to-Four Family Mortgage Lending: The company offers both fixed-rate and adjustable-rate mortgage (ARM) loans secured by one-to-four family residences with maturities up to 30 years. The majority of such loans are secured by property located in the company’s primary market area. The company’s fixed-rate mortgage loans are made for terms from 10 to 30 years. The company sells some of the fixed-rate residential mortgage loans that it originates. Commercial Real Estate, Multi-Family, and Land Lending: The company originates commercial real estate loans that are secured by properties, or properties under construction, used for business purposes, such as office buildings or retail facilities. A majority of the company’s commercial real estate loans are located in its primary market area. The company originates commercial real estate loans with terms of approximately 10 years and amortization schedules approximately 30 years with fixed or adjustable rates. The commercial real estate portfolio includes loans for the construction of commercial properties. The company also originates multi-family mortgage loans and land loans on a limited basis. Residential Construction Lending: The company originates residential construction loans primarily on a construction/permanent basis with such loans converting to an amortizing loan following the completion of the construction phase. Majority of its residential construction loans are made to individuals building their residence. Consumer Loans: The company also offers consumer loans. It originates home equity loans secured by first or second liens on one-to-two family residences. These loans are originated as fixed-rate loans with terms ranging from 5 to 20 years. Commercial and Industrial Lending: The company originates commercial and industrial loans, and lines of credit (including for working capital, fixed asset purchases, and acquisition, receivable, and inventory financing) primarily in its market area. Investment Securities The company invests in various mortgage-backed securities (including ARM, balloon, and fixed-rate securities that are directly insured or guaranteed by either Federal Home Loan Mortgage Corporation, Federal National Mortgage Association, or Government National Mortgage Association), securities issued by the U.S. government and agencies thereof, corporate securities, and other investments permitted by applicable law and regulations. Deposits The company offers various deposit accounts with a range of interest rates and terms to retail, government, and business customers. The company’s deposits consist of money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits. Regulation and Supervision The company is a savings and loan holding company subject to regulation by the Board of Governors of the Federal Reserve System and the Securities and Exchange Commission. The bank is subject to regulation and supervision by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (FDIC). The bank is a member of the Federal Home Loan Bank System, and with respect to deposit insurance, of the Deposit Insurance Fund managed by the FDIC. Deposit accounts at the bank are insured by the Deposit Insurance Fund of the FDIC. History OceanFirst Financial Corp. was founded in 1902.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
OCFC:US $15.99 USD -0.02

OCFC Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Canandaigua National Corp $135.00 USD 0.00
Financial Institutions Inc $24.01 USD +0.0301
First Connecticut Bancorp Inc/Farmington CT $15.13 USD -0.05
Suffolk Bancorp $20.88 USD +0.175
First of Long Island Corp/The $23.88 USD -0.09
View Industry Companies
 

Industry Analysis

OCFC

Industry Average

Valuation OCFC Industry Range
Price/Earnings 16.3x
Price/Sales 3.0x
Price/Book 1.2x
Price/Cash Flow 16.4x
TEV/Sales NM Not Meaningful
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact OCEANFIRST FINANCIAL CORP, please visit www.oceanfirst.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.