Core Insights - OceanFirst Financial reported a strong fourth quarter for 2025, highlighting organic growth, strong asset quality, and expense management initiatives [6] Financial Performance - Pre-tax, pre-provision core earnings increased by 9%, or $3 million, compared to the previous quarter, driven by growth in earning assets [2] - Earnings per share were reported at $0.23 on a fully diluted GAAP basis and $0.41 on a core basis, marking a fifth consecutive quarter of net interest income (NII) growth, which rose by $5 million, or 5%, from the prior quarter [5] - Total loans increased by $474 million for the quarter, representing an 18% annualized growth rate, with quarterly originations exceeding $1 billion [4] Deposit and Funding - Total deposits increased by $528 million in the fourth quarter, with $323 million attributed to organic growth across multiple business lines [3] - The weighted average cost of the Premier deposit portfolio declined by 36 basis points to 2.28% as of December 31 [3] Asset Quality - Classified loans rated special mention and substandard decreased by 10% to $112 million, representing about 1% of total loans, with non-performing loans at 0.2% of total loans [8] - Net charge-offs remained low at five basis points of total loans, indicating strong credit performance [8] Expenses and Capital - GAAP operating expenses were $84 million, including $13 million related to residential outsourcing and merger costs, while core operating expenses were $71 million, down 2% from the previous quarter [11] - The estimated Common Equity Tier 1 (CET1) capital ratio was 10.7%, and tangible book value per share increased to $19.79 [13] Merger and Future Outlook - The company announced a merger agreement with Flushing Financial Corporation, aimed at enhancing organic growth initiatives in New York [14] - Management expects mid- to high-single-digit growth in loans and deposits, with NII and net interest margin (NIM) projected to improve, potentially exceeding 3% during the year [16]

Financial Data and Key Metrics Changes - The company reported earnings per share of $0.23 on a fully diluted GAAP basis and $0.41 on a core basis for Q4 2025 [3] - Net interest income grew by $5 million, or 5%, compared to the prior quarter, and increased by 14% year-over-year [4] - The net interest margin declined modestly to 2.87% compared to the previous quarter [4] - Total loans increased by $474 million, representing an 18% annualized growth rate, driven by $1 billion in originations [4] Business Line Data and Key Metrics Changes - The C&I business grew by 42% for the year, contributing significantly to loan growth [9] - Non-interest income decreased by $3.3 million to $9 million during the quarter, primarily due to lower title fees and a reduction in the gain on sale of loans [11] - Total deposits increased by $528 million, with $323 million driven by organic growth across various business lines [10] Market Data and Key Metrics Changes - The company’s asset quality remained strong, with total loans classified as special mention and substandard decreasing by 10% to $112 million, or just 1% of total loans [5] - Non-performing loans to total loans stood at 0.2%, and non-performing assets to total assets were at 0.22% [14] Company Strategy and Development Direction - The company announced a merger agreement with Flushing Financial Corporation, which is expected to enhance organic growth initiatives in New York and improve profitability [7] - The focus remains on continued organic growth efforts, which have shown success in the current quarter [8] Management's Comments on Operating Environment and Future Outlook - Management expects high single-digit growth in net interest income for the year, despite the typical seasonal slowdown in Q1 [22] - The effective tax rate is expected to remain in the 23%-25% range quarterly, absent any changes in tax policy [16] - The company anticipates continued growth in loans and deposits, with net interest income and margin expected to improve throughout the year [16] Other Important Information - The company did not repurchase any shares this quarter, as capital was utilized to support loan growth [7] - The quarterly cash dividend of $0.20 per common share was approved, marking the 116th consecutive quarterly cash dividend [7] Q&A Session Summary Question: Clarity on net interest income guidance - Management indicated that net interest income growth is expected to outpace loan balance growth due to the compounding effect of the balance sheet [21][22] Question: Commentary on loan sales post-merger - Management stated it is too early to provide precise figures on loan sales after the merger, but they expect to improve margins and reduce credit risk over time [23] Question: Expense line clarification - The recurring CRT premium expense is categorized under other expenses, similar to insurance premium expenses [24][25] Question: C&I growth expectations for 2026 - Management expects C&I growth rates to remain in the 7%-9% range, with a strong focus on talent recruitment [35] Question: Deposit growth outlook for Premier Banking - Management confirmed that the target for $2 billion-$3 billion in deposits by the end of 2027 remains intact, despite some seasonal fluctuations [38] Question: Deposit costs outlook - Management expects deposit costs to decrease over the year, with a lag in repricing relative to rate cuts [73]

