. . .

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.

• : 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 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 Millions) ($ Per Branch Deposits Average 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

TotalDeposits ($ 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% onAssets Return Core 10.0% 0.90%

8.0% 0.75%

0.60% 6.0% 0.45% 4.0% 0.30% 2.0%

CoreReturn 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 asPercent 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. November 30, 2016 ~$146 million $1,097 million

Sun Bancorp, Inc. January 31, 2018 ~$475 million $2,044 million

Capital Bank of New Jersey January 31, 2019 ~$77 million $495 million

Two River Bancorp January 1, 2020 ~$197 million $1,109 million Country Bank Holding January 1, 2020 ~$113 million $798 million Company Inc. Weighted average1: Price/Tangible Book Value 158%; Core Deposit Premium 9.0%

. . . M A Y | 2021 11 1At time of announcement. INVESTOR PRESENTATION . . . New Jersey Expansion Opportunities

• New Jersey is an attractive market 1 • Statewide Total Population of 8.9 million • Most densely populated state • 11th most populous state • Median household income of $72,000

• Significant opportunities for acquisitions to build customer base

• Support expansion in Metropolitan Population of 4.3 million and Metropolitan New York with deposits of $130 billion

Headquarters OceanFirst Bank Branches OceanFirst Bank Loan Offices . . . M A Y | 2021 12 1 US Census Bureau INVESTOR PRESENTATION . . . Regional Opportunities for M&A

10% of the total population of the United States resides within a 2-hour drive of Headquarters

Philadelphia Area Metro Area • 5 Banks with Assets Between $400 million • 4 Banks with Assets Between $400 million and and $1 billion $1 billion • 10 Banks with Assets Between $1 billion • 7 Banks with Assets Between $1 billion and $10 and $10 billion billion New Jersey • 11 Banks with Assets Between $400 million and $1 billion • 15 Banks with Assets Between $1 billion and $10 billion Headquarters . . . OceanFirst Bank Branches OceanFirst Bank Loan Offices M A Y | 2021 Regional banking data as of June 30, 2020 13 Source: FDIC INVESTOR PRESENTATION . . . Digital Transformation

Continuous Investment in Talent and Technology • Funded from ongoing earnings and branch consolidations

2015 2016 2017 2018 2019 2020 2021

Mobile Launch Nest Egg Omni-Channel 1st FinTech Equity Reputation Nest Egg AUM: Mobile Biometrics Responsive Hybrid Robo- Customer Care Investment Management $109 million Online Banking Advisor Platform

Wearables & Certified Digital 100% Certified Mobile Account 1st Dual Function Account Opening eWallets Banker Training Digital Bankers Opening ITMs by Phone

Best Rated Digital Bank in NJ!*

Paperless Residential Loan Applications (Blend) 2015 FTE 2021 FTE

. . . 7 81 M A Y | 2021 *Source: ratings from Google My Business, Google App Store, and Apple App Store 14 INVESTOR PRESENTATION . . . Digital Capabilities & Customer Ratings

Mobile Capabilities Survey Mobile App Customer Ratings (# of features, out of 18) (Apple and Google)

OceanFirst 14 OceanFirst 4.8 # Ratings = 6,964

National / National / Regional 4.5 12 Regional Large MidAtlantic 4.5 FinTechs / 11 Digital FinTechs / Digital 4.5

Large 11 MidAtlantic Proxy Peer Group 4.2 Median # Ratings = 2,189

• A few notables include: • A few notables include: • BofA 17 • USAA 4.8 • Chase 16 • Chime 4.7 • USAA 14 • Chase 4.7 . . . • TD 8 • M&T 4.1 M A Y | 2021 Source: S&P Global 2019 US Mobile Banking Report Source: iTunes App and Google App as of April 9, 2021 15 INVESTOR PRESENTATION . . . Digital Customer Acquisition

Attaining Scale… … And Attracting Valuable Customers

• 50% increase in Retail Checking Customer Usage Statistics* Online Branch Accounts opened online in 1Q2021 vs. 1Q2020. Digital Usage 98.6% 76.1% • Online application Mobile Usage 80.1% 59.1% commenced** rate of 66% vs our peers at 41%. Direct Deposits / Month 1.2 1.0

• Retail Checking opened in Mobile Deposits / Month 0.21 0.17 1Q2021: Debit Card Transactions / Month 11.6 11.3 • Online account openings exceeded an average branch Average Balance $4,224 $12,433 by 13x (433 OAO vs 34 Branch average). • Accounts opened online exceed the number of accounts opened in 27 of 58 . . . (46%) branches.

