Financial Performance - Net income available to common stockholders for Q1 2025 decreased to $20.5 million, or $0.35 per diluted share, compared to $27.7 million, or $0.47 per diluted share in Q1 2024[17] - Operating expenses for Q1 2025 were $64.294 million, slightly down from $64.849 million in the previous quarter[1] - The Company reported a net benefit of $842,000 in other income and $1.3 million in normal incentive-related adjustments during the current quarter[16] - Interest income decreased to $153.7 million from $161.6 million, with the yield on average interest-earning assets decreasing to 5.13% from 5.26%[30] - Net income available to common stockholders decreased to $20.5 million, or $0.35 per diluted share, compared to $27.7 million, or $0.47 per diluted share[29] Asset and Liability Management - Total assets decreased to $13.309 billion from $13.421 billion in the previous quarter[1] - Total liabilities decreased by $118.3 million to $11.60 billion, with deposits increasing by $110.7 million to $10.18 billion[26] - Total stockholders' equity increased to $1.709 billion from $1.703 billion in the previous quarter[1] - The Company’s stockholders' equity to total assets ratio was 12.84% as of March 31, 2025[55] - The loan-to-deposit ratio was 99.5%, down from 100.5%[26] Credit Quality - Provision for credit losses was $5.3 million, resulting in an allowance for loan credit losses of 0.78%, up from 0.73% in the previous quarter[19] - Non-performing loans increased to $36.970 million from $35.527 million in the previous quarter[1] - Non-performing assets increased to $38,887,000 as of March 31, 2025, compared to $37,338,000 at December 31, 2024[64] - Delinquent loans (30-89 days) rose to $46,246,000 from $36,550,000, primarily due to two commercial relationships classified as substandard[67] - The company's non-performing loans represented 0.37% of total loans as of March 31, 2025, compared to 0.35% at December 31, 2024[67] Loan and Deposit Activity - Commercial and industrial loans increased by $95.1 million, or 6.1%, compared to the linked quarter, with the total commercial loan pipeline increasing 90% to $375.6 million[19] - The Company had total loans outstanding of $10.13 billion, with 51.4% ($5.20 billion) in investor-owned commercial real estate loans[56] - Outstanding commitments to originate loans totaled $504.4 million, with undrawn lines of credit at $1.30 billion[45] - Cash dividends declared and paid during the three months ended March 31, 2025, totaled $11.7 million for common stock and $1.0 million for preferred stock[49] - The Company repurchased 398,395 shares of common stock for a total of $6.9 million during the quarter[47] Capital and Regulatory Compliance - As of March 31, 2025, the Company maintained a Tier 1 capital ratio of 9.73% and a total capital ratio of 14.64%, exceeding regulatory requirements[54] - The Company has detailed contingency capital plans and performs capital stress tests to ensure adequate capital under various scenarios[52] - The allowance for loan credit losses as a percentage of total loans was 0.78% as of March 31, 2025, up from 0.73% at December 31, 2024[64] Interest Rate Sensitivity - The Economic Value of Equity (EVE) sensitivity shows a decrease of 2.3% under a 300 basis points rate shock, compared to a decrease of 6.2% as of December 31, 2024[86] - The net interest income sensitivity indicates a modest asset sensitivity at March 31, 2025, with a 0.4% increase under a 100 basis points rate shock[86] - Under a 300 basis points rate shock, net interest income is projected to decrease by 3.5% as of March 31, 2025, compared to a decrease of 2.6% as of December 31, 2024[86] - The Company has observed a reduction in deposit costs, contributing to the changes in EVE sensitivity[87] - The model does not account for the Company's business or strategic plans in response to changes in interest rates[88]

Group 1 - OceanFirst Financial Corp. is a smaller regional bank based in New Jersey, highlighted for its 5% dividend yield, which is considered attractive [1] - There is caution regarding the bank's loan portfolio, indicating potential concerns about credit quality or risk exposure [1] Group 2 - The investment strategy mentioned emphasizes a blended approach of trading and income to enhance savings and retirement timelines [1] - The service offers a 20% discount for new members, suggesting a promotional effort to attract more clients during market corrections [1]

Exhibit 99.2 OceanFirst Financial Corp. 1Q 2025 Earnings Release Supplement(1) April 2025 (1) The 1Q 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 April 24, 2025. . . . 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 ba ...

