OceanFirst Bank

OceanFirst Bank Locations
975 Hooper Avenue
Toms River, NJ 8753
732-240-4500
www.oceanfirst.com

OceanFirst Bank is headquartered in Toms River and is the 12st largest bank in the state of New Jersey. It is also the 302nd largest bank in the nation. It was established in 1902 and as of September of 2011, it had grown to 373 employees at 23 locations. OceanFirst Bank has a 4-star health rating.

OceanFirst Bank Routing Number: 231270353

Related Posts

Ocean First Bank Blue Chip Money Mkt Acct APY 1.75% Guaranteed To Oct 1 2010 (Forum) - 6/16/2010

Ocean First Bank is offering their Bluechip Money Market Acct with an APY of 1.75% locked in until Oct 1, 2010.  This applies to balances of $25K to $500K.  Must open Simply Great Checking account to qualify.  Must open in person.  Mos

2.50% Money Market Account at OceanFirst Bank in New Jersey - Local Only - 5/19/2009

OceanFirst Bank is having a promotion on its BlueChip Investment Account with a 2.50% APY on balances of at least $15,000, and up to $500,000. The rate is guaranteed to August 1, 2009. The rate for balances under $15,000 is 0.50%, and a $25,000 minimum...

4.25% 5-Month CD at a New Jersey Bank - and $100 Checking Bonus (OceanFirst) - 3/24/2008

OceanFirst Bank is having a grand opening special at its new Freeport office. One special is a 4.25% APY 5-month CD. The minimum deposit is $500, and the maximum is $100,000. It requires that you also open their Simply Great Checking Account. When you...


Data for Q3 2011


Institution Statistics


OceanFirst Bank
OTS #01437
FDIC Certificate #28359
BankRate ReportView
Year Established1902
Employees373
Primary RegulatorOCC

Assets and Liabilities

Assets$2.29 billion
Loans$1.59 billion
Deposits$1.71 billion
Equity Capital$214.95 million
Loan Loss Allowance$15.23 million
Unbacked Noncurrent Loans$48.40 million
Real Estate Owned$1.01 million

Historic Data - September 2010

Assets$2.23 billion
Equity Capital$196.90 million
Loan Loss Allowance$12.62 million
Unbacked Noncurrent Loans$33.77 million
Real Estate Owned$2.24 million

Profit Margin - Quarterly

Net Interest Margin3.69%
Return on Assets0.96%
Return on Equity10.4%
Interest Income$72.32 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio3
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 OceanFirst Bank had $49.41 million in non-current loans and owned real-estate with $230.18 million in equity and loan loss allowances on hand to cover it. This gives OceanFirst Bank a Texas Ratio of 21.47% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for OceanFirst Bank held steady from 17.19% as of September 30, 2010 to 21.47% as of September 30, 2011, resulting in a negative change of 24.88%. This indicates that the balance sheet and financial strength for OceanFirst Bank has held steady in recent periods.
Deposit Growth4
In the past year, OceanFirst Bank has increased its total deposits by $68.13 million, resulting in 4.16% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth OceanFirst Bank has shown is above average.
Capitalization4
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. OceanFirst Bank has $2.29 billion in assets with $230.18 million in equity, resulting in a capitalization level of 10.05%, which is above average.
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