8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

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): February 1, 2017

OCEANFIRST FINANCIAL CORP.

(Exact name of registrant as specified in its charter)

Delaware	001-11713	22-3412577
(State or other jurisdiction of incorporation or organization)	(Commission File No.)	(IRS Employer Identification No.)

975 HOOPER AVENUE, TOMS RIVER, NEW JERSEY 08753

(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 140.13e-4(c))

ITEM 7.01 REGULATION FD DISCLOSURE

OceanFirst Financial Corp. (the “Company”) is scheduled to make presentations to current and prospective investors on or after February 1, 2017. Attached as Exhibit 99.1 of this Form 8-K is a copy of the presentation which OceanFirst Financial Corp. will make available at these presentations and will post on its website at www.oceanfirst.com. This report is being furnished to the SEC and shall not be deemed “filed” for any purpose.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d)	EXHIBITS
99.1	Text of written presentation which OceanFirst Financial Corp. intends to provide to current and prospective investors on or after February 1, 2017.

Forward-Looking Statements

This Report contains 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:  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 and 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, 2015 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.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

OCEANFIRST FINANCIAL CORP.

/s/ Michael J. Fitzpatrick

Michael J. Fitzpatrick

Executive Vice President and Chief Financial Officer

Dated: February 1, 2017

Exhibit Index

Exhibit	Description
99.1	Text of written presentation which OceanFirst Financial Corp. intends to provide to current and prospective investors on or after February 1, 2017.

EX-99.1

Investor Presentation February 2017 OceanFirst Financial Corp.

OceanFirst Financial Corp. 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: 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 and 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, 2015 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. 2

Founded, Point Pleasant, NJ Branch Expansion Into Middlesex County 1902 1985 IPO To Mutual Depositors 1996 Established Commercial Lending Created OceanFirst Foundation Established Trust and Asset Management 2000 2014 2015 Colonial American Bank Acquired Commercial LPO Expansion into Mercer County Branch Expansion Into Monmouth County 1999 Cape Bancorp Acquired 2016 OceanFirst Foundation Exceeds $25 Million In Cumulative Grants Ocean Shore Holding Co. Acquired* 2017 OceanFirst Milestones – 115 Years of Growth 3

Serving Central and Southern New Jersey Markets • OceanFirst is the largest Bank headquartered in Central and Southern New Jersey • $5.2 billion in assets • 61 branch offices • Market Cap $910 million • Average Daily Share Volume of 205,000 OceanFirst Headquarters OceanFirst Retail Branches, Commercial Loan Production Offices, and Wealth Management Office 30 million people, or approximately 10% of the total U.S. population, reside within a 2-hour drive* and 7.3 million reside in market area** 4 *Includes New York – Newark NY-NJ-PA-CT CSA and Philadelphia – Reading – Camden CSA. **Refer to Appendix 2 for market area.

Experienced Leadership Name Position # of Years at OCFC # of Years In Banking Previous Experience Christopher D. Maher President, Chief Executive Officer 3 28 Patriot National Bancorp; Dime Community Bancshares Michael J. Fitzpatrick Executive Vice President, Chief Financial Officer 24 35 KPMG Joseph R. Iantosca Executive Vice President, Chief Administrative Officer 12 38 BISYS Banking Solutions; Newtrend LLC; Brooklyn Federal Savings Joseph J. Lebel III Executive Vice President, Chief Banking Officer 10 32 Wachovia Bank N.A.; First Fidelity Steven J. Tsimbinos Executive Vice President, General Counsel 6 22 Thacher Proffit & Wood; Lowenstein Sandler PC • Substantial insider ownership of 15.3% – aligned with shareholders’ interests  OceanFirst Bank ESOP 5.0%  Directors & Senior Executive Officers 6.3%  Director and Proxy Officer Stock Ownership Guidelines  OceanFirst Foundation 4.0% From April 26, 2016 Proxy Statement, adjusted for Cape Bancorp acquisition on May 2, 2016 and Ocean Shore Holding Co. acquisition on November 30, 2016. 5

Strategic Focus 6 I. Organic Commercial Loan and Core Deposit Growth • Grew commercial loans (excluding acquired loans) from $533 million at December 31, 2012 to $911 million at December 31, 2016, 14.3% CAGR • Grew low cost core deposits (excluding acquired deposits) from $1,493 million (0.15% cost) at December 31, 2012 to $1,831 million (0.11% cost) at December 31, 2016 II. Opportunistic Acquisitions of Community Banks Target Closing Date Transaction Value(1) Total Assets(1) 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 Weighted average(1): Price/Tangible Book Value 135%; Core Deposit Premium 4.5% (1)At time of announcement.

Strategic Focus (Continued) 7 III. Conservative Risk Management • Credit Risk  Reduced non-performing loans from $43.4 million (2.8% of loans) at December 31, 2012 to $13.6 million (0.35% of total loans receivable) at December 31, 2016, a 10-year low  Strong credit culture – no non-performing commercial loans originated in the past five years • Interest Rate Risk  Grew core deposits (excluding acquisitions) by $170 million in 2016, or 10.2% annualized  Core deposits (all deposits except time deposits) are 84.6% of total deposits at December 31, 2016 • Regulatory/Compliance Risk  Regulatory approvals received for three acquisitions in a timely manner  Outstanding CRA rating received October 2015 Total Shareholder Return December 31, 2012 to December 31, 2016 – 145%, 25.2% CAGR

Highlights – 2016 8 Fourth Quarter • Core EPS of $0.38(1), a 15% increase from $0.33(1) in Q4 2015  11.33% ROTE(1) & 0.92% ROA(1)  Net interest margin was 3.31% in Q4 2016, an increase from 3.25% in Q4 2015 • Strong deposit funding with a loan to deposit ratio of 90.8% and an average cost of deposits of just 0.26% • Completed successful integration of Cape’s core systems providing for realization of additional cost savings entering the first quarter of 2017 (1)Amounts and ratios exclude merger related expenses

Favorable Competitive Position Competing Favorably Against Banking Behemoths and Local Community Banks Source: FDIC Summary of Deposits, June 30, 2016 Note: Market area is defined as counties in Central and Southern New Jersey *Includes the acquisitions of Cape Bank and Ocean City Home Bank Institution # of Branches Dep. In Mkt. ($000) TD Bank (Canada) 132 18,749,018 PNC Bank (PA) 143 17,002,556 Wells Fargo (CA) 145 15,802,079 Bank of America (NC) 123 14,604,095 Santander Bank (Spain) 81 6,103,973 OceanFirst Bank* # of Branches Dep. In Mkt. ($000) 61 4,039,695 Institution # of Branches Dep. In Mkt. ($000) Sun 31 1,659,983 Manasquan 8 870,556 First Choice 5 693,069 Sturdy Savings 13 668,769 OceanFirst Competitive Position  Responsive  Flexible  Capable • Lending Limit • Technology • Trust • Cash Management • Consumer & Commercial Mega Banks Community Banks 9

Online Banking & Bill Pay In 2015, 40% of depositors used online banking and an average of 49,000 bills were paid with online bill pay service each month. Check Card Over 11.6 million transactions processed in 2015. Rewards program promotes usage. Launched Card Valet, a personalized mobile card management app, in 2015. Full Suite of Technology and Delivery Systems 10 Corporate Cash Management Added Remote Deposit Capture (RDC) in 2007. In 2015, 297 clients processed over 875,000 checks using RDC. ATM & Interactive Teller (ITM) Fleet of intelligent ATM terminals provide technology for continually growing self- service deposit option. First ITM deployed in 2014 with more added in 2015 and 2016. Mobile Banking Consistently adopting mobile- centric options. Currently offering TouchID, Apple Watch, and Apple Pay. Customers using self-service channels in December 2016 • 21,000 deposits totaling $180.1 million • 11% of transaction volume and 23% of transaction value of customer-presented deposits for the Bank

