DOCSLIB.ORG

Oceanfirst Financial Corp. Investor Presentation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Oceanfirst Financial Corp. Investor Presentation OceanFirst Financial Corp. Investor Presentation May 2021 INVESTOR PRESENTATION . 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, general economic conditions, public health crises (such as governmental, social and economic effects of the novel coronavirus), levels of unemployment in the Bank’s lending area, real estate market values in the Bank’s lending area, future natural disasters and increases to flood insurance premiums, increased defaults as a result of economic disruptions caused by novel coronavirus, the level of prepayments on loans and mortgage-backed securities, legislative/regulatory changes (particularly with respect to the novel coronavirus), 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, accounting principles and guidelines 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, 2020, 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. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results. No Offer or Solicitation: The Presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue, or the solicitation of an offer to purchase, subscribe to or acquire, securities of the Company, or an inducement to enter into investment activity in the United States or in any other jurisdiction in which such offer, solicitation, inducement or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction. No part of this Presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any . contract or commitment or investment decision whatsoever. M A Y | 2021 2 INVESTOR PRESENTATION . OceanFirst Financial Corp. • NASDAQ: OCFC • Market Cap: $1.36 billion1 • Bank Holding Company with National Bank Subsidiary • Founded in 1902 • Total Assets of $11.6 billion2 • 58 Full-Service Branches in New Jersey and Metropolitan New York City1 Headquarters OceanFirst Bank Branches OceanFirst Bank Loan Offices . M A Y | 2021 1 As of April 28, 2021 2 As of March 31, 2021 3 INVESTOR PRESENTATION . Investment Thesis – Well Positioned for the Post-COVID-19 Environment • Strength of Assets • Balance sheet de-risked with executed loan sales, resolution of substantially all full forbearance loans, and extinguishment of high-cost borrowings • Organic Growth Including Low-Cost and Durable Deposit Base • Cost of deposits is low at 37 basis points (bps), and is projected to fall • Digital Innovation • Digital products and customer experience on par with national banks and FinTechs, outpacing regional and community banks • Disciplined and Strategic M&A • Acquired attractive and underappreciated assets in exurban markets at favorable prices • Bench Strength • Deep banking, regulatory, M&A, and integration experience • Demonstrated strong pandemic response • Conservative Risk Culture • Commitment to management of credit, interest rate and regulatory/compliance risk . • Insider Ownership M A Y | 2021 • Meaningful insider ownership aligned with shareholder interest 4 INVESTOR PRESENTATION . First Quarter 2021 Results Financial Results Strategic and Operational Focus • Net interest margin of 2.93% • COVID-19 on-going initiatives for • Record loan originations of $748 employees, customers, and million in Q11 community • Loan pipeline of $344 million at March • Recommit resources to core 31, 2021 businesses, loan growth, and customer service • Total deposit costs decreased by 8bps from Q4 to Q1 to 37bps • Expanded commercial banking team to support organic growth and deploy • Gain of $8.1 million realized by selling excess liquidity yield-focused common stock equity portfolio • Considering a common share repurchase plan and M&A opportunities as they arise to improve operating scale2 . M A Y | 2021 1 Excludes PPP loan originations of $60 million 2 Repurchased 500,000 shares at a weighted average cost of $19.94 in Q1 5 INVESTOR PRESENTATION . Net Interest Margin Operational Highlights Net Interest Margin2 • Non-interest bearing deposits 