OCEANFIRST FINANCIAL Business Summary

OceanFirst Financial Corp. (OCFC) operates as the bank holding company for OceanFirst Bank N.A., generating revenue primarily through net interest income from a diversified portfolio of commercial real estate, commercial and industrial (C&I), and residential loans. The company’s business model is centered on a single community banking segment providing retail and commercial lending, wealth management, and deposit services across the Mid-Atlantic region, specifically New Jersey, New York, and Pennsylvania. As of early 2026, OceanFirst is executing a transformative growth strategy highlighted by its pending merger with Flushing Financial Corporation and a strategic pivot toward C&I lending, which saw record growth in the preceding fiscal year. The company competes directly with regional peers such as Ameris Bancorp (ABCB), Dime Community Bancshares (DCOM), and First Financial Bancorp (FFBC), positioning itself as a high-growth, "digital-first" regional powerhouse that leverages expanded scale in the New York metropolitan market to challenge larger institutions while maintaining localized, relationship-driven service. The leadership team is led by Chairman and CEO Christopher D. Maher, who has spearheaded the company’s aggressive inorganic expansion since 2015, and President and COO Joseph J. Lebel III, an industry veteran with extensive experience in commercial banking and credit risk management. The executive suite is further supported by Senior EVP and CFO Patrick S. Barrett, who oversees capital management and balance sheet optimization, and Chief Risk Officer David Berninger. A defining feature of the company’s current capital structure is a $225 million strategic investment from Warburg Pincus, which includes representation on a board that features notable members such as former New Jersey Lieutenant Governor Kimberly M. Guadagno and incoming non-executive Chairman John Buran. This institutional backing, combined with a seasoned management team and significant board expertise, underscores OceanFirst’s transition from a coastal community bank into a major metropolitan financial institution.