M A Y | 2021 * Retail checking accounts opened January through December 2020 as of March 31, 2021 ** Accounts successfully opened 16 INVESTOR PRESENTATION . . . Treasury Management Services

Treasury Management Solutions: Accounts1 Balances1 • ACH Origination, Receipts, Addenda Over 39,500 Over $3.6 billion Reporting and Debit Blocking • Digital Account Opening • Accept Multiple Forms of Payment • Account Analysis Statements Adapting to a Pandemic • Business Online Banking Acceptance and utilization of our Business Digital • Coin & Currency Ordering solutions tripled since March 2020. • Commercial Card • Investment Sweep • Bill Pay Investment in Innovation • Insured Cash Sweep (ICS) Investments in technology to enhance our Treasury • Escrow Solutions and provide a robust Online experience for • Foreign Wire our Commercial Customers. • Global Trade • Initiate ACH and Wires Online • Lockbox Continuous Improvement • Merchant We successfully upgraded our Account Analysis • Remote Deposit Capture platform and launched mobile RDC for Business in Q4 . . . 2020 • Payroll • Positive Pay MAY | 2021 17 1 Data as of March 31, 2021 • Zero Balance Accounts INVESTOR PRESENTATION . . . Protecting Our Clients with Cyber Security

• Remains current with evolving industry-wide standards and threat environment • Real-time analytical tools in place for fraud protection and cybersecurity • Use of top tier, neural-based, real-time debit card fraud analytics • Qualified, certified senior InfoSec personnel, backed up by: • Ongoing significant investments in technology, education and training • Board of Directors with cyber security focus and expertise

• Created a security operations center which provides dedicated space to enhance day-to-day operations and includes a central area for key . . . members of the business continuity team to MAY | 2021 collaborate for maximum effectiveness 18 INVESTOR PRESENTATION . . . Strategic Capital Allocation Generates Shareholder Returns Returned Capital to

$65 Shareholders $60 • Stable & competitive dividend $55 • 97th consecutive quarter $50 $45 • Historical Payout Ratio of 30% to $40 40% $35 $30 • Repurchased 500,000 shares YTD $25 $20 2021; over 1.5 million shares

Annual Annual Return Capital ($ of Millions) $15 remain available for repurchase $10 $5 • Strategic acquisitions in critical new $0 2015 2016 2017 2018 2019 2020 2021 markets

Cash Dividends Share Repurchases

Total Cash Returned to . . . Shareholders: $242.9 million MAY | 2021 19 INVESTOR PRESENTATION . . . An Experienced Management Team

Years at Executive Title Selected Experience OceanFirst1 Chairman, Chief Executive Patriot National Bancorp Christopher D. Maher 8 Officer Dime Community Bancshares

President, Wachovia Bank N.A. Joseph J. Lebel III 15 Chief Operating Officer First Fidelity

Executive Vice President, Michael J. Fitzpatrick 28 KPMG Chief Financial Officer

Executive Vice President, Thacher Proffit & Wood Steven J. Tsimbinos 10 General Counsel Lowenstein Sandler PC

Executive Vice President, Office of the Comptroller of the Currency Grace M. Vallacchi 3 Chief Risk Officer First Union

Executive Vice President, Sun National Bancorp Michele Estep 13 Chief Administrative Officer Key Bank

Citigroup Executive Vice President, Karthik Sridharan 1 JP Morgan Chase Chief Information Officer . . . Bank of America MAY | 2021 • Substantial insider ownership of 9%, including Directors and Executive Officers, ESOP and OceanFirst Foundation. 1 Includes years at acquired banks 20 INVESTOR PRESENTATION . . . OceanFirst Foundation: Serving Our Communities • Over $42.5 million has been granted to organizations serving OceanFirst’s market

• Provided $250,000 in grants dedicated to assisting the non-profit organizations helping our neighbors during the coronavirus pandemic

• The Foundation and OceanFirst Bank collaborated to pledge an additional $170,000 to assist local hospitals and organizations with various expenses related to the distribution of COVID-19 vaccinations to our neighbors.

