Oceanfirst Financial Corp. · NASDAQ:OCFC
Oceanfirst Financial — Q3 2025 Earnings Presentation
28 slides from Oceanfirst Financial's earnings presentation, Oct 22, 2025
Slide 1: 3Q 2025 Earnings Release Supplement
. . . (1) The 3Q 2025 Earnings Release Supplement should be read in conjunction with the Earnings Release furnished as Exhibit 99.1 to the Form 8-K filed with the SEC on October 22, 2025. OceanFirst Financial Corp. 3Q 2025 Earnings Release Supplement(1) October 2025 Exhibit 99.2
Slide 2: Legal Disclaimer
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Legal Disclaimer FORWARD LOOKING STATEMENTS. In addition to historical information, this presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are base
Slide 3: Tailored Footprint Across Key Markets
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Tailored Footprint Across Key Markets Overview of OceanFirst Corporate Overview & Market Data Ticker OCFC (NASDAQ) HQ Red Bank, NJ Branch Network 40 branches; 9 commercial banking centers Core Markets New Jersey, New York City, Greater
Slide 4: Proven Historical Net Interest Income and Loan Growth
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Proven Historical Net Interest Income and Loan Growth 120,262 169,218 240,502 255,971 312,951 305,338 377,477 369,731 334,035 264,945 3.46% 2016 3.52% 2017 3.71% 2018 3.62% 2019 3.16% 2020 2.93% 2021 3.37% 2022 3.02% 2023 2.72% 2024 2.9
Slide 5: Successful Commercial Loan Growth and Geographic Diversification
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Successful Commercial Loan Growth and Geographic DiversificationFont 48% 68% 2016 Q3-25 +21% (Commercial % of Loan Portfolio) Commercial Loans by Geography(1) as of Q3-25 Emphasis on Commercial Increase of $5.4B in commercial loans sinc
Slide 6: Balanced Approach to Deposit Pricing and Growth
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Balanced Approach to Deposit Pricing and Growth Deposit Composition ($’millions) 646 607 867 937 1,373 775 1,542 2,445 2,081 2,215673 661 877 898 1,491 1,608 1,488 1,399 1,066 1,000 459 364 570 784 736 714 1,022 1,301 1,398 1,627 1,954
Slide 7: Conservative Credit Risk Profile
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Conservative Credit Risk ProfileFont 0.05% 2017 0.09% 0.01% 0.03% 0.13% 0.05% 2018 0.05% 0.08% 0.00% 0.12% 0.04% 2019 0.14% 0.17% 0.02% 0.11% 0.03% 2020 0.02% 0.10% 0.00% 0.07% 0.02% 2021 0.07% 0.04% 0.00% 0.06% 0.02% 2022 0.18% 0.00% 0
Slide 8: Business Model Strength Driving Significant Capital Return
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Business Model Strength Driving Significant Capital ReturnFont $12.33 $0.49 $0.55 $1.01 $13.67 2015 $1.04 $1.55 $12.94 2016 $1.09 $2.15 $13.58 2017 $1.39 $2.77 $14.26 2018 $1.97 $3.45 $15.13 2019 $2.25 $4.13 $14.98 2020 $2.86 $4.81 $15.
Slide 9: Quarterly
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Quarterly Earnings Update 9
Slide 10: Q3-25 Financial Highlights
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Q3-25 Financial Highlights (1) For non-GAAP financial measures, please refer to the “Non-GAAP Reconciliations” in the Appendix for a reconciliation to GAAP financial information (2) Q3-25 CET1 Ratio – Preliminary Estimate. (3) See detai
Slide 11: Premier Bank Update
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Premier Bank Update Multi-Year Aspiration Goals Performance To Date ▪ Teams to achieve their full run-rate in 2 to 3 years. ▪ Target deposits of $2 to $3 billion by end of 2027. ▪ 9 Teams hired and onboarded, totaling 36 FTEs. ▪ $242 mi
Slide 12: Loan Portfolio Trends
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Loan Portfolio Trends Moderated Loan Growth in the Portfolio ($’millions) ▪ Total loans increased $373 million (or 14% annualized), including $219 million of commercial and industrial loan growth. ▪ Total loan pipeline at Q3-25 is $864
Slide 13: Quarterly Credit Trends (1 of 2)
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 103,384 103,534 125,454 124,112 104,773 85,721 54,526 23,811 21,521 18,972 3.58% 1.89% Q3-24 3.49% 1.56% Q4-24 3.70% 1.47% Q1-25 3.82% 1.43% Q2-25 1.17% Q3-25 Strong asset quality trends driven by prudent growth and strong credit risk m
Slide 14: Quarterly Credit Trends (2 of 2)
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Quarterly Credit Trends (2 of 2) Loan Allowance for Credit Losses (ACL) Plus PCD & General Credit Marks / Total Loans NCOs / (Recoveries) and Provision for Credit Loss Expense ($’thousands) 0.06% 0.69% Q3-24 0.06% 0.73% Q4-24 0.05% 0.78