Why OCFC…? • Fundamental franchise value • Preeminent community bank in Central and Southern New Jersey • Superior deposit profile • Significant commercial loan growth since December 2012; current focus on recent portfolio integrations • Conservative credit culture • Solid financial performance • Consistent attractive returns • Strong balance sheet and capital base • Seasoned and effective management team • Substantial insider ownership – aligned with shareholders’ interests • Fully capable of executing on 5-year growth plan 11

Attractive Valuation Metrics Valuation Price / Tang. Book Value 230% 214% Price / Estimated 2016 EPS 17.5x 17.8x Price / 2017 Estimated EPS 15.7x 15.2x Core Deposit Premium 13.8% 12.9% Cash Dividend Yield 2.0% 2.2% OCFC Peers(1) 1) Peers include: AROW, BMTC, DCOM, FFIC, FISI, FLIC, LBAI, NFBK, ORIT, PGC, UVSP and WSFS Note: Financial data as of the most recent period available; market data as of January 27, 2017; OCFC stock price of $29.74. Source: Sandler O’Neill 12

Appendix 13

OceanFirst Financial Corp. – Analyst Coverage APPENDIX 1 Company Analyst Recommendation Price Target Keefe Bruyette & Woods Collyn Gilbert Outperform $33.00 Sandler O’Neill & Partners Frank Schiraldi Hold $32.00 Piper Jaffray Matt Breese Overweight $31.00 FIG Partners David Bishop Outperform $34.00 Investor Relations Contacts Christopher D. Maher Chairman and Chief Executive Officer 732-240-4500 Ext. 7504 cmaher@oceanfirst.com Michael Fitzpatrick Executive Vice President and Chief Financial Officer 732-240-4500 Ext. 7506 mfitzpatrick@oceanfirst.com Jill Hewitt Senior Vice President/Investor Relations Officer 732-240-4500 Ext. 7513 jhewitt@oceanfirst.com 14

Market Demographics Central New Jersey(1) Southern New Jersey(2) Philadelphia Metro(3) Total Bank Offices in Market 864 508 848 Total Bank Deposits in Market $87.3 billion $38.0 billion $93.7 billion Number of OceanFirst Offices 28 22 % of OceanFirst Deposits 62 38 Market Rank 11 8 Market Share (%) 2.3 3.2 Population 2,442,000 1,838,000 3,029,000 Projected 2017-2022 Population Growth (%) 7.0 2.6 4.5 Deposit and demographic data as of June 30, 2016. Source: SNL Financial Notes: 1 – Includes Monmouth, Ocean, Middlesex and Mercer counties, New Jersey 2 – Includes Burlington, Atlantic, Cape May, Camden, Gloucester, Salem and Cumberland counties, New Jersey 3 – Includes Philadelphia, Bucks and Montgomery counties, Pennsylvania APPENDIX 2 Expansion opportunity 15

Colonial American Bank Acquisition • 100% Stock deal, valued at $11.9 million • In-Market acquisition supports growth objective in towns of Middletown and Shrewsbury, NJ • Favorable financial terms (adjusted for DTA realization of $2.3 million) • Price/Tangible Book Value of 104% o Transaction neutral to OCFC book value • Price/Core Deposit Premium of 0.4% • Modest execution risk with conservative assumptions • Expected cost saves of 35%, fully realized in 2016 • Gross credit mark of $2.9 million, 2.4% of loans • Effective execution (2015) • Announcement – February 25 • Regulatory Approvals - June 17 (68 days following application) • Shareholder Approval - July 9 • Closing – July 31 • Systems Integration – October 17 (72 days following legal closing) APPENDIX 3 Supports Retail Expansion in High Value Communities OceanFirst Headquarters OceanFirst Retail Branches, Commercial Loan Production Offices, and Wealth Management Office Colonial American Retail Branches 16

Cape Bancorp Acquisition • Creates the preeminent New Jersey based community banking franchise operating throughout central and southern New Jersey • 85% stock and 15% cash, valued at $195 million • Favorable financial terms(1) • Price/Tangible Book Value of 139% • Price/Core Deposit Premium of 4.4% • Expected accretion to GAAP EPS of 17% in 2017 • Expected tangible book value dilution of 7.2%, projected earnback of approximately 3.3 years using the cross-over method and 3.8 years on a simple tangible book value earnback calculation • Modest execution risk with conservative assumptions • Expected cost saves of 33%, fully realized by end of 2016 • Expected one-time, pre-tax transaction expenses of $15.5 million • Gross credit mark of $25.5 million, 2.3% of loans • Effective execution (2016) • Announcement – January 5 • Regulatory Approvals – March 28 (52 days following application) • Shareholder Approvals – April 25 • Closing – May 2 • Systems Integration – completed October 15 APPENDIX 4 17 OceanFirst Headquarters OceanFirst Retail Branches, Commercial Loan Production Offices, and Wealth Management Office Cape Bank Retail Branches and Commercial Loan Offices (1)At time of announcement

18 Ocean Shore Holding Co. Acquisition - OCFC Branches - OSHC Branches APPENDIX 5 • Reinforces OceanFirst as the preeminent New Jersey based community banking franchise operating throughout central and southern New Jersey • 80% stock and 20% cash, valued at $181 million • Favorable financial terms(1) • Price/Tangible Book Value of 132% • Price/Core Deposit Premium of 4.9% • Expected accretion to GAAP EPS of over 5% in 2018 • Expected tangible book value dilution of 3.1%, projected earnback of approximately 3.7 years using the cross-over method and 4.1 years on a simple tangible book value earnback calculation • Modest execution risk with conservative assumptions • Expected cost saves of 53%, fully realized by end of 2017 • Expected one-time, pre-tax transaction expenses of $19 million • Gross credit mark of $10.0 million, 1.25% of loans • Effective execution • Announcement – July 13, 2016 • Regulatory Approvals – October 27, 2016 • Shareholder Approvals – November 22, 2016 • Closing – November 30, 2016 • Systems Integration – scheduled for May 2017 (1)At time of announcement

19 Earnings Press Release APPENDIX 6

Press Release Company Contact: Michael J. Fitzpatrick Chief Financial Officer OceanFirst Financial Corp. Tel: (732) 240-4500, ext. 7506 Fax: (732) 349-5070 Email: Mfitzpatrick@oceanfirst.com FOR IMMEDIATE RELEASE OCEANFIRST FINANCIAL CORP. ANNOUNCES QUARTERLY AND ANNUAL FINANCIAL RESULTS TOMS RIVER, NEW JERSEY, JANUARY 26, 2017…OceanFirst Financial Corp. (NASDAQ:"OCFC"), (the "Company"), the holding company for OceanFirst Bank (the "Bank"), today announced that diluted earnings per share were $0.22 for the quarter ended December 31, 2016, as compared to $0.31 for the corresponding prior year quarter. For the year ended December 31, 2016, diluted earnings per share were $0.98, as compared to $1.21 for the corresponding prior year period. The results of operations for the quarter and the year ended December 31, 2016 include merger related expenses, which decreased net income, net of tax benefit, by $4.5 million and $11.9 million, respectively. Excluding this item, core earnings for the quarter and year ended December 31, 2016 were $10.6 million, or $0.38 per diluted share, and $35.0 million, or $1.49 per diluted share, respectively. (Please refer to the Non-GAAP Reconciliation table at the end of this document for details on the earnings impact of merger related expenses, certain other expenses incurred in the second quarter of 2016, and quantification of core earnings). Highlights for the quarter are described below. • On November 30, 2016, the Company completed its acquisition of Ocean Shore Holding Company ("Ocean Shore"), which added $995.9 million to assets, $774.0 million to loans,

