OceanFirst Bank Announces New Officers Appointed to the Commercial Lending Team: George Destafney and Sean Kauffman

TOMS RIVER, N.J., May 23, 2013 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (Nasdaq:OCFC) is the holding company for OceanFirst Bank. OceanFirst Bank announced the addition of two experienced lenders to the Commercial Lending team: George Destafney and Sean D. Kauffman.

Christopher D. Maher, OceanFirst Bank President and Chief Operating Officer said, "We are pleased to welcome two seasoned commercial lenders to the OceanFirst team. George Destafney will lead the commercial lending team located in our new Red Bank Financial Solutions Center. Sean Kauffman has been a respected banker in the Jersey Shore region for 26 years and we are proud that he has decided to return to OceanFirst." Mr. Maher continued, "Commercial lending is at the forefront of our growth strategy and I am confident both George and Sean will be significant contributors to this effort."

Mr. Destafney will join OceanFirst Bank on May 28 as a Senior Vice President and Senior Relationship Manager. He will lead the commercial lending team located at the Red Bank Financial Solutions Center, serving businesses in Monmouth County and the surrounding area. Mr. Destafney has more than more than 18 years of banking experience with TD Bank, formerly Commerce Bank. Most recently he was a Senior Relationship Manager in Monmouth County.

Mr. Kauffman joins OceanFirst Bank today as a Vice President and Senior Relationship Manager in Commercial Lending and will be located in the Bank's Toms River headquarters. Mr. Kauffman will work with businesses throughout the Jersey Shore region to provide customized financing and banking solutions. Mr. Kauffman was a commercial lender at TD Bank, formerly Commerce Bank, in Toms River since 1999. Prior to his position at TD Bank, Mr. Kauffman was a Vice President in Commercial Lending at OceanFirst Bank.

OceanFirst Financial Corp.'s subsidiary, OceanFirst Bank, founded in 1902, is a federally-chartered savings bank with $2.3 billion in assets and twenty-five branches located in Ocean, Monmouth and Middlesex Counties, New Jersey. The Bank is the largest and oldest community-based financial institution headquartered in Ocean County, 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 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, 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. These risks and uncertainties are further discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2012 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.

CONTACT: Jill A. Hewitt Investor Relations Officer OceanFirst Financial Corp. Tel: (732) 240-4500, ext. 7513 Fax: (732) 349-2579 email: JAHewitt@oceanfirst.comSource:OceanFirst Financial Corp.