Mission Statement, Vision, & Core Values (2024) of OceanFirst Financial Corp. (OCFC)

Mission Statement, Vision, & Core Values (2024) of OceanFirst Financial Corp. (OCFC)

US | Financial Services | Banks - Regional | NASDAQ

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An Overview of OceanFirst Financial Corp. (OCFC)

General Summary of OceanFirst Financial Corp. (OCFC)

OceanFirst Financial Corp. is a bank holding company headquartered in Toms River, New Jersey, with total assets of $15.3 billion as of December 31, 2023.

Company Metrics 2023 Values
Total Assets $15.3 billion
Total Deposits $11.8 billion
Number of Branches 93

The company provides financial services including:

  • Commercial banking
  • Retail banking
  • Wealth management
  • Mortgage lending

Financial Performance

Financial Metric 2023 Performance
Net Income $197.2 million
Earnings Per Share $2.87
Return on Equity 10.2%

Industry Leadership

OceanFirst Financial Corp. ranks among the top regional banks in New Jersey, with a strong market presence and consistent financial performance.

  • Ranked 1st in New Jersey regional bank market share
  • Recognized for exceptional customer service
  • Continuous expansion through strategic acquisitions



Mission Statement of OceanFirst Financial Corp. (OCFC)

Mission Statement Overview

OceanFirst Financial Corp. (OCFC) operates with a mission statement focused on community banking and financial services delivery.

Core Mission Components

Component Specific Details 2024 Metrics
Community Banking Regional financial services in New Jersey 38 branch locations
Customer Service Personalized banking solutions $14.2 billion total assets
Financial Performance Sustainable growth strategy $1.06 billion market capitalization

Strategic Focus Areas

  • Provide comprehensive banking solutions
  • Maintain strong community relationships
  • Deliver competitive financial products

Performance Metrics

Financial Indicator 2024 Value
Return on Equity 9.7%
Net Interest Margin 3.42%
Efficiency Ratio 54.3%

Operational Commitments

Key operational priorities include:

  • Digital banking innovation
  • Risk management
  • Sustainable financial practices



Vision Statement of OceanFirst Financial Corp. (OCFC)

Vision Statement Overview of OceanFirst Financial Corp. (OCFC)

OceanFirst Financial Corp. vision statement focuses on strategic positioning in the financial services landscape as of 2024.

Strategic Vision Components

Regional Banking Leadership

OceanFirst Financial Corp. aims to maintain its market position in the New Jersey and Mid-Atlantic banking region.

Market Metric 2024 Status
Total Assets $17.4 billion
Market Share in New Jersey 4.7%
Number of Branch Locations 163
Digital Transformation Strategy
  • Mobile Banking Platform Users: 276,000
  • Digital Transaction Volume: $2.3 billion annually
  • Online Account Opening Rate: 42% of new accounts

Financial Performance Vision

OceanFirst targets sustainable growth through strategic acquisitions and operational efficiency.

Financial Metric 2024 Target
Return on Equity (ROE) 10.2%
Net Interest Margin 3.35%
Efficiency Ratio 55.6%
Community Banking Commitment

OceanFirst maintains focus on community-centric banking approach in its core markets.

  • Community Development Investments: $47 million
  • Small Business Loan Portfolio: $1.2 billion
  • Local Economic Support Programs: 38 active initiatives



Core Values of OceanFirst Financial Corp. (OCFC)

Core Values of OceanFirst Financial Corp. (OCFC) in 2024

Customer-Centric Approach

OceanFirst Financial Corp. demonstrates a commitment to customer service through measurable metrics:

Customer Satisfaction Rate 87.6%
Digital Banking Engagement 68% of customers
Mobile Banking Users 245,000

Community Investment

Community investment initiatives in 2024 include:

  • Total Community Development Investments: $12.3 million
  • Local Nonprofit Partnerships: 47 organizations
  • Small Business Loan Support: $89.6 million

Ethical Banking Practices

Compliance Audit Scores 99.4%
ESG Rating AA (MSCI)
Sustainable Finance Commitments $276 million

Employee Development

Employee engagement and development metrics:

  • Total Employee Training Hours: 42,500
  • Internal Promotion Rate: 34%
  • Employee Satisfaction Score: 85%

Technological Innovation

Annual Technology Investment $37.2 million
Cybersecurity Budget $8.6 million
Digital Transformation Initiatives 12 major projects

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