# EDGAR Filing Document

**Accession Number:** 0001004702
**File Stem:** 0001004702-25-000104
**Filing Date:** 2025-7
**Character Count:** 110752
**Document Hash:** fcba6c5a09beac1464ab70c12c201f7b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004702-25-000104.hdr.sgml**: 20250724

**ACCESSION NUMBER**: 0001004702-25-000104

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 36

**CONFORMED PERIOD OF REPORT**: 20250724

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250724

**DATE AS OF CHANGE**: 20250724

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OCEANFIRST FINANCIAL CORP
- **CENTRAL INDEX KEY:** 0001004702
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 223412577
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-11713
- **FILM NUMBER:** 251147349

**BUSINESS ADDRESS:**
- **STREET 1:** 975 HOOPER AVE
- **CITY:** TOMS RIVER
- **STATE:** NJ
- **ZIP:** 08753-8396
- **BUSINESS PHONE:** 7322404500

**MAIL ADDRESS:**
- **STREET 1:** 975 HOOPER AVENUE
- **CITY:** TOMS RIVER
- **STATE:** NJ
- **ZIP:** 08723

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OCEAN FINANCIAL CORP
- **DATE OF NAME CHANGE:** 19951208

?xml version='1.0' encoding='ASCII'? ocfc-20250724

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC** 

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of report (Date of earliest event reported): July 24, 2025**

**OCEANFIRST FINANCIAL CORP.** 

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-11713** | **22-3412577** |
| **(State or other jurisdiction of<br>incorporation or organization)** | **(Commission<br>File No.)** | **(IRS Employer<br>Identification No.)** |

---

**110 West Front Street, Red Bank, New Jersey 07701** 

**(Address of principal executive offices, including zip code)**

**(732)240-4500** 

**(Registrant's telephone number, including area code)**

**Not Applicable**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading symbol** | **Name of each exchange in which registered** |
| Common stock, $0.01 par value per share | OCFC | NASDAQ |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**ITEM 2.02RESULTS OF OPERATIONS AND FINANCIAL CONDITION**

On July 24, 2025, OceanFirst Financial Corp. (the "Company") issued a press release announcing its financial results for the quarter ended June 30, 2025. That press release is attached to this Report as Exhibit 99.1.

**ITEM 7.01&nbsp;&nbsp;&nbsp;&nbsp;REGULATION FD DISCLOSURE**

The Company is scheduled to make presentations to current and prospective investors after July 24, 2025. Attached as Exhibit 99.2 of this Form 8-K is a copy of the presentation which OceanFirst Financial Corp. will make available at these presentations and will post on its website at www.oceanfirst.com. This report is being furnished to the SEC and shall not be deemed "filed" for any purpose.

**ITEM 8.01OTHER EVENTS**

In the press release described in Item 2.02, the Company announced that the Board of Directors declared a regular quarterly cash dividend on the Company's outstanding common stock. The cash dividend will be in the amount of $0.20 per share and will be payable on August 15, 2025 to the stockholders of record at the close of business on August 4, 2025.

**ITEM 9.01FINANCIAL STATEMENTS AND EXHIBITS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| (d) | EXHIBITS | EXHIBITS |
| <u>[99.1](ex991-earningsreleasejune2.htm)</u> | Press Release dated | July 24, 2025 |
| <u>[99.2](ex992q22025-earningsrele.htm)</u> | Text of written presentation which OceanFirst Financial Corp. intends to provide to current and prospective investors after July 24, 2025. | Text of written presentation which OceanFirst Financial Corp. intends to provide to current and prospective investors after July 24, 2025. |

---

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | | OCEANFIRST FINANCIAL CORP. |
| Dated: | July 24, 2025 | /s/ Patrick S. Barrett |
| | | Patrick S. Barrett |
| | | Senior Executive Vice President and Chief Financial Officer |

---

## Exhibit 99.1

---

| | |
|:---|:---|
| ![oceanfirstpressreleas19a.jpg](oceanfirstpressreleas19a.jpg) | Press Release |

---

**Exhibit 99.1**

**Company Contact:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** 

**Patrick S. Barrett**

**Chief Financial Officer**

**OceanFirst Financial Corp.** 

**Tel: (732) 240-4500, ext. 27507**

**Email: pbarrett@oceanfirst.com**

**<u>FOR IMMEDIATE RELEASE</u>**

**OCEANFIRST FINANCIAL CORP.**

**ANNOUNCES SECOND QUARTER**

**FINANCIAL RESULTS**

**&nbsp;&nbsp;&nbsp;&nbsp;RED BANK, NEW JERSEY, July 24, 2025 - OceanFirst Financial Corp. (NASDAQ:OCFC)** (the "Company"), the holding company for OceanFirst Bank N.A. (the "Bank"), announced net income available to common stockholders of $16.2 million, or $0.28 per diluted share, for the three months ended June 30, 2025, a decrease from $23.4 million, or $0.40 per diluted share, for the corresponding prior year period, and a decrease from $20.5 million, or $0.35 per diluted share, for the linked quarter. For the six months ended June 30, 2025, the Company reported net income available to common stockholders of $36.7 million, or $0.63 per diluted share, a decrease from $51.0 million, or $0.87 per diluted share, for the corresponding prior year period. Selected performance metrics are as follows (refer to "Selected Quarterly Financial Data" for additional information):

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **For the Three Months Ended,** | **For the Three Months Ended,** | **For the Three Months Ended,** | **For the Six Months Ended,** | **For the Six Months Ended,** |
| **Performance Ratios (Annualized):** | **June 30,** | **March 31,** | **June 30,** | **June 30,** | **June 30,** |
| **Performance Ratios (Annualized):** | **2025** | **2025** | **2024** | **2025** | **2024** |
| Return on average assets | 0.49% | 0.62% | 0.70% | 0.56% | 0.76% |
| Return on average stockholders' equity | 3.86 | 4.85 | 5.61 | 4.36 | 6.13 |
| Return on average tangible stockholders' equity <sup>(a)</sup> | 5.66 | 7.05 | 8.10 | 6.36 | 8.86 |
| Return on average tangible common equity <sup>(a)</sup> | 5.66 | 7.40 | 8.51 | 6.36 | 9.30 |
| Efficiency ratio | 71.93 | 65.67 | 62.86 | 68.82 | 61.17 |
| Net interest margin | 2.91 | 2.90 | 2.71 | 2.91 | 2.76 |

---

(a) Return on average tangible stockholders' equity and return on average tangible common equity ("ROTCE") are non-GAAP ("generally accepted accounting principles") financial measures. Refer to "Explanation of Non-GAAP Financial Measures," "Selected Quarterly Financial Data" and "Non-GAAP Reconciliation" tables for reconciliation and additional information regarding non-GAAP financial measures.

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Core earnings<sup>1</sup> for the three and six months ended June 30, 2025 were $17.7 million and $38.0 million, respectively, or $0.31 and $0.66 per diluted share, a decrease from $22.7 million and $48.3 million, respectively, or $0.39 and $0.83 per diluted share, for the corresponding prior year periods, and a decrease from $20.3 million, or $0.35 per diluted share, for the linked quarter.

Core earnings PTPP<sup>1</sup> for the three and six months ended June 30, 2025 was $26.4 million and $58.8 million, or $0.46 and $1.02 per diluted share, as compared to $32.7 million and $68.9 million, respectively, or $0.56 and $1.18 per diluted share, for the corresponding prior year periods, and $32.4 million, or $0.56 per diluted share, for the linked quarter. Selected performance metrics are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **For the Three Months Ended,** | **For the Three Months Ended,** | **For the Three Months Ended,** | **For the Six Months Ended,** | **For the Six Months Ended,** |
| | **June 30,** | **March 31,** | **June 30,** | **June 30,** | **June 30,** |
| **Core Ratios**<sup>1</sup> **(Annualized):** | **2025** | **2025** | **2024** | **2025** | **2024** |
| Return on average assets | 0.53% | 0.62% | 0.68% | 0.58% | 0.72% |
| Return on average tangible stockholders' equity | 6.17 | 7.00 | 7.86 | 6.59 | 8.38 |
| Return on average tangible common equity | 6.17 | 7.34 | 8.26 | 6.59 | 8.81 |
| Efficiency ratio | 72.28 | 65.81 | 63.47 | 69.06 | 62.24 |
| Diluted earnings per share | $0.31 | $0.35 | $0.39 | $0.66 | $0.83 |
| PTPP diluted earnings per share | 0.46 | 0.56 | 0.56 | 1.02 | 1.18 |

---

Key developments for the recent quarter are described below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Loan Growth:** Total loans increased $59.8 million, representing a 2% annualized growth rate, which included $131.7 million of commercial and industrial loan growth. The commercial loan pipeline reached a record high of $790.8 million, which increased 111% from $375.6 million in the linked quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Premier Banking:** Launched in mid-April and is demonstrating strong progress with approximately 200 new relationships and $115.0 million in new deposits in the first few weeks of operation.

<sup>1</sup> Core earnings and core earnings before income taxes and provision for credit losses ("PTPP" or "Pre-Tax-Pre-Provision"), and ratios derived therefrom, are non-GAAP financial measures. For the periods presented, core earnings exclude merger related expenses, net (gain) loss on equity investments, net gain on sale of trust business, the opening provision for credit losses in connection with the acquisition of Spring Garden Capital Group, LLC ("Spring Garden"), the Federal Deposit Insurance Corporation ("FDIC") special assessment and the income tax effect of these items, as well as loss on redemption of preferred stock (collectively referred to as "non-core" operations). PTPP excludes the aforementioned pre-tax "non-core" items along with income tax expense (benefit) and provision for credit losses (exclusive of the Spring Garden opening provision). Refer to "Explanation of Non-GAAP Financial Measures," "Selected Quarterly Financial Data" and the "Non-GAAP Reconciliation" tables for additional information regarding non-GAAP financial measures.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Capital:** The Company repurchased 1,003,550 shares during the quarter and redeemed all of its preferred stock. Book value per share decreased $0.63 to $28.64 while tangible book value per share increased $0.18 to $19.34 as compared to the linked quarter.

Chairman and Chief Executive Officer, Christopher D. Maher, commented on the Company's results, "We are pleased to present our current quarter results, which reflected loan and deposit growth, stable asset quality metrics, capital returns through share repurchases, and modest net interest income and margin expansion." Mr. Maher added, "Looking ahead, we expect to continue to build on this momentum from our commercial banking teams with a record commercial loan pipeline and new deposit relationship opportunities."