4.50 are 23% of average balance of 4.00 1 total deposits 3.50 3.17 • An extraordinary surplus of 3.00 3.10* liquidity will temporarily weigh 2.50 on margins until the excess cash can be prudently deployed 2.00 1.50 1.00 0.50 0.09 0.00 2014 2015 2016 2017 2018 2019 2020 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 OceanFirst Bank Peer Average * OceanFirst Bank Q4 NIM includes excess liquidity . M A Y | 2021 1 Based on average balances for the three months ended March 31, 2021 2 Source: Bank Reg Data as of December 31, 2020 6 INVESTOR PRESENTATION . Deposit Growth with Branch Consolidation Total Deposits Per Branch1 10,000 9,000 150 Average Deposits Branch Per ($ Millions) Strength and Durability of Low- 8,000 125 Cost Deposit Position: 7,000 • $153 million average branch size as of 6,000 100 March 31, 2021, doubling in size over 5,000 the past 5 years 75 Total Deposits ($ Millions) 4,000 • Core deposits represent 88%2 of total 3,000 50 deposits, with a cost of deposits of 37 2,000 basis points 25 1,000 0 0 2015 2016 2017 2018 2019 2020 2021 Total Deposits Average Deposits Per Branch . M A Y | 2021 1 All periods as of December 31, except 2021 which is as of March 31 2 All deposits except certificates of deposits 7 INVESTOR PRESENTATION . Loan Composition Emphasizes Commercial1 Total Loans Outstanding Loans by Customer Segment 2016 2017 32% 68% 2018 2019 Commercial Consumer 2020 2021 Loans by State Consumer Commercial 17% $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 NY (in millions) Residential Home Equity & Consumer Investor CRE Owner Occupied CRE C&I Loans 68% NJ 15% PA . and Other M A Y | 2021 1 All periods as of December 31, except 2021 which is as of March 31 8 INVESTOR PRESENTATION . Generating Consistent & Attractive Returns 16.0% 1.50% 1.35% 14.0% 1.20% 12.0% 1.05% Core Return Assetson 10.0% 0.90% 8.0% 0.75% 0.60% 6.0% 0.45% 4.0% 0.30% 2.0% Core Return Tangible on Stockholders’ Equity 0.15% 0.0% 0.00% 2016 1 2017 1 2018 1 2019 1 2020 1, 2 2021 1, 3 Core Return on Tangible Stockholders' Equity Core Return on Assets 1 For 2016 to 2021, excludes merger related expenses. For 2016, also excludes Federal Home Loan Bank (“FHLB”) prepayment fees and loss on sale of investment securities. For 2017 to 2021, also excludes the effect of branch consolidation expense. For 2017 and 2018, also excludes the effect of additional income tax expense (benefit) related to the Tax Cuts and Jobs Act. For 2019, also excludes the effect of compensation expense due to the retirement of an executive officer, non-recurring professional fees, and income tax benefit related to change in New Jersey tax code. For 2020, also excludes the net gain on . equity investments, FHLB prepayment fees, gain on sale of PPP loans and the Two River and Country opening credit loss expense under the CECL model. For 2021, also excludes net gain on equity investments. M A Y | 2021 2 For 2020, returns adversely impacted by COVID-19. 3 For 2021, Q1 results are annualized. 9 INVESTOR PRESENTATION . Credit Metrics Reflect Conservative Culture Non-Performing Loans by Source as a Percent of Loans Receivable NET CHARGE-OFFS 0.15% 0.10% 0.05% 0.02% 0.24%1 NM2 0.60% 0.52% 0.50% 0.47% 0.43% 0.40% 0.35% 0.31% 0.30% 0.29% Receivable 0.20% Performing Loans as Percent Total of Loans 0.10% - Non 0.00% 2016 2017 2018 2019 2020 2021 Residential Consumer Commercial Real Estate Commercial & Industrial . 1 Core net charge-offs (which exclude net charge-offs of $17.8 million related to higher risk commercial loans and the sale of under-performing M A Y | 2021 residential/consumer loans sold), were 0.01% of total loans 2 Not meaningful; $280,000 in net recoveries for the three months ended March 31, 2021 10 INVESTOR PRESENTATION . Asset Growth Supplemented by Strategic M&A Opportunistic Acquisitions of Local Community Banks Target Closing Date Transaction Value Total Assets Colonial American Bank July 31, 2015 ~$12 million $142 million Cape Bancorp May 2, 2016 ~$196 million $1,518 million Ocean Shore Holding Co.