2 and $875.1 million to deposits. The Company anticipates full integration of Ocean Shore’s operations and systems in May 2017. • On October 15, 2016, the Bank completed the systems integration and rebranding effort related to the acquisition of Cape Bancorp, Inc. ("Cape"), which had been operated as a division of OceanFirst Bank since the closing on May 2, 2016. • Non-performing loans decreased 25.8%, to $13.6 million, at December 31, 2016, from $18.3 million at December 31, 2015. Non-performing loans as a percent of total loans receivable decreased to 0.35% at December 31, 2016, from 0.91% at December 31, 2015, the lowest level in the past 10 years. Chairman and Chief Executive Officer Christopher D. Maher reflected on the Company's results, "With the Ocean Shore closing on November 30th and the full systems conversion and rebranding of Cape completed, we are pleased to include the stockholders, employees and customers of both organizations in the OceanFirst family." Mr. Maher added, "Throughout 2017 we will be focused on effectively deploying excess liquidity and reducing operating expenses following the two acquisitions completed in 2016." The Company continues to focus on organic growth while actively managing expense levels. Expense reductions associated with the successful systems integration of Cape in the fourth quarter of 2016 will be fully realized in the first quarter of 2017. Initial cost savings were realized at the time of the Ocean Shore acquisition on November 30, 2016, with incremental savings expected after the second quarter of 2017 due to the anticipated systems integration. The Company also expects to realize significant cost savings from the consolidation of branches. The Company's Board of Directors has approved the elimination of 10 such branches in the legacy Cape and Ocean Shore market area by mid-year 2017, with an expected annualized cost savings of $3.6 million. Further, the Company expects to consolidate other branches in its central New Jersey market area by the end of the year. These initiatives will allow the Company to continue to invest in commercial banking and electronic delivery channels while meeting the efficiency targets established in connection with the recent acquisitions.

3 The Company also announced that the Board of Directors declared its eightieth consecutive quarterly cash dividend on common stock. The dividend for the quarter ended December 31, 2016 of $0.15 per share will be paid on February 17, 2017 to stockholders of record on February 6, 2017. Results of Operations On July 31, 2015, the Company completed its acquisition of Colonial American Bank ("Colonial American"), which added $142.4 million to assets, $121.2 million to loans, and $123.3 million to deposits. Colonial American’s results of operations are included in the consolidated results for the quarter and year ended December 31, 2016, but are only included in the results of operations for the period from August 1, 2015 through December 31, 2015. On May 2, 2016, the Company completed its acquisition of Cape and its results of operations from May 2, 2016 through December 31, 2016 are included in the consolidated results for the quarter and year ended December 31, 2016, but are not included in the results of operations for the corresponding prior year periods. On November 30, 2016, the Company completed its acquisition of Ocean Shore and its results of operations from December 1, 2016 through December 31, 2016 are included in the consolidated results for the quarter and year ended December 31, 2016, but are not included in the results of operations for the corresponding prior year periods. Net income for the quarter ended December 31, 2016, was $6.1 million, or $0.22 per diluted share, as compared to $5.2 million, or $0.31 per diluted share, for the corresponding prior year period. Net income for the year ended December 31, 2016, was $23.0 million, or $0.98 per diluted share, as compared to $20.3 million, or $1.21 per diluted share, for the corresponding prior year period. Net income for the quarter and year ended December 31, 2016 includes merger related expenses, net of tax benefit, of $4.5 million and $11.8 million, respectively, as compared to $441,000 and $1.3 million, respectively, for the same prior year periods. Additionally, net income for the year ended December 31, 2016, includes an FHLB advance prepayment fee of $136,000, and a loss on the sale of investment securities available-for-sale of $12,000.

4 Excluding these items, diluted earnings per share increased over the prior year period due to higher net interest income and other income partially offset by increases in operating expenses, provision for loan losses, and average diluted shares outstanding. Excluding merger related expenses, diluted earnings per share decreased $0.02 from the prior linked quarter. Excluding the impact of Ocean Shore, net interest income decreased for the fourth quarter of 2016, as compared to the prior linked quarter, due to a reduction in average loans receivable. This reduction was partly offset by the overall favorable impact of the Ocean Shore acquisition for the month of December. Net interest income for the quarter and year ended December 31, 2016 increased to $35.8 million and $120.3 million, respectively, as compared to $20.7 million and $76.8 million for the same prior year periods, reflecting an increase in interest-earning assets and a higher net interest margin. Average interest- earning assets increased $1.730 billion and $1.116 billion, respectively, for the quarter and year ended December 31, 2016, as compared to the same prior year periods. The averages for the quarter and year ended December 31, 2016, were favorably impacted by $1.357 billion and $900.7 million, respectively, as a result of the interest-earning assets acquired from Ocean Shore, Cape and Colonial American ("Acquisition Transactions"). Average loans receivable, net, increased $1.323 billion and $956.7 million, respectively, for the quarter and the year ended December 31, 2016 as compared to the same prior year periods. The increases attributable to the Acquisition Transactions were $1.280 billion and $843.6 million for the quarter and the year ended December 31, 2016, respectively. The net interest margin increased to 3.40% and 3.47%, respectively, for the quarter and year ended December 31, 2016, from 3.34% and 3.28%, respectively, for the quarter and year ended December 31, 2015. The yield on average interest-earning assets increased to 3.79% and 3.85%, respectively, for the quarter and year ended December 31, 2016, from 3.74% and 3.66%, respectively, for the same prior year periods. The yields on average interest- earning assets for the quarter and year ended December 31, 2016 benefited from the accretion of purchase accounting adjustments on the Acquisition Transactions of $1.4 million and $4.5 million, respectively;

5 the higher-yielding interest-earning assets acquired from Cape; and the higher interest rate environment in the fourth quarter of 2016. For the quarter and the year ended December 31, 2016, the cost of average interest-bearing liabilities decreased to 0.48% and 0.47%, from 0.49% and 0.48%, respectively, in the corresponding prior year periods. The total cost of deposits (including non-interest bearing deposits) was 0.26% and 0.25%, respectively, for the quarter and year ended December 31, 2016, as compared to 0.24% and 0.23%, respectively, for the corresponding prior year periods. Net interest income for the quarter ended December 31, 2016 increased $1.8 million, as compared to the prior linked quarter, as average interest-earning assets increased $400.3 million, of which $317.8 million related to Ocean Shore. The net interest margin decreased to 3.40% for the quarter ended December 31, 2016, from 3.56% for the prior linked quarter. The yield on average interest-earning assets decreased to 3.79% for the quarter ended December 31, 2016, from 3.92% for the prior linked quarter due to increased average balances in lower yielding interest-earning deposits and short-term investments. The cost of average interest-bearing liabilities increased to 0.48% for the quarter ended December 31, 2016, as compared to 0.43% for the prior linked quarter, due to a full quarter of interest expense on the September 2016 issuance of $35.0 million in subordinated notes at an all-in cost of 5.45% with a stated maturity of September 30, 2026. For the quarter and year ended December 31, 2016, the provision for loan losses was $510,000 and $2.6 million, respectively, as compared to $300,000 and $1.3 million, respectively, for the corresponding prior year periods. Net charge-offs were $944,000 and $4.2 million, respectively, for the quarter and the year ended December 31, 2016, as compared to $217,000 and $870,000, respectively, in the corresponding prior year periods. The increase in net charge-offs for the quarter and the year ended December 31, 2016, was primarily due to fourth quarter and full-year charge-offs of $535,000 and $2.1 million, respectively, on loans sold, and to a lesser extent, first quarter charge-offs of $886,000 on two non-performing commercial loans. Excluding charge-offs attributable to the loan sale, net charge-offs for