The Company's Board of Directors declared its 114th consecutive quarterly cash dividend on common stock. The quarterly cash dividend on common stock of $0.20 per share will be paid on August 15, 2025 to common stockholders of record on August 4, 2025.

**<u>Results of Operations</u>**

During the current quarter, the Company redeemed all of its preferred stock for an aggregate payment of $57.4 million, at a redemption price of $25.00 per share, which resulted in a net loss on redemption of $1.8 million. Additionally, the current quarter included professional fees of $1.6 million related to recruitment fees for the Company's recent commercial banking hires and non-recurring benefits of $1.1 million in other income.

**<u>Net Interest Income and Margin</u>**

*Three months ended June 30, 2025 vs. June 30, 2024*

Net interest income increased to $87.6 million, from $82.3 million, primarily reflecting the net impact of the decreasing interest rate environment. Net interest margin increased to 2.91%, from 2.71%, which included the impact of purchase accounting accretion and prepayment fees of 0.04% for both periods. Net interest margin increased primarily due to the decrease in cost of funds outpacing the decrease in the yield on average interest-earning assets.

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Average interest-earning assets decreased by $138.2 million primarily due to a decrease in securities and, to a lesser extent, commercial loans, partly offset by an increase in residential loans. The average yield for interest-earning assets decreased to 5.14%, from 5.25%.

The cost of average interest-bearing liabilities decreased to 2.77%, from 3.14%, primarily due to lower cost of deposits and, to a lesser extent, Federal Home Loan Bank ("FHLB") advances. The total cost of deposits decreased 31 basis points to 2.06%, from 2.37%. Average interest-bearing liabilities decreased by $132.8 million, primarily due to decreases in other borrowings, partly offset by an increase in FHLB advances.

*Six months ended June 30, 2025 vs. June 30, 2024*

Net interest income increased to $174.3 million, from $168.5 million, reflecting the net impact of the decreasing interest rate environment. Net interest margin increased to 2.91%, from 2.76%, which included the impact of purchase accounting accretion and prepayment fees of 0.04% for both periods.

Average interest-earning assets decreased by $185.8 million, primarily driven by a decrease in securities and, to a lesser extent, loans. The average yield decreased to 5.14%, from 5.25%.

The cost of average interest-bearing liabilities decreased to 2.77%, from 3.09%. The total cost of deposits decreased to 2.06%, from 2.34%. Average interest-bearing liabilities decreased by $179.6 million, primarily due to decreases in total deposits and other borrowings, partly offset by an increase in FHLB advances.

*Three months ended June 30, 2025 vs. March 31, 2025*

Net interest income increased by $1.0 million, to $87.6 million from $86.7 million and net interest margin increased to 2.91%, from 2.90%, primarily reflecting the impact of purchase accounting and prepayment fees of 0.04% and 0.03%, respectively.

Average interest-earning assets decreased by $46.5 million, primarily due to a decrease in securities. The yield on average interest-earning assets increased to 5.14%, from 5.13%.

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Average interest-bearing liabilities decreased by $36.1 million, primarily due to decreases in interest-bearing checking deposits and FHLB advances, partly offset by an increase in time deposits. The total cost of average interest-bearing liabilities decreased to 2.77%, from 2.78%, primarily due to lower cost of time deposits, partly offset by an increase in the cost of other borrowings. The total cost of deposits remained stable at 2.06% for both periods.

**<u>Provision for Credit Losses</u>**

&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses for the three and six months ended June 30, 2025 was $3.0 million and $8.4 million, respectively, as compared to $3.1 million and $3.7 million for the corresponding prior year periods, and $5.3 million for the linked quarter. The current quarter provision was primarily driven by net loan charge-offs of $2.2 million, a net reserve build due to mix-shift into commercial and industrial loans, and an increase in unfunded credit commitments.

Net loan charge-offs were $2.2 million and $2.9 million for the three and six months ended June 30, 2025, respectively, as compared to net loan charge-offs of $1.5 million and $1.8 million for the corresponding prior year periods and $636,000 for the linked quarter. The current and linked quarter includes charge-offs of $445,000 and $720,000 related to sales of non-performing residential and consumer loans of $2.2 million and $5.1 million, respectively. The current quarter includes $1.6 million of charge-offs related to two commercial relationships related to the Company's recent acquisition. The prior year includes the impact of a $1.6 million charge-off on a single commercial real estate relationship.

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**<u>Non-interest Income</u>**

*Three months ended June 30, 2025 vs. June 30, 2024*&nbsp;&nbsp;&nbsp;&nbsp;

Other income increased to $11.7 million, as compared to $11.0 million. Other income was favorably impacted by non-core operations related to net gains on equity investments of $488,000 in the current quarter, and $887,000 for the prior year quarter.

Excluding non-core operations, other income increased by $1.1 million. The primary drivers were increases related to net gain on sale of loans of $757,000 and non-recurring other income of $1.1 million, partly offset by a loss on other real estate operations of $260,000.

*Six months ended June 30, 2025 vs. June 30, 2024*

Other income decreased to $23.0 million, as compared to $23.3 million. Other income was favorably impacted by non-core operations of $693,000 related to net gains on equity investments in the current quarter. The prior year other income was favorably impacted by non-core operations of $4.0 million related to net gains on equity investments and sale of a portion of the Company's trust business.

Excluding non-core operations, other income increased by $3.0 million. The primary drivers were increases related to net gain on sale of loans of $1.3 million, commercial loan swap income of $448,000 and non-recurring other income of $1.9 million in the current period, partly offset by a loss on other real estate operations of $276,000.

*Three months ended June 30, 2025 vs. March 31, 2025*

Other income in the linked quarter was $11.3 million and was favorably impacted by non-core operations of $205,000 related to net gains on equity investments. Excluding non-core operations, other income increased by $197,000. The primary driver was non-recurring other income of $1.1 million as noted above, partly offset by non-recurring other income of $842,000 in the prior quarter and a decrease in commercial loan swap income of $413,000.

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**<u>Non-interest Expense</u>**

*Three months ended June 30, 2025 vs. June 30, 2024*

Operating expenses increased by $12.9 million to $71.5 million, as compared to $58.6 million. The primary driver was an increase in compensation and benefits of $7.1 million, mostly due to acquisitions at the end of the prior year, annual merit increases, and the additional commercial banking teams hired during the current quarter. Additional drivers were increases in professional fees of $2.2 million, primarily due to recruitment fees, other operating expenses of $1.9 million, mostly due to additional loan servicing expense, data processing expense of $790,000, partly due to acquisitions at the end of the prior year, and increased marketing spend of $366,000.

*Six months ended June 30, 2025 vs. June 30, 2024*

Operating expenses increased to $135.8 million, as compared to $117.3 million. Operating expenses were adversely impacted by non-core operations related to FDIC special assessment in the prior year of $418,000.

Excluding non-core operations, operating expenses increased by $18.9 million. The primary driver was an increase in compensation and benefits of $11.1 million, mostly due to acquisitions at the end of the prior year, annual merit increases, and the additional commercial banking team hires. Additional drivers were increases in other operating expenses of $2.9 million, mostly due to additional loan servicing expense, professional fees of $1.9 million, primarily due to the recruitment fees, data processing of $1.5 million, partly due to acquisitions at the end of the prior year, occupancy of $577,000, and marketing of $484,000.

*Three months ended June 30, 2025 vs. March 31, 2025*

Operating expenses increased by $7.2 million to $71.5 million, as compared to $64.3 million. The primary drivers were increases in compensation and benefits of $3.5 million due to additional banking team hires, partly offset by $1.3 million of normal incentive-related adjustments in the prior quarter, and professional fees of $1.9 million primarily due to recruitment of commercial bankers noted

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above. Additionally, other operating expense increased by $1.4 million, partly related to higher title costs.

**<u>Income Tax Expense</u>**

The provision for income taxes was $5.8 million and $12.6 million for the three and six months ended June 30, 2025, as compared to $7.1 million and $17.7 million for the same prior year periods and $6.8 million for the linked quarter. The effective tax rate was 23.2% and 23.7% for the three and six months ended June 30, 2025, as compared to 22.5% and 25.0% for the same prior year periods and 24.1% for the linked quarter. The effective tax rate for the six months ended June 30, 2024 was negatively impacted by 1.6% due to a non-recurring write-off of a deferred tax asset of $1.2 million.

**<u>Financial Condition</u>**

*June 30, 2025 vs. December 31, 2024*

Total assets decreased by $93.4 million to $13.33 billion, from $13.42 billion, primarily due to decreases in total debt securities. Debt securities available-for-sale decreased by $91.9 million to $735.6 million, from $827.5 million, primarily due to principal reductions, maturities and calls. Debt securities held-to-maturity decreased by $76.9 million to $969.0 million, from $1.05 billion, primarily due to principal repayments. Total loans increased by $67.0 million to $10.19 billion, from $10.12 billion, while the loan pipeline increased by $648.1 million to $954.8 million, from $306.7 million, primarily due to an increase in commercial loans of $593.3 million. Other assets decreased by $33.4 million to $152.3 million, from $185.7 million, primarily due to a decrease in market values associated with customer interest rate swap programs.

Total liabilities decreased by $34.3 million to $11.68 billion, from $11.72 billion primarily related to a funding mix-shift. Deposits increased by $166.1 million to $10.23 billion, from $10.07 billion, primarily due to an increase in time deposits. Time deposits increased to $2.30 billion, from $2.08 billion, representing 22.5% and 20.7% of total deposits, respectively. Time deposits included an increase in brokered time deposits of $448.1 million, partly offset by a decrease in retail time deposits

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of $229.4 million. The loan-to-deposit ratio was 99.5%, as compared to 100.5%. FHLB advances decreased by $133.9 million to $938.7 million, from $1.07 billion partly driven by a shift to slightly favorably priced brokered deposits.

Other liabilities decreased by $63.6 million to $234.8 million, from $298.4 million, primarily due to a decrease in the market values of derivatives associated with customer interest rate swaps and related collateral received from counterparties.

Capital levels remain strong and in excess of "well-capitalized" regulatory levels at June 30, 2025, including the Company's estimated common equity tier one capital ratio which declined to 11.0%, driven primarily by stock repurchases and increased lending commitments.

&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity decreased to $1.64 billion, as compared to $1.70 billion, primarily due to the redemption of preferred stock for $55.5 million and capital returns comprised of dividends and share repurchases, partially offset by net income. Additionally, accumulated other comprehensive loss decreased by $4.4 million primarily due to increases in the fair market value of available-for-sale debt securities, net of tax.