Slide 15: Deposit Trends
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Deposit Trends ▪ Deposits increased by $204 million (or 2.0%), driven by an increase in non-maturity deposits of $287 million (or 3.6%) from the prior quarter. ▪ The decrease in time deposits was primarily driven by brokered CD run-off
Slide 16: Net Interest Income and Net Interest Margin Trends
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Net Interest Income and Net Interest Margin Trends Net Interest Margin NIM Bridge 2.67% Q3-24 2.69% Q4-24 2.90% Q1-25 2.91% Q2-25 2.91% Q3-25 NIM Net Interest Income ($’000) 82,219 Q3-24 83,329 Q4-24 86,652 Q1-25 87,636 Q2-25 90,657 Q3-
Slide 17: Expense Discipline and Focused Investment
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Core Efficiency Ratio(1) Expense Discipline and Focused Investment Core Non-Interest Expense(1) ($’000) 9,512 10,328 9,081 10,867 10,517 1,970 2,620 2,425 4,336 3,467 5,940 6,366 6,647 6,808 7,164 2,618 2,517 2,983 2,898 2,8266,183 6,30
Slide 18: Generating Consistent Returns
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Generating Consistent Returns Book Value and Tangible Book Value per Common Share(1) ($) Core ROAA(1), ROTE(1), and ROTCE(1) ▪ Capital remains strong and above “well capitalized” levels. ▪ Tangible book value per common share increased
Slide 19: Management Q4-25 Outlook
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Management Q4-25 Outlook 19 Outlook Comments Loans 2-3% growth sequentially • Expecting continued steady growth, subject to unanticipated payoffs and supported by our strong pipeline. • Growth will be predominately driven by C&I with mu
Slide 20: Management Full-Year Outlook
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Outlook Comments Loans 7-9% growth • Expecting continued steady growth, subject to unanticipated payoffs and supported by our strong pipeline. • Growth will be driven by C&I verticals offset by run-off on the Residential portfolio. • Cr
Slide 21: Appendix
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Appendix 21
Slide 22: Diversified CRE Portfolio with Conservative Risk Profile
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Diversified CRE Portfolio with Conservative Risk Profile ▪ Underlying collateral is diversified. ▪ Low concentration in the Multi-Family portfolio, which represents 6% of total assets. ▪ Maturity wall is modest and has a minimal impact:
Slide 23: Conservative Risk Profile of CRE IO Office & Construction
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Conservative Risk Profile of CRE IO Office & Construction Portfolio Highlights ▪ 97% of Office & Construction loans are pass-rated (not classified or criticized). ▪ 93% of Office & Construction loans are classified as non-Central Busine
Slide 24: Track Record of Strong Credit Performance
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 COVID-19 Pandemic Track Record of Strong Credit Performance ▪ From 2006 to Q3-25, inclusive of the Global Financial Crisis, Hurricane Sandy, and the COVID-19 Pandemic, OCFC’s NCO to average loans totaled 13 bps per year compared to 71 b
Slide 25: Northeast Outperforms Through Credit Cycles
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 0.29% 0.32% 0.51% 0.63% 0.80% 1.43% Northeast Midwest Mid Atlantic Southeast Southwest West COVID-19 Pandemic Hurricane Sandy Global Financial Crisis Northeast Outperforms Through Credit Cycles… ▪ Historically, net charge-offs for North
Slide 26: Similar Story in Commercial Real Estate Portfolios
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Hurricane Sandy Global Financial Crisis COVID-19 Pandemic …With a Similar Story in Commercial Real Estate Portfolios 0.03% 0.04% 0.09% 0.10% 0.11% 0.16% Northeast Southwest Southeast Mid Atlantic Midwest West GFC Peak CRE NCOs ▪ Northea
Slide 27: Non-GAAP Reconciliations (1 of 2)
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Non-GAAP Reconciliations (1 of 2) 27 Non-GAAP Reconciliation For the Three Months Ended September 30, June 30, March 31, December 31, September 30, 2025 2025 2025 2024 2024 Core Earnings: Net income available to common stockholders (GAA
Slide 28: Non-GAAP Reconciliations (2 of 2)
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Non-GAAP Reconciliations (2 of 2) 28 Non-GAAP Reconciliation For the Three Months Ended September 30, June 30, March 31, December 31, September 30, 2025 2025 2025 2024 2024 Tangible Equity: Total stockholders' equity $ 1,653,427 $ 1,643