Financial Data and Key Metrics Changes - The company reported earnings per share of $0.35 on a fully diluted GAAP and core basis, marking a second consecutive quarter of growth in both net and interest income, which increased by more than $3 million for the quarter [7][10] - Net interest margin expanded by 21 basis points, driven by deposit repricing efforts [7][18] - Operating expenses for the quarter were $64 million, modestly lower than the prior quarter [8][22] - Capital levels remain robust with an estimated common equity Tier one capital ratio of 11.2% and tangible book value per share of $19.16 [10][23] Business Line Data and Key Metrics Changes - Commercial and industrial loan growth was reported at 6%, or 24% annualized, with total commercial loan pipeline increasing to $376 million [7][12] - Noninterest income decreased by 8% to $11.3 million during the quarter, primarily driven by seasonally lower title fees and service charges [17] - The residential division faced uneven loan demand due to volatility in rates and limited inventory [13] Market Data and Key Metrics Changes - Excluding brokered CDs, deposit balances decreased by approximately 2% compared to the prior quarter, primarily due to a runoff of higher-cost time deposits [16] - Asset quality remained strong with annualized net charge-offs at just three basis points and total loans classified as special mention and substandard decreased by 5% [9][20] Company Strategy and Development Direction - The company is focused on launching the premier bank initiative, which is expected to drive organic deposit growth and additional margin improvement in the second half of the year [10][11] - The recruitment of commercial bankers has begun to pay dividends, with a significant increase in the commercial loan pipeline [12][15] - The company aims to maintain a diversified business model, growing both the premier bank and other segments like consumer banking and commercial real estate [128] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding economic uncertainty and its potential impact on rates and affordability [13] - The company anticipates a modest increase in operating expenses due to recent hires and expects to see additional margin expansion in the second half of the year [22][120] - Management noted that they are monitoring exposures to industries and geographies for any emerging impacts from recent political and administrative policy changes, but have seen no signs of weakness across their customer base [21] Other Important Information - The board approved a quarterly cash dividend of $0.20 for common shares, representing 57% of GAAP earnings [10] - The company repurchased nearly 400,000 shares for a total of $6.9 million at a weighted average cost of $17.2 per share [23][140] Q&A Session Summary Question: What sectors are targeted for the new teams brought over? - The teams have a robust variety of commercial clients, ranging from deposit-rich clients to traditional commercial borrowers [27] Question: What are the expectations for deposit rates and costs? - The portfolios maintained by these clients typically have a substantial portion of noninterest deposits, leading to an attractive cost of deposits [28][29] Question: What is the anticipated impact of the new hires on expenses? - The increase in expenses is primarily driven by compensation expense increases and some inflationary increases in contracts [32][33] Question: Can you provide an update on the Premier Bank initiative's reception? - The Premier Bank appeals to a certain segment of clients, and the majority of new customers are expected to be net additions to the bank [40][43] Question: What is the current concentration in commercial real estate (CRE)? - The CRE concentration at the bank level is 4.16%, and the company is happy with its current position, managing it prudently [107][108] Question: What are the expectations for loan growth in the second quarter? - The company anticipates mid-single-digit loan growth, supported by the progress in the Premier Bank initiative [136] Question: How does the company balance buybacks versus growth? - The company has options around capital management and can pursue both buybacks and growth depending on market conditions [140]