6 the quarter totaled $409,000. Non-performing loans totaled $13.6 million at December 31, 2016, as compared to $16.5 million at September 30, 2016, and $18.3 million at December 31, 2015. For the quarter and the year ended December 31, 2016, other income increased to $6.3 million and $20.4 million, respectively, as compared to $4.1 million and $16.4 million, respectively, in the same prior year periods. The increases from the prior periods were primarily due to the impact of the Ocean Shore and Cape acquisitions which added $1.6 million and $3.9 million to total other income for the quarter and the year ended December 31, 2016, respectively, as compared to the same prior year periods. Excluding Ocean Shore and Cape, other income increased $529,000 and $133,000 for the quarter and year ended December 31, 2016, as compared to the same prior year periods. For the quarter and the year ended December 31, 2016, other income included losses of $49,000 and $342,000, respectively, attributable to the operations of a hotel, golf and banquet facility acquired as Other Real Estate Owned ("OREO") in the fourth quarter of 2015. The Bank is currently engaged in a sales process with qualified buyers for this property. For the quarter ended December 31, 2016, other income, excluding the impact from Ocean Shore, increased $12,000, as compared to the prior linked quarter. Operating expenses increased to $32.5 million and $102.9 million, respectively, for the quarter and the year ended December 31, 2016, as compared to $16.5 million and $60.8 million, respectively, in the same prior year periods. Operating expenses for the quarter and the year ended December 31, 2016 include $6.6 million and $16.5 million, respectively, in merger related expenses, as compared to merger related expenses of $614,000 and $1.9 million, respectively, in the same prior year periods. Excluding merger related expenses, the increases in operating expenses over the prior year were primarily due to the operations of Cape and Ocean Shore, which added $8.2 million and $20.5 million for the quarter and year- to-date, respectively; the investment in commercial lending which added expenses of $15,000 and $816,000 for the quarter and year-to-date, respectively; the addition of branches (excluding those acquired in the Acquisition Transactions) which added expenses of $176,000 and $1.2 million for the quarter and year-

7 to-date, respectively: the amortization of the core deposit intangible which added expenses of $291,000 and $602,000 for the quarter and year-to-date, respectively; and the FHLB advance prepayment fee of $136,000. For the quarter ended December 31, 2016, operating expenses, excluding merger related expenses, increased $2.1 million, as compared to the prior linked quarter. The increase was primarily related to the additional expense from the operations of Ocean Shore of $1.3 million, as well as $363,000 in costs associated with the Bank's rebranding effort. The provision for income taxes was $3.0 million and $12.2 million, respectively, for the quarter and year ended ended December 31, 2016, as compared to $2.8 million and $10.9 million, respectively, for the same prior year periods. The effective tax rate was 33.0% and 34.5%, respectively, for the quarter and year ended December 31, 2016, as compared to 34.7% and 34.9%, respectively, for the same prior year periods and 34.4% in the prior linked quarter. The variances in the effective tax rate were primarily due to the timing of non-deductible merger related expenses. Financial Condition Total assets increased by $2.574 billion to $5.167 billion at December 31, 2016, from $2.593 billion at December 31, 2015, primarily as a result of the acquisitions of Cape and Ocean Shore. Cash and due from banks and interest-bearing deposits increased by $257.4 million, to $301.4 million at December 31, 2016, from $43.9 million at December 31, 2015. The increase was primarily due to cash flows from a reduction in loans receivable (exclusive of acquired loans), deposit growth not utilized to reduce FHLB advances (exclusive of acquired deposits), and the issuance of subordinated notes. Loans receivable, net, increased by $1.833 billion, to $3.803 billion at December 31, 2016, from $1.971 billion at December 31, 2015, due to acquired loans of $1.931 billion. As part of the Acquisition Transactions, and the purchase of an existing retail branch in the Toms River market in the first quarter of 2016, at December 31, 2016, the Company had outstanding goodwill of $145.1 million and core deposit intangibles of $10.9 million.

8 Deposits increased by $2.271 billion, to $4.188 billion at December 31, 2016, from $1.917 billion at December 31, 2015, which include deposits of $2.140 billion acquired from Ocean Shore, Cape, and the purchase of an existing retail branch located in the Toms River market. Excluding those acquired, deposits increased $130.7 million, while core deposits (all deposits excluding time deposits) increased $169.7 million. The loan-to-deposit ratio at December 31, 2016 was 90.8%, as compared to 102.8% at December 31, 2015. The deposit growth funded a decrease in FHLB advances of $73.9 million to $250.5 million at December 31, 2016 from $324.4 million at December 31, 2015. The increase in other borrowings relates to the September 2016 issuance of $35.0 million in subordinated notes at an all-in cost of 5.45% with a stated maturity of September 30, 2026. Stockholders' equity increased to $572.0 million at December 31, 2016, as compared to $238.4 million at December 31, 2015. The acquisitions of Cape and Ocean Shore added $165.9 million and $152.3 million, respectively, to stockholders' equity. At December 31, 2016, there were 154,804 shares available for repurchase under the Company's stock repurchase program adopted in July of 2014. In the fourth quarter, the Company repurchased 90,000 shares under this plan at an average cost of $20.86 per share. Tangible stockholders' equity per common share decreased to $12.95 at December 31, 2016, as compared to $13.67 at December 31, 2015, due to the addition of intangible assets in the Ocean Shore and Cape acquisitions. Asset Quality The Company's non-performing loans decreased to $13.6 million at December 31, 2016, as compared to $18.3 million at December 31, 2015, partly due to the bulk sale of non-performing and under- performing loans in the third and fourth quarters. Non-performing loans do not include $7.6 million of purchased credit-impaired ("PCI") loans acquired in the Acquisition Transactions. The Company's OREO totaled $9.8 million at December 31, 2016, as compared to $8.8 million at December 31, 2015. The amount includes $7.0 million relating to the hotel, golf and banquet facility located in New Jersey which the Company acquired in the fourth quarter of 2015. At December 31, 2016, the Company's allowance for

9 loan losses was 0.40% of total loans, a decrease from 0.84% at December 31, 2015. These ratios exclude existing fair value credit marks of $26.0 million at December 31, 2016 on the Ocean Shore, Cape and Colonial American loans and $2.2 million at December 31, 2015 on the Colonial American loans. These loans were acquired at fair value with no related allowance for loan losses. The allowance for loan losses as a percent of total non-performing loans was 111.92% at December 31, 2016 as compared to 91.51% at December 31, 2015. Explanation of Non-GAAP Financial Measures 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 merger related expenses, loss on sale of investment securities available for sale and FHLB prepayment fee, 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. Please refer to Non-GAAP Reconciliation table at the end of this document for details on the earnings impact of these items. Annual Meeting The Company also announced today that its Annual Meeting of Stockholders will be held on Friday, June 2, 2017 at 10:00 a.m. Eastern time, at Navesink Country Club located at 50 Luffburrow Lane, Middletown, New Jersey. The record date for stockholders to vote at the Annual Meeting is April 11, 2017. Conference Call As previously announced, the Company will host an earnings conference call on Friday, January 27, 2017 at 11 a.m. Eastern time. The direct dial number for the call is (888) 338-7143. For those unable

10 to participate in the conference call, a replay will be available. To access the replay, dial (877) 344-7529, Replay Conference Number10098553 from one hour after the end of the call until April 27, 2017. The conference call, as well as the replay, are also available (listen-only) by internet webcast at www.oceanfirst.com in the Investor Relations section. * * * OceanFirst Financial Corp.’s subsidiary, OceanFirst Bank, founded in 1902, is a $5.2 billion community bank with branches located throughout central and southern New Jersey. OceanFirst Bank delivers commercial and residential financing solutions, wealth management and deposit services and is one of the largest and oldest community-based financial institutions headquartered in New Jersey. OceanFirst Financial Corp.'s press releases are available by visiting us at www.oceanfirst.com. 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: 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, 2015 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.