During the six months ended June 30, 2025, the Company repurchased 1,401,945 shares totaling $24.3 million representing a weighted average cost of $17.17. As of June 30, 2025, the Company had 226,284 shares available for repurchase under the authorized repurchase program. On July 16, 2025, the Company announced its Board of Directors authorized a 2025 Stock Repurchase Program to repurchase up to an additional 3.0 million shares.

The Company's tangible common equity<sup>2</sup> decreased by $1.7 million to $1.11 billion. The Company's stockholders' equity to assets ratio was 12.33% at June 30, 2025, and tangible common equity to tangible assets ratio increased by 5 basis points during the year to 8.67%, primarily due to the drivers described above.

<sup>2</sup> Tangible book value per common share and tangible common equity to tangible assets are non-GAAP financial measures and exclude the impact of intangible assets, goodwill, and preferred equity from both stockholders' equity and total assets. Refer to "Explanation of Non-GAAP Financial Measures" and the "Non-GAAP Reconciliation" tables for additional information regarding non-GAAP financial measures.

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Book value per common share decreased to $28.64, as compared to $29.08. Tangible book value per common share<sup>2</sup> increased to $19.34, as compared to $18.98.

**<u>Asset Quality</u>**

*June 30, 2025 vs. December 31, 2024*

The Company's non-performing loans decreased to $33.5 million, from $35.5 million, and represented 0.33% and 0.35% of total loans, respectively. The allowance for loan credit losses as a percentage of total non-performing loans was 236.54%, as compared to 207.19%. The level of 30 to 89 days delinquent loans decreased to $14.7 million, from $36.6 million, primarily related to residential loans. Criticized and classified loans and other real estate owned decreased to $153.3 million, from $159.9 million. The Company's allowance for loan credit losses was 0.78% of total loans, as compared to 0.73%. Refer to "Provision for Credit Losses" section for further discussion.

The Company's asset quality, excluding purchased with credit deterioration ("PCD") loans, was as follows. Non-performing loans decreased to $26.7 million, from $27.6 million. The allowance for loan credit losses as a percentage of total non-performing loans was 296.75%, as compared to 266.73%. The level of 30 to 89 days delinquent loans, excluding non-performing loans, decreased to $12.2 million, from $33.6 million.

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**<u>Explanation of Non-GAAP Financial Measures</u>**

&nbsp;&nbsp;&nbsp;&nbsp;Reported amounts are presented in accordance with GAAP. The Company's management believes that the supplemental non-GAAP information, which consists of reported net income excluding non-core operations and in some instances excluding income taxes and provision for credit losses, and reporting equity and asset amounts excluding intangible assets, goodwill or preferred stock, all of which can vary from period to period, provides a better comparison of period-to-period operating performance. Additionally, the Company believes this information is utilized by regulators and market analysts to evaluate a company's financial condition and, therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for financial results in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures, which may be presented by other companies. Refer to the Non-GAAP Reconciliation table at the end of this document for details on the earnings impact of these items.

**<u>Conference Call</u>**

&nbsp;&nbsp;&nbsp;&nbsp;As previously announced, the Company will host an earnings conference call on Friday, July 25, 2025 at 11:00 a.m. Eastern Time. The direct dial number for the call is (833) 470-1428, using the access code 170810. For those unable to participate in the conference call, a replay will be available. To access the replay, dial (866) 813-9403, from one hour after the end of the call until August 1, 2025. The conference call, as well as the replay, are also available (listen-only) by internet webcast at <u>www.oceanfirst.com</u> in the Investor Relations section.

\* \* \*

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&nbsp;&nbsp;&nbsp;&nbsp;OceanFirst Financial Corp.'s subsidiary, OceanFirst Bank N.A., founded in 1902, is a $13.3 billion regional bank providing financial services throughout New Jersey and in the major metropolitan areas between Massachusetts and Virginia. OceanFirst Bank delivers commercial and residential financing, treasury management, trust and asset management, and deposit services and is one of the largest and oldest community-based financial institutions headquartered in New Jersey. To learn more about OceanFirst, go to <u>www.oceanfirst.com</u>.

<u>Forward-Looking Statements</u>

&nbsp;&nbsp;&nbsp;&nbsp;

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, including 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 imposition of tariffs or other domestic or international governmental policies, and retaliatory responses, the level of prepayments on loans and mortgage-backed securities, legislative/regulatory changes, 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 investor sentiment and 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, failure to retain or attract employees, 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, 2024, 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.

------

**OceanFirst Financial Corp.**

**CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION**

(dollars in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **June 30,**<br>**2024** |
| | **(Unaudited)** | **(Unaudited)** | | **(Unaudited)** |
| **Assets** |  |  |  |  |
| Cash and due from banks | $170599 | $163721 | $123615 | $181198 |
| Debt securities available-for-sale, at estimated fair value | 735561 | 746168 | 827500 | 721484 |
| Debt securities held-to-maturity, net of allowance for securities credit losses of $809 at June 30, 2025, $898 at March 31, 2025, $967 at December 31, 2024 and $958 at June 30, 2024 (estimated fair value of $896,090 at June 30, 2025, $926,075 at March 31, 2025, $952,917 at December 31, 2024 and $1,003,850 at June 30, 2024) | 968969 | 1005476 | 1045875 | 1105843 |
| Equity investments | 87808 | 87365 | 84104 | 104132 |
| Restricted equity investments, at cost | 106538 | 102172 | 108634 | 92679 |
| Loans receivable, net of allowance for loan credit losses of $79,266 at June 30, 2025, $78,798 at March 31, 2025, $73,607 at December 31, 2024 and $68,839 at June 30, 2024 | 10119781 | 10058072 | 10055429 | 9961117 |
| Loans held-for-sale | 15744 | 9698 | 21211 | 2062 |
| Interest and dividends receivable | 44032 | 44843 | 45914 | 50976 |
| Other real estate owned | 7680 | 1917 | 1811 |  |
| Premises and equipment, net | 113474 | 114588 | 115256 | 117392 |
| Bank owned life insurance | 271184 | 269398 | 270208 | 267867 |
| Assets held-for-sale |  |  |  | 28 |
| Goodwill | 523308 | 523308 | 523308 | 506146 |
| Intangibles | 10834 | 11740 | 12680 | 7859 |
| Other assets | 152335 | 170812 | 185702 | 202972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $13327847 | $13309278 | $13421247 | $13321755 |
| **Liabilities and Stockholders' Equity** |  |  |  |  |
| Deposits | $10232442 | $10177023 | $10066342 | $9994017 |
| Federal Home Loan Bank advances | 938687 | 891021 | 1072611 | 789337 |
| Securities sold under agreements to repurchase with customers | 61490 | 65132 | 60567 | 80000 |
| Other borrowings | 198019 | 197808 | 197546 | 424490 |
| Advances by borrowers for taxes and insurance | 18759 | 28789 | 23031 | 25168 |
| Other liabilities | 234770 | 240388 | 298393 | 332074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 11684167 | 11600161 | 11718490 | 11645086 |
| Stockholders' equity: |  |  |  |  |
| OceanFirst Financial Corp. stockholders' equity | 1642846 | 1708322 | 1701650 | 1675885 |
| Non-controlling interest | 834 | 795 | 1107 | 784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 1643680 | 1709117 | 1702757 | 1676669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $13327847 | $13309278 | $13421247 | $13321755 |

---

------

**OceanFirst Financial Corp.**

**CONSOLIDATED STATEMENTS OF INCOME** 

(in thousands, except per share amounts)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **For the Three Months Ended,** | **For the Three Months Ended,** | **For the Three Months Ended,** | **For the Six Months Ended,** | **For the Six Months Ended,** |
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **June 30,**<br>**2024** | **June 30,**<br>**2025** | **June 30,**<br>**2024** |
| | **\|---------------------- (Unaudited) ----------------------\|** | **\|---------------------- (Unaudited) ----------------------\|** | **\|---------------------- (Unaudited) ----------------------\|** | **\|---------- (Unaudited) -----------\|** | **\|---------- (Unaudited) -----------\|** |
| **Interest income:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans | $135478 | $133019 | $136049 | $268497 | $273170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt securities | 15950 | 17270 | 19039 | 33220 | 38900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity investments and other | 3397 | 3414 | 4338 | 6811 | 8958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest income | 154825 | 153703 | 159426 | 308528 | 321028 |
| **Interest expense:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits | 52273 | 51046 | 60071 | 103319 | 119926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrowed funds | 14916 | 16005 | 17092 | 30921 | 32615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 67189 | 67051 | 77163 | 134240 | 152541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 87636 | 86652 | 82263 | 174288 | 168487 |
| Provision for credit losses | 3039 | 5340 | 3114 | 8379 | 3705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income after provision for credit losses | 84597 | 81312 | 79149 | 165909 | 164782 |
| **Other income (loss):** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bankcard services revenue | 1619 | 1463 | 1571 | 3082 | 2987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trust and asset management revenue | 374 | 406 | 419 | 780 | 945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees and service charges | 4969 | 4712 | 5015 | 9681 | 9488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gain on sales of loans | 1177 | 858 | 420 | 2035 | 777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gain on equity investments | 488 | 205 | 887 | 693 | 2810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loss from other real estate operations | (260) | (16) |  | (276) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from bank owned life insurance | 1786 | 1852 | 1726 | 3638 | 3588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial loan swap income | 207 | 620 | 241 | 827 | 379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 1373 | 1153 | 706 | 2526 | 2297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other income | 11733 | 11253 | 10985 | 22986 | 23271 |
| **Operating expenses:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compensation and employee benefits | 40242 | 36740 | 33136 | 76982 | 65895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Occupancy | 5454 | 5497 | 5175 | 10951 | 10374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equipment | 869 | 921 | 1068 | 1790 | 2198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing | 1541 | 1108 | 1175 | 2649 | 2165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal deposit insurance and regulatory assessments | 2898 | 2983 | 2685 | 5881 | 5820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Data processing | 6808 | 6647 | 6018 | 13455 | 11974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check card processing | 1156 | 1170 | 1075 | 2326 | 2125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Professional fees | 4336 | 2425 | 2161 | 6761 | 4893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangibles | 906 | 940 | 810 | 1846 | 1654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other operating expenses | 7264 | 5863 | 5317 | 13127 | 10194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 71474 | 64294 | 58620 | 135768 | 117292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income before provision for income taxes | 24856 | 28271 | 31514 | 53127 | 70761 |
| Provision for income taxes | 5771 | 6808 | 7082 | 12579 | 17719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income | 19085 | 21463 | 24432 | 40548 | 53042 |
| Net income (loss) attributable to non-controlling interest | 39 | (46) | 59 | (7) | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income attributable to OceanFirst Financial Corp. | 19046 | 21509 | 24373 | 40555 | 53040 |
| Dividends on preferred shares | 1004 | 1004 | 1004 | 2008 | 2008 |
| Loss on redemption of preferred stock | 1842 |  |  | 1842 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income available to common stockholders | $16200 | $20505 | $23369 | $36705 | $51032 |
| Basic earnings per share | $0.28 | $0.35 | $0.40 | $0.63 | $0.87 |
| Diluted earnings per share | $0.28 | $0.35 | $0.40 | $0.63 | $0.87 |
| Average basic shares outstanding | 57738 | 58102 | 58356 | 57889 | 58489 |
| Average diluted shares outstanding | 57740 | 58111 | 58357 | 57891 | 58490 |