Financial Data and Key Metrics Changes - The company reported earnings per share of $0.23 on a fully diluted GAAP basis and $0.41 on a core basis for Q4 2025 [3] - Net interest income grew by $5 million, or 5%, compared to the prior quarter, and increased by 14% year-over-year [4] - The net interest margin declined modestly to 2.87% compared to the previous quarter [4] - Total loans increased by $474 million, representing an 18% annualized growth rate, driven by $1 billion in originations [4] Business Line Data and Key Metrics Changes - The C&I business grew by 42% for the year, benefiting from talent recruitment and favorable borrower conditions [9] - Non-interest income decreased by $3.3 million to $9 million during the quarter, primarily due to lower title fees and a reduction in loan sale gains [11] - Total deposits increased by $528 million, with $323 million driven by organic growth across various business lines [10] Market Data and Key Metrics Changes - The company’s asset quality remained strong, with total loans classified as special mention and substandard decreasing by 10% to $112 million, or just 1% of total loans [5] - Non-performing loans to total loans stood at 0.2%, and non-performing assets to total assets were at 0.22% [14] Company Strategy and Development Direction - The company announced a merger agreement with Flushing Financial Corporation, which is expected to enhance organic growth initiatives in New York and improve profitability and operating scale [7] - The company aims to maintain a loan-to-deposit ratio under 100, with a focus on opportunistic earnings and robust deposit verticals [68] Management's Comments on Operating Environment and Future Outlook - Management expects high single-digit growth in net interest income for the year, despite the typical seasonal slowdown in Q1 [22] - The effective tax rate is expected to remain in the 23%-25% range quarterly, absent any changes in tax policy [16] - Management remains optimistic about continued organic growth efforts, as evidenced by the results of the current quarter [8] Other Important Information - The company did not repurchase any shares this quarter, as capital was utilized to support loan growth [7] - The quarterly cash dividend of $0.20 per common share marks the company's 116th consecutive quarterly cash dividend [7] Q&A Session Summary Question: Clarity on net interest income guidance - Management indicated that net interest income growth is expected to exceed loan balance growth due to the compounding effect of the larger balance sheet [21][22] Question: Commentary on loan sales post-merger - Management stated it is too early to provide precise figures on loan sales, but they expect to improve margins and reduce credit risk over time [23] Question: Expense line clarification - The recurring CRT premium expense is categorized under other expenses, similar to insurance premium expenses [24][25] Question: C&I growth expectations for 2026 - Management anticipates growth rates in the 7%-9% range for C&I, with a focus on talent recruitment and strong deposit growth [35] Question: Deposit growth outlook for Premier Banking - Management confirmed that the target for $2 billion-$3 billion in deposits by the end of 2027 remains intact, despite some seasonal fluctuations [38] Question: Deposit costs outlook for the year - Management expects deposit costs to continue decreasing, lagging behind rate cuts, and anticipates a steady improvement in margins [73][74]