11 OceanFirst Financial Corp. CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (dollars in thousands, except per share amounts) December 31, 2016 September 30, 2016 December 31, 2015 (unaudited) (unaudited) Assets Cash and due from banks $ 301,373 $ 311,583 $ 43,946 Securities available-for-sale, at estimated fair value 12,224 2,497 29,902 Securities held-to-maturity, net (estimated fair value of $596,413 at December 31, 2016, $478,727 at September 30, 2016, and $397,763 at December 31, 2015) 598,691 470,642 394,813 Federal Home Loan Bank of New York stock, at cost 19,313 18,289 19,978 Loans receivable, net 3,803,443 3,028,696 1,970,703 Loans held-for-sale 1,551 21,679 2,697 Interest and dividends receivable 11,989 9,396 5,860 Other real estate owned 9,803 9,107 8,827 Premises and equipment, net 71,385 51,243 28,419 Servicing asset 228 259 589 Bank Owned Life Insurance 132,172 106,433 57,549 Deferred tax asset 38,787 39,391 16,807 Other assets 10,105 11,543 10,900 Core deposit intangible 10,924 3,722 256 Goodwill 145,064 66,537 1,822 Total assets $ 5,167,052 $ 4,151,017 $ 2,593,068 Liabilities and Stockholders’ Equity Deposits $ 4,187,750 $ 3,324,681 $ 1,916,678 Securities sold under agreements to repurchase with retail customers 69,935 69,078 75,872 Federal Home Loan Bank advances 250,498 251,146 324,385 Other borrowings 56,559 56,399 22,500 Advances by borrowers for taxes and insurance 14,030 8,287 7,121 Other liabilities 16,242 24,182 8,066 Total liabilities 4,595,014 3,733,773 2,354,622 Stockholders’ equity: Preferred stock, $.01 par value, $1,000 liquidation preference, 5,000,000 shares authorized, no shares issued — — Common stock, $.01 par value, 55,000,000 shares authorized, 33,566,772 shares issued and 32,136,892, 25,850,956, and 17,286,557 shares outstanding at December 31, 2016, September 30, 2016, and December 31, 2015, respectively 336 336 336 Additional paid-in capital 364,433 308,979 269,757 Retained earnings 238,192 236,472 229,140 Accumulated other comprehensive loss (5,614) (5,611) (6,241) Less: Unallocated common stock held by Employee Stock Ownership Plan (2,761) (2,832) (3,045) Treasury stock, 1,429,880, 7,715,816, and 16,280,215 shares at December 31, 2016, September 30, 2016, and December 31, 2015, respectively (22,548) (120,100) (251,501) Common stock acquired by Deferred Compensation Plan (313) (310) (314) Deferred Compensation Plan Liability 313 310 314 Total stockholders’ equity 572,038 417,244 238,446 Total liabilities and stockholders’ equity $ 5,167,052 $ 4,151,017 $ 2,593,068

12 OceanFirst Financial Corp. CONSOLIDATED STATEMENTS OF INCOME (in thousands, except per share amounts) For the Three Months Ended, For the Years Ended December 31, September 30, December 31, December 31, 2016 2016 2015 2016 2015 |--------------------- (unaudited) ---------------------| (unaudited) Interest income: Loans $ 36,799 $ 34,607 $ 21,143 $ 122,962 $ 77,694 Mortgage-backed securities 1,874 1,700 1,449 6,697 6,051 Investment securities and other 1,231 1,000 557 3,766 2,118 Total interest income 39,904 37,307 23,149 133,425 85,863 Interest expense: Deposits 2,392 2,083 1,217 7,517 4,301 Borrowed funds 1,758 1,289 1,244 5,646 4,733 Total interest expense 4,150 3,372 2,461 13,163 9,034 Net interest income 35,754 33,935 20,688 120,262 76,829 Provision for loan losses 510 888 300 2,623 1,275 Net interest income after provision for loan losses 35,244 33,047 20,388 117,639 75,554 Other income: Bankcard services revenue 1,424 1,347 926 4,833 3,537 Wealth management revenue 545 608 530 2,324 2,187 Fees and services charges 3,273 2,916 2,082 10,508 8,124 Loan servicing income 73 26 82 250 268 Net gain on sale of loan servicing — — — — 111 Net gain on sales of loans available-for-sale 290 347 185 986 822 Net loss on sales of investment securities available-for-sale — — — (12) — Net loss from other real estate operations (74) (63) (38) (856) (149) Income from Bank Owned Life Insurance 710 659 343 2,230 1,501 Other 16 56 8 149 25 Total other income 6,257 5,896 4,118 20,412 16,426 Operating expenses: Compensation and employee benefits 13,649 13,558 8,438 47,105 31,946 Occupancy 2,380 2,315 1,518 8,332 5,722 Equipment 1,499 1,452 1,162 5,104 3,725 Marketing 609 479 428 1,882 1,516 Federal deposit insurance 830 743 528 2,825 2,072 Data processing 2,291 2,140 1,349 7,577 4,731 Check card processing 662 623 427 2,210 1,815 Professional fees 969 681 541 2,848 1,865 Other operating expense 2,640 1,543 1,481 7,676 5,484 Amortization of core deposit intangible 304 181 13 623 21 Federal Home Loan Bank advance prepayment fee — — — 136 — Merger related expenses 6,632 1,311 614 16,534 1,878 Total operating expenses 32,465 25,026 16,499 102,852 60,775 Income before provision for income taxes 9,036 13,917 8,007 35,199 31,205 Provision for income taxes 2,984 4,789 2,777 12,153 10,883 Net income $ 6,052 $ 9,128 $ 5,230 $ 23,046 $ 20,322 Basic earnings per share $ 0.22 $ 0.36 $ 0.31 $ 1.00 $ 1.22 Diluted earnings per share $ 0.22 $ 0.35 $ 0.31 $ 0.98 $ 1.21 Average basic shares outstanding 27,461 25,435 16,867 23,093 16,600 Average diluted shares outstanding 28,128 25,889 17,126 23,526 16,811

