OceanFirst Financial Corp. announced unaudited consolidated earnings results for fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total interest income of $47,906,000 compared to $39,904,000 a year ago. Net interest income was $42,505,000 compared to $35,754,000 a year ago. Income before provision for income taxes was $20,142,000 compared to $9,036,000 a year ago. Net income was $9,956,000 or $0.30 per basic and diluted share compared to $6,052,000 or $0.22 per basic and diluted share a year ago. Return on average assets was 0.73% compared to 0.53% a year ago. Return on average stockholders' equity was 6.56% compared to 5.10% a year ago. Return on average tangible stockholders' equity was 8.89% compared to 6.48% a year ago. Core earnings were $10,576,000 or $0.38 per diluted share compared to $5,671,000 or $0.33 per diluted share a year ago. Core earnings was $14,860,000 compared to $10,576,000 a year ago. Core diluted earnings per share was $0.45 compared to $0.38 a year ago. Core return on average assets was 1.09% compared to 0.92% a year ago. Core return on average tangible stockholders' equity was 13.27% compared to 11.33% a year ago.

For the year, the company reported total interest income of $188,829,000 compared to $133,425,000 a year ago. Net interest income was $169,218,000 compared to $120,262,000 a year ago. Income before provision for income taxes was $65,325,000 compared to $35,199,000 a year ago. Net income was $42,470,000 or $1.28 per diluted share compared to $23,046,000 or $0.98 per diluted share a year ago. Return on average assets was 0.80% compared to 0.62% a year ago. Return on average stockholders' equity was 7.20% compared to 6.08% a year ago. Return on average tangible stockholders' equity was 9.82% compared to 7.13% a year ago.

For the quarter ended December 31, 2017, net charge-offs were $2,278,000 as compared to $944,000 a year ago.