Group 1 - OceanFirst Financial is a New Jersey-based bank with a total balance sheet of approximately $13.4 billion and an equity value of $1.7 billion, which includes nearly $60 million in preferred equity [1] - The bank primarily focuses on issuing commercial real estate [1] Group 2 - The investment group European Small Cap Ideas provides exclusive access to actionable research on appealing Europe-focused investment opportunities, particularly in the small-cap space [1] - The focus of the investment group is on high-quality ideas emphasizing capital gains and dividend income for continuous cash flow [1] - The group features two model portfolios: the European Small Cap Ideas portfolio and the European REIT Portfolio, along with weekly updates and educational content [1]

Financial Data and Key Metrics - The company's quarterly earnings release and related earnings supplement are available on the company website, oceanfirstcom [3] - Remarks during the call may contain forward-looking statements and non-GAAP financial measures, with participants advised to refer to SEC filings for a complete discussion of these statements [4] Business Lines and Key Metrics - No specific data provided in the content regarding individual business lines or key metrics Market Data and Key Metrics - No specific data provided in the content regarding market data or key metrics Company Strategy and Industry Competition - No specific data provided in the content regarding company strategy or industry competition Management Commentary on Operating Environment and Future Outlook - No specific data provided in the content regarding management commentary on the operating environment or future outlook Other Important Information - The call is being moderated by Brika, with all lines muted during the presentation portion and an opportunity for questions and answers at the end [2] - Alfred Goon, SVP of Corporate Development and Investor Relations, introduced the call and reminded participants of the availability of earnings materials on the company website [3] Q&A Session - No specific questions or answers were provided in the content regarding the Q&A session

Group 1 - OceanFirst Financial Corp. held its Q4 2024 earnings conference call on January 24, 2025 [1] - The call was moderated by Brika, with Alfred Goon serving as the host and Senior Vice President of Corporate Development and Investor Relations [2][3] - The company emphasized the availability of the quarterly earnings release and related supplements on its website [3] Group 2 - Christopher Maher, the Chairman and CEO, was introduced to provide insights during the call [4][5]

Exhibit 99.2 OceanFirst Financial Corp. 4Q 2024 Earnings Release Supplement(1) January 2025 (1) The 4Q 2024 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 January 23, 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 ar ...

Core Insights - OceanFirst Financial (OCFC) reported a revenue of $95.56 million for the quarter ended December 2024, reflecting a year-over-year decline of 4.1% and an EPS of $0.38 compared to $0.45 a year ago [1] - The reported revenue was slightly below the Zacks Consensus Estimate of $95.7 million, resulting in a surprise of -0.15%, while the EPS exceeded the consensus estimate of $0.36 by 5.56% [1] Financial Performance Metrics - Efficiency Ratio stood at 67.9%, higher than the three-analyst average estimate of 67.1% [4] - Net Interest Margin was reported at 2.7%, matching the average estimate based on three analysts [4] - Average Balance of Total Interest-Earning Assets was $12.33 billion, slightly above the estimated $12.32 billion [4] - Net Interest Income reached $83.33 million, surpassing the three-analyst average estimate of $82.91 million [4] - Total Non-Interest Income was $12.23 million, below the average estimate of $12.45 million [4] - Income from Bank Owned Life Insurance was $2.54 million, exceeding the two-analyst average estimate of $1.91 million [4] - Bankcard Services Revenue was $1.60 million, lower than the two-analyst average estimate of $1.82 million [4] - Fees and Service Charges amounted to $6.21 million, slightly above the two-analyst average estimate of $6.05 million [4] Stock Performance - OceanFirst shares have returned +5.7% over the past month, outperforming the Zacks S&P 500 composite's +2.7% change [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 (OCFC) reported quarterly earnings of $0.38 per share, exceeding the Zacks Consensus Estimate of $0.36 per share, but down from $0.45 per share a year ago, indicating a 15.56% year-over-year decline in earnings [1][2] Financial Performance - The company posted revenues of $95.56 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 0.15% and down from $99.69 million year-over-year [2] - Over the last four quarters, OceanFirst has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Stock Performance - OceanFirst shares have increased approximately 5% since the beginning of the year, outperforming the S&P 500's gain of 3.5% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.36 on revenues of $95.93 million, and for the current fiscal year, it is $1.60 on revenues of $406.47 million [7] - The estimate revisions trend for OceanFirst is mixed, which may change following the recent earnings report [6] Industry Context - The Financial - Savings and Loan industry, to which OceanFirst belongs, is currently in the top 11% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

