Oceanfirst Financial Corp. · NASDAQ:OCFC
Oceanfirst Financial — Q1 2026 Earnings Presentation
19 slides from Oceanfirst Financial's earnings presentation, Apr 24, 2026
Slide 1: OceanFirst Financial Corp. Q1 2026 Earnings Release Supplement
... OceanFirst Bank OceanFirst Financial Corp. Q1 2026 Earnings Release Supplement (1) April 2026 (1) The Q1 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 April 23, 2026. OCEANFIRST BANK | A p
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
Slide 3: Q1-26 Financial Highlights
Q1-26. .Financial . Highlights Financial Highlights $0.43 $96 million 0.68% Core Diluted EPS(1) Net Interest Income Core ROAA(1) 8.56% $0.60 10.7% Core ROTCE(1) Core PTPP Diluted EPS(1) CET1 Ratio(2) ▪ Net interest income increased $1 million (or 1%) from the linked quarter and $10 million (or 11%)
Slide 4: Loan Portfolio Trends
Loan Portfolio ... Trends Moderated Loan Growth ($’millions) 5.49% ▪ Total loans increased $92 million (3% 5.37% 5.41% 5.43% 5.34% annualized), including $105 million (19% annualized) of commercial and industrial 11,032 11,124 loan growth. 10,558 203 198 10,125 10,185 216 ▪ The company maintained st
Slide 5: Quarterly Credit Trends (1 of 2)
Quarterly ... Credit Trends (1 of 2) Strong asset quality trends driven by prudent growth and strong credit risk management Non-Performing Loans and Assets ($’000)(1) Special Mention and Substandard Loans ($’000) 0.34% Criticized loans as a % of total loans remain low at 1.53% as of Q1-26 compared t
Slide 6: Quarterly Credit Trends (2 of 2)
Quarterly ... Credit Trends (2 of 2) Loan Allowance for Credit Losses (ACL) Plus PCD & NCOs / (Recoveries) and Provision for Credit Loss Expense General Credit Marks / Total Loans ($’thousands) Includes $3.3 million of increased provision related to elevated 0.83% 0.83% uncertainty in the macroecono
Slide 7: 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 OCFC NCO / Avg Loans (1) Commercial Banks ($10-50 bn) NCO / Avg Loans (2) ▪ From 2006 to Q
Slide 8: Deposit Trends
Deposit . . . Trends Deposit Mix Remains Stable ($’millions) 10,436 10,964 11,156 ▪ Deposits increased by $192 million (or 1.7%), driven by an 10,177 10,232 1,742 1,757 increase in non-maturity deposits of $273 million (or 3.2%) 1,661 1,687 1,732 from the prior quarter. 4,354 4,537 ▪ The decrease in
Slide 9: Net Interest Income and Net Interest Margin Trends
Net Interest ... Income and Net Interest Margin Trends Net Interest Income ($’000) NIM Bridge 2.93% 96,447 0.02% 95,278 2.87% 0.04% 90,657 87,636 86,652 Q4-25 NIM Mix-shift in balances Subordinated Q1-26 NIM Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 and rates excluding debt impact Net Interest Income subordinat
Slide 10: Expense Discipline and Focused Investment
Expense . . . Discipline and Focused Investment Core Non-Interest Expense(1) ($’000) Core Efficiency Ratio(1) 71,474 72,390 71,227 72.28% 69,125 70.30% 68.19% 64,294 65.81% 66.76% 2.16% 2.12% 1.96% 1.97% 1.93% 40,242 41,387 40,984 39,484 36,740 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Core Efficiency Ratio Cor
Slide 11: Generating Consistent Returns
Generating ... Consistent Returns Book Value and Tangible Book Value per Common Share(1) ($) Core ROAA(1), ROTE(1), and ROTCE(1) 29.27 28.64 28.81 28.97 28.98 8.56% 8.21% 7.34% 7.19% 6.17% 7.00% 19.52 19.79 19.86 0.62% 0.60% 0.65% 0.68% 19.16 19.34 0.53% Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q1-25 Q2-25 Q3-
Slide 12: Management Q2-26 Outlook
Management ... Q2-26 Outlook(1) Outlook Comments • Expecting continued steady growth, subject to unanticipated payoffs. • Growth will be predominately driven by C&I with muted growth in CRE Loans 1-2% growth sequentially and Construction. • Credit expected to remain benign. Deposits Consistent with
Slide 13: Management 2026 Outlook
Management ... 2026 Outlook(1) Outlook Comments • Expecting continued steady growth, subject to unanticipated payoffs and supported by our strong pipeline. Loans 7-9% growth • Growth will be driven by C&I verticals offset by run-off from the Residential portfolio. • Credit is expected to remain beni
Slide 14: Appendix
... OceanFirst Bank Appendix OCEANFIRST BANK | A p r i l 23, 2026 14 14 14
Slide 15: 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 1,040 21.3% 55.1% 1.74x ▪ Low concentration in the Multi-Family portfolio, which rep
Slide 16: 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
Slide 17: 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% 0.03% 0.04% Northeast Mid Southeast Midwest Southwest West Atlantic ▪ Northeastern banks’ CRE portfolio net charge-offs have also historic
Slide 18: Non-GAAP Reconciliations (1 of 2)
Non-GAAP ... Reconciliations (1 of 2) 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) $ 20,506 $ 13,093 $ 17,330 $ 16,200 $ 20,505 Adjustments to excl
Slide 19: Non-GAAP Reconciliations (2 of 2)
Non-GAAP ... Reconciliations (2 of 2) 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 $ 1,653,427 $ 1,643,680 $ 1,709,117 Less: Goodwill 517,481 517