OCEANFIRST FINANCIAL CORP Debt Disclosure
| December 31, | ||||||||||||||||||||||||||
| 2025 | 2024 | |||||||||||||||||||||||||
| Amount | Weighted Average Rate | Amount | Weighted Average Rate | |||||||||||||||||||||||
FHLB advances | $ | 1,397,179 | 4.19 | % | $ | 1,072,611 | 4.62 | % | ||||||||||||||||||
| Securities sold under agreements to repurchase with customers | 54,434 | 2.62 | 60,567 | 2.29 | ||||||||||||||||||||||
| Other borrowings | 255,233 | 6.45 | 197,546 | 5.96 | ||||||||||||||||||||||
| Total borrowed funds | $ | 1,706,846 | 4.48 | % | $ | 1,330,724 | 4.71 | % | ||||||||||||||||||
FHLB Advances | Repurchase Agreements | |||||||||||||
| For the Year Ended December 31, | ||||||||||||||
| 2026 | $ | 1,195,311 | $ | 54,434 | ||||||||||
| 2027 | 200,501 | — | ||||||||||||
| 2028 | 1,367 | — | ||||||||||||
| Total | $ | 1,397,179 | $ | 54,434 | ||||||||||
| Type of Debt | Stated Value | Carrying Value | Contractual Interest Rate | Maturity | ||||||||||||||||||||||
| Subordinated debt | $ | 185,000 | $ | 181,979 | 6.375 | % | (1) | November 15, 2035 | ||||||||||||||||||
| Trust preferred | 10,000 | 8,557 | 3 month SOFR plus 2.51% | December 15, 2034 | ||||||||||||||||||||||
| Trust preferred | 30,000 | 24,684 | 3 month SOFR plus 1.61% | March 15, 2036 | ||||||||||||||||||||||
| Trust preferred | 5,000 | 5,000 | 3 month SOFR plus 1.91% | August 1, 2036 | ||||||||||||||||||||||
| Trust preferred | 7,500 | 7,500 | 3 month SOFR plus 1.92% | November 1, 2036 | ||||||||||||||||||||||
| Trust preferred | 10,000 | 8,239 | 3 month SOFR plus 1.79% | June 30, 2037 | ||||||||||||||||||||||
| Trust preferred | 10,000 | 10,000 | 3 month SOFR plus 2.01% | September 1, 2037 | ||||||||||||||||||||||
| Trust preferred | 10,000 | 8,131 | 3 month SOFR plus 1.65% | October 1, 2037 | ||||||||||||||||||||||
| Finance lease | 1,143 | 1,143 | 5.625 | % | July 31, 2029 | |||||||||||||||||||||
| Total | $ | 268,643 | $ | 255,233 | ||||||||||||||||||||||
| For the Year Ended December 31, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
FHLB advances | $ | 44,997 | $ | 35,686 | $ | 46,000 | ||||||||||||||
| Securities sold under agreements to repurchase with customers | 1,711 | 1,893 | 931 | |||||||||||||||||
| Other borrowings | 19,343 | 28,426 | 19,294 | |||||||||||||||||
| Total interest expense on borrowings | $ | 66,051 | $ | 66,005 | $ | 66,225 | ||||||||||||||
| Loans | Debt and Equity Securities | Total | ||||||||||||||||||
| December 31, 2025 | ||||||||||||||||||||
FHLB and FRB | $ | 7,923,979 | $ | 1,367,469 | $ | 9,291,448 | ||||||||||||||
| Repurchase agreements | — | 78,422 | 78,422 | |||||||||||||||||
| Total pledged assets | $ | 7,923,979 | $ | 1,445,891 | $ | 9,369,870 | ||||||||||||||
| December 31, 2024 | ||||||||||||||||||||
FHLB and FRB | $ | 7,427,247 | $ | 984,515 | $ | 8,411,762 | ||||||||||||||
| Repurchase agreements | — | 85,529 | 85,529 | |||||||||||||||||
| Total pledged assets | $ | 7,427,247 | $ | 1,070,044 | $ | 8,497,291 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 27, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 28, 2022 | |
About Debt Disclosures
Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.
Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.