Oceanfirst Financial Corp. · NASDAQ:OCFC
Oceanfirst Financial — IPO Roadshow (October 2025)
38 slides from Oceanfirst Financial's IPO roadshow presentation, Oct 27, 2025
Slide 1: OceanFirst Financial Corp. Fixed Income Investor Presentation October 2025
OceanFirst Financial Corp. Fixed Income Investor Presentation October 2025
Slide 2: Legal Disclaimer
Legal .Disclaimer . . REGISTRATION STATEMENT; NO OFFER OR SOLICITATION; NO ADVICE. This presentation is neither an offer to sell nor a solicitation of an offer to purchase any securities of Ocean First Financial Corp. (the “Company”). There will be no sale of securities in any jurisdiction in which
Slide 3: Legal Disclaimer (Continued)
Legal .Disclaimer . . (Continued) NON-GAAP FINANCIAL INFORMATION. This presentation contains certain non-GAAP (generally accepted accounting principles) measures. These non-GAAP measures, as calculated by the Company, are not necessarily comparable to similarly titled measures reported by other comp
Slide 4: Overview of the Proposed Subordinated Notes Offering
Overview . . . of the Proposed Subordinated Notes Offering Issuer: OceanFirst Financial Corp. Security Offered: Fixed-to-Floating Rate Subordinated Notes Due 2035 (1) Baa3 / Stable by Moody’s Rating : BBB / Stable by Kroll Bond Rating Agency Aggregate Principal Amount: $125 Million Format: SEC Regis
Slide 5: Overview of OceanFirst
Overview of OceanFirst Corporate Overview and Market Data Tailored Footprint Across Ticker OCFC (NASDAQ) HQ Red Bank, NJ Branch Network 40 branches; 9 commercial banking centers Core Markets New Jersey, New York City, Greater Philadelphia Expansion Markets Boston, Northern Virginia, and Baltimore Ba
Slide 6: Key Investor Highlights
Key Investor . . . Highlights Demonstrated commitment to local Positioned in high-growth markets with communities with an “Outstanding” CRA opportunities for retail expansion rating Best-in-class management team with Growth plan focused on obtaining stable deep banking, regulatory, M&A and low-cost
Slide 7: History of Growth and Strategic Execution
History . . . of Growth and Strategic Execution IPO to Mutual Beginning of Digital Core Conversion to Solidified deposit base and Reinvestment into Depositors Transformation st Fiserv Premier balance sheet. growth with the launch 1 FinTech Executed on internal optimization of the Premier Banking Equ
Slide 8: Premier Bank Launch
Premier . . . Bank Launch 9 Teams hired and onboarded, totaling 36 FTEs. Performance $242 million of deposits through 9/30/25 at a weighted average cost of 2.64%. To Date Added +1,100 new accounts across ~300 relationships. Target $500 million in deposits in 2025. Multi-Year Teams to achieve their f
Slide 9: Proven Historical Net Interest Income and Loan Growth
Proven . . .Historical Net Interest Income and Loan Growth Net Interest Income Growth ($’thousands) 3.71% 3.62% 3.46% 3.52% 3.37% 3.16% 2.93% 3.02% 2.91% 13% 2.72% 354,230 Net Interest Income CAGR 377,477 369,731 334,035 312,951 305,338 169,218 240,502 255,971 264,945 120,262 2016 2017 2018 2019 202
Slide 10: Successful Commercial Loan Growth and Geographic Diversification
Successful . . . Commercial Loan Growth and Geographic Diversification Commercial Loans by Geography(1) as of Q3-25 Emphasis on Commercial (Commercial % of Loan Portfolio) Increase of $5.4B Other in commercial Baltimore Markets (2) loans since 2016 Boston +21% 3% 5% 2% New Jersey Philadelphia 38% 22
Slide 11: Balanced Approach to Deposit Pricing and Growth
Balanced . . . Approach to Deposit Pricing and Growth Deposit Composition ($’millions) 10,435 10,066 10,436 9,428 9,733 9,675 1,657 1,617 1,732 2,133 2,412 2,101 Deposit Stratification 6,329 3,912 4,091 5,815 1,377 3,830 4,001 1,151 3,647 4,202 4,188 4,343 757 1,022 783 2,539 1,301 1,398 2,350 784 7
Slide 12: Conservative Credit Risk Profile
Conservative . . . Credit Risk Profile Non-performing Loans by Type as % of Loans(1) Continued Focus on Credit Risk(1) 0.69 0.52% 0.64 0.47% 0.60 0.59 0.55 0.56 0.54 0.21% 0.14% 0.34% 0.44 0.31% 0.40 0.29% 0.38 0.26% 0.27% 0.09% 0.05% 0.32 0.17% 0.18% 0.15% 0.22% 0.01% 0.10% 0.08% 0.02% 0.19% 0.03%
