OceanFirst Financial : Investor Presentation (Investor Presentation November)

OCFC

. . .

Exhibit 99.1

OceanFirst Financial Corp.

Investor Presentation1

November 2024

1 The 3Q 2024 Investor Presentation should be read in conjunction with the Earnings Release furnished as Exhibit 99.1 to Form 8-K filed with the SEC on October 17, 2024 and the Quarterly Report on Form 10-Q filed with the SEC on October 31, 2024.

Legal.Disclaimer. .

FORWARD LOOKING STATEMENTS.

In addition to historical information, this news release 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, strategies and expectations of the Company. These forward-looking statements are generally identified by use of the words "believe," "expect," "intend," "anticipate," "estimate," "project," "will," "should," "may," "view," "opportunity," "potential," or similar expressions or expressions of confidence. The Company's ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations of the Company and its subsidiaries include, but are not limited to: changes in interest rates, inflation, general economic conditions, potential recessionary conditions, levels of unemployment in the Company's lending area, real estate market values in the Company's lending area, potential goodwill impairment, natural disasters, potential increases to flood insurance premiums, the current or anticipated impact of military conflict, terrorism or other geopolitical events, the level of prepayments on loans and mortgage-backed securities, legislative/regulatory changes, changes in New York city rent regulation law, monetary and fiscal policies of the U.S. Government including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, the quality or composition of the loan or investment portfolios, demand for loan products, deposit flows, the availability of low-cost funding, changes in liquidity, including the size and composition of the Company's deposit portfolio and the percentage of uninsured deposits in the portfolio, changes in capital management and balance sheet strategies and the ability to successfully implement such strategies, competition, demand for financial services in the Company's market area, changes in consumer spending, borrowing and saving habits, changes in accounting principles, a failure in or breach of the Company's operational or security systems or infrastructure, including cyberattacks, the failure to maintain current technologies, a failure to retain or attract employees, the effect of the Company's rating under the Community Reinvestment Act, the impact of pandemics on our operations and financial results and those of our customers and the Bank's ability to successfully integrate acquired operations. These risks and uncertainties are further discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, under Item 1A - Risk Factors and elsewhere, and subsequent securities filings and should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

NON-GAAP FINANCIAL INFORMATION.

This presentation contains certain non-GAAP (generally accepted accounting principles) measures. These non-GAAP measures, as calculated by the Company, are not necessarily comparable to similarly titled measures reported by other companies. Additionally, these non-GAAP measures are not measures of financial performance or liquidity under GAAP and should not be considered alternatives to the Company's other financial information determined under GAAP. See reconciliations of certain non-GAAP measures included in the Company's Earnings Release furnished as Exhibit 99.1 to Form 8-K as filed with the SEC on October 17, 2024 and the Quarterly Report on Form 10-Qfiled with the SEC on October 31, 2024.

MARKET AND INDUSTRY DATA.

This presentation references certain market, industry and demographic data, forecasts and other statistical information. We have obtained this data, forecasts and information from various independent, third-party industry sources and publications. Nothing in the data, forecasts or information used or derived from third party sources should be construed as advice. Some data and other information are also based on our good faith estimates, which are derived from our review of industry publications and surveys and independent sources. We believe that these sources and estimates are reliable but have not independently verified them. Statements as to our market position are based on market data currently available to us. These estimates involve inherent risks and uncertainties and are based on assumptions that are subject to change.

