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OceanFirst Financial OCFC Bank Owned Life Insurance
Bank Owned Life Insurance at other companies
Other financials
Where this comes from
Reported directly by OceanFirst Financial in its filing.
Tagged under the XBRL concept us-gaap:BankOwnedLifeInsurance.
The source filing: OceanFirst Financial’s 10-Q, filed August 7, 2026.
- Filed
- Aug 7, 2026, 4:09 PM EDT
- Fiscal quarter
- Q2 FY2026
- Calendar quarter
- Q2 2026
- Accession
- 0001004702-26-000120
| Line item | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Interest and dividends receivable | 91,497 | 49,010 |
| Other real estate owned | 13,453 | 10,266 |
| Premises and equipment, net | 126,609 | 112,743 |
| Bank owned life insurance | 503,910 | 270,301 |
| Goodwill | 529,836 | 517,481 |
| Intangibles | 90,613 | 9,046 |
| Other assets | 366,963 | 149,300 |
| Total assets | $23,270,010 | $14,564,317 |
Item 4. Controls and Procedures
FAQ
- What is OceanFirst Financial's bank owned life insurance?
- OceanFirst Financial (OCFC) reported bank owned life insurance of $503.91M in Q2 2026.
- How has OceanFirst Financial's bank owned life insurance changed year-over-year?
- OceanFirst Financial's bank owned life insurance increased by 85.8% year-over-year, from $271.18M to $503.91M.
- What is the long-term trend for OceanFirst Financial's bank owned life insurance?
- Over 5 years (2020 to 2025), OceanFirst Financial's bank owned life insurance has grown at a 0.4% compound annual growth rate (CAGR), from $265.25M to $270.3M.
- What does bank owned life insurance mean?
- This represents the cash surrender value of life insurance policies purchased by the bank on the lives of its key employees or officers. The bank is the beneficiary of these policies, which serve as a tax-advantaged vehicle for funding employee benefit obligations. It is a long-term asset that provides stable, non-interest income and helps offset the cost of benefit programs.
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