Slide 1: 2Q 2025 Earnings Release Supplement
. . . (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. OceanFirst Financial Corp. 2Q 2025 Earnings Release Supplement(1) July 2025 Exhibit 99.2
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 Private Securities Litigation Reform Act of 1995, which are based on certain assumptions and describe future plans, strateg
Slide 3: Q2-25 Financial Highlights
. . .Q2-25 Financial Highlights (1) For non-GAAP financial measures, please refer to the ‘Non-GAAP Reconciliations’ in the Appendices for a reconciliation to GAAP financial information. (2) CET1 ratio represents an estimate as of Q2-25. Financial Highlights $0.31 Core Diluted EPS(1) $88 million Net
Slide 4: Quarterly
. . . Quarterly Earnings Update 4
Slide 5: Premier Bank Launch
. . .Premier Bank Launch Multi-Year Aspiration Goals Performance To Date Teams to achieve their full run-rate in 2 to 3 years. Target deposits of $2 to $3 billion by end of 2027. 9 Teams hired and onboarded, totaling 36 FTEs. $115 million of deposits thru 6/30/25 at a weighted average cost o
Slide 6: Loan Portfolio Trends
. . .Loan Portfolio Trends Moderated Loan Growth in the Portfolio ($’millions) Total loan pipeline at Q2-25 is $955 million, driven by a record commercial loan pipeline of $791 million. 5,325 5,273 5,288 5,200 5,068 858 842 902 897 914 616 661 648 749 863 2,978 3,003 3,050 3,053 3,119 5.46% 242 Q2
Slide 7: Quarterly Credit Trends (1 of 2)
. . . Strong asset quality trends driven by prudent growth and strong credit risk management Quarterly Credit Trends (1 of 2) Note: At June 30, 2025, of the Special Mention loans and Substandard loans represented above, 87.3% and 82.9% were current on payments, respectively. (1) OCFC criticized loan
Slide 8: Quarterly Credit Trends (2 of 2)
. . .Quarterly Credit Trends (2 of 2) Loan Allowance for Credit Losses (ACL) Plus PCD & General Credit Marks / Total Loans NCOs / (Recoveries) and Provision for Credit Loss Expense ($’thousands) 0.06% 0.69% Q2-24 0.06% 0.69% Q3-24 0.06% 0.73% Q4-24 0.05% 0.78% Q1-25 0.05% 0.78% Q2-25 0.75% 0.75% 0.7
Slide 9: Track Record of Strong Credit Performance
. . . COVID-19 Pandemic Track Record of Strong Credit Performance From 2006 to Q2-25, inclusive of the Global Financial Crisis, Hurricane Sandy, and the COVID-19 Pandemic, OCFC’s NCO to average loans totaled 13 bps per year compared to 74 bps for all commercial banks between $10 - $50 billion in a
Slide 10: Deposit Trends
. . .Deposit Trends (1) Deposit beta is calculated as the increase in rate paid on total deposits per quarter divided by the incremental increase in the fed funds rate since January 1, 2022. Up cycle is the period from January 1, 2022 to June 30, 2024. The down cycle is from July 1, 2024 to June 30,
Slide 11: Net Interest Income and Net Interest Margin Trends
. . .Net Interest Income and Net Interest Margin Trends Net Interest Margin NIM Bridge 2.71% Q2-24 2.67% Q3-24 2.69% Q4-24 2.90% Q1-25 2.91% Q2-25 NIM Net Interest Income ($’000) 82,263 Q2-24 82,219 Q3-24 83,329 Q4-24 86,652 Q1-25 87,636 Q2-25 Net Interest Income Headwinds Competitive market envir
Slide 12: Core Efficiency Ratio and Non-Interest Expense
. . . Core Efficiency Ratio (1) Expense Discipline and Focused Investment Core Non-Interest Expense (1) ($’000) 8,377 9,512 10,328 9,081 10,867 2,161 1,970 2,620 2,425 4,3366,018 5,940 6,366 6,647 6,8082,685 2,618 2,517 2,983 2,8986,243 6,183 6,306 6,418 6,323 33,136 35,844 36,602 36,740 40,242 Q2-2
Slide 13: Generating Consistent Returns
. . .Generating Consistent Returns Book Value and Tangible Book Value per Common Share ($)(1) Core ROAA(1), ROTE(1), and ROTCE(1) Capital remains strong and above “well capitalized” levels. Tangible book value per common share increased $0.41 or 2% from the same quarter last year. The Company
Slide 14: Management Q3-25 Outlook
. . .Management Q3-25 Outlook Loans Deposits Operating Expenses Net Interest Income • Expecting accelerating growth, subject to unanticipated payoffs and supported by our strong pipeline. • Maintain loan-to-deposit ratio ~100%. 2-3% growth sequentially (8-12% annualized) Growth consistent with loan
Slide 15: Appendix
Appendix @ OcEANFiRSsT
Slide 16: Diversified CRE Portfolio with Conservative Risk Profile
. . .Diversified CRE Portfolio with Conservative Risk Profile Underlying collateral is diversified. Low concentration in the Multi-Family portfolio, which represents 6% of total assets. Maturity wall is modest and has a minimal impact: Our CRE Investor- Owned maturity wall, totaling $1.0 billi
Slide 17: Conservative Risk Profile of CRE IO Office & Construction
. . .Conservative Risk Profile of CRE IO Office & Construction Portfolio Highlights 96% of Office & Construction loans are pass-rated (not classified or criticized). 93% of Office & Construction loans are classified as non-Central Business District loans. CBD loans comprise < 1% of total asset
Slide 18: Northeast Outperforms Through Credit Cycles
. . . 0.29% 0.32% 0.51% 0.63% 0.80% 1.43% Northeast Midwest Mid Atlantic Southeast Southwest West COVID-19 Pandemic Hurricane Sandy Global Financial Crisis Northeast Outperforms Through Credit Cycles… Historically, net charge-offs for Northeastern headquartered banks have greatly outperformed majo
Slide 19: Similar Story in Commercial Real Estate Portfolios
. . . Hurricane Sandy Global Financial Crisis COVID-19 Pandemic …With a Similar Story in Commercial Real Estate Portfolios 0.03% 0.04% 0.09% 0.10% 0.11% 0.16% Northeast Southwest Southeast Mid Atlantic Midwest West GFC Peak CRE NCOs Northeastern banks’ CRE portfolio net charge-offs have also histo
Slide 20: Non-GAAP Reconciliations (1 of 2)
. . .Non-GAAP Reconciliations (1 of 2) 20 Non-GAAP Reconciliation For the Three Months Ended #039;000 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Core Earnings: Net income available to common stockholders (GAAP) $ 16,200 $ 20,505 $ 20,905 $ 24,112 $ 23,369 Adjustment
Slide 21: Non-GAAP Reconciliations (2 of 2)
. . .Non-GAAP Reconciliations (2 of 2) 21 Non-GAAP Reconciliation #039;000 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Tangible Equity Total stockholders' equity $ 1,643,680 $ 1,709,117 $ 1,702,757 $ 1,694,508 $ 1,676,669 Less: Goodwill 523,308 523,308 523,308 506,14