Slide 13: Business Model Strength Driving Significant Capital Return
Business . . . Model Strength Driving Significant Capital Return The growth in TBV per common share(1) $31.01 Growth Since 2013 $29.48 (TBVPS) is attributed to: (1) $3.74 Tangible Book Value per Share 58.3% $27.68 $3.35 Minimally dilutive and strategic Total Capital Return per Share 151.5% $25.61 $2
Slide 14: Historical Consolidated Capital Ratios
Historical . . . Consolidated Capital Ratios Tangible Common Equity / Tangible Assets(1) Leverage Ratio(2) Well-Capitalized Regulatory Level 8.6% 9.4% 9.2% 9.4% 9.3% 9.5% 9.1% 8.3% 8.4% 8.0% 8.4% 8.1% 4.0% 2020 2021 2022 2023 2024 Q3-25 2020 2021 2022 2023 2024 Q3-25 Common Equity Tier 1 Ratio(2) To
Slide 15: Quarterly Update
Quarterly Earnings Update
Slide 16: Q3-25 Financial Highlights
Q3-25 . .Financial . Highlights Financial Highlights $0.36 $91 million 0.60% Core Diluted EPS(1) Net Interest Income Core ROAA(1) 7.19% $0.54 10.6% Core ROTCE(1) Core PTPP Diluted EPS(1) CET1 Ratio(2) Total loans increased $373 million (or 14% annualized), including $219 million of commercial and in
Slide 17: Loan Portfolio Trends
Loan Portfolio . . . Trends Moderated Loan Growth in the Portfolio ($’millions) 5.46% 5.41% 5.49% 5.38% 5.37% 10,558 10,022 10,118 10,125 10,185 216 243 230 226 221 3,135 3,003 3,050 3,053 3,119 648 999 661 749 863 842 902 897 914 997 5,273 5,288 5,200 5,068 5,211 Total loans increased $373 million
Slide 18: Track Record of Strong Credit Performance
Track .Record . . of Strong Credit Performance Global Financial Hurricane COVID-19 Crisis Sandy Pandemic 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q2-25 Q3-25 OCFC NCO / Avg Loans(1) Commercial Banks ($10-50 bn) NCO / Avg Loans From 2006 to Q3-25,
Slide 19: Quarterly Credit Trends (1 of 2)
Quarterly . . . Credit Trends (1 of 2) Strong asset quality trends driven by prudent growth and strong credit risk management Non-Performing Loans and Assets ($’000)(1) 0.34% 0.30% 0.29% 0.27% 0.25% 0.26% 0.23% 0.22% 0.19% 0.20% 7,498 1,917 7,680 1,811 35,586 27,596 29,246 26,711 25,252 Q3-24 Q4-24
Slide 20: Quarterly Credit Trends (2 of 2)
Quarterly . . . Credit Trends (2 of 2) Loan Allowance for Credit Losses (ACL) Plus PCD & General Credit Marks / Total Loans 0.83% 0.83% 0.81% 0.79% 0.05% 0.05% 0.75% 0.04% 0.06% 0.06% 0.78% 0.78% 0.77% 0.73% 0.69% Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 PCD & General Credit Marks ACL Note: The allowance for c
Slide 21: Diversified CRE Portfolio with Conservative Risk Profile
Diversified . . . CRE Portfolio with Conservative Risk Profile CRE Investor-Owned—Collateral Details $‘millions CRE: Investor-Owned % of Total WA LTV (%) WA DSCR (x) Office 1,035 22.5% 55.0% 1.80x Retail 1,044 22.7% 52.4% 1.91x Multi-Family 879 19.1% 61.3% 1.64x Industrial / Warehouse 755 16.4% 46.0
Slide 22: Conservative Risk Profile of CRE IO Office & Construction
Conservative Risk Profile of CRE IO Office & Construction CRE Investor-Owned: Office + Construction % of $‘millions Balance % of Office Total Loans WA LTV (%) WA DSCR (x) General Office 507 49.0% 4.8% 49.9% 1.87x Life Sciences & Medical 271 26.2% 2.6% 55.7% 1.83x Credit Tenant 257 24.8% 2.4% 64.5% 1
Slide 23: High Quality and Low Risk Investment Portfolio
High Quality . . . and Low Risk Investment Portfolio Investment Portfolio Composition(1)(2) Portfolio Trends and Yield (2) Other US Government & Agency 2,064 2,117 2,003 1,991 2% 1,917 11% Corporate Debt 3% Rate Exposure: 4.23% 4.09% 3.99% Asset-Backed 6% • 50% floating 3.82% 3.83% • 50% fixed Total
Slide 24: Deposit Trends
Deposit . . . Trends Deposit Mix Remains Stable ($’millions) 10,116 10,066 10,177 10,232 10,436 1,638 1,617 1,661 1,687 1,732 3,896 4,001 4,007 3,845 4,091 1,289 1,301 1,337 1,378 1,398 1,072 1,066 1,052 1,023 1,000 2,221 2,081 2,120 2,299 2,215 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Non-Int. Bearing Money M
Slide 25: Uninsured Deposit Trending
Uninsured . . . Deposit Trending % of Total Deposits (Adjusted Uninsured vs Insured) 16% 16% 17% 17% 18% 84% 84% 83% 83% 82% Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Adjusted Uninsured Deposits Adjusted Insured Deposits Adjusted Uninsured Deposit Bridge $‘millions Schedule/Line Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Es