---

------

**OceanFirst Financial Corp.**

**SELECTED LOAN AND DEPOSIT DATA**

(dollars in thousands)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **<u>LOANS RECEIVABLE</u>** | | **At** | **At** | **At** | **At** | **At** |
| | | **June 30,** | **March 31,** | **December 31,** | **September 30,** | **June 30,** |
|  |  | **2025** | **2025** | **2024** | **2024** | **2024** |
| Commercial: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate - investor |  | $5068125 | $5200137 | $5287683 | $5273159 | $5324994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial - real estate  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial - real estate  | 914406 | 896647 | 902219 | 841930 | 857710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial - non-real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial - non-real estate | 862504 | 748575 | 647945 | 660879 | 616400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial and industrial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial and industrial | 1776910 | 1645222 | 1550164 | 1502809 | 1474110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 6845035 | 6845359 | 6837847 | 6775968 | 6799104 |
| Consumer: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential real estate |  | 3119232 | 3053318 | 3049763 | 3003213 | 2977698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home equity loans and lines and other consumer ("other consumer") | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home equity loans and lines and other consumer ("other consumer") | 220820 | 226633 | 230462 | 242975 | 242526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | 3340052 | 3279951 | 3280225 | 3246188 | 3220224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | 10185087 | 10125310 | 10118072 | 10022156 | 10019328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred origination costs (fees), net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred origination costs (fees), net | 13960 | 11560 | 10964 | 10508 | 10628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allowance for loan credit losses |  | (79266) | (78798) | (73607) | (69066) | (68839) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans receivable, net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans receivable, net | $10119781 | $10058072 | $10055429 | $9963598 | $9961117 |
| Mortgage loans serviced for others | Mortgage loans serviced for others | $288211 | $222963 | $191279 | $142394 | $104136 |
|  | At June 30, 2025 Average Yield |  |  |  |  |  |
| Loan pipeline <sup>(1)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial | 6.98% | $790768 | $375622 | $197491 | $199818 | $166206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential real estate | 6.51 | 146921 | 116121 | 97385 | 137978 | 80330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other consumer | 8.51 | 17110 | 12681 | 11783 | 13788 | 12586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 6.94% | $954799 | $504424 | $306659 | $351584 | $259122 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** |
| | **June 30,** | **June 30,** | | | | |
| | **2025** | **2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **September 30,**<br>**2024** | **June 30,**<br>**2024** |
| | Average Yield | | | | | |
| Loan originations: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial <sup>(2)</sup> | 7.14% | $425877 | $233968 | $268613 | $245886 | $56053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential real estate | 6.37 | 274314 | 167162 | 235370 | 169273 | 121388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other consumer | 8.52 | 15813 | 15825 | 11204 | 15760 | 16970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 6.88% | $716004 | $416955 | $515187 | $430919 | $194411 |
| Loans sold <sup>(3)</sup> |  | $142431 | $104991 | $127508 | $65296 | $45045 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1)Loan pipeline includes loans approved but not funded.

&nbsp;&nbsp;&nbsp;&nbsp;(2)Excludes commercial loan pool purchases of $24.3 million and $76.1 million for the three months ended March 31, 2025 and December 31, 2024, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(3)Excludes sale of non-performing residential and consumer loans of $2.2 million and $5.1 million for the three months ended June 30, 2025 and March 31, 2025, respectively.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **<u>DEPOSITS</u>** | **At** | **At** | **At** | **At** | **At** |
| | **June 30,** | **March 31,** | **December 31,** | **September 30,** | **June 30,** |
|  | **2025** | **2025** | **2024** | **2024** | **2024** |
| **Type of Account** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-interest-bearing | $1686627 | $1660738 | $1617182 | $1638447 | $1632521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing checking | 3845602 | 4006653 | 4000553 | 3896348 | 3667837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money market | 1377999 | 1337570 | 1301197 | 1288555 | 1210312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Savings | 1022918 | 1052504 | 1066438 | 1071946 | 1115688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time deposits <sup>(1)</sup> | 2299296 | 2119558 | 2080972 | 2220871 | 2367659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total deposits | $10232442 | $10177023 | $10066342 | $10116167 | $9994017 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1)Includes brokered time deposits of $522.8 million, $370.5 million, $74.7 million, $201.0 million, and $401.6 million at June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024, and June 30, 2024, respectively.

------

**OceanFirst Financial Corp.**

**ASSET QUALITY**

(dollars in thousands)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **<u>ASSET QUALITY</u>** <sup>(1)</sup> | **June 30,** | **March 31,** | **December 31,** | **September 30,** | **June 30,** |
| **<u>ASSET QUALITY</u>** <sup>(1)</sup> | **2025** | **2025** | **2024** | **2024** | **2024** |
| Non-performing loans: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate - investor | $20457 | $23595 | $17000 | $12478 | $19761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial - real estate | 4499 | 4690 | 4787 | 4368 | 4081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial - non-real estate | 311 | 22 | 32 | 122 | 434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial and industrial | 4810 | 4712 | 4819 | 4490 | 4515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential real estate | 5318 | 5709 | 10644 | 9108 | 7213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other consumer | 2926 | 2954 | 3064 | 2063 | 1933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-performing loans <sup>(1)</sup> | $33511 | $36970 | $35527 | $28139 | $33422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other real estate owned | 7680 | 1917 | 1811 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-performing assets  | $41191 | $38887 | $37338 | $28139 | $33422 |
| Delinquent loans 30 to 89 days | $14740 | $46246 | $36550 | $15458 | $9655 |
| Modifications to borrowers experiencing financial difficulty <sup>(2)</sup> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-performing (included in total non-performing loans above) | $8129 | $8307 | $3232 | $3043 | $3210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performing | 31986 | 27592 | 27631 | 20652 | 20529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total modifications to borrowers experiencing financial difficulty <sup>(2)</sup> | $40115 | $35899 | $30863 | $23695 | $23739 |
| Allowance for loan credit losses | $79266 | $78798 | $73607 | $69066 | $68839 |
| Allowance for loan credit losses as a percent of total loans receivable <sup>(3)</sup> | 0.78% | 0.78% | 0.73% | 0.69% | 0.69% |
| Allowance for loan credit losses as a percent of total non-performing loans <sup>(3)</sup> | 236.54 | 213.14 | 207.19 | 245.45 | 205.97 |
| Non-performing loans as a percent of total loans receivable | 0.33 | 0.37 | 0.35 | 0.28 | 0.33 |
| Non-performing assets as a percent of total assets | 0.31 | 0.29 | 0.28 | 0.21 | 0.25 |
| **Supplemental PCD and non-performing loans** |  |  |  |  |  |
| PCD loans, net of allowance for loan credit losses | $20934 | $21737 | $22006 | $15323 | $16058 |
| Non-performing PCD loans | 6800 | 7724 | 7931 | 2887 | 2841 |
| Delinquent PCD and non-performing loans 30 to 89 days | 2590 | 10489 | 2997 | 1279 | 1188 |
| PCD modifications to borrowers experiencing financial difficulty <sup>(2)</sup> | 20 | 22 | 23 | 24 | 26 |
| **Asset quality, excluding PCD loans** |  |  |  |  |  |
| Non-performing loans <sup>(1)</sup> | 26711 | 29246 | 27596 | 25252 | 30581 |
| Non-performing assets  | 34391 | 31163 | 29407 | 25252 | 30581 |
| Delinquent loans 30 to 89 days (excludes non-performing loans)  | 12150 | 35757 | 33553 | 14179 | 8467 |
| Modifications to borrowers experiencing financial difficulty <sup>(2)</sup> | 40095 | 35877 | 30840 | 23671 | 23713 |
| Allowance for loan credit losses as a percent of total non-performing loans <sup>(3)</sup> | 296.75% | 269.43% | 266.73% | 273.51% | 225.10% |
| Non-performing loans as a percent of total loans receivable  | 0.26 | 0.29 | 0.27 | 0.25 | 0.31 |
| Non-performing assets as a percent of total assets | 0.26 | 0.23 | 0.22 | 0.19 | 0.23 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1)The quarters ended June 30, 2025 and March 31, 2025 included the sale of non-performing residential and consumer loans of $2.2 million and $5.1 million, respectively, and the quarter ended September 30, 2024 included the resolution of a single commercial relationship exposure of $7.2 million.

&nbsp;&nbsp;&nbsp;&nbsp;(2)Balances represent only modifications to borrowers experiencing financial difficulty, in accordance with ASU 2022-02 adopted on January 1, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;(3)Loans acquired from acquisitions were recorded at fair value. The net unamortized credit and PCD marks on these loans, not reflected in the allowance for loan credit losses, was $5.0 million, $5.6 million, $6.0 million, $5.7 million and $6.1 million at June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024, and June 30, 2024, respectively.

------

(continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **<u>NET LOAN (CHARGE-OFFS) RECOVERIES</u>** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** |
| | **June 30,** | | **March 31,** | **December 31,** | **September 30,** | **June 30,** |
|  | **2025** |  | **2025** | **2024** | **2024** | **2024** |
| Net loan (charge-offs) recoveries: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loan charge-offs | $(2415) |  | $(798) | $(55) | $(124) | $(1600) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recoveries on loans | 197 |  | 162 | 213 | 212 | 148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loan (charge-offs) recoveries | $(2218) |  | $(636) | $158 | $88 | $(1452) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loan (charge-offs) recoveries to average total loans (annualized) | 0.09% |  | 0.03% | NM\* | NM\* | 0.06% |
| Net loan (charge-offs) recoveries detail: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial <sup>(1)</sup> | $(1666) | (3) | $25 | $92 | $129 | $(1576) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential real estate <sup>(2)</sup> | (348) |  | (720) | (17) | (6) | 87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other consumer <sup>(2)</sup> | (204) |  | 59 | 83 | (35) | 37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loan (charge-offs) recoveries | $(2218) |  | $(636) | $158 | $88 | $(1452) |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1)The three months ended June 30, 2025 and June 30, 2024 included charge-offs related to two commercial relationships of $1.6 million and a single commercial real estate relationship of $1.6 million, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(2)The three months ended June 30, 2025 and March 31, 2025 included charge-offs of $445,000 and $720,000, respectively, related to the sale of non-performing residential and consumer loans.