2

Overview. . . of OceanFirst

Corporate Overview and Market Data

Tailored Footprint Across Key Markets

Ticker

OCFC (NASDAQ)

HQ

Red Bank, NJ

Branch Network

39 branches; 8 commercial banking centers

Core Markets

New Jersey, New York City, Greater Philadelphia

Expansion Markets

Boston and Baltimore

Balance Sheet and Capital (Q3-24)

Core Profitability (Q3-24)2

Assets

$13.5 billion

Net Income

$23.2 million

Net Loans

$10.0 billion

EPS

$0.39

Deposits

$10.1 billion

Net Interest Margin (%)3

2.65%

Non-performing Loans / Loans1

0.25%

Efficiency Ratio (%)

66.0%

Tang. Equity / Tang. Assets2

9.1%

ROAA (%)

0.69%

CET1 Ratio

11.3%

ROTCE (%)

8.2%

Q3-24 Loan Portfolio ($'millions)

Q3-24 Deposit Base ($'millions)

Home Eq. & Consumer

Non-interest

$243

Time deposits

Residential

$2,221

$1,638

$3,003

$5,273 CRE Investor

Savings $1,072

Owned

$3,896

$661

$1,289

C&I

$842

Interest-bearing

Money market

CRE Owner Occupied

Commercial Banking Centers

Retail Branches

3

Note:All data presented is as of September 30, 2024.

(1)

PCD loans are not included in these metrics.

(2)

For non-GAAP financial measures, please refer to the 'Non-GAAP Reconciliations' in the Appendices for a reconciliation to GAAP financial information.

(3)

Core NIM excludes purchase accounting and prepayment fee income. Refer to the Earnings Release for additional information.

Proven. . .Historical Net Interest Income and Loan Growth

Peer Leading Net Interest Income Growth ($'000)

3.52%

3.71%

3.62%

3.46%

3.37%

3.25%

3.16%

3.02%

2.93%

334,885

2.73%

312,951

305,338

377,477

369,731

240,502

255,971

250,706

169,218

120,262

76,829

2015

2016

2017

2018

2019

2020

2021

2022

2023

YTD Sep-24

Net Interest Margin

YTD Sept-24 Annualized

Net Interest Income

Significant Growth in Commercial Loan Portfolio ($'millions)

9,918

10,195

10,022

251

243

8,623

264

7,756

261

2,862

2,980

3,003

6,214

339

2,480

5,589

2,309

1,610

1,503

408

1,620

475

1,504

3,817

3,975

2,321

1,616

2,045

281

291

1,988

1,749

1,189

5,354

1,704

1,046

4,378

5,172

5,273

831

193

687

758

2,296

3,492

2,023

453

1,135

1,187

511

2015

2016

2017

2018

2019

2020

2021

2022

2023

Q3-24

4

Home Equity & Consumer

Residential

Owner Occupied CRE & C&I

Investor CRE

20%

Net Interest

Income CAGR

15%

Owner Occupied

CRE / C&I CAGR

31%

Investor CRE

CAGR

Successful. . . Commercial Loan Growth and Geographic Diversification

Commercial Loans by Geography1 as of Q3-24

Boston & Baltimore

8%

Philadelphia

24%

38% New Jersey

Total: $6.8B

30%

New York

Emphasis on Commercial

(Commercial % of Loan Portfolio)

+19%

68%

49%

2015Q3-24

Increase of $5.8B

in commercial

loans since 2015

5

Balanced. . . Approach to Deposit Pricing and Growth

Deposit Composition ($'millions)

9,733

9,675

10,435

10,116

9,428

1,657

1,638

2,412

2,101

2,133

5,815

6,329

3,912

3,896

1,377

3,830

4,188

4,343

1,151

3,647

4,202

1,022

783

757

2,539

1,289

2,350

784

714

1,399

1,917

1,627

1,954

736

1,072

1,488

578

1,491

337

570

1,608

459

153

364

860

673

661

877

898

1,542

2,445

2,221

1,373

256

311

867

937

775

607

646

2015

2016

2017

2018

2019

2020

2021

2022

2023

Q3-24

Non-interest-bearing deposits

Interest-bearing deposits

Money Market

Savings

Time deposits

Strong Deposit Growth ($'millions)