Slide 26: Liquidity Sources are Robust and Diverse
Liquidity . . . Sources are Robust and Diverse 1.89x 3,647 1,444 145 1,932 689 1,368 Liquidity Sources Adjusted Uninsured Deposits FRB Discount Window Capacity Cash and Unpledged Securities FedFunds and Repo Lines Available Adjusted Uninsured Deposits FHLB Remaining Capacity Liquidity remains robust
Slide 27: Net Interest Income and Net Interest Margin Trends
Net Interest . . . Income and Net Interest Margin Trends Net Interest Income ($’000) 90,657 87,636 86,652 83,329 82,219 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Net Interest Income Net Interest Margin 2.90% 2.91% 2.91% 2.69% 2.67% NIM Bridge 2.91% 2.91% -0.02% 0.04% -0.02% Q2-25 NIM Impact of Impact of Increas
Slide 28: Expense Discipline and Focused Investment
Expense . . . Discipline and Focused Investment Core Non-Interest Expense(1) ($’000) 71,474 72,390 64,739 64,294 62,067 40,242 41,387 36,602 36,740 35,844 6,323 7,029 6,306 6,418 6,183 2,898 2,826 2,517 2,983 2,618 6,366 6,808 7,164 5,940 6,647 4,336 3,467 1,970 2,620 2,425 9,512 10,328 9,081 10,867
Slide 29: Generating Consistent Returns
Generating . . . Consistent Returns Book Value and Tangible Book Value per Common Share(1) ($) 29.02 29.08 29.27 28.64 28.81 19.28 19.34 19.52 18.98 19.16 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Book Value per Share Tangible Book Value per Common Share Capital Management ($’millions) 11.3% 11.2% 11.2% 11.0% 1
Slide 30: Appendix
Appendix
Slide 31: Double Leverage & Interest Coverage
Double . . .Leverage & Interest Coverage ($ in thousands) Pro Forma Double Leverage Ratio As of the Year Ended: Period Ended Offering Period Ended 12/31/2021 12/31/2022 12/31/2023 12/31/2024 9/30/2025 Adjustments 9/30/2025 Investment in Subsidiaries $1,575,549 $1,630,199 $1,672,406 $1,704,037 $1,718
Slide 32: Illustrative Pro Forma Capital Ratios
Illustrative . . . Pro Forma Capital Ratios Proceeds from Redemption of $125 Million 2020 9/30/2025 Subordinated Subordinated Pro Forma ($ in thousands) Actual Notes Offering Notes 9/30/2025 Regulatory Capital Common Equity Tier 1 Capital $1,109,225 $1,109,225 Preferred Equity — 0 Trust Preferred 74
Slide 33: Deep and Experienced Management with Large Bank Experience
Deep and . . . Experienced Management with Large Bank Experience Chris Maher Steven Tsimbinos Michele Estep Chairman & Chief Executive Officer Senior Executive Vice President, Senior Executive Vice President & General Counsel & Corporate Secretary Chief Administrative Officer Joined in 2013 Joined i
Slide 34: Highly Qualified Board
Highly Qualified . . . Board Chris Maher Tony Coscia John Barros Jack Farris Bob Garrett Chairman & CEO of Partner at Windels Marx; Managing Principal of Vice President and Deputy CEO at Hackensack OCFC Chairman of the Board of Civitas Builder General Counsel, InfoSec Meridian Health Directors of Am
Slide 35: Northeast Outperforms Through Credit Cycles
Northeast . . . Outperforms Through Credit Cycles… Hurricane GFC Peak NCOs COVID-19 Global Financial Crisis Sandy 1.43% Pandemic 0.80% 0.63% 0.51% 0.29% 0.32% Northeast Midwest Mid Southeast Southwest West Atlantic 1.1x 1.8x 2.2x 2.8x 4.9x Historically, net charge-offs for Northeastern headquartered
Slide 36: With a Similar Story in Commercial Real Estate Portfolios
With .a . . Similar Story in Commercial Real Estate Portfolios Global Financial Hurricane GFC Peak CRE NCOs COVID-19 Crisis Sandy 0.16% Pandemic 0.10% 0.11% 0.09% 0.03% 0.04% Northeast Southwest Southeast Mid Midwest West Atlantic Northeastern banks’ CRE portfolio net charge-offs have also historica
Slide 37: Non-GAAP Reconciliation
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 (GAAP) $ 17,330 $ 16,200 $ 20,505 $ 20,905 $ 24,112 Adjustments to exclude the impact of non-recurring an
Slide 38: Non-GAAP Reconciliations (2 of 2)
Non-GAAP . . . Reconciliations (2 of 2) 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 $ 1,643,680 $ 1,709,117 $ 1,702,757 $ 1,694,508 Less: Goodwill 523,3