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OceanFirst Financial Corp. Announces 2025 Stock Repurchase Program

RED BANK, N.J., July 16, 2025 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:鈥淥CFC鈥�), (the 鈥淐ompany鈥�), the holding company for OceanFirst Bank N.A. (the 鈥淏ank鈥�), today announced that its Board of Directors has authorized a 2025 Stock Repurchase Program, under which the Company may repurchase up to 3 million shares, or approximately 5% of its outstanding common stock. This authorization is incremental to the Company鈥檚 existing 2021 Stock Repurchase Program.

鈥淭he repurchase program underscores our belief that OceanFirst shares represent a compelling investment opportunity,鈥� said Christopher D. Maher, Chairman and Chief Executive Officer. 鈥淭he program enhances our capital deployment flexibility, allowing us to respond opportunistically to market conditions while maintaining the capacity to invest in organic growth, strategic initiatives, and shareholder returns.鈥�

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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 鈥渂elieve鈥�, 鈥渆xpect鈥�, 鈥渋ntend鈥�, 鈥渁nticipate鈥�, 鈥渆stimate鈥�, 鈥減roject鈥�, 鈥渨ill鈥�, 鈥渟hould鈥�, 鈥渕ay鈥�, 鈥渧iew鈥�, 鈥渙pportunity鈥�, 鈥減otential鈥�, or similar expressions or expressions of confidence. The Company鈥檚 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, inflation, general economic conditions, including potential recessionary conditions, levels of unemployment in the Company鈥檚 lending area, real estate market values in the Company鈥檚 lending area, potential goodwill impairment, natural disasters, potential increases to flood insurance premiums, the current or anticipated impact of military conflict, terrorism or other geopolitical events, the imposition of tariffs or other domestic or international governmental policies, and retaliatory responses, 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, the availability of low-cost funding, changes in liquidity, including the size and composition of the Company鈥檚 deposit portfolio, and the percentage of uninsured deposits in the portfolio, changes in capital management and balance sheet strategies and the ability to successfully implement such strategies, competition, demand for financial services in the Company鈥檚 market area, changes in investor sentiment and consumer spending, borrowing and saving habits, changes in accounting principles, a failure in or breach of the Company鈥檚 operational or security systems or infrastructure, including cyberattacks, the failure to maintain current technologies, failure to retain or attract employees, the impact of pandemics on our operations and financial results and those of our customers and the Bank鈥檚 ability to successfully integrate acquired operations. These risks and uncertainties are further discussed in the Company鈥檚 Annual Report on Form 10-K for the year ended December 31, 2024, 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.

Company Contact:

Patrick S. Barrett
Chief Financial Officer
OceanFirst Financial Corp.
Tel: (732) 240-4500, ext. 27507
Email: [email protected]