 NASDAQ: OCFC 1 OceanFirst Financial Corp. OceanFirst Financial Corp. John R. Garbarino, Chairman, President & CEO John R. Garbarino, Chairman, President & CEO Michael J. Fitzpatrick, Executive Vice President & CFO Michael J. Fitzpatrick, Executive Vice President & CFO INVESTOR PRESENTATION INVESTOR PRESENTATION FEBRUARY 2008 FEBRUARY 2008 Exhibit 99.1 |
 NASDAQ: OCFC 2 OceanFirst Financial Corp. OceanFirst Financial Corp. This presentation contains certain forward-looking statements 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”, or similar expressions. 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
the subsidiaries include, but are not limited to, changes in interest
rates, general economic conditions, 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, competition, demand for financial services in the Company’s market area and accounting principles and guidelines. These
risks and uncertainties 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.
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 NASDAQ: OCFC 3 OceanFirst Financial Today OceanFirst Financial Today Holding Company for the 106 year old financial services firm serving the community banking needs of the attractive Central New Jersey Shore growth market between the major metropolitan areas of New York City and Philadelphia $1.9 Billion in Assets – 20 OceanFirst Bank branches within a tightly defined market area and 1 satellite loan production office Emerging from an unfortunate foray into wholesale nonprime mortgage banking – Columbia Home Loans (CHL) Transitioning the Bank’s balance sheet to reduce a historical over- reliance on CD funding and residential mortgage portfolio lending Growing fee and service charge income through maturity of new business lines and continual product line expansion Responding to the Economic Environment, Governance, Compliance & Risk Management challenges of the day |
 NASDAQ: OCFC 4 Attractive Market Area Attractive Market Area |
 NASDAQ: OCFC 5 Ocean County – Ocean County – Fastest Growing County in NJ Fastest Growing County in NJ 558,000 people in Ocean County in 2005 • 9.3% increase since 2000 • Outpacing NJ (3.6% increase) • Outpacing US (5.3% increase) $52,065 Ocean County median household income in 2005 • 12.1% increase since 2000 83% Home Ownership in Ocean County • Outpacing NJ (65%) • Outpacing US (66%) Source: US Census Bureau |
 NASDAQ: OCFC 6 Ocean County Deposit Market Share Ocean County Deposit Market Share Total # of Deposits Market Bank Branches (000) Share % Commerce 20 $1,753,891 14.9 Wachovia 28 $1,729,790 14.7 Hudson City Savings 12 $1,687,719 14.3 Sovereign 26 $1,445,889 12.3 OceanFirst 16 $1,184,539 10.1 Bank of America 28 $1,049,874 8.9 Source: FDIC – Data as of June 30, 2007 |
 NASDAQ: OCFC 7 Growth Opportunities in Market Growth Opportunities in Market New Branches Committed Monmouth Freehold (2 Office) February 2008 Wall (2 nd Office) 2009 Ocean Bayville Q4 2008 Waretown Q4 2008 Toms River (2 Office) 2009 Toms River Headquarters nd nd |
 NASDAQ: OCFC 8 Ten Years Delivering Shareholder Value Ten Years Delivering Shareholder Value Average Annual/Total Shareholder Return (1996 – 2006) 15.6% Note: Data as of 9/30/06 prior to adverse effects of CHL nonprime mortgage
banking write-offs 25.8% 25.8% $10,313,000 $10,313,000 $1,376,000 $1,376,000 Fee and Service Charge Income Fee and Service Charge Income 10.2% 10.2% 14.1% 14.1% 6.0% 6.0% ROE ROE 13.2% 13.2% .80 .80 .27 .27 Annual Dividend Annual Dividend 11.9% 11.9% $1.58 $1.58 $.59 $.59 EPS EPS CAGR CAGR Last 12 Months Last 12 Months Sept. 30, 2006 Sept. 30, 2006 Year Ended Year Ended Dec. 31, 1997 Dec. 31, 1997 10.3% 10.3% 825,158,000 825,158,000 317,070,000 317,070,000 Core Deposits Core Deposits 9.8% 9.8% $1,714,760,000 $1,714,760,000 $690,306,000 $690,306,000 Total Loans Total Loans CAGR CAGR 9/30/2006 9/30/2006 12/31/1996 12/31/1996 |
