$OCFC
OCEANFIRST FINANCIAL CORP

2013 Q4 Form 10-Q Financial Statement

#000119312513434226 Filed on November 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $19.98M $21.51M
YoY Change -7.11% -8.23%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.000M $1.000M $1.100M
YoY Change 0.0% -9.09% 10.0%
% of Gross Profit
Operating Expenses $19.61M $13.78M $13.84M
YoY Change 48.07% -0.4% 5.39%
Operating Profit
YoY Change
Interest Expense $1.709M $2.440M $3.514M
YoY Change -46.12% -30.56% -19.61%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $2.700M $7.626M $7.639M
YoY Change -56.45% -0.17% -2.34%
Income Tax $784.0K $2.658M $2.680M
% Of Pretax Income 29.04% 34.85% 35.08%
Net Earnings $1.939M $4.968M $4.959M
YoY Change -52.02% 0.18% -2.27%
Net Earnings / Revenue 24.86% 23.05%
Basic Earnings Per Share $0.12 $0.29 $0.28
Diluted Earnings Per Share $0.11 $0.29 $0.28
COMMON SHARES
Basic Shares Outstanding 17.39M shares 17.05M shares 17.56M shares
Diluted Shares Outstanding 17.21M shares 17.62M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $23.68M $22.64M $22.23M
YoY Change 6.53% 1.84% 1.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $15.00M
YoY Change 66.67%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $2.250B $2.286B $2.304B
YoY Change -0.86% -0.79% 0.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $68.00M $70.00M $72.00M
YoY Change 11.48% -2.78% 0.0%
Long-Term Debt Due $23.00M
YoY Change
Total Short-Term Liabilities $68.00M $23.00M $72.00M
YoY Change 11.48% -68.06% 0.0%
LONG-TERM LIABILITIES
Long-Term Debt $28.00M $5.000M $28.00M
YoY Change 0.0% -82.14% 0.0%
Other Long-Term Liabilities $18.00M $17.00M $11.00M
YoY Change 12.5% 54.55% 83.33%
Total Long-Term Liabilities $46.00M $22.00M $39.00M
YoY Change 4.55% -43.59% 14.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $68.00M $23.00M $72.00M
Total Long-Term Liabilities $46.00M $22.00M $39.00M
Total Liabilities $2.035B $2.073B $2.085B
YoY Change -0.69% -0.59% 0.91%
SHAREHOLDERS EQUITY
Retained Earnings $206.2M $206.3M $196.2M
YoY Change 4.08% 5.15%
Common Stock $336.0K $336.0K $336.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $245.3M $245.3M $235.8M
YoY Change 3.27% 4.02%
Treasury Stock Shares 16.18M shares 16.18M shares 15.55B shares
Shareholders Equity $214.4M $213.8M $219.7M
YoY Change
Total Liabilities & Shareholders Equity $2.250B $2.286B $2.304B
YoY Change -0.86% -0.79% 0.98%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $1.939M $4.968M $4.959M
YoY Change -52.02% 0.18% -2.27%
Depreciation, Depletion And Amortization $1.000M $1.000M $1.100M
YoY Change 0.0% -9.09% 10.0%
Cash From Operating Activities $8.700M $6.700M $1.100M
YoY Change 61.11% 509.09% -90.76%
INVESTING ACTIVITIES
Capital Expenditures -$1.800M -$300.0K -$500.0K
YoY Change 157.14% -40.0% -16.67%
Acquisitions
YoY Change
Other Investing Activities $24.60M $16.90M $7.100M
YoY Change -35.09% 138.03% -214.52%
Cash From Investing Activities $22.90M $16.50M $6.600M
YoY Change -38.61% 150.0% -197.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -41.60M -21.50M 7.800M
YoY Change 17.18% -375.64% -78.57%
NET CHANGE
Cash From Operating Activities 8.700M 6.700M 1.100M
Cash From Investing Activities 22.90M 16.50M 6.600M
Cash From Financing Activities -41.60M -21.50M 7.800M
Net Change In Cash -10.00M 1.700M 15.50M
YoY Change -238.89% -89.03% -62.65%
FREE CASH FLOW
Cash From Operating Activities $8.700M $6.700M $1.100M
Capital Expenditures -$1.800M -$300.0K -$500.0K
Free Cash Flow $10.50M $7.000M $1.600M
YoY Change 72.13% 337.5% -87.2%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2013Q3 us-gaap Common Stock Shares Authorized
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CY2013Q3 us-gaap Treasury Stock Shares
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LoansAndLeasesReceivableImpairedTroubledDebtRestructuringPerformingLoanAmount
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LoansAndLeasesDeferredOriginationCosts
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107024000
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CY2013Q3 ocfc Debt Securities Maturities After Five Through Ten Years Fair Value
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CY2013Q3 ocfc Debt Securities Maturities After Ten Years Fair Value
DebtSecuritiesMaturitiesAfterTenYearsFairValue
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CY2013Q3 ocfc Available For Sale And Held To Maturity Securities Amount Callable Fair Value Disclosure
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45526000
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2020000
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31201000
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198143000
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647000
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4568000
CY2012Q4 us-gaap Interest Receivable
InterestReceivable
5976000
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25513000
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dei Trading Symbol
TradingSymbol
OCFC
dei Entity Registrant Name
EntityRegistrantName
OCEANFIRST FINANCIAL CORP
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Entity Central Index Key
EntityCentralIndexKey
0001004702
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
us-gaap Earnings Per Share Diluted
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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b><u>Note 7. Recent Accounting Pronouncements</u></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Accounting Standards Update No.&#xA0;2013-02, &#x201C;Comprehensive Income &#x2013; Reporting Amounts Reclassified Out of Accumulated Other Comprehensive Income&#x201D; requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under Generally Accepted Accounting Principles (&#x201C;GAAP&#x201D;) to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under GAAP that provide additional detail about those amounts. The standard is effective prospectively for reporting periods, including interim periods, beginning after December&#xA0;15, 2012. For the nine months ended September&#xA0;30, 2013, the Company had a minor reclassification out of accumulated other comprehensive income and into net income which was not considered significant.</p> </div>
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CY2013Q3 ocfc Recoveries
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220000
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AdditionalLossesAgainstReserveForRepurchasedLoans
220000

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