Financial Data and Key Metrics Changes - The company reported earnings per share of $0.35 on a fully diluted GAAP and core basis [6] - Net interest income grew by more than $3 million for the quarter, marking a nearly 4% increase [14] - Net interest margin expanded by 21 basis points, reaching a current margin of 2.9% [14][96] - Capital levels remained robust with an estimated common equity Tier one capital ratio of 11.2% and tangible book value per share of $19.16 [9] Business Line Data and Key Metrics Changes - Commercial and industrial loan growth was reported at 6%, or 24% annualized, with total commercial loan pipeline increasing to $376 million [7] - Loan originations for the quarter totaled $417 million, including $135 million of commercial and industrial originations [10] - Noninterest income decreased by 8% to $11.3 million, primarily driven by seasonally lower title fees and service charges [13] Market Data and Key Metrics Changes - Excluding brokered CDs, deposit balances decreased by approximately 2% compared to the prior quarter, primarily due to runoff of higher-cost time deposits [12] - Asset quality remained strong with non-performing loans at 0.37% and loans 30 to 89 days past due at 0.46% of total loans [14] Company Strategy and Development Direction - The company is focused on launching the Premier Bank initiative, which is expected to drive organic deposit growth and additional margin improvement in the second half of the year [9] - Management emphasized the importance of maintaining a diversified portfolio and avoiding concentration risks in their lending practices [104] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding loan demand and economic uncertainty, noting that it may impact rates, affordability, and production [11] - The company anticipates a 10% increase in quarterly operating expenses, primarily due to recent hiring efforts for the Premier Banking initiative [16] - Management expects additional margin expansion in the second half of the year, contingent on market conditions and potential Fed rate cuts [96] Other Important Information - The company approved a quarterly cash dividend of $0.20 for common shares, marking the 113th consecutive quarterly cash dividend [9] - The company plans to redeem $57.4 million of preferred stock on May 15 [17] Q&A Session Summary Question: What sectors are targeted for the new teams brought over? - The teams have a robust variety of commercial clients, including deposit-rich law firms and traditional commercial borrowers [19] Question: What are the expectations for deposit rates and costs? - The weighted average cost of deposits varies by team, with a substantial portion being non-interest bearing [20] Question: What is the anticipated expense increase related to the new hires? - The expense increase is primarily driven by compensation expense increases and some inflationary increases [24] Question: Can you provide an update on the Premier Bank initiative and customer reception? - The Premier Bank initiative is expected to attract net new customers, with a focus on providing tailored services [27][29] Question: What is the current concentration of commercial real estate (CRE) loans? - The CRE concentration at the bank level is 4.16%, with a focus on maintaining a diversified portfolio [85] Question: How does the company plan to balance buybacks versus growth? - The company has options for capital management, including share buybacks and retiring subordinated debt, depending on market conditions [113]

Core Insights - OceanFirst Financial (OCFC) reported revenue of $97.91 million for the quarter ended March 2025, reflecting a year-over-year decline of 0.6% and an EPS of $0.35 compared to $0.44 a year ago, with revenue exceeding the Zacks Consensus Estimate of $95.13 million by 2.92% [1] Financial Performance Metrics - Efficiency Ratio was reported at 65.7%, better than the estimated 69% by analysts [4] - Net Interest Margin stood at 2.9%, surpassing the average estimate of 2.7% [4] - Average Balance of Total Interest-Earning Assets was $12.11 billion, slightly below the estimated $12.31 billion [4] - Total Non-Interest Income was $11.25 million, lower than the average estimate of $11.82 million [4] - Net Interest Income reached $86.65 million, exceeding the average estimate of $83.31 million [4] - Bankcard Services Revenue was $1.46 million, below the estimated $1.81 million [4] - Fees and Service Charges totaled $4.71 million, compared to the average estimate of $6.14 million [4] - Income from Bank Owned Life Insurance was $1.85 million, lower than the estimated $2.29 million [4] Stock Performance - OceanFirst shares have returned -4.4% over the past month, compared to a -5.1% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Viewpoint - OceanFirst Financial reported quarterly earnings of $0.35 per share, matching the Zacks Consensus Estimate, but down from $0.44 per share a year ago [1] - The company posted revenues of $97.91 million for the quarter, exceeding the Zacks Consensus Estimate by 2.92%, but down from $98.51 million year-over-year [2] Financial Performance - Over the last four quarters, OceanFirst has surpassed consensus EPS estimates two times [2] - The company has also topped consensus revenue estimates two times in the same period [2] - The current consensus EPS estimate for the upcoming quarter is $0.37, with expected revenues of $98.88 million, and for the current fiscal year, the EPS estimate is $1.56 on revenues of $402.62 million [7] Market Position - OceanFirst shares have declined approximately 9.7% since the beginning of the year, compared to a decline of 8.6% for the S&P 500 [3] - The Zacks Industry Rank for Financial - Savings and Loan is in the top 28% of over 250 Zacks industries, indicating a favorable industry outlook [8] Future Outlook - The sustainability of OceanFirst's stock price movement will depend on management's commentary during the earnings call and future earnings expectations [3][4] - The estimate revisions trend for OceanFirst is currently mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market [6]

Financial Performance - Net income available to common stockholders for Q1 2025 was $20.5 million, or $0.35 per diluted share, down from $27.7 million, or $0.47 per diluted share, in Q1 2024[2] - Core earnings for Q1 2025 were $20.3 million, or $0.35 per diluted share, a decrease from $25.6 million, or $0.44 per diluted share, in the prior year[3] - Net income for Q1 2025 was $21.463 million, a decrease of 3.2% from $22.162 million in Q4 2024[45] - Basic earnings per share for Q1 2025 was $0.35, unchanged from Q4 2024[45] - For the three months ended March 31, 2025, net income available to common stockholders was $20,505,000, a decrease from $27,663,000 in the same period last year[67] - The return on average assets for the quarter was 0.62%, compared to 0.82% in the same quarter last year[67] Income and Expenses - Total interest income for Q1 2025 was $153.703 million, a decrease of 3.7% from $159.620 million in Q4 2024[45] - Net interest income after provision for credit losses was $81.312 million, compared to $79.862 million in Q4 2024, reflecting a 1.8% increase[45] - Total other income of $11.253 million for Q1 2025, down from $12.232 million in Q4 2024[45] - Operating expenses (excluding FDIC special assessment and merger-related expenses) were $64,294, slightly down from $64,739 in the previous quarter[62] Assets and Liabilities - Total assets decreased by $112.0 million to $13.31 billion, primarily due to decreases in total debt securities[25] - Total liabilities decreased by $118.3 million to $11.60 billion, with deposits increasing by $110.7 million to $10.18 billion[27] - Total assets as of March 31, 2025, were $13,311,893, a decrease from $13,545,052 as of December 31, 2024[62] - Total assets decreased to $13,309,278 million from $13,418,978 million a year ago, indicating a decline of approximately 0.8%[69] Loans and Credit Quality - Provision for credit losses was $5.3 million, reflecting a net loan reserve build of $5.2 million due to macroeconomic uncertainty[6] - Non-performing loans increased to $37.0 million, representing 0.37% of total loans, with an allowance for loan credit losses at 213.14% of non-performing loans[31] - The level of 30 to 89 days delinquent loans rose to $46.2 million from $36.6 million, primarily related to commercial loans[31] - Provision for credit losses increased to $5.340 million in Q1 2025, compared to $3.467 million in Q4 2024[45] - Total non-performing loans increased to $36,970 million as of March 31, 2025, compared to $35,527 million in the previous quarter, reflecting a 4.1% increase[51] - The allowance for loan credit losses rose to $78,798 million, representing 0.78% of total loans receivable, up from 0.73% in the previous quarter[51] Capital and Equity - Capital levels remained strong, with the common equity tier one capital ratio at 11.2%[28] - Total stockholders' equity increased to $1.71 billion from $1.70 billion, reflecting net income and offset by capital returns of dividends and share repurchases[29] - Tangible common equity rose by $7.3 million to $1.12 billion, with a stockholders' equity to assets ratio of 12.84%[30] - Tangible book value per common share at the end of the period was $19.16, up from $18.63 a year ago[65] - Total stockholders' equity increased to $1,709,117 million as of March 31, 2025, up from $1,665,837 million a year earlier, reflecting a growth of approximately 2.6%[69] Shareholder Actions - The Company repurchased 398,395 shares totaling $6.9 million at a weighted average cost of $17.20, with 1,228,863 shares available for repurchase[29] - Cash dividends per common share remained stable at $0.20 for the last five quarters[65] Future Outlook - The Company will host an earnings conference call on April 25, 2025, at 11:00 a.m. Eastern Time[37]