 NASDAQ: OCFC 9 Loans Loans Sold Sold – – 1/1/06 1/1/06 – – 6/30/07 6/30/07 -0- -0- CHL – CHL – Nonprime Lending Meltdown Nonprime Lending Meltdown - - 93.1% of Total Exposure Covered by all 93.1% of Total Exposure Covered by all Negotiated Settlements, $447.2 Million Negotiated Settlements, $447.2 Million $ 10.7 Million $ 10.7 Million Loss on Sale and Market Writedown on Nonprime Loss on Sale and Market Writedown on Nonprime Loans Loans – – 2007 2007 $ 13.1 Million $ 13.1 Million Total Total Provision Provision for for Repurchased Repurchased Loans Loans – – 2006 2006 and and 2007 2007 $ 2.0 Million $ 2.0 Million Reserve for Repurchased Loans at January 31, 2008 Reserve for Repurchased Loans at January 31, 2008 $ $ Repurchase Requests Outstanding at January 31, 2008 Repurchase Requests Outstanding at January 31, 2008 $68.1 Million $68.1 Million Loans Repurchased and Retained Loans Repurchased and Retained $ 2.5 Million $ 2.5 Million Loans Repurchased and Resold Loans Repurchased and Resold $12.2 Million $12.2 Million Individual Settlements Individual Settlements $ 4.5 Million $ 4.5 Million Comprehensive Settlements Comprehensive Settlements $48.9 Million $48.9 Million $ 68.1 Million $ 68.1 Million Repurchase Requests Received and Resolved: Repurchase Requests Received and Resolved: $480.2 Million $480.2 Million |
 NASDAQ: OCFC 10 Mortgage Banking Cyclicality – Mortgage Banking Cyclicality – Ends Disastrously Ends Disastrously CHL Quarterly EPS Contribution -0.80 -0.70 -0.60 -0.50 -0.40 -0.30 -0.20 -0.10 0.00 0.10 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 2001 2002 2003 2004 2005 2006 2007 |
 NASDAQ: OCFC 11 0 500 1000 1500 2000 2500 Total Assets 2007 Balance Sheet Has Contracted 2007 Balance Sheet Has Contracted At December 31. |
 NASDAQ: OCFC 12 0 200 400 600 800 1000 1200 1400 1600 Core Deposits CD's 2007 CD Runoff 2007 CD Runoff At December 31. Core deposits include all deposits other than certificates.
Core Deposits Stable |
 NASDAQ: OCFC 13 2007 Mortgage Portfolio Runoff 2007 Mortgage Portfolio Runoff At December 31. Consumer & Commercial Growth 0 200 400 600 800 1000 1200 1400 1600 1800 2000 Consumer Commercial Mortgage |
 NASDAQ: OCFC 14 In this Environment……Managing Carefully In this Environment……Managing Carefully Recovering from CHL shutdown Enterprise-wide Risk Management matures Exercise discipline/restraint in growth initiatives Take what the market gives without forcing growth Issue Tier II debt to supplement Capital needs |
 NASDAQ: OCFC 15 Current External Challenges Current External Challenges Looming recession – economic uncertainty Aggressive CD pricing dominating consumer choice Margin pressure from depositor preference shift Credit market turmoil remains Tenuous credit quality – real estate valuations |
 NASDAQ: OCFC 16 Three Year Business Plan Imperatives Three Year Business Plan Imperatives Focus on disciplined de novo branch and core account development to support the margin, drive asset/revenue growth Target commercial lending as the focus of portfolio growth, further improving the loan portfolio mix Grow non-interest income, a key driver of top-line revenue, through re-adjustment and maturation of business initiatives Improve operating efficiency through both revenue enhancement and expense control following the shuttering of CHL Deliver all financial services within the Bank’s existing geographic market under the strong sales, service and credit cultures • Capitalizing on the unique advantage of being the local community service minded alternative to mega-banks • Benefiting in market from TD Bank/Commerce A challenging return to double-digit EPS growth rates
