OceanFirst Financial 8K Regulation FD Disclosure | OCFC 25 May 10

NASDAQ: OCFC

OceanFirst Financial Corp.

John

Garbarino

Chairman,

President

CEO

Vito

Nardelli

Executive

Vice

President

COO

Michael

Fitzpatrick

Executive

Vice

President

CFO

INVESTOR PRESENTATIONS

MAY 25 & 26, 2010

Exhibit 99.1

NASDAQ: OCFC

OceanFirst Financial Corp.

Forward

Looking

Statements:

This presentation contains certain forward-looking statements which are based on

certain assumptions and describe future plans, strategies and expectations of the

Company. These forward-looking statements are generally identified by use of

the words “believe”, “expect”, “intend”, “anticipate”, “estimate”, “project”, or similar

expressions. The Company’s ability to predict results or the actual effect of future

plans or strategies is inherently uncertain. Factors which could have a material

adverse effect on the operations of the Company and the subsidiaries include, but

are not limited to, changes in interest rates, general economic conditions,

legislative/regulatory changes, monetary and fiscal policies of the U.S.

Government, including policies of the U.S. Treasury and the Board of Governors

of the Federal Reserve System, the quality or composition of the loan or

investment portfolios, demand for loan products, deposit flows, competition,

demand for financial services in the Company’s market area and accounting

principles and guidelines. These risks and uncertainties should be considered in

evaluating forward-looking statements and undue reliance should not be placed

on such statements. The Company does not undertake – and specifically

disclaims any obligation – to publicly release the result of any revisions which

may be made to any forward-looking statements to reflect events or

circumstances after the date of such statements or to reflect the occurrence of

anticipated or unanticipated events.

NASDAQ: OCFC

Established in 1902 as a state-chartered building and loan association.

Our History

Converts to public company from a mutual structure on July 2, 1996 with

an issuance of 27.2 million¹

shares to the Bank's eligible depositors,

our Employee Stock Ownership Plan, and the OceanFirst Foundation.

As a healthy institution, accepted the Preferred Stock investment of the

U.S. Treasury under the Capital Purchase Plan for $38.3 million on

January 16, 2009. Subsequently raised $54.2 million from a follow-on

common stock offering in November 2010 with the proceeds used to

redeem the Preferred Stock investment on December 30, 2009.

Split adjusted

Entered mortgage banking business with acquisition of Columbia Home

Loans in 2000; shuttered the subsidiary in 2007.

NASDAQ: OCFC

Fundamental Franchise and Shareholder Value

OCFC Considerations

Superior Market Demographics

Strong Credit Metrics

Commercial Banking Platform with Solid Core Deposits

Consistent Financial Performance and Fortified Capital Position

Attractive Valuation

NASDAQ: OCFC

(

Ocean

Burlington

Morris

Sussex

Atlantic

Salem

Warren

Monmouth

Hunterdon

Cumberland

Bergen

Mercer

Somerset

Middlesex

Gloucester

Camden

Passaic

Cape May

Essex

Union

Hudson

Branch Map

Philadelphia

New York

NASDAQ: OCFC

Senior Management

Michael J. Fitzpatrick

Insider ownership of 28.0% is substantial

OceanFirst Bank ESOP 10.5%

OceanFirst Foundation 7.4%

Directors & Senior Executive Officers 10.1%

# of

Years

Years in

Name

Position

at OCFC

Banking

Professional Experience

John R. Garbarino

Chairman, CEO, & President

John R. Garbarino

has served as Chairman, President and Chief Executive Officer of

OceanFirst Financial Corp. since 1995. He has served in various capacities for OceanFirst

Bank since 1971 and has been a member of the Bank’s senior management since 1979. In

1985, he was elected President and Chief Executive Officer of the Bank. He has been a

member of the Bank’s Board of Directors since 1984 and was appointed Chairman of the

Board in 1989.

Vito R. Nardelli

Chief Operating Officer & Executive Vice President

Vito R. Nardelli

has been Executive Vice President, Chief Operating Officer of OceanFirst

Bank since September 2005. He has been employed with the Bank since June 1, 2004. Prior

to that, he had an extensive career of over 30 years in community banking in New Jersey

and also prior experience with First Union Financial Corp., Chase Manhattan Bank, and

Marine Midland Bank. He has also served as Director of Retail Banking for The Trust

Company of New Jersey and, until 2003, as Division President of the Dime Savings Bank of

New Jersey.

Michael J. Fitzpatrick has been Executive Vice President and Chief Financial Officer of

OceanFirst Financial Corp. since 1995. He has also been Executive Vice President and Chief

Financial Officer of OceanFirst Bank since 1992, when he joined the firm. Prior to that, he

was with KPMG for 11 years.