13 OceanFirst Financial Corp. SELECTED LOAN AND DEPOSIT DATA (dollars in thousands) LOANS RECEIVABLE At December 31, 2016 September 30, 2016 June 30, 2016 March 31, 2016 December 31, 2015 Commercial: Commercial and industrial $ 152,810 $ 185,633 $ 222,355 $ 141,364 $ 144,788 Commercial real estate - owner- occupied 534,365 493,157 523,662 308,666 307,509 Commercial real estate - investor 1,134,507 1,014,699 1,011,354 536,754 510,936 Total commercial 1,821,682 1,693,489 1,757,371 986,784 963,233 Consumer: Residential mortgage 1,651,695 1,061,752 1,090,781 792,753 791,249 Residential construction 65,408 46,813 48,266 54,259 50,757 Home equity loans and lines 289,110 251,421 258,398 190,621 192,368 Other consumer 1,566 1,273 1,586 570 792 Total consumer 2,007,779 1,361,259 1,399,031 1,038,203 1,035,166 Total loans 3,829,461 3,054,748 3,156,402 2,024,987 1,998,399 Loans in process (14,249) (13,842) (13,119) (15,033) (14,206) Deferred origination costs, net 3,414 3,407 3,441 3,253 3,232 Allowance for loan losses (15,183) (15,617) (16,678) (16,214) (16,722) Loans receivable, net $ 3,803,443 $ 3,028,696 $ 3,130,046 $ 1,996,993 $ 1,970,703 Mortgage loans serviced for others $ 137,881 $ 143,657 $ 145,903 $ 152,653 $ 158,244 At December 31, 2016 Average Yield Loan pipeline (1): Commercial 4.82% $ 99,060 $ 64,976 $ 48,897 $ 57,571 $ 53,785 Residential mortgage and construction 3.91 38,486 39,252 30,520 28,528 31,860 Home equity loans and lines 4.51 6,522 5,099 5,594 8,082 5,481 Total 4.56 $ 144,068 $ 109,327 $ 85,011 $ 94,181 $ 91,126 For the Three Months Ended, December 31, September 30, June 30, March 31, December 31, 2016 2016 2016 2016 2015 Average Yield Loan originations: Commercial 4.14% $ 105,062 (4) $ 63,310 $ 59,543 $ 58,005 $ 72,534 Residential mortgage and construction 3.69 62,087 41,170 40,295 34,361 43,616 Home equity loans and lines 4.49 11,790 11,007 10,067 10,915 10,431 Total 4.00 $ 178,939 $ 115,487 $ 109,905 $ 103,281 $ 126,581 Loans sold $ 12,098 (3) $ 17,787 (2) $ 10,303 $ 8,901 $ 9,784 (1) Loan pipeline includes pending loan applications and loans approved but not funded (2) Excludes the sale of under-performing loans of $12.8 million (3) Excludes the sale of under-performing loans of $21.0 million (4) Includes purchased loans totaling $24.6 million DEPOSITS At December 31, 2016 September 30, 2016 June 30, 2016 March 31, 2016 December 31, 2015 Type of Account Non-interest-bearing $ 782,504 $ 512,957 $ 554,709 $ 351,743 $ 337,143 Interest-bearing checking 1,626,713 1,451,083 1,310,290 860,468 859,927 Money market deposit 458,911 400,054 366,942 163,885 153,196 Savings 672,519 489,173 489,132 327,845 310,989 Time deposits 647,103 471,414 485,189 267,420 255,423 $ 4,187,750 $ 3,324,681 $ 3,206,262 $ 1,971,361 $ 1,916,678

14 OceanFirst Financial Corp. ASSET QUALITY (dollars in thousands) December 31, 2016 September 30, 2016 June 30, 2016 March 31, 2016 December 31, 2015 ASSET QUALITY Non-performing loans: Commercial and industrial $ 441 $ 1,152 $ 964 $ 909 $ 123 Commercial real estate - owner-occupied 2,414 5,213 4,363 4,354 7,684 Commercial real estate - investor 521 1,675 1,675 940 3,112 Residential mortgage 8,126 7,017 7,102 8,788 5,779 Home equity loans and lines 2,064 1,450 1,226 1,202 1,574 Other consumer — — — — 2 Total non-performing loans 13,566 16,507 15,330 16,193 18,274 Other real estate owned 9,803 9,107 9,791 9,029 8,827 Total non-performing assets $ 23,369 $ 25,614 $ 25,121 $ 25,222 $ 27,101 Purchased credit-impaired ("PCI") loans $ 7,575 $ 5,836 $ 9,673 $ 376 $ 461 Delinquent loans 30 to 89 days $ 22,598 $ 8,553 $ 15,643 $ 6,996 $ 9,087 Troubled debt restructurings: Non-performing (included in total non-performing loans above) $ 3,471 $ 3,520 $ 2,990 $ 4,775 $ 4,918 Performing 27,042 26,396 28,173 26,689 26,344 Total troubled debt restructurings $ 30,513 $ 29,916 $ 31,163 $ 31,464 $ 31,262 Allowance for loan losses $ 15,183 $ 15,617 $ 16,678 $ 16,214 $ 16,722 Allowance for loan losses as a percent of total loans receivable (1) 0.40% 0.51% 0.53% 0.80% 0.84% Allowance for loan losses as a percent of total non-performing loans 111.92 94.61 108.79 100.13 91.51 Non-performing loans as a percent of total loans receivable 0.35 0.54 0.48 0.80 0.91 Non-performing assets as a percent of total assets 0.45 0.62 0.62 0.97 1.05 (1) The loans acquired from Ocean Shore, Cape, and Colonial American were recorded at fair value. The net credit mark on these loans, not reflected in the allowance for loan losses, was $25,973, $17,051, $27,281, $2,013, and $2,202 at December 31, 2016, September 30, 2016, June 30, 2016, March 31, 2016, and December 31, 2015, respectively. NET CHARGE-OFFS For the three months ended December 31, September 30, June 30, March 31, December 31, 2016 2016 2016 2016 2015 Net Charge-offs: Loan charge-offs $ (979) $ (2,116) $ (223) $ (1,172) $ (236) Recoveries on loans 35 167 25 101 19 Net loan charge-offs $ (944) $ (1,949) $ (198) $ (1,071) $ (217) Net loan charge-offs to average total loans (annualized) 0.11% 0.25% 0.03% 0.21% 0.04% Net charge-off detail - (loss) recovery: Commercial $ (510) $ (1,707) $ (84) $ (1,073) $ 12 Residential mortgage and construction (233) (161) (69) (24) (117) Home equity loans and lines (194) (83) (45) 28 (109) Other consumer (7) 2 — (2) (3) Net loans charged-off $ (944) $ (1,949) $ (198) $ (1,071) $ (217) Note: Included in net loan charge-offs for the three months ended December 31, 2016 and September 30, 2016 are $535 and $1,627 relating to under-performing loans sold or held-for-sale, respectively.

15 OceanFirst Financial Corp. ANALYSIS OF NET INTEREST INCOME For the Three Months Ended December 31, 2016 September 30, 2016 December 31, 2015 (dollars in thousands) Average Balance Interest Average Yield/ Cost Average Balance Interest Average Yield/ Cost Average Balance Interest Average Yield/ Cost Assets: Interest-earning assets: Interest-earning deposits and short- term investments $ 359,804 $ 484 0.54% $ 168,045 $ 139 0.33% $ 41,227 $ 16 0.15% Securities (1) and FHLB stock 545,302 2,621 1.91 533,809 2,561 1.91 456,486 1,990 1.73 Loans receivable, net (2) Commercial 1,717,502 21,016 4.87 1,723,520 20,970 4.84 943,116 11,154 4.69 Residential 1,314,667 12,857 3.89 1,118,435 10,874 3.87 836,722 7,953 3.77 Home Equity 262,372 2,907 4.41 255,919 2,745 4.27 193,314 2,028 4.16 Other 1,149 19 6.58 1,163 18 6.16 544 8 5.83 Allowance for loan loss net of deferred loan fees (12,987) — — (13,346) — — (13,597) — — Loans Receivable, net 3,282,703 36,799 4.46 3,085,691 34,607 4.46 1,960,099 21,143 4.28 Total interest-earning assets 4,187,809 39,904 3.79 3,787,545 37,307 3.92 2,457,812 23,149 3.74 Non-interest-earning assets 368,965 316,290 129,297 Total assets $ 4,556,774 $ 4,103,835 $ 2,587,109 Liabilities and Stockholders' Equity: Interest-bearing liabilities: Interest-bearing checking $ 1,538,706 723 0.19% $ 1,425,350 583 0.16% $ 909,962 278 0.12% Money market 424,613 312 0.29 386,490 295 0.30 152,416 76 0.20 Savings 549,032 74 0.05 488,749 49 0.04 309,037 27 0.03 Time deposits 527,817 1,283 0.97 477,496 1,156 0.96 256,378 836 1.29 Total 3,040,168 2,392 0.31 2,778,085 2,083 0.30 1,627,793 1,217 0.30 Securities sold under agreements to repurchase 72,063 24 0.13 68,540 24 0.14 78,892 29 0.15 FHLB Advances 250,829 1,120 1.78 264,213 1,067 1.61 252,812 1,041 1.63 Other borrowings 56,397 614 4.33 26,207 198 3.01 25,467 174 2.71 Total interest-bearing liabilities 3,419,457 4,150 0.48 3,137,045 3,372 0.43 1,984,964 2,461 0.49 Non-interest-bearing deposits 622,882 521,088 349,473 Non-interest-bearing Liabilities 42,773 31,536 16,174 Total liabilities 4,085,112 3,689,669 2,350,611 Stockholders’ equity 471,662 414,166 236,498 Total liabilities and equity $ 4,556,774 $ 4,103,835 $ 2,587,109 Net interest income $ 35,754 $ 33,935 $ 20,688 Net interest rate spread (3) 3.31% 3.49% 3.25% Net interest margin (4) 3.40% 3.56% 3.34% Total cost of deposits (including non- interest-bearing deposits) 0.26% 0.25% 0.24% (1) Amounts are recorded at average amortized cost. (2) Amount is net of deferred loan fees, undisbursed loan funds, discounts and premiums and estimated loss allowances and includes loans held for sale and non-performing loans. (3) Net interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities. (4) Net interest margin represents net interest income divided by average interest-earning assets.