Load more

Recommended publications
  • View Annual Report
    ✪ Headquarters New York Hunterdon Somerset Philadelphia Philadelphia OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank, a community-oriented financial institution offering a wide variety of financial services to meet the needs of the communities it serves throughout the region. The Bank provides commercial and residential financing solutions, wealth management, and deposit services. OceanFirst Bank is the fourth largest New Jersey-based banking institution by deposit market share. FINANCIAL SUMMARY (dollars in thousands, except per share amounts) At or for the year ended December 31, 2017 2016 2015 2014 Selected Financial Condition Data: Total assets $5,416,006 $5,166,917 $2,593,068 $2,356,714 Loans receivable, net 3,965,773 3,803,443 1,970,703 1,688,846 Deposits 4,342,798 4,187,750 1,916,678 1,720,135 Stockholders’ equity 601,941 571,903 238,446 218,259 Selected Operating Data: Net interest income 169,218 120,262 76,829 72,348 Other income 27,072 20,412 16,426 18,577 Operating expenses(1) 126,520 102,852 60,775 57,764 Net income(1) 42,470 23,046 20,322 19,920 Diluted earnings per share(1) 1.28 0.98 1.21 1.19 Selected Financial Ratios: Tangible stockholders’ equity per share 13.58 12.94 13.67 12.91 Cash dividend per share 0.60 0.54 0.52 0.49 Tangible stockholders’ equity to total tangible assets 8.42% 8.30% 9.12% 9.26% Return on average assets(1) 0.80 0.62 0.82 0.86 Return on average tangible stockholders’ equity(1) 9.82 7.13 8.96 9.18 Net interest rate spread 3.41 3.38 3.18 3.23 Net interest rate margin 3.50
    [Show full text]
  • Oceanfirst Financial Corp. 2016 Annual Report
    2016 ANNUAL REPORT OCEANFIRST FINANCIAL CORP. operates as the holding company for OceanFirst Bank, a community-oriented financial institution offering a wide variety of financial services to meet the needs of the communities it serves throughout central and southern New Jersey. The Bank provides commercial and residential financing solutions, wealth management, and deposit services. OceanFirst Bank is the fourth largest New Jersey-based banking institution by deposit market share. New York Philadelphia ✪ Philadelphia Headquarters Retail Branches, Loan Production Offices, and Wealth Management Offices FINANCIAL SUMMARY (dollars in thousands, except per share amounts) At or for the year ended December 31, 2016 2015 2014 2013 SELECTED FINANCIAL CONDITION DATA: Total assets $5,167,052 $2,593,068 $2,356,714 $ 2,249,711 Loans receivable, net 3,803,443 1,970,703 1,688,846 1,541,460 Deposits 4,187,750 1,916,678 1,720,135 1,746,763 Stockholders’ equity 572,038 238,446 218,259 214,350 SELECTED OPERATING DATA: Net interest income 120,262 76,829 72,348 70,529 Other income 20,412 16,426 18,577 16,458 Operating expenses(1) 102,852 60,775 57,764 59,244 Net income(1) 23,046 20,322 19,920 16,330 Diluted earnings per share(1) 0.98 1.21 1.19 0.95 SELECTED FINANCIAL RATIOS: Tangible stockholders’ equity per share 12.95 13.67 12.91 12.33 Cash dividend per share 0.54 0.52 0.49 0.48 Tangible stockholders’ equity to total tangible assets 8.30% 9.12% 9.26% 9.53 % Return on average assets(1) 0.62 0.82 0.86 0.71 Return on average tangible stockholders’ equity(1) 7.13 8.96 9.18 7.51 Net interest rate spread 3.38 3.18 3.23 3.16 Net interest rate margin 3.47 3.28 3.31 3.24 Operating expenses to average assets(1) 2.76 2.47 2.50 2.58 Efficiency ratio(1) 73.11 65.17 63.53 68.11 Non-performing loans as a percent of total loans receivable 0.35 0.91 1.06 2.88 (1) Amounts and performance ratios for 2016 include merger related expenses of $16.5 million and an advance prepayment fee of $136,000 with a combined after-tax cost of $11.8 million, or $0.51 per diluted share.
    [Show full text]
  • Jill A. Hewitt Senior Vice President Oceanfirst Financial Corp. 1.888.623.2633 Ext. 7513 [email protected]
    Company Contact: Jill A. Hewitt Senior Vice President OceanFirst Financial Corp. 1.888.623.2633 ext. 7513 [email protected] OCEANFIRST BANK ANNOUNCES INITIATIVES TO ASSIST CUSTOMERS, EMPLOYEES AND COMMUNITIES AFFECTED BY COVID-19 RED BANK, NEW JERSEY, MARCH 16, 2020….OceanFirst Bank N.A. (“OceanFirst” or the “Bank”), the wholly owned subsidiary of OceanFirst Financial Corp. (NASDAQ:OCFC), today announced a series of precautionary measures intended to mitigate the impact of the COVID-19 virus outbreak on its customers, employees and communities. The measures will be re-evaluated as circumstances require. “As a community-based financial institution, we believe OceanFirst can and should extend a helping hand to our customers, employees and neighbors at this difficult time,” noted Christopher D. Maher, OceanFirst Chairman, President and Chief Executive Officer. “We are offering payment relief to affected borrowers, adjusting branch operations to help protect the health and safety of customers and employees while maintaining access to our services, providing additional paid time off for employees who may be impacted, and supporting local schools and non-profit organizations through OceanFirst Foundation grant programs. Our experience during other periods of extreme hardship, such as Superstorm Sandy, is that these efforts are an important lifeline that help our customers, employees and neighbors – and our Company – stay resilient and come back stronger.” Borrower Relief Program - Businesses OceanFirst is offering to defer certain loan payments for up to 90 days for the most seriously impacted categories of business borrowers, as described below. Current OceanFirst business borrowers who wish to request relief are encouraged to call their Commercial Loan relationship officer.