Joseph J. Lebel, III

Chief Lending Officer & First Senior Vice President

Joseph

Lebel

III

has

been

First

Senior

Vice

President,

Chief

Lending

Officer

the

Bank

since May 2007. Prior to that, he was Senior Vice President of the Bank since he joined the

Bank in April 2006. Before then, he was employed with Wachovia Bank N.A. for

approximately 22 years, most recently as Senior Vice President.

Ownership data as of the March 9, 2010 proxy record date.

Chief Financial Officer & Executive Vice President

NASDAQ: OCFC

Deposit Market Share

11,719,863

12,693,674

195

Total For Institutions In Market

1.50

176,034

1.50

190,051

Shore Community Bank (NJ)

1.91

223,633

1.80

228,140

Sun Bancorp Inc. (NJ)

3.59

420,931

3.65

463,303

PNC Financial Services Group (PA)

4.69

549,695

4.74

602,140

Investors Bancorp Inc. (MHC) (NJ)

9.78

1,146,744

9.29

1,179,785

OceanFirst Financial Corp. (NJ)

8.60

1,007,417

10.19

1,293,891

Bank of America Corp. (NC)

11.98

1,404,152

11.70

1,485,578

Banco

Santander S.A.

14.86

1,741,299

13.87

1,760,300

Toronto-Dominion Bank

19.37

2,270,568

16.54

2,099,640

Wells Fargo & Co. (CA)

16.54

1,938,596

18.71

2,375,136

Hudson City Bancorp Inc. (NJ)

Ocean County, NJ

(%)

($000)

(%)

($000)

Branches

Institution

Rank

Mkt. Shr.

Dep. In Mkt.

Mkt. Shr.

Dep. In Mkt.

# of

June 30, 2008

June 30, 2009

NASDAQ: OCFC

Market Demographics

5.4

79,468

2.2

795,633

0.3

3.8

Middlesex

5.9

83,164

1.8

646,088

0.9

10.6

Monmouth

4.1

5.6

11.6

Projected 2009-2014 Median

Household Income Growth

(%)

4.6

1.7

4.9

54,719

National

72,809

New Jersey

60,787

Median Household Income ($)

575,822

Population

9.3

Market Share (%)

Market Rank

85.6

Ocean

Data as of June 30, 2009

Source: SNL Financial

% of OceanFirst Deposits

Projected 2009-2014

Population Growth (%)

NASDAQ: OCFC

Loan Composition Transition

(1) Consumer and other loans primarily consist of home equity lines and loans.

Commercial

R.E., 24.3%

Residential

R.E., 57.6%

Commercial

& Industrial,

4.6%

Construction

R.E., 0.5%

Consumer &

Other(1),

13.0%

Commercial

R.E., 16.5%

Residential

R.E., 69.8%

Commercial

& Industrial,

3.8%

Construction

R.E., 1.3%

Consumer &

Other(1),

8.6%

December 31, 2005

March 31, 2010

NASDAQ: OCFC

Commercial Loan Portfolio Segmentation

Construction, 5.2%

Retail Trade, 4.5%

Other Services, 5.2%

Manufacturing, 5.6%

Miscellaneous, 11.1%

Arts/Entertainment/

Recreation, 10.6%

Healthcare, 6.0%

Wholesale Trade,

7.1%

Real Estate

Investment, 36.1%

Accommodations/

Food Services, 8.6%

Total Commercial Loan Portfolio

by Industry Concentration

Real Estate Investment by

Property Concentration

Office, 25.6%

Shopping Center, 12.5%

Retail Store, 9.1%

Multi-Family, 7.3%

Commercial

Development, 3.3%

Residential

Development, 3.3%

Miscellaneous, 15.9%

Land, 4.0%

Industrial/

Warehouse,

19.0%

Data as of March 31, 2010

NASDAQ: OCFC

Asset Quality Metrics

March 31, 2010 data annualized.

For

the

year

ended

December

31,

2009

and

the

three

months

ended

March

31,

2010,

the

net

charge-offs

include

$960,000 and $844,000, respectively, relating to loans originated by Columbia Home Loans, LLC, the Company’s

mortgage banking subsidiary which has since been shuttered.

Note: See Appendix for specific loan portfolio metrics.

