Oceanfirst Financial Corp. · NASDAQ:OCFC
Oceanfirst Financial — Investor Presentation (June 2002)
26 slides from Oceanfirst Financial's investor presentation, Jun 26, 2002
Slide 1: OceanFirst Financial Corp. Investor Presentation June 2002
Exhibit 99.1 OceanFirst Financial Corp. INVESTOR PRESENTATION JUNE 2002 SEAN ICEA ~~ FIRS NASDAG: OGFC
Slide 2: Forward-looking statements
OceanFirst Financial Corp. This presentation contains statements which are forward-looking in nature, such as reference to strategic initiatives and growth plans These are based on our current plans and expectations, which are subject to a number of uncertainties and risks in the marketplace that co
Slide 3: OceanFirst Financial Today
OceanFirst Financial Today = Holding company for the 100 year old financial services firm serving the community banking needs of the attractive central Jersey Shore growth market between the major metropolitan areas of New York City and Philadelphia = $1.7 Billion in Assets -17 OceanFirst Bank offic
Slide 4: Total Market deposit share
# ‘Total Market Bank Lrnches Depots (000) size 600) share" 41 $ 1,689,242 $ 41,201 18.6, WachoviafFirst Union 40 $1307800 «§ 37.695 144 $1,214,059 $ 35,734 134 12 $ 986,400 $ 82,200 Hudson City Savings 14 $ 910782 62.798 100 16 $ 876627 $ 54,789 OT PNC 15 $ 386,884 $ 25.792 43 ‘Source; Sheshunott-da
Slide 5: Retail Branch Growth
Retail Branch Growth = Successful de novo branching with emphasis on Core Deposit generation m From 1996 through 1@ 02, 8 branches opened an average of 35 months with total deposits of $242 million (630 million per branch) and an average Core Deposit mix of 78% = Additional Ocean County Branches + H
Slide 6: Loan Portfolio Growth
Loan Portfolio Growth = $164 million growth in loans receivable in 2001; a 14.4% increase over the prior year * $150 million targeted in 2002 = Residential Lending Market Leader * Bank remains #1 residential mortgage originetorin Ocean County * * $401 million originated in 2001 solely by the Bank’s
Slide 7: Business Plan 2002-2004
Business Plan 2002-2004 = Focus onde novo branch and core account development with "High Performance Checking’ products appealing to a broad customer base = Market commercial lending services to local businesses, supplanting mortgage portfolio growth m= GTow non-interest revenue through the continue
Slide 8: Deposit Composition
Deposit Composition Core accounts at 53.3% of deposits, increasing from 33.9% in 1996 NASDAG-OCFE
Slide 9: The Changing Deposit Mix
The Changing Deposit Mix December 31, 1997 March 31, 2002
Slide 10: Total Loans $1.336 Billion
Meaniboriore Total Loans $1.336 Billion Total loans have grovin at @ compound annual rate ot 14.7% through 2001 ‘Consumer and commercial loans have been carefully and conservtively grown to 17.7% of total loans: NASDAQ: OGFC
Slide 11: The Changing Loan Portfolio Mix
Slide 12: Non-Interest Income
Non-Interest Income Focus on fee income opportunities has resulted in a 27.5% compound annual ‘Increase each of the past four years _Excluing galn (oss) on sees of loans and secures NASDAQ: OGFC
Slide 13: Non-Interest Income as a % of Revenue
Non-Interest Income as a % of Revenue December 31, 1997 & — Gs
Slide 14: Business Plan 2002-2004
Business Plan 2002-2004 = Focus onde novo branch and core account development with "High Performance Checking” products appealing to a broad customer base = Market commercial lending services to local businesses to supplant mortgage portfolio growth = Grow non-interest revenue with the continued dev
Slide 15: Capital Management
Capital Management Successfully delivering what we said we would do in 1996 IPO. = Historical Repurchase of 13.0 milion shares, 48% of shares originally issued + Ninth repurchase program for 10% of outstanding shares announced 7/18/01 100% stack civiclend ~ 6/98; 50% stock dividend ~ 5/02 Quarterly
Slide 16: Return on Average Equity
Soe eu Return on Average Equity(ROE) Excess capital aradually being leveraged to help build ROE tons 5 ‘capital ROE eas 2]
Slide 17: Recent Product and Service Offerings
Recent Product and Service Offerings = Business + Cash Management account + Highly efficient small business loan proaram * Correspondent lease financing = Retail + Governmental deposit banking relationships m Delivery Systems + de novo branches 3499 ~ 2002 + Transactional on-line banking services @
Slide 18: Building Additional Shareholder Value
Building Additional Shareholder Value Inthe long run, we think the following factors undoubtedly create value for the long term OCFC investor + EPS Growth 4+ Targeted minimum 15% in 2002— 2004 (Compound Annual EPS growth of 20 4% over the past four years) + Prudent additional capital leverage + Targ
Slide 19: Building Additional Shareholder Value (cont.)
Building Additional Shareholder Value ont.) * Effective risk and spread management + Net charge-offs amounted to less than 1 basis point of average net loans from 1998 through 2001 + OceanFirst’s only shared national credit charged off 1002 + Despite significant interest rate volatility and the acti
Slide 20: EPS Growth
EPS Growth ‘Targeting a minimum 15% for 2002 — 2004 $200. NASDAG: OGFC
Slide 21: Prudent Additional Capital Leverage
Prudent Additional Capital Leverage Targeting 7% - 774% by 2004 20%.
Slide 22: Non-Interest Income Growth
Non-Interest Income Growth Targeting a minimum 20% for 2002 — 2004 NASDAG: OGFC
Slide 23: Net charge-offs below one basis point while margin expanded
Through 2001, net charge-offs were less than 1 basis point, while Net Interest Margin expanded. PEERED E EGS 1997 1998 499920002001 -@ Netinterest Margin” El Not Charge.offsiAverage Loans Outstanding NASDAG:OOFE:
Slide 24: Four Solid Years of Growth
Four Solid Years of Growth At December 31 2001 1997 cacR Total Loans $1.350477000 $ 794,316,000 14.2% Core Deposits 661,909,000 922,904,000 14.9% Year Ended December 34 2001 1997 cAGR Earnings Per Share $1.85 $88 20.4% Retum on Equity 12.01% 600% 18.5% Non-Interest income (1) $6,971,000 $2,641,000 2
Slide 25: Total Return
Total Return Average annual total return for the period from 12/31/96 to 12/31/01 BE Nescaq us Market gj SNL Thritt index [jj OceanFirst NASDAQ: OGFC
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