Core Financial Performance - OceanFirst Financial Corp. reported net income available to common stockholders of $20.5 million, or $0.35 per diluted share, for Q1 2025, down from $27.7 million, or $0.47 per diluted share, in the same period last year [1] - Core earnings for the same quarter were $20.3 million, or $0.35 per diluted share, a decrease from $25.6 million, or $0.44 per diluted share, year-over-year [2] - Core earnings before taxes and provision for credit losses (PTPP) were $32.4 million, or $0.56 per diluted share, compared to $36.2 million, or $0.62 per diluted share, in the prior year [3] Performance Ratios - Return on average assets was 0.62% for Q1 2025, slightly up from 0.61% in the previous quarter but down from 0.82% a year ago [1] - Return on average stockholders' equity was 4.85% for Q1 2025, down from 6.65% in the same quarter last year [1] - Efficiency ratio improved to 65.67% from 67.86% in the previous quarter but was higher than 59.56% a year ago [1] Net Interest Income and Margin - Net interest income increased to $86.7 million for Q1 2025, up from $83.3 million in the previous quarter and $86.2 million a year ago [40] - Net interest margin rose to 2.90%, an increase of 21 basis points from 2.69% in the previous quarter and from 2.81% a year ago [5][12] - The total cost of deposits decreased to 2.06% from 2.32% in the previous quarter, contributing to margin expansion [11] Loan and Deposit Growth - Total loans increased by $7.2 million to $10.13 billion, while the loan pipeline increased by $197.8 million to $504.4 million [23] - Commercial and industrial loans rose by $95.1 million, or 6.1%, compared to the previous quarter [5] - Deposits increased by $110.7 million to $10.18 billion, primarily due to increases in non-interest bearing, savings, and time deposits [24] Provision for Credit Losses - Provision for credit losses was $5.3 million for Q1 2025, up from $591,000 in the same quarter last year [15] - Net loan charge-offs were $636,000, compared to $349,000 in the prior year [16] - The allowance for loan credit losses increased to 0.78% of total loans, up from 0.73% [29] Stockholder Returns and Dividends - The Board of Directors declared a quarterly cash dividend of $0.20 per share, marking the 113th consecutive quarterly dividend [4] - The Company repurchased 398,395 shares totaling $6.9 million during the quarter [26] Financial Condition - Total assets decreased by $112.0 million to $13.31 billion, primarily due to decreases in total debt securities [23] - Total stockholders' equity increased to $1.71 billion, reflecting net income and capital returns [26] - The Company's common equity tier one capital ratio remained strong at 11.2% [25]

Core Viewpoint - OceanFirst Financial Corp. will redeem all outstanding shares of its 7.00% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A, on May 15, 2025, as part of its strategy to optimize its balance sheet and reduce liabilities with higher funding costs [1][4]. Summary by Sections Redemption Details - The company will redeem 57,370 shares of Series A Preferred Stock at a cash redemption price of $1,000 per share, equivalent to $25 per Depositary Share [1]. - The redemption will occur on the next dividend payment date, May 15, 2025, and will include a previously declared dividend payment due on that date [1]. - The depositary will also redeem 2,294,800 Depositary Shares, each representing a 1/40th interest in a share of the Series A Preferred Stock [1]. Post-Redemption Effects - After the Redemption Date, dividends on the Series A Preferred Stock will cease to accrue, and both the Series A Preferred Stock and the Depositary Shares will no longer be considered outstanding [3]. - Holders will retain the right to receive the Redemption Price without interest [3]. Company Background - OceanFirst Financial Corp. is a regional bank with $13.3 billion in assets, providing various financial services across New Jersey and major metropolitan areas from Massachusetts to Virginia [4]. - The bank has a long history, having been founded in 1902, and is recognized as one of the largest community-based financial institutions in New Jersey [4].