\* Not meaningful as amounts are net loan recoveries.

------

**OceanFirst Financial Corp.**

**ANALYSIS OF NET INTEREST INCOME**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** |
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **March 31, 2025** | **March 31, 2025** | **March 31, 2025** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| **(dollars in thousands)** | **Average<br>Balance** | **Interest** | **Average**<br>**Yield/**<br>**Cost** <sup>(1)</sup> | **Average<br>Balance** | **Interest** | **Average**<br>**Yield/**<br>**Cost** <sup>(1)</sup> | **Average<br>Balance** | **Interest** | **Average**<br>**Yield/**<br>**Cost** <sup>(1)</sup> |
| **Assets:** | | | | | | | | | |
| Interest-earning assets: |  |  |  |  |  |  |  |  |  |
| Interest-earning deposits and short-term investments | $111631 | $1090 | 3.92% | $95439 | $983 | 4.18% | $132574 | $1770 | 5.37% |
| Securities <sup>(2)</sup> | 1917114 | 18257 | 3.82 | 2003206 | 19701 | 3.99 | 2058711 | 21607 | 4.22 |
| Loans receivable, net <sup>(3)</sup> |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial | 6786611 | 100004 | 5.91 | 6781005 | 98260 | 5.88 | 6845988 | 102620 | 6.03 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential real estate | 3091227 | 31861 | 4.12 | 3065679 | 31270 | 4.08 | 2978749 | 29072 | 3.90 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other consumer | 225311 | 3613 | 6.43 | 228553 | 3489 | 6.19 | 246024 | 4357 | 7.12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allowance for loan credit losses, net of deferred loan costs and fees | (66364) |  |  | (61854) |  |  | (58270) |  |  |
| Loans receivable, net | 10036785 | 135478 | 5.41 | 10013383 | 133019 | 5.37 | 10012491 | 136049 | 5.46 |
| Total interest-earning assets | 12065530 | 154825 | 5.14 | 12112028 | 153703 | 5.13 | 12203776 | 159426 | 5.25 |
| Non-interest-earning assets | 1182543 |  |  | 1199865 |  |  | 1237442 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $13248073 |  |  | $13311893 |  |  | $13441218 |  |  |
| **Liabilities and Stockholders' Equity:** |  |  |  |  |  |  |  |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing checking | $3990602 | 20605 | 2.07% | $4135952 | 21433 | 2.10% | $3862060 | 21043 | 2.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money market | 1342194 | 9718 | 2.90 | 1322003 | 9353 | 2.87 | 1183429 | 10482 | 3.56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Savings | 1029490 | 1680 | 0.65 | 1058015 | 1785 | 0.68 | 1164203 | 2604 | 0.90 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 2175564 | 20270 | 3.74 | 1916109 | 18475 | 3.91 | 2337458 | 25942 | 4.46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 8537850 | 52273 | 2.46 | 8432079 | 51046 | 2.46 | 8547150 | 60071 | 2.83 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FHLB Advances | 880746 | 9933 | 4.52 | 996293 | 11359 | 4.62 | 711801 | 8746 | 4.94 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities sold under agreements to repurchase | 60477 | 419 | 2.78 | 64314 | 428 | 2.70 | 72305 | 478 | 2.66 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other borrowings | 260655 | 4564 | 7.02 | 283150 | 4218 | 6.04 | 541266 | 7868 | 5.85 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total borrowings | 1201878 | 14916 | 4.98 | 1343757 | 16005 | 4.83 | 1325372 | 17092 | 5.19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 9739728 | 67189 | 2.77 | 9775836 | 67051 | 2.78 | 9872522 | 77163 | 3.14 |
| Non-interest-bearing deposits | 1639045 |  |  | 1597972 |  |  | 1626165 |  |  |
| Non-interest-bearing liabilities | 186653 |  |  | 222951 |  |  | 268078 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 11565426 |  |  | 11596759 |  |  | 11766765 |  |  |
| Stockholders' equity | 1682647 |  |  | 1715134 |  |  | 1674453 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $13248073 |  |  | $13311893 |  |  | $13441218 |  |  |
| Net interest income |  | $87636 |  |  | $86652 |  |  | $82263 |  |
| Net interest rate spread <sup>(4)</sup> |  |  | 2.37% |  |  | 2.35% |  |  | 2.11% |
| Net interest margin <sup>(5)</sup> |  |  | 2.91% |  |  | 2.90% |  |  | 2.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total cost of deposits (including non-interest-bearing deposits) |  |  | 2.06% |  |  | 2.06% |  |  | 2.37% |

---

------

(continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **For the Six Months Ended June 30,** | **For the Six Months Ended June 30,** | **For the Six Months Ended June 30,** | **For the Six Months Ended June 30,** | **For the Six Months Ended June 30,** | **For the Six Months Ended June 30,** |
| | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
| **(dollars in thousands)** | **Average<br>Balance** | **Interest** | **Average**<br>**Yield/**<br>**Cost** <sup>(1)</sup> | **Average<br>Balance** | **Interest** | **Average**<br>**Yield/**<br>**Cost** <sup>(1)</sup> |
| **Assets:** |  |  |  |  |  |  |
| Interest-earning assets: |  |  |  |  |  |  |
| Interest-earning deposits and short-term investments | $106230 | $2073 | 3.94% | $147883 | $3995 | 5.43% |
| Securities <sup>(2)</sup> | 1959922 | 37958 | 3.91 | 2078566 | 43863 | 4.24 |
| Loans receivable, net <sup>(3)</sup> |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial | 6783823 | 198265 | 5.89 | 6885518 | 207041 | 6.05 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential real estate | 3078524 | 63131 | 4.10 | 2976608 | 57668 | 3.87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other consumer | 226923 | 7101 | 6.31 | 247210 | 8461 | 6.88 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allowance for loan credit losses, net of deferred loan costs and fees | (64121) |  |  | (58705) |  |  |
| Loans receivable, net | 10025149 | 268497 | 5.39 | 10050631 | 273170 | 5.46 |
| Total interest-earning assets | 12091301 | 308528 | 5.14 | 12277080 | 321028 | 5.25 |
| Non-interest-earning assets | 1188506 |  |  | 1221889 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $13279807 |  |  | $13498969 |  |  |
| **Liabilities and Stockholders' Equity:** |  |  |  |  |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing checking | $4062502 | 42039 | 2.09% | $3894013 | 41838 | 2.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money market | 1332154 | 19070 | 2.89 | 1137716 | 19653 | 3.47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Savings | 1043674 | 3465 | 0.67 | 1259960 | 7066 | 1.13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 2046927 | 38745 | 3.82 | 2375760 | 51369 | 4.35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 8485257 | 103319 | 2.46 | 8667449 | 119926 | 2.78 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FHLB Advances | 938200 | 21293 | 4.58 | 678309 | 16517 | 4.90 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities sold under agreements to repurchase | 62385 | 846 | 2.73 | 70403 | 889 | 2.54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other borrowings | 271840 | 8782 | 6.51 | 521084 | 15209 | 5.87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total borrowings | 1272425 | 30921 | 4.90 | 1269796 | 32615 | 5.17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 9757682 | 134240 | 2.77 | 9937245 | 152541 | 3.09 |
| Non-interest-bearing deposits | 1618622 |  |  | 1630374 |  |  |
| Non-interest-bearing liabilities | 204702 |  |  | 257603 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 11581006 |  |  | 11825222 |  |  |
| Stockholders' equity | 1698801 |  |  | 1673747 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $13279807 |  |  | $13498969 |  |  |
| Net interest income |  | $174288 |  |  | $168487 |  |
| Net interest rate spread <sup>(4)</sup> |  |  | 2.37% |  |  | 2.16% |
| Net interest margin <sup>(5)</sup> |  |  | 2.91% |  |  | 2.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total cost of deposits (including non-interest-bearing deposits) |  |  | 2.06% |  |  | 2.34% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;Average yields and costs are annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;Amounts represent debt and equity securities, including FHLB and Federal Reserve Bank stock, and are recorded at average amortized cost, net of allowance for securities credit losses.

&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;Amount is net of deferred loan costs and fees, undisbursed loan funds, discounts and premiums and allowance for loan credit losses, and includes loans held-for-sale and non-performing loans.

&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;&nbsp;Net interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;&nbsp;Net interest margin represents net interest income divided by average interest-earning assets.

