TOMS RIVER, N.J., July 24, 2014 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (Nasdaq:OCFC), (the "Company"), the holding company for OceanFirst Bank (the "Bank"), today announced that diluted earnings per share increased to $0.30 for the quarter ended June 30, 2014, as compared to $0.29 for the corresponding prior year quarter. For the six months ended June 30, 2014, diluted earnings per share increased to $0.58, as compared to $0.55 for the corresponding prior year period. Highlights for the quarter included:
- Higher earnings were driven by loan portfolio growth of $60.9 million.
- Commercial loans outstanding increased $35.3 million, the fourth consecutive quarter of double digit growth.
- Non-performing loans decreased $4.6 million and net charge-offs fell by $253,000, 48% from the linked quarter.