Financial Performance - Net income available to common stockholders for Q4 2024 was $20.9 million, or $0.36 per diluted share, down from $26.7 million, or $0.46 per diluted share in Q4 2023[2]. - Core earnings for Q4 2024 were $22.1 million, or $0.38 per diluted share, compared to $26.3 million, or $0.45 per diluted share in Q4 2023[3]. - Net income attributable to OceanFirst Financial Corp. was $21,909 thousand for the three months ended December 31, 2024, down 12.4% from $25,116 thousand in the prior quarter[48]. - Net income attributable to OceanFirst Financial Corp. for the quarter ended December 31, 2024, was $21,909, a decrease from $27,682 in the same quarter of 2023[69]. - Core earnings (Non-GAAP) decreased to $93,559 million in 2024 from $104,718 million in 2023, a decline of approximately 10.7%[79]. - Core diluted earnings per share fell to $1.60 in 2024, down from $1.78 in 2023, representing a decrease of about 10.1%[79]. Revenue and Income Sources - Net interest income decreased to $83.3 million in Q4 2024 from $87.8 million in Q4 2023, with net interest margin at 2.69%, down from 2.82%[7]. - Other income for Q4 2024 increased to $12.2 million from $11.9 million in Q4 2023, driven by increases in bank owned life insurance income and net gain on sale of loans[18]. - Total interest income for the year ended December 31, 2024, was $642,173 thousand, an increase of 5.6% compared to $607,974 thousand for the year ended December 31, 2023[48]. - Net interest income for the year ended December 31, 2024, was $334,035, down from $369,731 in the previous year[64]. Loan and Deposit Activity - Loan growth for Q4 2024 was $95.9 million, or 4% annualized, with originations increasing by 20% to $515.2 million[5]. - Total deposits remained at $10.1 billion, with a net increase of $76.5 million, or 3% annualized, excluding brokered deposit run-off[5]. - Total deposits as of December 31, 2024, were $10,066,342, slightly down from $10,434,949 a year earlier[69]. - Total loans receivable as of December 31, 2024, amounted to $10,118,072, an increase from $10,022,156 in the previous quarter[50]. - Total consumer loans receivable reached $3,280,225 as of December 31, 2024, up from $3,246,188 in the previous quarter[50]. - Total commercial loans receivable increased to $6,837,847 as of December 31, 2024, compared to $6,775,968 in the previous quarter[50]. Expenses and Efficiency - Operating expenses for the quarter ended December 31, 2024, increased to $64.8 million from $60.2 million, impacted by non-core items of $110,000 related to merger expenses[24]. - The efficiency ratio for Q4 2024 was 67.86%, up from 60.38% in Q4 2023[2]. - Excluding non-core operations, operating expenses increased by $6.2 million, driven by a $4.5 million rise in compensation and benefits due to acquisitions[25]. - Total operating expenses for the year ended December 31, 2024, were $245,877 thousand, slightly down from $248,912 thousand in the previous year, a decrease of 1.2%[48]. - Efficiency ratio worsened to 67.86% in Q4 2024 from 60.38% in Q4 2023[72]. Asset and Liability Management - Total assets decreased by $117.0 million to $13.42 billion, primarily due to a $76.5 million decrease in total loans[31]. - Total liabilities decreased by $157.8 million to $11.72 billion, with deposits down by $368.6 million to $10.07 billion[32]. - The loans-to-deposit ratio increased to 100.5% from 97.7%[32]. - Total assets as of December 31, 2024, were $13,495,402, compared to $13,487,029 as of December 31, 2023, reflecting a slight increase[64]. - Total liabilities increased to $11.842 billion as of December 31, 2024, from $11.750 billion in the previous quarter[62]. Credit Quality - Provision for credit losses for Q4 2024 was $3.5 million, compared to $3.2 million in Q4 2023[15]. - The Company's non-performing loans increased to $35.5 million, representing 0.35% of total loans[36]. - The allowance for loan credit losses was 0.73% of total loans, up from 0.66%[36]. - Non-performing loans totaled $35,527 as of December 31, 2024, up from $28,139 in the previous quarter, indicating a 26.8% increase[54]. - The provision for credit losses was $3,467 thousand for the three months ended December 31, 2024, compared to $517 thousand in the previous quarter, indicating an increase in credit loss provisions[48]. - Provision for credit losses was $7,689 million in 2024, significantly lower than $17,678 million in 2023, indicating improved credit quality[79]. Shareholder Returns - The company declared a quarterly cash dividend of $0.20 per share, marking the 112th consecutive quarterly dividend[5]. - Book value per common share increased to $29.08 at the end of Q4 2024 from $27.96 at the end of Q4 2023[74]. - Total stockholders' equity increased to $1.70 billion, reflecting net income and offset by $21.5 million in share repurchases[34]. - Stockholders' equity rose to $1.703 billion as of December 31, 2024, compared to $1.689 billion in the previous quarter[62]. - Tangible common equity decreased to $1,111,242 million in December 2024 from $1,090,759 million in December 2023, a decrease of about 1.9%[82].