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 NASDAQ: OCFC 17 Targets Need to Reset Targets Need to Reset Commercial & Consumer Loan Mix 35% 38% Revenue Mix (percent of total revenue) • Fee and Service Charge (4Q 07) 17% 20% Balance Sheet transformation will drive goal of EPS growth 2007 2010 Core Deposit Mix 65% 70% |
 NASDAQ: OCFC 18 Core Deposit Funding Core Deposit Funding 20 Branches within a tightly defined footprint provide significant presence, market share TD Bank/Commerce removes toughest retail competitor Disciplined de novo branching and core deposit generation • Over 12 years, 12 branches were opened with an average core deposit mix of 70% Recent branch activity in our growth market • New Branches in Barnegat and Little Egg Harbor • Whiting branch successfully relocated • 2008 – 2009 – 5 offices committed Potential De Novo Bank Acquisitions |
 NASDAQ: OCFC 19 Non-Interest Income Initiatives Non-Interest Income Initiatives Largest reverse mortgage originator headquartered in NJ, one of a handful of select, nationwide FNMA seller/servicers • Generating $1.1 million in fee income in 2007 and growing rapidly in fertile market Trust Department revenues continue to grow • $1.3 million in 2007 • $126 million assets under management Internalizing the sale of non-insured alternative investment products currently outsourced to third party provider • $1.2 million in 2007 |
 NASDAQ: OCFC 20 Credit Risk Supported by Portfolio Composition Credit Risk Supported by Portfolio Composition Commercial Lending • Diversified, low risk $381 million portfolio Commercial real estate - 86% $542,000 average C & I - 14% $138,000 average Only 8 large relationships, $7 to $13.2 million exposures Limited exposure to residential construction lending • No large, speculative subdivisions Strong credit quality indicators through 4Q 07 • Non-performing loans total $8.7 million (52 bps of total loans receivable)
$4.0 million – loans aggressively written down following 2007 market retreat • Net charge-offs of only $470,000 for 2007 • Net charge-offs averaged only 3 bps of net loans over past 10 years
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 NASDAQ: OCFC 21 0 2000 4000 6000 8000 10000 12000 14000 16000 18000 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 0 5 10 15 20 25 Cumulative Repurchases Capital Ratio As of December 31. Share Repurchase Plans – Share Repurchase Plans – Capital Leveraged Capital Leveraged 6.4% |
 NASDAQ: OCFC 22 Repurchase Program Supporting EPS Growth Repurchase Program Supporting EPS Growth Repurchased 17.0 million shares in total; 62% of original issue Current authority for repurchase of 489,000 shares Current program funding capability with issuance of Tier II Capital • $5.0 million of subordinated debt issued in 2005 • $12.5 million of trust preferred securities issued during 2006 • $10.0 million of trust preferred securities issued during 2007 • Potential for issuance of additional $10.0 million |
 NASDAQ: OCFC 23 Building Additional Shareholder Value Building Additional Shareholder Value In the long run, we hope you agree the following undoubtedly create value for the long term OCFC investor: • Maturing Enterprise-wide Risk Management commitment rebuilds OceanFirst credibility to effectively manage risk • Lower risk, streamlined business plan without Mortgage Banking subsidiary, providing quality earnings growth • Attractive cash dividend and potential share repurchases proactively manage capital and support EPS • Franchise Value is enhanced in
Central New Jersey Shore Growth Market • Strong Total Shareholder
Returns are restored for the OCFC investor |
 NASDAQ: OCFC 24 Thank you for your Thank you for your interest in interest in OceanFirst OceanFirst Financial Corp. Financial Corp. |