    [Show full text]
  • OCEANFIRST FINANCIAL CORP. (Exact Name of Registrant As Specified in Its Charter)
    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): January 19, 2021 OCEANFIRST FINANCIAL CORP. (Exact name of registrant as specified in its charter) Delaware 001-11713 22-3412577 (State or other jurisdiction of (Commission (IRS Employer incorporation or organization) File No.) 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 Depositary Shares (each representing a 1/40th interest in a share of 7.0% Series A Non-Cumulative, perpetual preferred OCFCP NASDAQ stock) 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).
    [Show full text]
  • 2019 0725 Susanne Svizeny Oceanfirst Bank Regional
    Susanne Svizeny Greater Philadelphia Regional President OceanFirst Bank N.A. Susanne Svizeny joined OceanFirst Bank as the Regional President for Greater Philadelphia in May 2019. She is responsible for leading OceanFirst’s expansion in Pennsylvania and western New Jersey. Susanne and her growing team are focused on delivering full-service banking solutions and have particular expertise working with businesses to provide customized financial services including commercial financing. An executive with decades of banking experience serving the Philadelphia region, prior to joining OceanFirst, Ms. Svizeny was most recently Executive Vice President & Division Manager, Commercial Banking, at Wells Fargo Bank, N.A. Under her leadership, the Division established and managed a portfolio of more than 700 relationships. During her tenure at Wells Fargo, Ms. Svizeny founded the Women’s Market Growth strategy for Middle Market Banking and was appointed to lead the Middle Market Banking Diversity and Inclusion Council. Ms. Svizeny is actively committed to giving back to the community and serves on the Board of Directors and Executive Committee of the Chamber of Commerce for Greater Philadelphia as well as the CEO Council for Growth. She is a graduate of The College of New Jersey and is serving her second term as Chair of Board of Trustees. About OceanFirst Bank N.A. OceanFirst Bank is a rising New Jersey-based bank that is expanding into greater Philadelphia and metropolitan New York City. OceanFirst is the second largest commercial bank headquartered in New Jersey and has grown from $2+ billion in 2014 to over $8 billion as of March 2019. OceanFirst Bank was founded in 1902 in Point Pleasant Beach, New Jersey.
    [Show full text]
  • Paul Chetcuti, Et Al. V. Sun Bancorp, Inc., Et Al. 17-CV-07329-Class
    Case 1:17-cv-07329-RMB-KMW Document 1 Filed 09/21/17 Page 1 of 15 PageID: 1 UNITED STATES DISTRICT COURT FOR THE DISTRICT OF NEW JERSEY PAUL CHETCUTI, individually and on behalf ) of all others similarly situated, ) ) Plaintiff, ) ) C.A. No. ______________ v. ) ) JURY TRIAL DEMANDED SUN BANCORP, INC., JEFFREY S. BROWN, ) SIDNEY R. BROWN, ANTHONY R. COSCIA, ) F. CLAY CREASEY, PETER GALETTO, JR., ) ELI KRAMER, JAMES B. LOCKHART III, ) WILLIAM J. MARINO, THOMAS M. ) O’BRIEN, KEITH STOCK, and GRACE C. ) TORRES, ) ) Defendants. ) ) CLASS ACTION COMPLAINT FOR VIOLATION OF SECTIONS 14(a) AND 20(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Plaintiff Paul Chetcuti (“Plaintiff”), by his attorneys, alleges upon information and belief, except for her own acts, which are alleged on knowledge, as follows: INTRODUCTION 1. Plaintiff brings this action on behalf of himself and the public stockholders of Sun Bancorp, Inc. (“Sun” or the “Company”) against Sun’s Board of Directors (collectively, the “Board” or the “Individual Defendants,” as further defined below) for their violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “1934 Act”), and Rule 14a-9 promulgated thereunder (“Rule 14a-9”). 2. On June 30, 2017, OceanFirst Financial Corp. (“OceanFirst”) and the Company announced that they had entered into a definitive agreement that day (“Merger Agreement”) under which OceanFirst will acquire all of the outstanding shares of Sun in a cash and stock transaction 1 Case 1:17-cv-07329-RMB-KMW Document 1 Filed 09/21/17 Page 2 of 15 PageID: 2 (the “Proposed Transaction”).