16 (continued) For the Years Ended December 31, 2016 December 31, 2015 (dollars in thousands) Average Balance Interest Average Yield/ Cost Average Balance Interest Average Yield/ Cost Assets: Interest-earning assets: Interest-earning deposits and short-term investments $ 154,830 $ 693 0.45% $ 38,371 $ 44 0.11% Securities (1) and FHLB stock 524,152 9,770 1.86 481,306 8,125 1.69 Loans receivable, net (2) Commercial 1,472,421 70,768 4.81 840,531 38,186 4.54 Residential 1,085,991 41,996 3.87 804,404 31,423 3.91 Home Equity 236,769 10,139 4.28 194,383 8,054 4.14 Other 957 59 6.17 482 31 6.43 Allowance for loan loss net of deferred loan fees (13,280) — — (13,639) — — Loans Receivable, net 2,782,858 122,962 4.42 1,826,161 77,694 4.25 Total interest-earning assets 3,461,840 133,425 3.85 2,345,838 85,863 3.66 Non-interest-earning assets 269,622 119,035 Total assets $ 3,731,462 $ 2,464,873 Liabilities and Stockholders' Equity: Interest-bearing liabilities: Interest-bearing checking $ 1,266,135 2,114 0.17% $ 875,325 952 0.11% Money market 316,977 858 0.27 129,775 187 0.14 Savings 447,484 191 0.04 306,151 102 0.03 Time deposits 422,026 4,354 1.03 229,786 3,060 1.33 Total 2,452,622 7,517 0.31 1,541,037 4,301 0.28 Securities sold under agreements to repurchase 75,227 102 0.14 73,029 103 0.14 FHLB Advances 266,981 4,471 1.67 253,864 3,849 1.52 Other borrowings 32,029 1,073 3.35 26,967 781 2.90 Total interest-bearing liabilities 2,826,859 13,163 0.47 1,894,897 9,034 0.48 Non-interest-bearing deposits 497,166 327,216 Non-interest-bearing Liabilities 28,454 14,851 Total liabilities 3,352,479 2,236,964 Stockholders’ equity 378,983 227,909 Total liabilities and equity $ 3,731,462 $ 2,464,873 Net interest income $ 120,262 $ 76,829 Net interest rate spread (3) 3.38% 3.18% Net interest margin (4) 3.47% 3.28% Total cost of deposits (including non-interest-bearing deposits) 0.25% 0.23% (1) Amounts are recorded at average amortized cost. (2) Amount is net of deferred loan fees, undisbursed loan funds, discounts and premiums and estimated loss allowances and includes loans held for sale and non-performing loans. (3) Net interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities. (4) Net interest margin represents net interest income divided by average interest-earning assets.

17 OceanFirst Financial Corp. SELECTED QUARTERLY FINANCIAL DATA (in thousands, except per share amounts) December 31, September 30, June 30, March 31, December 31, 2016 2016 2016 2016 2015 Selected Financial Condition Data: Total assets $ 5,167,052 $ 4,151,017 $ 4,047,493 $ 2,588,447 $ 2,593,068 Securities available-for-sale, at estimated fair value 12,224 2,497 12,509 30,085 29,902 Securities held-to-maturity, net 598,691 470,642 513,721 375,616 394,813 Federal Home Loan Bank of New York stock 19,313 18,289 21,128 16,645 19,978 Loans receivable, net 3,803,443 3,028,696 3,130,046 1,996,993 1,970,703 Loans held-for-sale 1,551 21,679 5,310 3,386 2,697 Deposits 4,187,750 3,324,681 3,206,262 1,971,360 1,916,678 Federal Home Loan Bank advances 250,498 251,146 312,603 251,917 324,385 Securities sold under agreements to repurchase and other borrowings 126,494 125,477 90,173 106,413 98,372 Stockholders' equity 572,038 417,244 409,258 241,076 238,446 For the Three Months Ended December 31, September 30, June 30, March 31, December 31, 2016 2016 2016 2016 2015 Selected Operating Data: Interest income $ 39,904 $ 37,307 $ 33,141 $ 23,073 $ 23,149 Interest expense 4,150 3,372 3,127 2,514 2,461 Net interest income 35,754 33,935 30,014 20,559 20,688 Provision for loan losses 510 888 662 563 300 Net interest income after provision for loan losses 35,244 33,047 29,352 19,996 20,388 Other income 6,257 5,896 4,883 3,376 4,118 Operating expenses 25,833 23,715 21,457 15,314 15,885 Merger related expenses 6,632 1,311 7,189 1,402 614 Income before provision for income taxes 9,036 13,917 5,589 6,656 8,007 Provision for income taxes 2,984 4,789 1,928 2,451 2,777 Net income $ 6,052 $ 9,128 $ 3,661 $ 4,205 $ 5,230 Diluted earnings per share $ 0.22 $ 0.35 $ 0.16 $ 0.25 $ 0.31 Net accretion/amortization of purchase accounting adjustments included in net interest income $ 1,385 $ 1,637 $ 1,267 $ 164 $ 177

18 (continued) At or For the Three Months Ended December 31, September 30, June 30, March 31, December 31, 2016 2016 2016 2016 2015 Selected Financial Ratios and Other Data(1): Performance Ratios (Annualized): Return on average assets (2) 0.53% 0.88% 0.40% 0.65% 0.80% Return on average stockholders' equity (2) 5.10 8.77 3.79 7.05 8.77 Return on average tangible stockholders' equity (2) (3) 6.48 10.58 4.32 7.59 8.86 Stockholders' equity to total assets 11.07 10.05 10.11 9.31 9.19 Tangible stockholders' equity to tangible assets (3) 8.30 8.50 8.51 9.23 9.12 Net interest rate spread 3.31 3.49 3.47 3.25 3.25 Net interest margin 3.40 3.56 3.57 3.34 3.35 Operating expenses to average assets (2) 2.83 2.43 3.16 2.58 2.53 Efficiency ratio (2) (4) 77.28 62.83 82.09 69.84 66.51 At or For the Years Ended December 31, 2016 2015 Performance Ratios: Return on average assets (2) 0.62% 0.82% Return on average stockholders' equity (2) 6.08 8.92 Return on average tangible stockholders' equity (2) (3) 7.13 8.96 Net interest rate spread 3.38 3.18 Net interest margin 3.47 3.28 Operating expenses to average assets (2) 2.76 2.47 Efficiency ratio (2) (4) 73.11 65.17

