Oceanfirst Financial Corp. · NASDAQ:OCFC
Oceanfirst Financial — Q1 2026 Earnings Presentation
27 slides from Oceanfirst Financial's earnings presentation, May 1, 2026
Slide 1: OceanFirst Financial Corp. Investor Presentation May 2026
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 1 OceanFirst Bank OceanFirst Financial Corp. Investor Presentation(1) May 2026 (1) The Q1 2026 Investor Presentation should be read in conjunction with the Earnings Release furnished as Exhibit 99.1 to the Form 8-K filed with the SEC on
Slide 2: Legal Disclaimer
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Legal Disclaimer 2 FORWARD LOOKING STATEMENTS. In addition to historical information, this presentation contains certain forward-looking statements within the meaning of the federal securities laws, which are based on certain assumption
Slide 3: Overview of OceanFirst: Tailored Footprint Across Key Markets
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Commercial Banking Centers Retail Branches Premier Locations 2 3 1 Commercial Banking Centers Retail Branches Premier Locations(4) Tailored Footprint Across Key Markets Overview of OceanFirst Corporate Overview & Market Data Ticker OCFC
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 120,262 169,218 240,502 255,971 312,951 305,338 377,477 369,731 334,035 360,223 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 40% 29% 22% 4% 3% New Jersey New York Philadelphia Boston Other Markets 2% Baltimore Successful Commercial Loan Growth and Geographic DiversificationFont Total: $7.8B 5 (1) Based on location where loan is managed. (2) Other includes Was
Slide 6: Balanced Approach to Deposit Pricing and Growth
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Balanced Approach to Deposit Pricing and Growth Deposit Composition ($’millions) 646 867 937 1,373 775 1,542 2,445 2,081 2,469 2,387673 661 877 898 1,491 1,608 1,488 1,399 1,066 986 986 784 736 714 1,022 1,301 1,413 1,489 1,627 1,954 2,
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 (1) PCD loans are not included in these metrics. Refer to the “Asset Quality” section in the Earnings Release for additional information. (2) Peer reporting is on a one quarter lag. 0.54% 0.69% 2017
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: OceanFirst's AI and Automation
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 OceanFirst’s AI and Automation 9 ▪ Drive operating leverage and scale through automation. ▪ Enhance the customer experience through best in-class speed to market and service quality. ▪ Strengthen risk management and operational controls
Slide 10: OceanFirst Bank Quarterly
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 1010 OceanFirst Bank Quarterly Earnings Update
Slide 11: Q1-26 Financial Highlights
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Q1-26 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. Financial Highlights $0.43 Core Diluted EPS(1) $96 millio
Slide 12: Loan Portfolio Trends
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Loan Portfolio Trends Moderated Loan Growth ($’millions) ▪ Total loans increased $92 million (3% annualized), including $105 million (19% annualized) of commercial and industrial loan growth. ▪ The company maintained strong momentum, de
Slide 13: Quarterly Credit Trends (1 of 2)
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 125,454 124,112 104,773 93,715 154,441 23,811 21,521 18,972 18,161 3.70% 1.47% Q1-25 3.82% 1.43% Q2-25 3.68% 1.17% Q3-25 1.01% Q4-25 Q1-26 3.47% 1.53% 15,901 Strong asset quality trends driven by prudent growth and strong credit risk ma
Slide 14: Quarterly Credit Trends (2 of 2)
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Quarterly Credit Trends (2 of 2) Loan Allowance for Credit Losses (ACL) Plus PCD & General Credit Marks / Total Loans NCOs / (Recoveries) and Provision for Credit Loss Expense ($’thousands) 0.05% 0.78% Q1-25 0.05% 0.78% Q2-25 0.04% 0.77
Slide 15: 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 Q1-26, inclusive of the Global Financial Crisis, Hurricane Sandy, and the COVID-19 Pandemic, OCFC’s NCO to average loans totaled 14 bps per year compared to 72 b
Slide 16: 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 $192 million (or 1.7%), driven by an increase in non-maturity deposits of $273 million (or 3.2%) from the prior quarter. ▪ The decrease in time deposits by $82 million was primarily driven by lower
Slide 17: Net Interest Income and Net Interest Margin Trends
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Net Interest Income and Net Interest Margin Trends Net Interest Margin NIM Bridge 2.90% Q1-25 2.91% Q2-25 2.91% Q3-25 2.87% Q4-25 2.93% Q1-26 NIM Net Interest Income ($’000) 86,652 Q1-25 87,636 Q2-25 90,657 Q3-25 95,278 Q4-25 96,447 Q1-
Slide 18: 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) ($’000) 9,081 10,867 10,517 9,757 9,399 2,425 4,336 3,467 3,579 3,222 6,647 6,808 7,164 7,104 7,052 2,983 2,898 2,826 3,102 3,215 6,418 6,32
Slide 19: Generating Consistent Returns
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Generating Consistent Returns Book Value and Tangible Book Value per Common Share(1) ($) Core ROAA(1), ROTE(1), and ROTCE(1) ▪ Capital remains strong and above “well capitalized” levels. ▪ Tangible book value per common share increased
Slide 20: Management Q2-26 Outlook
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 Management Q2-26 Outlook(1) 20 Outlook Comments Loans 1-2% growth sequentially • Expecting continued steady growth, subject to unanticipated payoffs. • Growth will be predominately driven by C&I with muted growth in CRE and Construction
Slide 21: 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 from the Residential portfolio. •
Slide 22: Appendix
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 22 22 22 OceanFirst Bank Appendix OCEANFIRST BANK | M a y 1, 2026
Slide 23: 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 7% of total assets. ▪ Maturity wall is modest and has a minimal impact:
Slide 24: Northeast Outperforms Through Credit Cycles
. . . 0-51-141 0-171-232 0-169-83 0-176-80 238-112-8 144-187-35 COVID-19 Pandemic Hurricane Sandy Global Financial Crisis Northeast Outperforms Through Credit Cycles… ▪ Historically, net charge-offs for Northeastern headquartered banks have greatly outperformed major exchange traded U.S. banks headq
Slide 25: 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 GFC Peak CRE NCOs ▪ Northeastern banks’ CRE portfolio net charge-offs have also historically outperformed major exchang
Slide 26: 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) 26 Non-GAAP Reconciliation For the Three Months Ended March 31, December 31, September 30, June 30, March 31, 2026 2025 2025 2025 2025 Core Earnings: Net income available to common stockholders (GAAP) $
Slide 27: 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) 27 Non-GAAP Reconciliation For the Three Months Ended March 31, December 31, September 30, June 30, March 31, 2026 2025 2025 2025 2025 Tangible Equity: Total stockholders' equity $ 1,669,368 $ 1,662,550