Oceanfirst Financial Corp. · NASDAQ:OCFC
Oceanfirst Financial — Q2 2020 Earnings Presentation
15 slides from Oceanfirst Financial's earnings presentation, Jul 24, 2020
Slide 1: Supplement to Q2 2020 Earnings Press Release
. . . Exhibit 99.2 OceanFirst Financial Corp. Supplement to Q2 2020 Earnings Press Release July 23, 2020 . . .
Slide 2: Forward Looking Statements
SUPPLEMENT TO Q2 2020 EARNINGS .PRESS . . RELEASE 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 based on certain assumptions and desc
Slide 3: Commercial Forbearance Portfolio
INVESTOR PRESENTATION . . . Commercial Forbearance Portfolio Over 90% of Commercial Forbearances Have Been Evaluated as of July 15, 2020 1st Forbearance Peak $1,240 M 64% of Commercial Clients Have Committed to Monthly Payments Beginning in Q3 Projected 2nd Forbearance Peak $500M 3/18/20 4/18/20 5/1
Slide 4: Consumer Forbearance Portfolio
INVESTOR PRESENTATION . . . Consumer Forbearance Portfolio 1st Forbearance Peak $329 M Projected 2nd Forbearance Peak $237M 33% of Residential Mortgage Clients Have Committed to Monthly Payments Beginning in Q3 3/3/20 4/3/20 5/3/20 6/3/20 7/3/20 8/3/20 9/3/20 10/3/20 11/3/20 12/3/20 Note: Data based
Slide 5: Commercial Loan Forbearance: Forbearance Requests
SUPPLEMENT TO Q2 2020 EARNINGS .PRESS . . RELEASE Commercial Loan Forbearance Commercial Portfolio Forbearance Requests Total Outstanding Balance: $5.6bn Total Forbearance Requests: $1.2bn *WA LTV: 53.6% Forbearance requests are *WA DSCR: 2.09 well-secured and represent No delinquency (in life of lo
Slide 6: Commercial Forbearance Requests Reviewed
SUPPLEMENT TO Q2 2020 EARNINGS .PRESS . . RELEASE Commercial Loan Forbearance Commercial Forbearance Requests Reviewed $1.1 billion in Restaurant & Hospitality maturing Forbearance Total Outstanding Balance: $1.24B $85 million projected to resume full payment or improve to I/O Out of $1.1 billion re
Slide 7: Commercial Loan Forbearance: Requests Are Moderating
SUPPLEMENT TO Q2 2020 EARNINGS .PRESS . . RELEASE Commercial Loan Forbearance Forbearance requests are moderating 90Day Initial Forbearance Initial 180 Day . . . Forbearance Continuing JULY | 2020 7 Forbearance Data as of July 15, 2020 Data Classification: General Business
Slide 8: Residential and Consumer Loan Forbearance
SUPPLEMENT TO Q2 2020 EARNINGS .PRESS . . RELEASE Residential and Consumer Loan Forbearance Consumer Forbearances Peaked at $329M on June 13, 2020 Residential & Consumer Portfolio 90 Day Forbearance Portfolio 180 Day Forbearance Portfolio Total Outstanding Balance: $2.8bn Total Outstanding Balance:
Slide 9: Residential and Consumer Forbearance Periods
SUPPLEMENT TO Q2 2020 EARNINGS .PRESS . . RELEASE Residential and Consumer Loan Forbearance Each Forbearance period is 90 days, or a total of up to 180 days. 90Day Initial Forbearance Initial 180 Day . . . Forbearance Continuing JULY | 2020 9 Forbearance Data as of July 15, 2020 Data Classification:
Slide 10: PPP Application Status
SUPPLEMENT TO Q2 2020 EARNINGS .PRESS . . RELEASE PPP Application Status Loans approved to date have an estimated fee income of approximately $17.6 million that will be earned over the life of the loan. . . . JULY | 2020 10 Data Classification: General Business
Slide 11: Loan Growth
SUPPLEMENT TO Q2 2020 EARNINGS .PRESS . . RELEASE Loan Growth 471 504 110 416 8,400 7,951 ($'millions) March 31, 2020 PPP Originations Loan Originations Loan Sales Payoffs/Paydowns June 30, 2020 Note: Loan balances include loans held for sale. . . . JULY | 2020 11 Data Classification: General Busine
Slide 12: Deposit Growth
SUPPLEMENT TO Q2 2020 EARNINGS .PRESS . . RELEASE Deposit Growth Initially utilized to build liquidity and fund PPP loans; terms of 6, 9, and 12 months at 1.15%. 291 281 8,968 504 7,892 ($'millions) March 31, 2020 PPP Brokered CDs Other Net Growth (1) June 30, 2020 (1) Other Net Growth – Growth driv
Slide 13: 2Q-20 NIM Contraction
SUPPLEMENT TO Q2 2020 EARNINGS .PRESS . . RELEASE 2Q-20 NIM Contraction 3.52% 0.13% 0.06% 0.02% 0.07% 3.24% (%) Q1-20 NIM Excess 0.00%balance sheet Subordinated 0.00% debt PPP 0.00% loans Lower rate 0.00% environment Q2-20 NIM liquidity issuance Headwinds Tailwinds • Impact of surplus liquidity rela
Slide 14: Tangible Stockholders' Equity to Tangible Assets
SUPPLEMENT TO Q2 2020 EARNINGS .PRESS . . RELEASE Tangible Stockholders’ Equity to Tangible Assets 0.48% 0.37% 8.85% 0.19% 8.77% (%) Tangible Stockholders' Preferred Stock Issuance - Remove PPP impact (1) Other balance sheet growth Tangible Stockholders' Equity to Tangible Assets, $55.7 million Equi
Slide 15: Investor Relations Inquiries
SUPPLEMENT TO Q2 2020 EARNINGS .PRESS . . RELEASE Investor Relations Inquiries Jill A. Hewitt Senior Vice President, Director of Investor Relations & Corporate Communications jhewitt@oceanfirst.com (732) 240-4500, ext. 7513 . . . JULY | 2020 15