Financial Data and Key Metrics Changes - The company reported earnings per share of $0.23 on a fully diluted GAAP basis and $0.41 on a core basis [3] - Net interest income grew by $5 million, or 5%, compared to the prior quarter, and increased by 14% compared to the prior year quarter [4] - The net interest margin declined modestly to 2.87% compared to the third quarter [4] - Total loans increased by $474 million, representing an 18% annualized growth rate, driven by $1 billion in originations [4][10] - Asset quality remained strong, with non-performing loans to total loans at 0.2% and non-performing assets to total assets at 0.22% [13] Business Line Data and Key Metrics Changes - The C&I business grew by 42% for the year, benefiting from talent recruitment and favorable conditions for borrowers [9] - Non-interest income decreased by $3.3 million to $9 million during the quarter, primarily due to lower title fees and a reduction in the gain on sale of loans [11] - Total deposits increased by $528 million, with $323 million driven by organic growth across various business lines [10] Market Data and Key Metrics Changes - The Premier Bank team grew deposits by $90 million, or 37%, from the linked quarter, with a weighted average cost of their deposit portfolio declining by 36 basis points to 2.28% [10] - Approximately 21% of the new deposits are in non-interest-bearing DDA accounts [10] Company Strategy and Development Direction - The company announced a merger agreement with Flushing Financial Corporation, which is expected to enhance organic growth initiatives in New York [6][7] - The merger is anticipated to improve profitability and increase operating scale, providing meaningful upside to shareholders [7] - The company remains focused on continued organic growth efforts, which have shown success in the current quarter [8] Management's Comments on Operating Environment and Future Outlook - Management expects high single-digit growth in net interest income for the year, despite the typical seasonal slowdown in Q1 [21] - The effective tax rate is expected to remain in the 23%-25% range quarterly, absent any changes in tax policy [16] - The company anticipates continued strong asset quality, with low levels of criticized and classified loans [13] Other Important Information - The company did not repurchase any shares this quarter, as capital was utilized to support loan growth [6] - The quarterly cash dividend of $0.20 per common share was approved, marking the 116th consecutive quarterly cash dividend [6] Q&A Session Summary Question: Clarity on net interest income guidance - Management indicated that net interest income growth will likely exceed loan balance growth due to the compounding effect of the larger balance sheet [21] Question: Commentary on loan sales post-merger - Management stated it is too early to provide precise figures on loan sales, as they are currently reviewing portfolios [22] Question: Expense line clarification - The recurring CRT premium expense is categorized under other expenses, similar to insurance premium expenses [23] Question: C&I growth expectations for 2026 - Management expects C&I growth rates to remain in the 7%-9% range, with strong deposit growth anticipated [35] Question: Deposit growth outlook for Premier Banking - Management confirmed the target of $2 billion-$3 billion in deposits by the end of 2027 remains intact [39] Question: Deposit costs outlook for the year - Management expects deposit costs to decrease, lagging behind rate cuts, and anticipates steady improvement in margins [76]

OceanFirst Financial Corp. 4Q 2025 Earnings Release Supplement(1) January 2026 (1) The 4Q 2025 Earnings Release Supplement should be read in conjunction with the Earnings Release furnished as Exhibit 99.1 to the Form 8-K filed with the SEC on January 22, 2026. OCEANFIRST BANK | January 22, 2026 Exhibit 99.2 . . . 1 OceanFirst Bank Legal Disclaimer . . . FORWARD LOOKING STATEMENTS. In addition to historical information, this presentation contains certain forward-looking statements within the meaning of the P ...

Core Financial Performance - The company reported net income available to common stockholders of $13.1 million, or $0.23 per diluted share, for Q4 2025, down from $20.9 million, or $0.36 per diluted share, in Q4 2024 [1] - For the year ended December 31, 2025, net income was $67.1 million, or $1.17 per diluted share, compared to $96.0 million, or $1.65 per diluted share, in 2024 [1] - Core earnings for Q4 2025 were $23.5 million, or $0.41 per diluted share, an increase from $22.1 million, or $0.38 per diluted share, in Q4 2024 [2] - Core earnings before taxes and provision for credit losses (PTPP) for Q4 2025 were $33.2 million, or $0.58 per diluted share, up from $29.6 million, or $0.51 per diluted share, in Q4 2024 [3] Loan and Deposit Growth - Total loans increased by $474.0 million, representing an 18% annualized growth rate, primarily driven by commercial loans [5] - Loan originations for the quarter were robust at $1.05 billion, with a strong loan pipeline of $474.1 million [5] - Total deposits increased by $898.1 million to $10.96 billion, with significant growth in time deposits and interest-bearing deposits [33] Net Interest Income and Margin - Net interest income rose by $4.6 million, or 5%, to $95.3 million for Q4 2025, with a net interest margin of 2.87%, up from 2.69% in Q4 2024 [5][9] - For the year ended December 31, 2025, net interest income increased to $360.2 million from $334.0 million, with a net interest margin of 2.90%, up from 2.72% [12] Capital and Equity - The estimated common equity tier one capital ratio was 10.7% as of December 31, 2025, indicating strong capital levels [5][35] - Total stockholders' equity decreased to $1.66 billion from $1.70 billion, primarily due to the redemption of preferred stock and capital returns [36] Asset Quality - Non-performing loans decreased to $27.8 million, representing 0.25% of total loans, down from 0.35% in the previous year [40] - The allowance for loan credit losses as a percentage of total non-performing loans increased to 301.27% from 207.19% [40] Strategic Initiatives - The company announced a merger agreement with Flushing Financial Corporation and an investment from Warburg Pincus to enhance financial performance and operational scale [4] - The anticipated closing of the merger transaction is expected in Q2 2026, subject to regulatory approvals and shareholder consent [4]