9,428

9,733

9,675

10,435

10,116

1,894

5,815

6,329

4,343

449

1,616

4,188

1,917

2,123

123

2015

2016

2017

2018

2019

2020

2021

2022

2023

Q3-24

6

Acquired Deposits

Organic Deposits

Deposit Stratification

47% Total: $10.1B 53%

Commercial Consumer

Conservative. . . Credit Risk Profile

Non-performing Loans by Type as % of Loans1

Continued Focus on Credit Risk1

0.89

0.52%

0.85

0.01%

0.47%

0.75

0.02%

0.73

0.69

0.35%

0.60

0.85

0.73

0.64

0.64

0.62

0.01%

0.36%

0.31%

0.54%

0.08%

0.29%

0.03%

0.30%

0.00%

0.26%

0.25%

0.00%

0.52

0.05%

0.10%

0.12%

0.22%

0.00%

0.45%

0.00%

0.19%

0.00%

0.14%

0.05%

0.12%

0.19%

0.35

0.31

0.04%

0.05%

0.03%

0.11%

0.59

0.50

0.47

0.44

0.40

0.32%

0.29

0.53

0.47

0.38

0.21%

0.02%

0.02%

0.11%

0.13%

0.12%

0.11%

0.02%

0.02%

0.25%

0.09%

0.07%

0.06%

0.05%

0.22

0.22%

0.19

0.15%

0.16%

0.26 0.25

0.19% 0.19%

2016

2017

2018

2019

2020

2021

2022

2023

Q3-24

2016

2017

2018

2019

2020

2021

2022

2023

Q3-24

Commercial & Industrial

Commercial Real Estate

Consumer

Residential

NPA/Assets

Peer Average NPA/Assets

NPL/Loans

Peer Average NPL/Loans

(1) PCD loans are not included in these metrics. Refer to "Asset Quality" section in the Earnings Release for additional information.

7

Operational. . . Efficiency

Operating Efficiency ($'millions)

Deposits per Branch ($'millions)

Assets per Branch

Assets per FTE

400

350

300

250

200

150

345

347

346

13250

13

14

14

12

100

8

9

9

185

7

7

118

127

147

50

96

85

0

20

18

16

14

12

10

8

6

4

2

0

3.6x

152

113

94 99

71 69

268

255259

207

2015 201616 20177 2018018 20192

20200 2021 20222 20233 Q3--2424

2015 2016 2017 2018 2019 2020 2021 2022 2023 Q3-24

Annualized Core Non-interest Expense1 to Total Avg. Assets

Q3-24

2015

(55) bps

1.79%

2.39%

8

(1) For non-GAAP financial measures, please refer to the 'Non-GAAP Reconciliations' in the Appendices for a reconciliation to GAAP financial information.

Business. . . Model Strength Driving Significant Capital Return

Growth Since 2013

Tangible Book Value per Share 1

56.4%

Total Capital Return per Share

139.9%

$20.55

$1.97

$18.42

$16.82

$1.39

$3.45

$13.95

$15.62

$15.53

$1.09

$2.77

$0.55

$0.94

$1.04

$2.15

$0.49

$1.01

$1.55

$12.33

$29.58

$27.68 $3.35

$25.61 $2.98

$23.60 $2.98

$6.95

$21.36

$2.86

$6.35

$2.25

$5.55

$4.81

$4.13

The growth in TBV per common share (TBVPCS1) is attributed to:

▪ Minimally dilutive and strategic

acquisitions in critical new markets

▪ Stable and competitive dividend

▪ 111th consecutive quarter

▪ Historical Payout Ratio of 30%

to 40%

▪ Repurchased 87,324 shares in Q3-24

$15.13

$14.26

$13.67

$13.58

$12.91

$12.94

$14.98

$15.93

$18.35

$17.08

$19.28

▪ 1.6 million shares available to be

repurchased

▪ Total repurchases of 1,383,238

shares in YTD Sep-24.

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

Q3-24

Cumulative Share Repurchase/Share Cumulative Dividends/Share TBVPCS

9

I N V E S T O R P R E S E N T A T I O N

. . .

Quarterly Earnings Update

10

Disclaimer

OceanFirst Financial Corporation published this content on November 11, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 11, 2024 at 19:53:04.570.