Oceanfirst Financial Corp. · NASDAQ:OCFC

Oceanfirst Financial — Q2 2026 Earnings Presentation

27 slides from Oceanfirst Financial's earnings presentation, Jul 30, 2026

  1. Slide 1: Q2 2026 Earnings Release Supplement

    ... OceanFirst Bank OceanFirst Financial Corp. Q2 2026 Earnings Release Supplement(1) (1) The Q2 2026 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 July 30, 2026. OCEANFIRST BANK | J u l y 30, 2026

  2. Slide 2: Legal Disclaimer

    Legal Disclaimer ... 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 assumptions and describe future plans, strategies and expectations of Oc

  3. Slide 3: Quarterly Earnings Update

    ... OceanFirst Bank Quarterly Earnings Update 3 3

  4. Slide 4: Q2-26 Financial Highlights

    Q2-26. .Financial . Highlights Financial Highlights $0.43 $121 million 0.71% Core Diluted EPS(1) Net Interest Income Core ROAA(1) 8.92% $0.63 10.7% Core ROTCE(1) Core PTPP Diluted EPS(1) CET1 Ratio • On June 1, 2026, we closed the acquisition of Flushing and closed our $225 million strategic equity

  5. Slide 5: Update on the Acquisition of Flushing Financial

    ... Update on the Acquisition of Flushing Financial KEY MILESTONES  $538 million total consideration paid to December 29, 2025 April 24, 2026 June 26, 2026 Flushing shareholders at Merger Regulatory $1.3bn Multifamily close Announcement Approvals Received Loan Sale  Closed $225 million strategic e

  6. Slide 6: Merger Metrics Remain On Track – Balance Sheet Derisked

    Merger . . . Metrics Remain On Track – Balance Derisked Expectations Key Financial Updates Post-Close Actual Post-Close at Announcement ✓ On June 26, 2026, closed the sale of $1.3 billion Closing date 2Q 2026 June 1, 2026 of multifamily loans acquired from Flushing Balance Sheet Composition – Sale p

  7. Slide 7: Loan Portfolio Trends

    Loan Portfolio ... Trends Moderated Loan Growth ($’millions)  Total loans grew by $5.1 billion (46%) and $6.1 5.49% 5.55% billion (60%) compared to Q1-26 and Q2-25, 5.41% 5.43% 5.34% respectively, largely driven by Flushing(1) 16,276 197  Excluding Flushing, total commercial loan growth was 2% com

  8. Slide 8: Deposit Trends

    Deposit . . . Trends Deposit Mix Remains Stable ($’millions) 17,761  Deposits increased by $6.6 billion, primarily due to 2,837 acquired deposits from Flushing  Deposit trends excluding Flushing balances: 10,964 11,156 6,277  Total deposits decreased primarily due to seasonality 10,232 10,436 of

  9. Slide 9: Net Interest Income and Net Interest Margin Trends

    Net Interest ... Income and Net Interest Margin Trends Net Interest Income ($’000) NIM Bridge 3.05% 120,730 0.05% 0.02 2.93% 0.05% 95,278 96,447 90,657 87,636 Q1-26 NIM Impact of Prepayment Mix-shift, Q2-26 NIM Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 acquisition impact originations Net Interest Income and rep

  10. Slide 10: Expense Discipline and Focused Investment

    Expense . . . Discipline and Focused Investment Core Non-Interest Expense(1) ($’000) Core Efficiency Ratio(1) 87,165 72.28% 70.30% 68.19% 66.76% 66.20% 2.16% 71,474 72,390 2.12% 71,227 69,125 2.02% 1.97% 1.93% 50,202 40,242 41,387 40,984 39,484 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Core Efficiency Ratio Cor

  11. Slide 11: Generating Consistent Returns

    Generating ... Consistent Returns Book Value and Tangible Book Value per Common Share(1) ($) Core ROAA(1) and ROTCE(1) 28.64 28.81 28.97 28.98 8.56% 8.92% 8.21% 7.19% 6.17% 24.50 19.79 19.86 0.65% 0.68% 0.71% 19.34 19.52 0.53% 0.60% 18.19 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 B

  12. Slide 12: Management Q3-26 and Q4-26 Outlook

    Management ... Q3-26 and Q4-26 Outlook Q3-26 Q4-26 Comments • Expecting continued steady growth. • Growth will be driven by the C&I vertical offset by run-off from the Loans 1-2% by year-end Residential portfolio. • Credit is expected to remain benign and reserves sufficient. Deposits Consistent wit

  13. Slide 13: 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(1) and Assets(2) ($’000) Special Mention and Substandard Loans ($’000) Criticized loans as a % of total loans increased to 3.12% vs. Q1-26 impacted by the

  14. Slide 14: Quarterly Credit Trends (2 of 2)

    Quarterly ... Credit Trends (2 of 2) Loan Allowance for Credit Losses (ACL) ($’000) NCOs / (Recoveries) and Provision for Credit Loss Expense ($’000) 0.09% 1.29% 0.07% 1.21% 0.05% 1.18% 1.19% 1.17% 0.03% 0.02% 4,092 4,002 3,700 0.78% 0.77% 0.76% 0.77% 3,039 2,738 209,716 2,218 1,974 1,514 79,266 81,

