Business Context and Reporting Period
This Form 8-K filing by OceanFirst Financial Corp. is dated July 21, 2010. The report primarily serves to announce the Company's financial results for the quarter ended June 30, 2010, and to disclose significant corporate governance and shareholder events occurring on July 21 and July 22, 2010.
Key Financial Metrics
The filing references a press release (Exhibit 99.1) containing the detailed financial results for the quarter ended June 30, 2010. However, the text of this 8-K does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The only specific financial figure disclosed in this document is the declaration of a regular quarterly cash dividend of $0.12 per share.
Material Changes and Corporate Events
- Executive Appointment: On July 21, 2010, Vito R. Nardelli was appointed President of OceanFirst Financial Corp. and OceanFirst Bank, effective immediately. He previously served as Executive Vice President and Chief Operating Officer since September 2005.
- Dividend Declaration: On July 22, 2010, the Board declared a quarterly cash dividend of $0.12 per share. The dividend is payable on August 13, 2010, to stockholders of record as of August 2, 2010.
Guidance, Outlook, and Risks
The filing text does not contain specific management commentary regarding future guidance, outlook, risks, contingencies, or unusual items. Investors are directed to the attached press release (Exhibit 99.1) for further details on the financial results and any associated commentary.
Key Facts for Investor Verification
- Verify the specific revenue, net income, and asset quality metrics for the quarter ended June 30, 2010, by reviewing the attached press release (Exhibit 99.1).
- Confirm the impact of the leadership transition with Vito R. Nardelli assuming the role of President.
- Note the dividend payment date of August 13, 2010, and the record date of August 2, 2010.