Core Points - OceanFirst Financial Corp. reported a net income of $20.9 million, or $0.36 per diluted share, for Q4 2024, down from $26.7 million, or $0.46 per diluted share, in Q4 2023 [1][2][46] - For the full year 2024, net income available to common stockholders was $96.0 million, or $1.65 per diluted share, compared to $100.0 million, or $1.70 per diluted share, in 2023 [1][2][46] - Core earnings for Q4 2024 were $22.1 million, or $0.38 per diluted share, down from $26.3 million, or $0.45 per diluted share, in Q4 2023 [2][3] - The company experienced a decrease in net interest income to $83.3 million in Q4 2024 from $87.8 million in Q4 2023, with a net interest margin of 2.69%, down from 2.82% [6][9][11] Financial Performance - Return on average assets for Q4 2024 was 0.61%, down from 0.78% in Q4 2023 [1][3] - Return on average stockholders' equity decreased to 4.88% in Q4 2024 from 6.41% in Q4 2023 [1][3] - Efficiency ratio increased to 67.86% in Q4 2024 from 60.38% in Q4 2023, indicating higher operating expenses relative to income [1][3] Loan and Deposit Growth - Loan growth for Q4 2024 was $95.9 million, or 4% annualized, with a 20% increase in originations to $515.2 million [3][5] - Total deposits remained stable at $10.1 billion, with a 3% annualized increase excluding brokered deposit run-off [3][5] - The loan pipeline increased to $306.7 million, up from $183.0 million year-over-year [28] Asset Quality - Non-performing loans increased to $35.5 million, representing 0.35% of total loans, up from 0.29% a year earlier [33][34] - The allowance for loan credit losses as a percentage of total non-performing loans was 207.19%, down from 227.21% [34] Capital and Equity - Total stockholders' equity increased to $1.70 billion from $1.66 billion, reflecting net income and share repurchases [31][32] - The common equity tier one capital ratio increased to 11.2%, up approximately 30 basis points from the previous year [30] Dividends - The Board of Directors declared a quarterly cash dividend of $0.20 per share, marking the 112th consecutive quarterly dividend [4]

RED BANK, N.J., Jan. 21, 2025 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:"OCFC"), (the "Company"), announced that its Board of Directors has declared a quarterly cash dividend of $0.4375 per share for every depositary share, representing 1/40th interest in the Series A Preferred Stock, payable on February 17, 2025 to stockholders of record on January 31, 2025. OceanFirst Financial Corp.'s subsidiary, OceanFirst Bank N.A., founded in 1902, is a regional bank providing financial services throughou ...

The upcoming report from OceanFirst Financial (OCFC) is expected to reveal quarterly earnings of $0.36 per share, indicating a decline of 20% compared to the year-ago period. Analysts forecast revenues of $95.7 million, representing a decrease of 4% year over year.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Before a company announc ...