  15. Slide 15: Track Record of Strong Credit Performance

    Track. Record .. of Strong Credit Performance Global Financial Crisis Hurricane COVID-19 Sandy Pandemic 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q1-26 Q2-26 OCFC NCO / Avg Loans(1) Commercial Banks ($10-50 bn) NCO / Avg Loans (2)  From 2006

  16. Slide 16: Company Overview

    ... OceanFirst Bank Company Overview 16 16

  17. Slide 17: Overview of OceanFirst

    Overview ... of OceanFirst Corporate CorporateOverview Overviewand Market & Market Data Data Tailored Footprint Across Key Markets(5) Ticker OCFC (NASDAQ) HQ Red Bank, NJ MA NY Branch Network 71 branches; 8 commercial banking centers Moody’s and KBRA Ratings(1) Baa3 and BBB+ Market Cap at 6/30/26 $1

  18. Slide 18: Proven Historical Net Interest Income and Loan Growth

    Proven . . .Historical Net Interest Income and Loan Growth Net Interest Income Growth ($’thousands) 3.46% 3.52% 3.71% 3.62% 3.37% 3.16% 3.02% 2.99% 17% 2.93% 2.72% 2.90% Net Interest Income CAGR 377,477 369,731 334,035 360,223 312,951 305,338 240,502 255,971 217,177 120,262 169,218 2016 2017 2018 20

  19. Slide 19: Balanced Approach to Deposit Pricing and Growth

    Balanced ... Approach to Deposit Pricing and Growth Deposit Composition ($’millions) 17,760 2016 – Q2-26 CAGR: 16% 2,837 Deposit Stratification 10,435 10,964 6,277 9,733 9,675 10,066 9,428 1,742 1,657 1,617 2,133 2,412 2,101 5,815 6,329 3,912 4,001 4,354 3,376 44% Total: 1,377 3,647 3,830 4,188 4,34

  20. Slide 20: 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% 0.54% 0.55% 0.21% 0.14% 0.50% 0.47% 0.44% 0.33% 0.31% 0.40% 0.38% 0.29% 0.26% 0.27% 0.09% 0.05% 0.26% 0.38% 0.32% 0.15% 0.17% 0.22% 0.01% 0.10% 0.2

  21. Slide 21: Business Model Strength Driving Significant Capital Return

    Business ... Model Strength Driving Significant Capital Return $31.48 $30.35 The growth in TBV per common Growth Since 2013 $29.48 $3.74 share(1) over the past decade is attributed to: (1) Tangible Book Value per Share 47.6% $3.80 $27.68 $3.35 Total Capital Return per Share 146.1% $25.61 $2.98  Min

  22. Slide 22: OceanFirst's AI and Automation

    OceanFirst’s ... AI and Automation Long-term Strategic Vision Foundation & Quick Wins INFRASTRUCTURE  Drive operating leverage and scale through automation Enterprise data Data governance foundation 2023- management upgraded established  Enhance the customer experience through best in-class speed

  23. Slide 23: Appendix

    ... OceanFirst Bank Appendix OCEANFIRST BANK | J u l y 3 0 , 2026 23 23 23

  24. Slide 24: Diversified CRE Portfolio with Conservative Risk Profile

    Diversified ... CRE Portfolio with Conservative Risk Profile CRE Investor-Ow ned - Collateral Details  Underlying collateral is diversified. $'m illions CRE: Investor-Ow ned % of Total WA LTV (%) WA DSCR (x) Office 1,296 15.3% 54.5% 1.73x  Low concentration in the Multi-Family portfolio, which rep

  25. Slide 25: Northeast Outperforms Through Credit Cycles

    Northeast ... Outperforms Through Credit Cycles… Hurricane GFC Peak NCOs COVID-19 Global Financial 1.43% Sandy Pandemic Crisis 0.80% 0.63% 0.51% 0.29% 0.32% Northeast Mid Southeast Midwest Southwest West Atlantic 1.8x 2.2x 1.1x 2.8x 4.9x  Historically, net charge-offs for Northeastern headquartered

  26. Slide 26: Non-GAAP Reconciliations (1 of 2)

    Non-GAAP ... Reconciliations (1 of 2) Non-GAAP Reconciliation For the Three Months Ended June 30, March 31, December 31, September 30, June 30, 2026 2026 2025 2025 2025 Core Earnings: Net income available to common stockholders (GAAP) $ (3,029) $ 20,506 $ 13,093 $ 17,330 $ 16,200 Adjustments to excl

  27. Slide 27: Non-GAAP Reconciliations (2 of 2)

    Non-GAAP ... Reconciliations (2 of 2) Non-GAAP Reconciliation For the Three Months Ended June 30, March 31, December 31, September 30, June 30, 2026 2026 2025 2025 2025 Tangible Equity: Total stockholders' equity $ 2,411,080 $ 1,669,368 $ 1,662,550 $ 1,653,427 $ 1,643,680 Less: Goodwill 529,836 517,

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