    [Show full text]
  • Navigating Uncertainty
    WINTER 2010 NEW JERSEY BANKER Navigating Economic Uncertainty The View Back, the Way Ahead Inside: Trends in Banking Gen Y The Case Against Social Media BankHorizons 2009 / Banks and Credit Ratings / Board Portals ENDORSED BY THE NEW JERSEY BANKERS ASSOCIATION New Jersey Bankers Association www.njbankers.com / www.njleague.com NEW JERSEY 411 North Avenue East BANKER Cranford, NJ 07016-2436 Phone: 908-272-8500 Fax: 908-272-6626 NJBankers Board of Directors Steven E. Brady Joseph F. Dempsey, Jr. Anthony Labozzetta William D. Moss Kevin Tylus President/Chief Executive Officer President Executive Vice President President/Chief Executive Officer Regional President Ocean City Home Bank New Jersey Middle Market Banking Mid-Atlantic Retail Division Two River Community Bank PNC Bank, N.A. JPMorgan Chase Bank, N.A. TD Bank, N.A. Peter M. Brown Robert Ranzinger, Sr. Chris Van Der Stad President/Chief Executive Officer Peter A. Dontas Margaret Lanning President/Chief Executive Officer President/Chief Executive Officer Manasquan Savings Bank Market Executive Senior Vice President/ Wawel Savings Bank New Millennium Bank Bank of America Senior Regional Credit Officer Walter Celuch Northeast Region Eugene W. Rogers Norman E. Beatty President/Chief Executive Officer Elizabeth E. Hance Wachovia Bank, N.A. Chief Executive Officer Immediate Former Co-Chairman Clifton Savings Bank President/Chief Executive Officer Newfield National Bank Chairman/President/ Magyar Bank Kevin M. Lenihan Chief Executive Officer Joseph Coccaro President/Chief Executive Officer D. Russell Taylor First Hope Bank President/Chief Executive Officer David J. Hemple Indus American Bank President/Chief Executive Officer Bogota Savings Bank President/Chief Executive Officer RSI Bank John H.
    [Show full text]
  • 2019 Form 10-K
    2019 Form 10-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______. Commission file number: 001-11713 OceanFirst Financial Corp. (Exact name of registrant as specified in its charter) DELAWARE 22-3412577 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 110 West Front Street, Red Bank, New Jersey 07701 (Address of principal executive offices) (Zip Code) (732) 240-4500 Registrant’s telephone number, including area code: 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 YES NO • if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. • if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. • whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. • whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
    [Show full text]
  • Oceanfirst Financial Corp. Annual Report 2009
    OceanFirst Financial Corp. (OCFC) 2009 Annual Report OceanFirst Financial Corp. OceanFirst Financial Corp. Annual Report 2009 975 Hooper Avenue Toms River, NJ 08754-2009 732-240-4500 www.oceanfirst.com NASDAQ • OCFC Member FDIC • Equal Housing Lender • Equal Opportunity Lender Shareholder Information OceanFirst Bank, the subsidiary of ADMINISTRATIVE OFFICES STOCK TRANSFER AGENT AND REGISTRAR 975 Hooper Avenue Shareholders wishing to change the name, address or OceanFirst Financial Corp., is located Toms River, NJ 08754-2009 ownership of stock, to report lost certificates or to consoli- in the central coastal area of (732)240-4500 date accounts are asked to contact the Company’s stock www.oceanfirst.com registrar and transfer agent directly: New Jersey between the major ANNUAL MEETING OF SHAREHOLDERS American Stock Transfer & Trust Co. metropolitan cities of New York The Annual Meeting of Shareholders will be held on May Shareholder Relations Department 59 Maiden Lane and Philadelphia. With 6, 2010 at 10:00 a.m. at Crystal Point Yacht Club, 3900 River Road, Point Pleasant, New Jersey. New York, NY 10038 (800)937-5449 administrative offices in INVESTOR RELATIONS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Toms River, New Jersey, Copies of the Company’s earnings releases and financial publications, including the annual report on Form 10-K KPMG LLP OceanFirst provides financial (without exhibits) filed with the Securities and Exchange 150 John F. Kennedy Parkway services to retail and business Commission are available without charge by contacting: Short Hills, NJ 07078 Jill Apito Hewitt, Senior Vice President, Extension 7516 or SECURITIES COUNSEL customers throughout the [email protected] Locke, Lord, Bissell & Liddell LLP Jersey Shore market.
