Slide 1: OceanFirst Financial Corp. 2Q 2025 Earnings Release Supplement
Exhibit 99.2 ... OceanFirst Financial Corp. 2Q 2025 Earnings Release Supplement(1) July 2025 (1) The 2Q 2025 Earnings Release Supplement should be read in conjunction with the Earnings Release furnished as Exhibit 99.1 to Form 8-K filed with the SEC on July 24, 2025.
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 Private Securities Litigation Reform Act of 1995, which are based on certain assumptions and describe future plans, strategi
Slide 3: Q2-25 Financial Highlights
Q2-25. .Financial . Highlights Financial Highlights $0.31 $88 million 0.53% Core Diluted EPS(1) Net Interest Income Core ROAA(1) 6.17% $0.46 11.0% Core ROTCE(1) Core PTPP Diluted EPS(1) CET1 Ratio(2) Total loans increased at a 2% annualized growth rate, including $132 million of commercial and ind
Slide 4: Quarterly Earnings Update
... Quarterly Earnings Update 4
Slide 5: Premier Bank Launch
Premier . . . Bank Launch 9 Teams hired and onboarded, totaling 36 FTEs. Performance $115 million of deposits thru 6/30/25 at a weighted average cost of 2.71%. To Date Added +670 new accounts across ~200 relationships. Target $500 million in deposits in 2025. Multi-Year Teams to achieve th
Slide 6: Loan Portfolio Trends
Loan Portfolio ... Trends Moderated Loan Growth in the Portfolio ($’millions) 5.46% 5.46% 5.41% Total loan pipeline at Q2-25 is $955 5.38% 5.37% million, driven by a record commercial loan pipeline of $791 million. 10,019 10,022 10,118 10,125 10,185 242 243 230 226 221 2,978 3,003 3,050 3,053 3,11
Slide 7: Credit Trends (1 of 2)
Quarterly . . . Credit Trends (1 of 2) Strong asset quality trends driven by prudent growth and strong credit risk management Non-Performing Loans and Assets ($’000)(1) Special Mention and Substandard Loans ($’000) 0.31% Criticized loans as a % of total loans remain low at 1.43% as of Q2-25 0.29% co
Slide 8: Credit Trends (2 of 2)
Quarterly . . . Credit Trends (2 of 2) Loan Allowance for Credit Losses (ACL) Plus PCD & General NCOs / (Recoveries) and Provision for Credit Loss Credit Marks / Total Loans Expense ($’thousands) Includes $3.3 million of increased provision related to elevated uncertainty in the 0.83% 0.83% 5,340 ma
Slide 9: 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 Q1-25 Q2-25 (1) OCFC NCO / Avg Loans Commercial Banks ($10-50 bn) NCO / Avg Loans From 2006 to Q2-
Slide 10: Deposit Trends
Deposit . . . Trends Deposit Mix Remains Stable ($’millions) Total deposits increased $55 million from the prior quarter. 10,116 10,066 10,177 10,232 9,994 Time deposits increased by $180 million to $2.3 billion driven 1,638 1,617 1,661 1,687 1,633 by an increase in brokered time deposits of $15
Slide 11: Net Interest Income and Net Interest Margin Trends
Net Interest ... Income and Net Interest Margin Trends Net Interest Income ($’000) NIM Bridge 87,636 2.91% 86,652 0.01% 2.90% 83,329 82,263 82,219 Q1-25 NIM Impact of purchase accounting Q2-25 NIM Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 and prepayment fees Net Interest Income Net Interest Margin 2.90% 2.91% T
Slide 12: Expense Discipline and Focused Investment
Expense . . . Discipline and Focused Investment Core Non-Interest Expense (1) ($’000) Core Efficiency Ratio (1) 71,474 72.28% 67.74% 64,739 64,294 66.00% 65.81% 62,067 63.47% 2.16% 58,620 1.96% 40,242 1.90% 1.84% 36,602 36,740 35,844 1.75% 33,136 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Core Efficiency Ratio C
Slide 13: Generating Consistent Returns
Generating ... Consistent Returns Book Value and Tangible Book Value per Common Share ($)(1) Core ROAA(1), ROTE(1), and ROTCE(1) 28.67 29.02 29.08 29.27 28.64 8.26% 8.24% 7.89% 7.34% 6.17% 7.86% 7.85% 7.51% 7.00% 18.93 19.28 18.98 19.16 19.34 0.68% 0.69% 0.65% 0.62% 0.53% Q2-24 Q3-24 Q4-24 Q1-25 Q2-
Slide 14: Management Q3-25 Outlook
Management ... Q3-25 Outlook Key Assumptions / Commentary 2-3% growth • Expecting accelerating growth, subject to unanticipated payoffs and Loans sequentially (8-12% supported by our strong pipeline. annualized) Growth consistent with Deposits loan growth • Maintain loan-to-deposit ratio ~100%. Cont
Slide 15: Appendix
Appendix re) OcEANFirRST
Slide 16: Diversified CRE Portfolio with Conservative Risk Profile
Diversified ... CRE Portfolio with Conservative Risk Profile CRE Investor-Ow ned - Collateral Details Underlying collateral is diversified. #039;m illions CRE: Investor-Ow ned % of Total WA LTV WA DSCR Office 1,023 23.0% 54.5 1.78 Low concentration in the Multi-Family portfolio, which represents 6%
Slide 17: Conservative Risk Profile of CRE IO Office & Construction
Conservative ... Risk Profile of CRE IO Office & Construction CRE Investor-Ow ned: Office + Construction Portfolio Highlights % of #039;m illions Balance % of Office Total Loans WA LTV WA DSCR 96% of Office & Construction loans are pass-rated General Office 491 48.0% 4.8% 48.3 1.92 (not classified or
Slide 18: Northeast Outperforms Through Credit Cycles
Northeast . . . Outperforms Through Credit Cycles… Hurricane GFC Peak NCOs COVID-19 Global Financial Q1-25 Sandy 1.43% Pandemic Crisis Northeast 0.08% 0.80% 0.51% 0.63% Mid Atlantic 0.07% 0.29% 0.32% Southeast 0.10% Northeast Midwest Mid Southeast Southwest West Midwest 0.03% Atlantic 1.3x 1.9x 2.6x
Slide 19: 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 0.11% 0.10% 0.09% 0.04% 0.03% Northeast Southwest Southeast Mid Midwest West Atlantic 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Slide 20: 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, #039;000 2025 2025 2024 2024 2024 Core Earnings: Net income available to common stockholders (GAAP) $ 16,200 $ 20,505 $ 20,905 $ 24,112 $ 23,369 Adjustments to
Slide 21: Non-GAAP Reconciliations (2 of 2)
Non-GAAP ... Reconciliations (2 of 2) Non-GAAP Reconciliation June 30, March 31, December 31, September 30, June 30, #039;000 2025 2025 2024 2024 2024 Tangible Equity Total stockholders' equity $ 1,643,680 $ 1,709,117 $ 1,702,757 $ 1,694,508 $ 1,676,669 Less: Goodwill 523,308 523,308 523,308 506,146 50