• First foundation established in the country during a mutual conversion to IPO (July 1996)

• OceanFirst Foundation has assets of $25 million as of March 31, 2021 . . . MAY | 2021 21 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, and is projected to fall

• Digital Innovation • Digital products and customer experience on par with national banks and FinTechs, far 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 MAY | 2021 • Meaningful insider ownership aligned with shareholder interest 22 . . .

Investor Relations Inquiries

Jill A. Hewitt Senior Vice President, Director of Investor Relations & Corporate Communications [email protected] (732) 240-4500, ext. 7513

23 . . .

Appendix

24 INVESTOR PRESENTATION . . . Favorable Competitive Position

Community Banks serving OceanFirst Bank Mega Banks Central & Southern NJ # of Dep. In Mkt. Dep. In Branches ($000) Dep. In # of # of Institution Mkt. Institution Mkt. Branches Branches ($000) 60 8,173,938 ($000)

TD Bank (Canada) 151 33,278,985 Republic 17 1,958,197 OceanFirst Wells Fargo (CA) 178 32,317,778 Competitive Position Kearny 22 1,739,853

PNC Bank (PA) 168 28,781,019 Manasquan 16 1,726,000 • Responsive Bank of America 139 26,112,590 • Flexible 1ST Constitution 23 1,177,073 (NC) JP Morgan Chase 99 11,930,399 • Capable Bank of Princeton 18 1,161,712 (NY) • Lending Limit • Technology Sturdy Savings 15 828,057 • Trust • Treasury Management • Consumer & Commercial

• Competing favorably against banking behemoths and local community banks . . .

MAY | 2021 Source: FDIC Summary of Deposits, June 30, 2020 Note: Market area is defined as 13 counties in Central and Southern New Jersey 25 INVESTOR PRESENTATION . . . Credit Costs Consistently Lower than Peer Group

Strong credit performance yields low net charge offs through the cycle.

. . . MAY | 2021 Source: S&P Global Market Intelligence; FFIEC UBPR Peer Group Average Report. Call Report data available through December 31, 2020 26 Note: Peer Group 2 - Commercial Banks between $10 billion and $100 billion in assets; Peer Group 3 - Commercial Banks between $3 billion and $10 billion in assets INVESTOR PRESENTATION . . . 2007 to 2020 Cumulative Credit Losses Also Outperform

Cumulative OCFC losses are 38% lower than proxy peers and 67% lower than UBPR peers

. . .

MAY | 2021 Source: S&P Global Market Intelligence; FFIEC UBPR Peer Group Average Report. Call Report data available through December 31, 2020 Note: Peer Group 2 - Commercial Banks between $10 billion and $100 billion in assets; Peer Group 3 - Commercial Banks between $3 billion and $10 billion in assets 27 INVESTOR PRESENTATION . . . 2007 to 2020 Cumulative Losses By Segment

Cumulative OCFC losses are 25% lower than UBPR peers.

Cumulative OCFC losses are 59% lower than UBPR peers.

Cumulative OCFC losses are 33% lower than UBPR peers.

Cumulative OCFC losses are 46% lower than UBPR peers.

. . . Source: S&P Global Market Intelligence; FFIEC UBPR Peer Group Average Report. Call Report data available through December 31, 2020 1 Peer Group 2 - Commercial Banks between $10 billion and $100 billion in assets; Peer Group 3 - Commercial Banks between $3 billion and $10 billion in assets MAY | 2021 2 Residential and Consumer losses were driven by subprime loans originated by Columbia Home Loans, LLC, which was a mortgage banking company acquired by OCFC in 2000 and shuttered in 2007. Cumulative Residential losses of 2.14% excludes the estimated loss of 0.74% related to Columbia originated loans 28 INVESTOR PRESENTATION . . . Effective Interest Rate Risk Management1

Duration 5.0 All asset categories managed with limited duration

4.0

3.0 Years 2.0

1.0

0.0 Securities Mortgage Loans Consumer Loans Commercial Loans Total Assets FHLB Term Time Deposits (Weighted Average) Borrowings Rate Characteristics 100.0%

80.0%

60.0%

40.0%

20.0%

0.0% Mortgage Loans Consumer Loans Commercial Loans Securities Total Assets Borrowings Deposits . . . (CRE & C&I) (Weighted Average) MAY | 2021 Adjustable/Floating Fixed Core Deposits, Administered 1 As of March 31, 2021 29 INVESTOR PRESENTATION . . . OceanFirst Milestones – 119 Years of Growth