15,632

14,723

11,665

10,468

10,238

Allowance for Loan Losses ($000)

1.60

1.52

0.92

0.48

0.23

NPAs

/ Assets (%)

1.95

1.72

0.97

0.52

0.25

NPLs

/ Loans (%)

1,291

2,642

578

470

372

Total Net Chargeoffs

Total Net Chargeoffs

Chargeoffs

($000)

0.32

0.16

0.03

0.02

Total

NCOs

Total

Average

Loans

(%)

March 31, 2010

2009

2008

2007

2006

At or for the Three

Months Ended

At or for the Year Ended

December 31

NASDAQ: OCFC

0.24%

$3,992

13.0%

$215,115

Consumer

0.31%

$5,212

24.9%

$411,683

Commercial

Real Estate and

Construction

0.03%

$466

4.5%

$75,423

Commercial

1.95%

1.37%

Percent of Total Loans

$32,303

$22,633

Non-Performing Loans

100.0%

57.6%

Percent of Total Loans

$1,655,833

$953,612

Loan Portfolio Balance

Total

One-to-Four

Family

Strong Portfolio Performance

Data as of March 31, 2010

(Dollars in thousands)

NASDAQ: OCFC

Favorable Residential Delinquency Comparisons

Quarterly Delinquency Trends

MBA –

Mortgage Bankers Association

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

16.00%

18.00%

Quarters

OCFC All Mortgage Loans

MBA All Mortgage Loans

MBA Conventional (Prime) Mortgage Loans

NASDAQ: OCFC

Deposit Composition Transition

(1) Jumbo CDs have a balance of $100,000 or greater.

December 31, 2005

March 31, 2010

Interest

Bearing

Demand

Deposits,

44.6%

Non-Interest

Bearing

Demand

Deposits,

8.5%

Jumbo Time

Deposits(1),

5.3%

Retail Time

Deposits,

16.7%

MMDA &

Savings,

24.9%

Interest

Bearing

Demand

Deposits,

28.2%

Non-Interest

Bearing

Demand

Deposits,

8.9%

Jumbo Time

Deposits(1),

8.1%

Retail Time

Deposits,

27.7%

MMDA &

Savings,

27.1%

NASDAQ: OCFC

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

2006

2007

2008

2009

MRQ

3/31/10

OCFC

Profitability Ratios

0.0%

0.1%

0.2%

0.3%

0.4%

0.5%

0.6%

0.7%

0.8%

0.9%

2006

2007

2008

2009

MRQ

3/31/10

OCFC

2.5%

2.7%

2.9%

3.1%

3.3%

3.5%

3.7%

3.9%

2006

2007

2008

2009

MRQ

3/31/10

OCFC

ROAA

ROAE

Net Interest Margin

Non-Interest Income / Average Assets

0.0%

0.1%

0.2%

0.3%

0.4%

0.5%

0.6%

0.7%

0.8%

0.9%

2006

2007

2008

2009

MRQ

3/31/10

OCFC

(A)

(A) 2007 adversely impacted by losses in the shuttering of Columbia Home Loans.

(A)

NASDAQ: OCFC

Capital Ratios

Tangible Common Equity to Total Assets

0.00

2.00

4.00

6.00

8.00

10.00

2006

2007

2008

2009

3/31/2010

At December 31

NASDAQ: OCFC

Attractive Valuation Metrics

OCFC

Peers¹

12.1x

13.0x

126%

Valuation

Price / Tang. Book Value

145%

Price / LQA EPS

17.9x

Price / Estimated EPS

14.4x

Peers include: ALNC, CNBC, DCOM, FFIC, HUVL, LBAI, PBNY, PGC, SMTB, STBC, STL, SUBK, and TRST

Note: Financial data for the period ended March 31, 2010; Incorporates $12.49 share price as of May 21, 2010

NASDAQ: OCFC

Why OCFC…?

Fundamental franchise value

Experienced management team and insider ownership

Attractive branch footprint and demographics

Conservative credit culture and profile

Strong commercial bank-like balance sheet

Demonstrated financial management

Attractive Valuation

NASDAQ: OCFC

APPENDIX 1

OCEANFIRST FINANCIAL CORP.

LOAN PORTFOLIO

METRICS

ALL AMOUNTS AT MARCH 31, 2010

UNLESS OTHERWISE NOTED

Average size of mortgage loans

$185,000

Interest-only loans -

Amount

$113.2 million

Percent of total one-to-four family loans

11.7%

Stated income loans -

Amount

$70.1 million

Percent of total one-to-four family loans

7.2%

Weighted average loan-to-value ratio

58%

Weighted average loan-to-value ratio of loans originated for the year ended December 31, 2009

62%

63%

Average FICO score

743

Average FICO score of loans originated for the year ended December 31, 2009

756

Average FICO score of loans originated for the three months ended March 31, 2010

743

Percent of jumbo loans at origination

45.7%

Percent of loans outside the New York/New Jersey market

6.7%

Percent of loans for second homes

7.8%

Commercial Real Estate

Average size of commercial real estate loans

$662,000

Largest commercial real estate loan

$13.9 million

Largest relationship outstanding (9 credits)

$10.9 million

Commercial Loans

Average size of commercial loan

$162,000

Largest commercial loan

$11.5

million

One-to-Four Family Loans

Weighted average loan-to-value ratio of loans originated for the three months ended March 31, 2010

OceanFirst Financial (OCFC) 8-KRegulation FD Disclosure