19 (continued) At or For the Three Months Ended December 31, September 30, June 30, March 31, December 31, 2016 2016 2016 2016 2015 Wealth Management: Assets under administration $ 218,336 $ 221,612 $ 221,277 $ 203,723 $ 229,039 Per Share Data: Cash dividends per common share $ 0.15 $ 0.13 $ 0.13 $ 0.13 $ 0.13 Stockholders' equity per common share at end of period 17.80 16.14 15.89 13.89 13.79 Tangible stockholders' equity per common share at end of period (3) 12.95 13.42 13.14 13.75 13.67 Number of full-service customer facilities: 61 50 50 28 27 Quarterly Average Balances Total securities $ 545,302 $ 533,809 $ 571,463 $ 445,696 $ 456,486 Loans, receivable, net 3,282,703 3,085,691 2,772,518 1,981,101 1,960,099 Total interest-earning assets 4,187,809 3,787,545 3,384,548 2,475,298 2,457,812 Total assets 4,556,774 4,103,835 3,647,102 2,605,017 2,587,109 Interest-bearing transaction deposits 2,512,351 2,300,589 1,899,266 1,372,357 1,371,415 Time deposits 527,817 477,496 417,301 263,722 256,378 Total borrowed funds 379,289 358,960 386,578 372,240 357,171 Total interest-bearing liabilities 3,419,457 3,137,045 2,703,145 2,008,319 1,984,964 Non-interest bearing deposits 622,882 521,088 529,230 343,371 349,473 Stockholder’s equity 471,662 414,166 388,694 239,999 236,498 Total deposits 3,663,050 3,299,173 2,845,797 1,979,450 1,977,266 Quarterly Yields Total securities 1.91% 1.91% 1.82% 1.81% 1.73% Loans, receivable, net 4.46 4.46 4.43 4.27 4.28 Total interest-earning assets 3.79 3.92 3.94 3.75 3.74 Interest-bearing transaction deposits 0.18 0.16 0.15 0.12 0.11 Time deposits 0.97 0.96 1.01 1.33 1.29 Borrowed funds 1.84 1.43 1.41 1.34 1.38 Total interest-bearing liabilities 0.48 0.43 0.47 0.50 0.49 Net interest spread 3.31 3.49 3.47 3.25 3.25 Net interest margin 3.40 3.56 3.57 3.34 3.34 Total deposits 0.26 0.25 0.25 0.26 0.24 (1) With the exception of end of quarter ratios, all ratios are based on average daily balances. (2) Performance ratios for each period include merger related expenses. Refer to Other Items - Non-GAAP Reconciliation for impact of merger related expenses. (3) Tangible stockholders' equity and tangible assets exclude intangible assets relating to goodwill and core deposit intangible. (4) Efficiency ratio represents the ratio of operating expenses to the aggregate of other income and net interest income.

20 OceanFirst Financial Corp. OTHER ITEMS (dollars in thousands, except per share amounts) NON-GAAP RECONCILIATION For the three months ended December 31, September 30, June 30, March 31, December 31, 2016 2016 2016 2016 2015 Core earnings: Net income $ 6,052 $ 9,128 $ 3,661 $ 4,205 $ 5,230 Add: Merger related expenses 6,632 1,311 7,189 1,402 614 Loss on sale of investment securities available for sale — — 12 — — Federal Home Loan Bank prepayment fee — — 136 — — Less: Income tax benefit on items (2,108) (172) (2,311) (171) (173) Core earnings $ 10,576 $ 10,267 $ 8,687 $ 5,436 $ 5,671 Core diluted earnings per share $ 0.38 $ 0.40 $ 0.38 $ 0.32 $ 0.33 Core ratios: Return on average assets 0.92% 1.00% 0.96% 0.84% 0.87% Return on average tangible stockholder's equity 11.33 11.90 10.26 9.19 9.60 COMPUTATION OF TOTAL TANGIBLE EQUITY TO TOTAL TANGIBLE ASSETS December 31, September 30, June 30, March 31, December 31, 2016 2016 2016 2016 2015 Total stockholders' equity $ 572,038 $ 417,244 $ 409,258 $ 241,076 $ 238,446 Less: Goodwill 145,064 66,537 67,102 2,081 1,822 Core deposit intangible 10,924 3,722 3,903 310 256 Tangible stockholders’ equity $ 416,050 $ 346,985 $ 338,253 $ 238,685 $ 236,368 Total assets $ 5,167,052 $ 4,151,017 $ 4,047,493 $ 2,588,447 $ 2,593,068 Less: Goodwill 145,064 66,537 67,102 2,081 1,822 Core deposit intangible 10,924 3,722 3,903 310 256 Tangible assets $ 5,011,064 $ 4,080,758 $ 3,976,488 $ 2,586,056 $ 2,590,990 Tangible stockholders' equity to tangible assets 8.30% 8.50% 8.51% 9.23% 9.12%

21 ACQUISITION DATE - FAIR VALUE BALANCE SHEET The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the date of the acquisition for Cape, net of the total consideration paid (in thousands): At May 2, 2016 (in thousands) Cape Book Value Purchase Accounting Adjustments Estimated Fair Value Total Purchase Price: $ 196,403 Assets acquired: Cash and cash equivalents $ 30,025 $ — $ 30,025 Securities and Federal Home Loan Bank Stock 218,577 361 218,938 Loans: 1,169,568 1,156,807 Specific credit fair value on credit impaired loans — (5,859) — General credit fair value — (20,545) — Interest rate fair value — 1,888 — Reverse allowance for loan losses — 9,931 — Reverse net deferred fees, premiums and discounts — 1,824 — Premises and equipment 27,972 (1,973) 25,999 Other real estate owned 2,343 (408) 1,935 Deferred tax asset 9,407 10,993 20,400 Other assets 61,793 — 61,793 Core deposit intangible 831 2,887 3,718 Total assets acquired 1,520,516 (901) 1,519,615 Liabilities assumed: Deposits (1,247,688) (679) (1,248,367) Borrowings (123,587) (879) (124,466) Other liabilities (7,611) (5,398) (13,009) Total liabilities assumed (1,378,886) (6,956) (1,385,842) Net assets acquired $ 141,630 $ (7,857) 133,773 Goodwill recorded in the merger $ 62,630 The calculation of goodwill is subject to change for up to one year after the date of acquisition as additional information relative to the closing date estimates and uncertainties become available. As the Company finalizes its review of the acquired assets and liabilities, certain adjustments to the recorded carrying values may be required.

22 ACQUISITION DATE - FAIR VALUE BALANCE SHEET The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the date of the acquisition for Ocean Shore, net of the total consideration paid (in thousands): At November 30, 2016 (in thousands) Ocean Shore Book Value Purchase Accounting Adjustments Estimated Fair Value Total Purchase Price: $ 180,732 Assets acquired: Cash and cash equivalents $ 60,871 $ — $ 60,871 Securities and Federal Home Loan Bank Stock 94,109 24 94,133 Loans: 790,396 774,046 Specific credit fair value on credit impaired loans — (2,062) — General credit fair value — (8,127) — Interest rate fair value — (5,779) — Reverse allowance for loan losses — 3,265 — Reverse net deferred fees, premiums and discounts — (3,647) — Premises and equipment 11,696 3,372 15,068 Other real estate owned 1,090 — 1,090 Deferred tax asset 5,587 2,210 7,797 Other assets 35,369 — 35,369 Core deposit intangible 348 7,158 7,506 Total assets acquired 999,466 (3,586) 995,880 Liabilities assumed: Deposits (874,301) (772) (875,073) Borrowings (3,694) — (3,694) Other liabilities (17,629) 891 (16,738) Total liabilities assumed (895,624) 119 (895,505) Net assets acquired $ 103,842 $ (3,467) 100,375 Goodwill recorded in the merger $ 80,357 The calculation of goodwill is subject to change for up to one year after the date of acquisition as additional information relative to the closing date estimates and uncertainties become available. As the Company finalizes its review of the acquired assets and liabilities, certain adjustments to the recorded carrying values may be required.