Crossed $10 IPO to Mutual billion threshold Depositors

Created Two River Colonial American Adopted National OceanFirst Bancorp Bank Acquired Bank Charter Foundation Acquired

Founded, Established Established Commercial LPO Country Bank Sun Bancorp, Inc. Point Pleasant, Commercial Trust and Asset Expansion into Holding Company, Acquired NJ Lending Management Mercer County Inc. Acquired

1902 1985 1996 1999 2000 2014 2015 2016 2018 2019 2020

Capital Bank of Branch Expansion Branch Expansion OceanFirst Foundation Cape Bancorp New Jersey into into Monmouth Exceeds $25M in Acquired Acquired Middlesex County County Cumulative Grants

Ocean Shore Holding Co. Acquired

. . . MAY | 2021 30 . . .

Q1 2021 Earnings Supplement1

April 29, 2021

1 The Q1 2021 Earnings Supplement is for the purpose and use in conjunction with our Earnings Release furnished as Exhibit 99.1 to our Form 8-K on April 29, 2021. Forward. . . Looking Statements

In addition to historical information, this news 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. 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.

32 Net Interest. . . Margin – Quarter over Quarter Core NIM vs NIM NIM Bridge 0.11% 0.02% 3.52% 0.09% 2.97% 0.05% 0.03% 3.24% 2.93% 2.97% 2.97% 2.93% 3.26% 2.98% 2.79% 2.71% 2.75%

Q1-20 Q2-20 Q3-20 Q4-20 Q1-21

Core NIM NIM

Q4-20 NIM Lower cost Reduced excess Purchase Lower yield on Rate environment Q1-21 NIM Note: Core NIM excludes purchase accounting and prepayment fee income of funds liquidity accounting impact PPP loans

Headwinds Loans and Deposits ($’million) • Competitive market environment as peers with similar levels of liquidity compete on rate for quality credit.

4.61% 4.28% 4.09% 4.23% 4.09% Tailwinds • Further opportunity to lower deposit costs. • Strong loan-to-deposit position.

0.70% 0.57% 0.49% 0.45% 0.37% • Executing strategies to deploy excess liquidity into loans and securities. 7,933 7,892 8,378 8,968 8,001 9,283 7,756 9,428 9,503 7,873 • $75.6 million of brokered CDs matured on April 20, 2021 at a weighted Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 average yield of 1.05%. Total Loans Total Deposits Loan Average Yield Deposit Average Yield

33 Credit. .Quality . (1 of 3)

Loan Allowance for Credit Losses (ACL) Plus Credit Marks / Net Charge-offs / (Recoveries) and Credit Loss Expense Total Loans ($’000) 35,714 1.14% 1.10% 1.09% 0.71% 0.86% 0.88% 0.36% 0.40% 0.33%

0.42% 0.49% 14,995

0.78% 0.76% 9,969 9,649 0.70% 0.15% 0.06% 0.46% 0.00% 4,072 0.37% 2,942 0.00% 1,154 (232) (620) (280) Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21

ACL Credit Marks Credit loss expense Net charge-offs (recoveries) NCOs / avg. loans

34 Credit. .Quality . (2 of 3) Improved asset quality trends align with positive economic outlook and recovery of our local markets.

Non-Performing Loans Held-for-Investment (HFI) Special Mention and Substandard Loans ($’000) and Assets ($’000) 0.84% 106 106 106

165,844 150,221 248 0.47% 141,467 0.43% 484 0.37%

0.25% 66,441 0.21% 0.32% 0.30% 48,697

0.16% 0.19% 16,263 21,044 29,895 36,410 34,128 87,365 106,344 175,979 194,372 188,981

Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21

Non-performing loans HFI OREO Substandard Special Mention Non-performing loans HFI to total loans Non-performing assets to total assets

Note: At 9/30/20 the Bank had an additional $67.5 million in non-performing loans held-for-sale Note: Of the $150.2 million in Special Mention loans and $189.0 million of Substandard loans, $149.6 million (or 99.6%) driving a significant jump in non-performing assets to total assets. Loan sales were completed and $165.4 million (or 87.5%) are paying current, respectively. in Q4-20 at pricing consistent with their holding valuations.

