TOMS RIVER, N.J., Jan. 20, 2011 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (Nasdaq:OCFC), the holding company for OceanFirst Bank (the "Bank"), today announced a record $20.4 million of net income for the year 2010. Income available to common stockholders increased to $5.8 million for the quarter ended December 31, 2010, as compared to $5.2 million for the prior linked quarter, and $1.9 million for the corresponding prior year period. Diluted earnings per share for the quarter ended December 31, 2010 was $0.32, an increase of $0.03 from the prior linked quarter. For the year, diluted earnings per share increased 14.3%, to $1.12, from $0.98 in 2009. Additional highlights for the quarter and year just concluded:
- Earnings per share has grown in each of the last four quarters. Return on average stockholders' equity was 11.54% for the quarter ended December 31, 2010.
- Driven by 10.9% year over year balance sheet growth, total revenue for 2010 (i.e., net interest income and total other income) also was a record $92.4 million.
- Year-end deposits grew 22.0% to $1,664.0 million with core deposits (i.e., all deposits except time deposits) comprising yet another record 82.9% of total deposits.