    [Show full text]
  • Oceanfirst Financial Corp. 2019 Annual Report At-A-Glance
    OCEANFIRST FINANCIAL CORP. 2019 ANNUAL REPORT AT-A-GLANCE $10.2 $8.2 $7.5 $5.4 $5.2 % % 56 44 $2.6 2015 2016 2017 2018 2019 Jan 2020 Total Assets Loan Portfolio (in Billions) ■ Commercial ■ Consumer January 2020 2019 2019 $10.2 $104.8 $2.07 TOTAL ASSETS CORE NET INCOME* CORE EPS* (in Billions) (in Millions) $7.5 $94.1 $1.98 2018 2018 2018 * Please refer to footnote on page 2. Westchester Long Island Bronx Essex Union Hunterdon Middlesex Monmouth Bucks Mercer Montgomery Ocean Chester Burlington Philadelphia Delaware Camden Gloucester OceanFirst Financial Corp.’s New Castle subsidiary, OceanFirst Bank N.A., Atlantic founded in 1902, is a regional bank operating throughout New Jersey, greater Philadelphia and metropolitan New York City. OceanFirst Bank Cumberland delivers commercial and residential Cape May financing solutions, trust and asset management and deposit services. OceanFirst Financial Corp. (NASDAQ: OCFC) 2019 Annual Report | 1 FINANCIAL SUMMARY (dollars in thousands, except per share amounts) At or for the year ended December 31, 2019 2018 2017 2016 SELECTED FINANCIAL CONDITION DATA Total assets $8,246,145 $7,516,154 $5,416,006 $5,166,917 Loans receivable, net 6,207,680 5,579,222 3,965,773 3,803,443 Deposits 6,328,777 5,814,569 4,342,798 4,187,750 Stockholders’ equity 1,153,119 1,039,358 601,941 571,903 SELECTED OPERATING DATA Net interest income 255,971 240,502 169,218 120,262 Other income 42,165 34,827 27,072 20,412 Operating expenses (1) 189,142 186,337 126,520 102,852 Net income (1) 88,574 71,932 42,470 23,046 Diluted earnings
    [Show full text]
  • Oceanfirst Financial Corp. Investor Day August 5, 2021
    OceanFirst Financial Corp. Investor Day August 5, 2021 110 West Front Street Red Bank, New Jersey NASDAQ: OCFC Forward Looking Statements In addition to historical information, this presentation/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: the impact of the COVID-19 pandemic on our operations and financial results and those of our customers, changes in interest rates, general economic conditions, levels of unemployment in the Bank’s lending area, real estate market values in the Bank’s lending area, future natural disasters and increases to flood insurance premiums, 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, competition, demand for financial services in the Company’s market area, accounting principles and guidelines and the Bank’s ability to successfully integrate acquired operations.
    [Show full text]
  • Oceanfirst Financial Corp. Investor Presentation
    OceanFirst Financial Corp. Investor Presentation September 2020 INVESTOR PRESENTATION . 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, general economic conditions, public health crises (such as governmental, social and economic effects of the novel coronavirus), levels of unemployment in the Bank’s lending area, real estate market values in the Bank’s lending area, future natural disasters and increases to flood insurance premiums, increased defaults as a result of economic disruptions caused by novel coronavirus, the level of prepayments on loans and mortgage-backed securities, legislative/regulatory changes (particularly with respect to the novel coronavirus), 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, accounting principles and guidelines and the Bank’s ability to successfully integrate acquired operations.
    [Show full text]