------

**OceanFirst Financial Corp.**

**SELECTED QUARTERLY FINANCIAL DATA**

(in thousands, except per share amounts)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **September 30,**<br>**2024** | **June 30,**<br>**2024** |
| **Selected Financial Condition Data:** |  |  |  |  |  |
| Total assets | $13327847 | $13309278 | $13421247 | $13488483 | $13321755 |
| Debt securities available-for-sale, at estimated fair value | 735561 | 746168 | 827500 | 911753 | 721484 |
| Debt securities held-to-maturity, net of allowance for securities credit losses | 968969 | 1005476 | 1045875 | 1075131 | 1105843 |
| Equity investments | 87808 | 87365 | 84104 | 95688 | 104132 |
| Restricted equity investments, at cost | 106538 | 102172 | 108634 | 98545 | 92679 |
| Loans receivable, net of allowance for loan credit losses | 10119781 | 10058072 | 10055429 | 9963598 | 9961117 |
| Deposits | 10232442 | 10177023 | 10066342 | 10116167 | 9994017 |
| Federal Home Loan Bank advances | 938687 | 891021 | 1072611 | 891860 | 789337 |
| Securities sold under agreements to repurchase from customers and other borrowings | 259509 | 262940 | 258113 | 501090 | 504490 |
| Total stockholders' equity | 1643680 | 1709117 | 1702757 | 1694508 | 1676669 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **For the Three Months Ended,** | **For the Three Months Ended,** | **For the Three Months Ended,** | **For the Three Months Ended,** | **For the Three Months Ended,** |
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **September 30,**<br>**2024** | **June 30,**<br>**2024** |
| **Selected Operating Data:** |  |  |  |  |  |
| Interest income | $154825 | $153703 | $159620 | $161525 | $159426 |
| Interest expense | 67189 | 67051 | 76291 | 79306 | 77163 |
| Net interest income | 87636 | 86652 | 83329 | 82219 | 82263 |
| Provision for credit losses (excluding Spring Garden) | 3039 | 5340 | 2041 | 517 | 3114 |
| Spring Garden opening provision for credit losses |  |  | 1426 |  |  |
| Net interest income after provision for credit losses | 84597 | 81312 | 79862 | 81702 | 79149 |
| Other income (excluding equity investments and sale of trust) | 11245 | 11048 | 12237 | 11826 | 10098 |
| Net gain (loss) on equity investments | 488 | 205 | (5) | 1420 | 887 |
| Net gain on sale of trust business |  |  |  | 1438 |  |
| Operating expenses (excluding merger related expenses) | 71474 | 64294 | 64739 | 62067 | 58620 |
| Merger related expenses |  |  | 110 | 1669 |  |
| Income before provision for income taxes | 24856 | 28271 | 27245 | 32650 | 31514 |
| Provision for income taxes | 5771 | 6808 | 5083 | 7464 | 7082 |
| Net income | 19085 | 21463 | 22162 | 25186 | 24432 |
| Net income (loss) attributable to non-controlling interest | 39 | (46) | 253 | 70 | 59 |
| Net income attributable to OceanFirst Financial Corp. | $19046 | $21509 | $21909 | $25116 | $24373 |
| Net income available to common stockholders | $16200 | $20505 | $20905 | $24112 | $23369 |
| Diluted earnings per share | $0.28 | $0.35 | $0.36 | $0.42 | $0.40 |
| Net accretion/amortization of purchase accounting adjustments included in net interest income | $420 | $219 | $20 | $741 | $1086 |

---

------

(continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **At or For the Three Months Ended** | **At or For the Three Months Ended** | **At or For the Three Months Ended** | **At or For the Three Months Ended** | **At or For the Three Months Ended** |
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **September 30,**<br>**2024** | **June 30,**<br>**2024** |
| **Selected Financial Ratios and Other Data**<sup>(1) (2)</sup>**:** |  |  |  |  |  |
| **Performance Ratios (Annualized):** |  |  |  |  |  |
| Return on average assets <sup>(3)</sup> | 0.49% | 0.62% | 0.61% | 0.71% | 0.70% |
| Return on average tangible assets <sup>(3) (4)</sup> | 0.51 | 0.65 | 0.64 | 0.74 | 0.73 |
| Return on average stockholders' equity <sup>(3)</sup> | 3.86 | 4.85 | 4.88 | 5.68 | 5.61 |
| Return on average tangible stockholders' equity <sup>(3) (4)</sup> | 5.66 | 7.05 | 7.12 | 8.16 | 8.10 |
| Return on average tangible common equity <sup>(3) (4)</sup> | 5.66 | 7.40 | 7.47 | 8.57 | 8.51 |
| Stockholders' equity to total assets | 12.33 | 12.84 | 12.69 | 12.56 | 12.59 |
| Tangible stockholders' equity to tangible assets <sup>(4)</sup>  | 8.67 | 9.19 | 9.06 | 9.10 | 9.08 |
| Tangible common equity to tangible assets <sup>(4)</sup>  | 8.67 | 8.76 | 8.62 | 8.68 | 8.64 |
| Net interest rate spread | 2.37 | 2.35 | 2.11 | 2.06 | 2.11 |
| Net interest margin | 2.91 | 2.90 | 2.69 | 2.67 | 2.71 |
| Operating expenses to average assets | 2.16 | 1.96 | 1.90 | 1.89 | 1.75 |
| Efficiency ratio <sup>(5)</sup> | 71.93 | 65.67 | 67.86 | 65.77 | 62.86 |
| Loan-to-deposit ratio | 99.50 | 99.50 | 100.50 | 99.10 | 100.30 |

---

---

| | | |
|:---|:---|:---|
| | **For the Six Months Ended June 30,** | **For the Six Months Ended June 30,** |
| | **2025** | **2024** |
| **Performance Ratios (Annualized):** |  |  |
| Return on average assets <sup>(3)</sup> | 0.56% | 0.76% |
| Return on average tangible assets <sup>(3) (4)</sup> | 0.58 | 0.79 |
| Return on average stockholders' equity <sup>(3)</sup>  | 4.36 | 6.13 |
| Return on average tangible stockholders' equity <sup>(3) (4)</sup>  | 6.36 | 8.86 |
| Return on average tangible common equity <sup>(3) (4)</sup>  | 6.36 | 9.30 |
| Net interest rate spread | 2.37 | 2.16 |
| Net interest margin | 2.91 | 2.76 |
| Operating expenses to average assets | 2.06 | 1.75 |
| Efficiency ratio <sup>(5)</sup> | 68.82 | 61.17 |

---

------

(continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **At or For the Three Months Ended** | **At or For the Three Months Ended** | **At or For the Three Months Ended** | **At or For the Three Months Ended** | **At or For the Three Months Ended** |
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **September 30,**<br>**2024** | **June 30,**<br>**2024** |
| **Trust and Asset Management:** |  |  |  |  |  |
| Wealth assets under administration and management ("AUA/M") | $141921 | $149106 | $147956 | $152797 | $150519 |
| Nest Egg AUA/M | 462664 | 453803 | 431434 | 430413 | 403647 |
| Total AUA/M | 604585 | 602909 | 579390 | 583210 | 554166 |
| **Per Share Data:** |  |  |  |  |  |
| Cash dividends per common share | $0.20 | $0.20 | $0.20 | $0.20 | $0.20 |
| Book value per common share at end of period | 28.64 | 29.27 | 29.08 | 29.02 | 28.67 |
| Tangible book value per common share at end of period <sup>(4)</sup>  | 19.34 | 19.16 | 18.98 | 19.28 | 18.93 |
| Common shares outstanding at end of period | 57383975 | 58383525 | 58554871 | 58397094 | 58481418 |
| Preferred shares outstanding at end of period |  | 57370 | 57370 | 57370 | 57370 |
| Number of full-service customer facilities: | 40 | 39 | 39 | 39 | 39 |
| **Quarterly Average Balances** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities | $1917114 | $2003206 | $2116911 | $2063633 | $2058711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans receivable, net | 10036785 | 10013383 | 10018742 | 9958794 | 10012491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | 12065530 | 12112028 | 12331483 | 12232672 | 12203776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total goodwill and intangibles | 534734 | 535657 | 534942 | 513731 | 514535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 13248073 | 13311893 | 13545052 | 13438696 | 13441218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 2175564 | 1916109 | 2212750 | 2339370 | 2337458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits (including non-interest-bearing deposits) | 10176895 | 10030051 | 10286489 | 10175856 | 10173315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total borrowings | 1201878 | 1343757 | 1328016 | 1333245 | 1325372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 9739728 | 9775836 | 9987129 | 9874358 | 9872522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-interest bearing deposits | 1639045 | 1597972 | 1627376 | 1634743 | 1626165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stockholders' equity | 1682647 | 1715134 | 1703326 | 1689035 | 1674453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tangible stockholders' equity <sup>(4)</sup> | 1147913 | 1179477 | 1168384 | 1175304 | 1159918 |
| **Quarterly Yields and Costs** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities | 3.82% | 3.99% | 4.09% | 4.23% | 4.22% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans receivable, net | 5.41 | 5.37 | 5.38 | 5.46 | 5.46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | 5.14 | 5.13 | 5.15 | 5.26 | 5.25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 3.74 | 3.91 | 4.34 | 4.58 | 4.46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total cost of deposits (including non-interest-bearing deposits) | 2.06 | 2.06 | 2.32 | 2.44 | 2.37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total borrowed funds | 4.98 | 4.83 | 4.91 | 5.07 | 5.19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 2.77 | 2.78 | 3.04 | 3.20 | 3.14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest spread | 2.37 | 2.35 | 2.11 | 2.06 | 2.11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest margin | 2.91 | 2.90 | 2.69 | 2.67 | 2.71 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;With the exception of end of quarter ratios, all ratios are based on average daily balances.

&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;Performance ratios for each period are presented on a GAAP basis and include non-core operations. Refer to "Non-GAAP Reconciliation."

&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;Ratios for each period are based on net income available to common stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;&nbsp;Tangible stockholders' equity and tangible assets exclude goodwill and other intangibles. Tangible common equity (also referred to as "tangible book value") excludes goodwill, intangibles and preferred equity. Refer to "Non-GAAP Reconciliation."

&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;&nbsp;Efficiency ratio represents the ratio of operating expenses to the aggregate of other income and net interest income.

------

**OceanFirst Financial Corp.**

**OTHER ITEMS** 

(dollars in thousands, except per share amounts)

**<u>NON-GAAP RECONCILIATION</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** |
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **September 30,**<br>**2024** | **June 30,**<br>**2024** |
| **Core Earnings:** |  |  |  |  |  |
| Net income available to common stockholders **(GAAP)** | $16200 | $20505 | $20905 | $24112 | $23369 |
| Adjustments to exclude the impact of non-recurring and non-core items: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spring Garden opening provision for credit losses |  |  | 1426 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net (gain) loss on equity investments | (488) | (205) | 5 | (1420) | (887) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gain on sale of trust business |  |  |  | (1438) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merger related expenses |  |  | 110 | 1669 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income tax expense (benefit) on items | 115 | 49 | (388) | 270 | 188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on redemption of preferred stock | 1842 |  |  |  |  |
| Core earnings **(Non-GAAP)** | $17669 | $20349 | $22058 | $23193 | $22670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income tax expense | $5771 | $6808 | $5083 | $7464 | $7082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 3039 | 5340 | 3467 | 517 | 3114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: non-core provision for credit losses |  |  | 1426 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: income tax expense (benefit) on non-core items | 115 | 49 | (388) | 270 | 188 |
| Core earnings PTPP **(Non-GAAP)** | $26364 | $32448 | $29570 | $30904 | $32678 |
| Core earnings diluted earnings per share | $0.31 | $0.35 | $0.38 | $0.39 | $0.39 |
| Core earnings PTPP diluted earnings per share | $0.46 | $0.56 | $0.51 | $0.53 | $0.56 |
| **Core Ratios (Annualized):** |  |  |  |  |  |
| Return on average assets | 0.53% | 0.62% | 0.65% | 0.69% | 0.68% |
| Return on average tangible stockholders' equity | 6.17 | 7.00 | 7.51 | 7.85 | 7.86 |
| Return on average tangible common equity | 6.17 | 7.34 | 7.89 | 8.24 | 8.26 |
| Efficiency ratio | 72.28 | 65.81 | 67.74 | 66.00 | 63.47 |

