OceanFirst Financial Corp. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company's total interest income was $19,960,000 compared to $21,189,000 a year ago. Net interest income was $18,251,000 compared to $18,017,000 a year ago. Net interest income after provision for loan losses was $18,051,000 compared to $14,917,000 a year ago. Income before provision for income taxes was $2,723,000 compared to $6,165,000 a year ago. Net income was $1,939,000 or $0.11 per diluted share compared to $4,041,000 or $0.23 per diluted share a year ago. Net income for the quarter and year ended December 31, 2013 was adversely impacted by the non-recurring expenses relating to the prepayment of FHLB advances and the consolidation of two branches. Return on average assets was 0.34% compared to 0.70% a year ago. Return on average stockholders' equity was 3.64% compared to 7.36% a year ago.

For the year, the company's total interest income was $80,157,000 compared to $87,615,000 a year ago. Net interest income was $70,529,000 compared to $73,512,000 a year ago. Net interest income after provision for loan losses was $67,729,000 compared to $65,612,000 a year ago. Income before provision for income taxes was $24,943,000 compared to $30,947,000 a year ago. Net income was $16,330,000 or $0.95 per diluted share compared to $20,020,000 or $0.12 per diluted share a year ago. Diluted earnings per share for the quarter and the year ended December 31, 2013 were adversely impacted by $0.19 per diluted share due to the previously announced strategic initiatives relating to the prepayment of $159.0 million of Federal Home Loan Bank advances, at a cost of $4.3 million, and the consolidation of two branches into newer, in-market facilities, at a cost of $579,000. Return on average assets was 0.71% compared to 0.87% a year ago. Return on average stockholders' equity was 7.51% compared to 9.15% a year ago.