35 Credit. .Quality . (3 of 3) ~ 97.4% of total loans comply with pre-COVID terms as of 3/31/21. Loans Held-for-Investment by Payment Structure Commercial vs Consumer ($’million)

($’million) 100.0% 35 51 100% 65 44 71 30 58 31 22 99.5% 21 131 7 321 124 99.0% 15 95% 158 1,152 98.5% 131 90% 98.0%

97.5%

85% 271 97.0%

96.5% 80% 7,809 7,531 7,669 96.0% 7,479 2,468 95.5% 75% 5,201 6,920

51.5%

51.0% 55% 50.5%

50.0% 50% Commercial Consumer Q1-20 Q2-20 Q3-20 Q4-20 Q1-21

36 Delinquencies and non-accrual Paying under COVID-19 modification (interest only) Forbearance (No payments made under an agreement) Paying in compliance with pre-COVID terms Non-Interest. . . Expense

Core Non-Interest Expense ($’000) • Core non-interest expense in Q1-21

52,801 53,053 excludes branch consolidation and merger 51,675 51,075 50,291 8,509 9,338 10,215 related expenses. 9,072 9,453 • Consolidated 4 branches in April 2021, increasing average branch size to over

43,166 42,003 43,463 42,838 40,838 $160 million. • Technology expense, which represents data processing, communications, and

Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 digitally focused departments, accounted

Other Core Non-Int Exp Technology Expense for 18.8% of total core non-interest Core Efficiency Ratio expense for Q1-21. For the full year 2020, 2.01% these costs accounted for 17.8% of core 59.69% 59.63% non-interest expense. 58.37% • Technology expenses are expected to 1.85% increase driven by a continued investment 1.81% 1.80% 1.78% 55.36% 56.69% in digital products and services for our customers.

Q1-20 Q2-20 Q3-20 Q4-20 Q1-21

37 Core Efficiency Ratio Core Non-Interest Expense to Average Assets Equity. .and . Performance Book Value and Tangible Book Value per Common Share Core ROAA and ROTE 12.25% 24.84 24.47 24.21 24.57 11.04% 23.38 9.69% 9.71%

-0.11% 14.62 14.79 14.58 14.98 15.26 1.05% 0.81% 0.78% 0.94% -0.01% Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Tangible Book Value per Share Book Value per Share Core ROAA Core ROTE Capital Management ($’million) 8.85% 8.83% 8.77% 8.79% • Strengthened balance sheet and increased tangible book value per

14.8 common share 1.9% versus linked quarter. 10.0 8.41% • Maintained dividend distribution throughout the pandemic. • Share repurchases re-commenced in Q1-21. 10.3 10.2 10.3 10.2 10.2

Q1-20 Q2-20 Q3-20 Q4-20 Q1-21

Share Repurchases QTD 38 Cash Dividend QTD Tangible Stockholders Equity to Tangible Assets . . .

Appendix Quarterly. . . Non-GAAP / Adjusted to GAAP Disclosure

Reported amounts are presented in accordance with generally accepted accounting principles in the United States (“GAAP”). The Company’s management believes that the supplemental Non-GAAP information, which consists of reported net income excluding non-core operations, which can vary from period to period, provides a better comparison of period to period operating performance. Additionally, the Company believes this information is utilized by regulators and market analysts to evaluate a company’s financial condition and therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for financial results in accordance with GAAP, nor are they necessarily comparable to Non-GAAP performance measures which may be presented by other companies.

40 Non-GAAP. . . Financial Information

Non-GAAP Reconciliation

For the Three Months Ended March 31, December 31, September 30, June 30, March 31, $'000 2021 2020 2020 2020 2020 Core Earnings: Net income (loss) available to common stockholders (GAAP) 31,693 32,060 (6,019) 18,638 16,533 Add (less) non-recurring and non-core items: Merger related expenses 381 1,194 3,156 3,070 8,527 Branch consolidation expenses 1,011 3,336 830 863 2,594 Net (gain) loss on equity investments (8,287) (24,487) 3,576 - - FHLB advance prepayment fees - 13,333 - 924 - Gain on sale of PPP loans - (5,101) - - - Two River and Country Bank opening credit loss expense under the CECL model - - - - 2,447 Income tax benefit / (expense) on items 1,666 2,832 (1,809) (1,190) (3,121) Core earnings (loss) (Non-GAAP) 26,464 23,167 (266) 22,305 26,980

• Refer to the Earnings Release for additional information.

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