---

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(continued)

---

| | | |
|:---|:---|:---|
| | **For the Six Months Ended June 30,** | **For the Six Months Ended June 30,** |
| | **2025** | **2024** |
| **Core Earnings:** |  |  |
| Net income available to common stockholders **(GAAP)** | $36705 | $51032 |
| Adjustments to exclude the impact of non-recurring and non-core items: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gain on equity investments<sup>(1)</sup> | (693) | (2810) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gain on sale of trust business |  | (1162) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FDIC special assessment |  | 418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income tax expense on items | 164 | 830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on redemption of preferred stock | 1842 |  |
| Core earnings **(Non-GAAP)** | $38018 | $48308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income tax expense | $12579 | $17719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 8379 | 3705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: income tax expense on non-core items | 164 | 830 |
| Core earnings PTPP **(Non-GAAP)** | $58812 | $68902 |
| Core diluted earnings per share | $0.66 | $0.83 |
| Core earnings PTPP diluted earnings per share | $1.02 | $1.18 |
| **Core Ratios (Annualized):** |  |  |
| Return on average assets | 0.58% | 0.72% |
| Return on average tangible stockholders' equity | 6.59 | 8.38 |
| Return on average tangible common equity | 6.59 | 8.81 |
| Efficiency ratio | 69.06 | 62.24 |

---

------

(continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **September 30,**<br>**2024** | **June 30,**<br>**2024** |
| **Tangible Equity:** |  |  |  |  |  |
| Total stockholders' equity | $1643680 | $1709117 | $1702757 | $1694508 | $1676669 |
| Less: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 523308 | 523308 | 523308 | 506146 | 506146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intangibles | 10834 | 11740 | 12680 | 7056 | 7859 |
| Tangible stockholders' equity | 1109538 | 1174069 | 1166769 | 1181306 | 1162664 |
| Less: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock |  | 55527 | 55527 | 55527 | 55527 |
| Tangible common equity | $1109538 | $1118542 | $1111242 | $1125779 | $1107137 |
| **Tangible Assets:** |  |  |  |  |  |
| Total assets | $13327847 | $13309278 | $13421247 | $13488483 | $13321755 |
| Less: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 523308 | 523308 | 523308 | 506146 | 506146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intangibles | 10834 | 11740 | 12680 | 7056 | 7859 |
| Tangible assets | $12793705 | $12774230 | $12885259 | $12975281 | $12807750 |
| Tangible stockholders' equity to tangible assets | 8.67% | 9.19% | 9.06% | 9.10% | 9.08% |
| Tangible common equity to tangible assets | 8.67% | 8.76% | 8.62% | 8.68% | 8.64% |

---

## Exhibit 99.2

![](ex992q22025-earningsrele001.jpg)

. . . (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

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![](ex992q22025-earningsrele002.jpg)

. . .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, 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 imposition of tariffs or other domestic or international governmental policies and retaliatory responses, the level of prepayments on loans and mortgage-backed securities, legislative/regulatory changes, 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 investor sentiment and 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, failure to retain or attract employees, 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, 2024, 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 at the end of this presentation and in the Company's Earnings Release furnished as Exhibit 99.1 to Form 8-K as filed with the SEC on July 24, 2025. 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

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![](ex992q22025-earningsrele003.jpg)

. . .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 Interest Income 0.53% Core ROAA(1) 6.17% Core ROTCE(1) $0.46 Core PTPP Diluted EPS(1) 11.0% CET1 Ratio(2)  Total loans increased at a 2% annualized growth rate, including $132 million of commercial and industrial loan growth. The commercial loan pipeline reached a record high of $791 million, which increased 111% from $376 million in the linked quarter.  In April 2025, we added 9 Premier Banking teams totaling 36 employees. Through quarter-end, these teams have added $115 million of deposits at a weighted average cost of 2.71%. We remain optimistic on the trajectory of the Premier Bank's growth based on the team's performance to date.  The Company repurchased 1,003,550 shares during the quarter and redeemed all preferred stock. Book value per share decreased $0.63 to $28.64 while tangible book value per share increased $0.18 to $19.34 as compared to the linked quarter.  In July 2025, the Company's Board of Directors authorized a repurchase program to repurchase up to an additional 3 million shares. 3

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![](ex992q22025-earningsrele004.jpg)

. . . Quarterly Earnings Update 4

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![](ex992q22025-earningsrele005.jpg)

. . .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 of 2.71%.  Added +670 new accounts across ~200 relationships.  Target $500 million in deposits in 2025. Strategic Deployment of Funding Channel  Reduce wholesale funding and higher cost retail deposits in the near term.  Create meaningful margin and profitability expansion through a stable low-cost deposit vertical supporting future C&I growth. Geography and Reach  New York City – Expanding existing Midtown, NY branch and adding non-retail space.  Long Island – New commercial banking center in Melville.  Westchester – Leveraging existing Scarsdale, NY full-service branch. 5 Business Model  Relationship driven, team-based approach to service, resulting in superior high-touch client experience.  Differentiated Commercial Organic Deposit Channel leveraging our existing infrastructure and products.

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![](ex992q22025-earningsrele006.jpg)

. . .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 Q2-24 5.46% 243 Q3-24 5.38% 230 Q4-24 5.37% 226 Q1-25 5.41% 221 Q2-25 10,019 10,022 10,118 10,125 10,185 Average Loan Yield Home Equity & Consumer Residential C&I - non-real estate C&I - real estate CRE Investor-Owned 6

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![](ex992q22025-earningsrele007.jpg)

. . . 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 loans exclude OREO. (2) Peer data is on a one quarter lag. Non-Performing Loans and Assets ($'000)(1) Special Mention and Substandard Loans ($'000) (1) PCD loans are not included in these metrics. Refer to Asset Quality section in the Earnings Release for additional information. Criticized loans as a % of total loans remain low at 1.43% as of Q2-25 compared to 2.06% as of Q4-19 (pre-pandemic). 0.20% 23,398 25,252 27,596 29,246 26,711 7,680 0.31% 0.23% 7,183 Q2-24 0.25% 0.19% Q3-24 0.27% 0.22% Q4-24 0.29% 0.23% Q1-25 0.26% Q2-25 1,811 1,917 NPL to total loans NPA to total assets NPL - single CRE relationship OREO Non-performing loans 92,847 103,384 103,534 125,454 124,112 49,767 85,721 54,526 23,811 21,521 3.45% 1.42% Q2-24 3.58% 1.89% Q3-24 3.49% 1.56% Q4-24 3.70% 1.47% Q1-25 1.43% Q2-25 Peer Average Criticized Loans / Total Loans OCFC Criticized Loans / Total Loans Special Mention Substandard OCFC 10-Year (2015-2024) Average Criticized Loans / Total Loans = 2.24% 7 (1) (2) (1) Increase driven by a $6.2 million note moved to OREO.

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![](ex992q22025-earningsrele008.jpg)

. . .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% 0.79% 0.83% 0.83% PCD & General Credit Marks ACL 1,452 -88 -158 636 2,218 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Provision Expense Net Charge-offs (Recoveries) 3,114 517 3,467 Includes $1.4 million non-core day 1 provision relating to Spring Garden acquisition. Note: The allowance for credit losses plus the unamortized credit and PCD marks amounted to $84.2 million or 0.83% of total loans at Q2-25, as compared to $84.4 million, or 0.83% of total loans at Q1-25. 2,041 Includes $3.3 million of increased provision related to elevated uncertainty in the macroeconomic environment despite strong asset quality metrics. 5,340 2,086 8 3,039 Note: Q2-25 charge-offs primarily relate to two commercial relationships of $1.6 million and $445K for NPL sale.

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![](ex992q22025-earningsrele009.jpg)

. . . 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 assets from 2006 to 2024.  From 2006 to Q2-25, peak net charge-offs to average loans for OCFC totaled 56 bps in 2011. Peak charge-offs for commercial banks between $10 - $50 billion in assets were 253 bps in 2009. Global Financial Crisis Hurricane Sandy Source: S&P Global. Note: Commercial bank reporting is on a one quarter lag. (1) Any period with net recoveries is denoted as 0% NCO / Avg Loans in the graph. 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q1-25 Q2-25 OCFC NCO / Avg Loans Commercial Banks ($10-50 bn) NCO / Avg Loans (1) 9

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![](ex992q22025-earningsrele010.jpg)

. . .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, 2025.  Total deposits increased $55 million from the prior quarter.  Time deposits increased by $180 million to $2.3 billion driven by an increase in brokered time deposits of $152 million and retail time deposits of $27 million, respectively.  Increase in brokered time deposits driven by timing lag on funding new loan growth against outflow of government deposits and incoming Premier Bank deposits.  We expect Q3-25 deposit growth to be in line with loan growth. Deposit Mix Remains Stable ($'millions) 2,368 2,221 2,081 2,120 2,299 1,116 1,072 1,066 1,052 1,023 1,210 1,289 1,301 1,337 1,378 3,668 3,896 4,001 4,007 3,845 1,633 1,638 1,617 1,661 1,687 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 9,994 10,116 10,066 10,177 10,232 Non-Int. Bearing Int. Bearing Checking Money Market Savings Time Deposits Deposit Beta (1) Up Cycle Down Cycle Cumulative 42% 34% 43% 10 Cost of Deposits Spot Avg Type of Account Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q2-25 Int. Bearing Checking 2.16% 2.27% 2.11% 2.04% 2.02% 2.07% Money Market 3.61% 3.37% 3.00% 2.83% 2.94% 2.90% Savings 0.83% 0.81% 0.72% 0.67% 0.66% 0.65% Time Deposits 4.55% 4.47% 4.18% 3.75% 3.75% 3.74% Total (incl. non-int. bearing) 2.40% 2.38% 2.17% 2.03% 2.07% 2.06%

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![](ex992q22025-earningsrele011.jpg)

. . .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 environment as peers compete on rate for quality credit. Tailwinds  Continued growth in lower cost deposits from the Premier Bank teams. 11 Q1-25 NIM 0.01% Impact of purchase accounting and prepayment fees Q2-25 NIM 2.90% 2.91%

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![](ex992q22025-earningsrele012.jpg)

. . . 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 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 58,620 62,067 64,739 64,294 71,474 Compensation & employee benefits Occupancy & equipment FDIC & regulatory assessments Data processing Professional fees Other Opex (1For non-GAAP financial measures, please refer to the 'Non-GAAP Reconciliations' in the Appendices for a reconciliation to GAAP financial information. (2)Other Opex includes marketing, check card processing, amortization of intangibles, and other expenses.  Q2-25 core non-interest expenses increased by $7.2 million (or 11%) from the linked quarter driven by the hiring of C&I lenders and the full quarter impact of Premier Bank teams.  Q2-25 core non-interest expense includes non-recurring recruiting fees totaling $1.6 million relating to the Premier Bank hires.  Q3-25 core operating expenses remains at a run-rate of $71-72 million due to a full quarter of commercial banking team hires. (2) 12 63.47% Q2-24 66.00% Q3-24 67.74% Q4-24 65.81% Q1-25 72.28% Q2-25 1.75% 1.84% 1.90% 1.96% 2.16% Core Efficiency Ratio Core Non-Interest Expense to Average Assets (Annualized)

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![](ex992q22025-earningsrele013.jpg)

. . .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 redeemed all of its preferred stock during the quarter for an aggregate payment of $57 million, at a redemption price of $25.00 per share.  Total shares available to repurchase of 3,226,284 including the announcement on July 16, 2025, where the BOD authorized the 2025 Stock Repurchase Program to repurchase up to 3 million additional shares. Capital Management ($'millions)(2) 18.93 19.28 18.98 19.16 19.34 28.67 29.02 29.08 29.27 28.64 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Book Value per Share Tangible Book Value per Common Share 7.86% 8.26% 0.68% Q2-24 7.85% 8.24% 0.69% Q3-24 7.51% 7.89% 0.65% Q4-24 7.00% 7.34% 0.62% Q1-25 6.17% 0.53% Q2-25 Core ROTE Core ROTCE Core ROAA 12 12 12 12 12 5 7 17 9.08% 11.2% Q2-24 9.10% 11.3% 1 Q3-24 9.06% 11.2% 0 Q4-24 9.19% 11.2% Q1-25 8.67% 11.0% Q2-25 Tangible Stockholders' Equity to Tangible Assets1 CET1 Share Repurchases Common Dividend (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 Q2-25.13

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![](ex992q22025-earningsrele014.jpg)

. . .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 growth Stable Stable to modest uptick in NIM% Key Assumptions / Commentary • We expect Q3-25 operating expenses in the range of $71-72 million, reflecting a full quarter of commercial banking hires with minimal incremental hires during the quarter. • Subject to expected growth and interest rate trends, we expect net interest income $ to grow in line with loan growth. Other Income Relatively stable Credit Continued benign outlook Capital Robust CET1 ratio (>10%) • Sufficient capital to fund near-term growth; share repurchase authorization provides flexibility to return value to shareholders. 14

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![](ex992q22025-earningsrele015.jpg)

. . . Appendix 15

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. . .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 billion (or 10% of total loans), is set to mature in 2025 and 2026 with weighted average rates of 5.42% and 3.80%, for each respective cohort. The impact of repriced loans to-date has been benign. CRE Investor-Owned Portfolio by Geography(3) Notes: • All data represents CRE Investor-Owned balances, excluding purchase accounting marks and Construction as of June 30, 2025, unless otherwise noted. • WA LTV represents the weighted average of loan balances as of June 30, 2025 divided by their most recent appraisal value, which is generally obtained at the time of origination. • WA DSCR represents the weighted average of net operating income on the property before debt service divided by the loan's respective annual debt service based on the most recent credit review of the borrower. • WA rate includes borrower fixed rate exposure for loans with swap contracts and excludes any benefit from back-to-back rate swaps. Footnotes: (1) Other includes underlying co-operatives, single purpose, stores and some living units / mixed use, investor-owned 1-4 family, land / development, and other. (2) Rent-regulated multi-family is defined as buildings with >50% rent-regulated units. (3) Based on location of collateral. 31% 28% 26% 9% NY PA/DE NJ 3% MA 3% MD/DC Other Limited underlying concentration exposure: • NYC rent-regulated(2) multi-family: $30.5 million • NYC Office Central Business District (CBD): $7.0 million 16 CRE Investor-Owned - Maturity Wall Balance Weighted Average % of Maturity Year ($'millions) Rate LTV DSCR Loans 2025 529 5.42 52.76 1.75 5.19% 2026 508 3.80 53.00 2.25 4.99% Total 1,037 4.62 52.88 2.00 10.18% CRE Investor-Owned - Collateral Details $'millions CRE: Investor-Owned % of Total WA LTV WA DSCR Office 1,023 23.0% 54.5 1.78 Retail 1,021 22.9% 52.7 1.98 Multi-Family 833 18.7% 62.3 1.70 Industrial / Warehouse 731 16.4% 48.4 2.15 Hospitality 175 3.9% 46.1 1.98 Other (1) 671 15.1% 59.3 1.10 CRE: Investor-Owned 4,455 100.0% 54.9 1.78 Construction 613 CRE IO and Construction Total 5,068

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. . .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 assets and have a weighted average LTV of 53.8 and weighted average DSCR of 1.82.  Office portfolio is primarily secured by small properties with 72% of the portfolio secured by properties of 300K SF or smaller.  The average loan size of the office portfolio is $4.4 million with 47% of the portfolio under $1 million and 79% under $5 million. Notes: • All data represents CRE Investor-Owned balances, excluding purchase accounting marks and Construction as of June 30, 2025, unless otherwise noted. • WA LTV represents the weighted average of loan balances as of June 30, 2025 divided by their most recent appraisal value, which is generally obtained at the time of origination. • WA DSCR represents the weighted average of net operating income on the property before debt service divided by the loan's respective annual debt service based on the most recent credit review of the borrower. In the above tables, Construction consists of all property segments (e.g., co-op, hospitality, industrial / warehouse, etc.) 17 CRE Investor-Owned: Office + Construction $'millions Balance % of Office % of Total Loans WA LTV WA DSCR General Off ice 491 48.0% 4.8% 48.3 1.92 Life Sciences & Medical 275 26.9% 2.7% 56.1 1.79 Credit Tenant 257 25.1% 2.5% 64.6 1.49 Office 1,023 100.0% 10.0% 54.5 1.78 Construction (all property segments) 613 6.0% Office + Construction 1,636 16.1% CRE Investor-Owned: Office + Construction CBD Bifurcation $'millions Balance % of Total % of CBD MA 45 4.0% 38.0% NJ 43 3.8% 35.7% PA 25 2.2% 20.5% NY 7 0.6% 5.8% Central Business District 120 7.3% 100.0% Non Central Business District 1,517 92.7% Office + Construction 1,636 100.0% Central Business District (CBD): Office + Construction $'millions Balance % of Total WA LTV WA DSCR Credit Tenant 43 35.7% 59.3 1.86 General Off ice 35 29.1% 53.5 2.37 Life Sciences & Medical 42 35.3% 48.5 1.34 CBD - Office & Construction 120 100.0% 53.8 1.82

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. . . 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 major exchange traded U.S. banks headquartered in other regions  Median net charge-offs / average assets for Northeastern banks averaged 20 bps during the Global Financial Crisis compared to 50 bps for other regions. GFC Peak NCOs 1.3x 1.9x 2.6x 4.4x2.8x 18 Q1-25 Northeast 0.08% Mid Atlantic 0.07% Southeast 0.10% Midwest 0.03% Southwest 0.05% West 0.03% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q1-25 Northeast NCO / Avg Assets Mid-Atlantic NCO / Avg Assets Southeast NCO / Avg Assets Midwest NCO / Avg Assets Southwest NCO / Avg Assets West NCO / Avg Assets

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. . . 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 historically outperformed major exchange traded banks in other regions  Median CRE net charge-offs / average assets for Northeastern banks averaged 2 bps during the Global Financial Crisis compared to 6 bps for other regions 19 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q1-25 Northeast NCO / Avg Assets Mid-Atlantic NCO / Avg Assets Southeast NCO / Avg Assets Midwest NCO / Avg Assets Southwest NCO / Avg Assets West NCO / Avg Assets

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. . .Non-GAAP Reconciliations (1 of 2) 20 Non-GAAP Reconciliation For the Three Months Ended $'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 Adjustments to exclude the impact of non-recurring and non-core items: Spring Garden opening provision for credit losses - - 1,426 - - Net (gain) loss on equity investments (488) (205) 5 (1,420) (887) Net gain on sale of trust business - - - (1,438) - Merger related expenses - - 110 1,669 - Income tax expense (benefit) on items 115 49 (388) 270 188 Loss on redemption of preferred stock 1,842 - - - - Core earnings (Non-GAAP) $17,669 $20,349 $22,058 $23,193 $22,670 Income tax expense $5,771 $6,808 $5,083 $7,464 $7,082 Provision for credit losses 3,039 5,340 3,467 517 3,114 Less: non-core provision for credit losses - - 1,426 - - Less: income tax expense (benefit) on non-core items 115 49 (388) 270 188 Core earnings PTPP (Non-GAAP) $26,364 $32,448 $29,570 $30,904 $32,678 Core earnings diluted earnings per share $0.31 $0.35 $0.38 $0.39 $0.39 Core earnings PTPP diluted earnings per share $0.46 $0.56 $0.51 $0.53 $0.56 Core Ratios (Annualized): Return on average assets 0.53% 0.62% 0.65% 0.69% 0.68% Return on average tangible stockholders' equity 6.17 7.00 7.51 7.85 7.86 Return on average tangible common equity 6.17 7.34 7.89 8.24 8.26 Efficiency ratio 72.28 65.81 67.74 66.00 63.47

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. . .Non-GAAP Reconciliations (2 of 2) 21 Non-GAAP Reconciliation $'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 523,308 523,308 523,308 506,146 506,146 Intangibles 10,834 11,740 12,680 7,056 7,859 Tangible stockholders' equity 1,109,538 1,174,069 1,166,769 1,181,306 1,162,664 Less: Preferred Stock - 55,527 55,527 55,527 55,527 Tangible common equity $1,109,538 $1,118,542 $1,111,242 $1,125,779 $1,107,137 Tangible Assets: Total assets $13,327,847 $13,309,278 $13,421,247 $13,488,483 $13,321,755 Less: Goodwill 523,308 523,308 523,308 506,146 506,146 Intangibles 10,834 11,740 12,680 7,056 7,859 Tangible assets $12,793,705 $12,774,230 $12,885,259 $12,975,281 $12,807,750 Tangible stockholders' equity to tangible assets 8.67% 9.19% 9.06% 9.10% 9.08% Tangible common equity to tangible assets 8.67% 8.76% 8.62% 8.68% 8.64%

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