Exhibit 99.1

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 FINANCIAL RESULTS,

OPENING OF RED BANK FINANCIAL SOLUTIONS CENTER

TOMS RIVER, NEW JERSEY, April 18, 2013…OceanFirst Financial Corp. (NASDAQ:“OCFC”), the holding company for OceanFirst Bank (the “Bank”), today announced that diluted earnings per share amounted to $0.26 for the quarter ended March 31, 2013, as compared to $0.31 for the corresponding prior year period.

During the quarter:

The Company also announced that the Board of Directors declared its sixty-fifth consecutive quarterly cash dividend on common stock. The dividend for the quarter ended March 31, 2013 of $0.12 per share will be paid on May 10, 2013, to shareholders of record on April 29, 2013.

Chairman and CEO John R. Garbarino observed, “While earnings for the quarter were impacted by a significant addition to the reserve for repurchased loans, we were pleased to successfully reach a comprehensive settlement with an important investor as to current and all future repurchase requests. Additionally, we are excited to be expanding into a new market, bringing our extraordinary brand of community banking to our Financial Solutions Center at a premier downtown location in Red Bank.”

Results of Operations

Net income for the three months ended March 31, 2013 decreased to $4.4 million, or $0.26 per diluted share, as compared to net income of $5.6 million, or $0.31 per diluted share for the corresponding prior year period due to reductions in the (loss) gain on the sales of loans available for sale and net interest income, partly offset by reductions in the provision for loan losses and operating expenses.

Net interest income for the quarter ended March 31, 2013 decreased to $17.2 million, as compared to $19.1 million in the same prior year period, reflecting a lower net interest margin partly offset by slightly higher interest-earning assets. The net interest margin decreased to 3.16% for the quarter ended March 31, 2013, from 3.52% in the same prior year period, due to a change in the mix of average interest-earning assets from higher-yielding loans receivable into lower-yielding short-term investments and investment and mortgage-backed securities available for sale. High loan refinance volume also caused yields on loans and mortgage-backed securities to trend downward. The yield on average interest-earning assets decreased to 3.69% for the

quarter ended March 31, 2013, as compared to 4.21% for the same prior year period. For the quarter ended March 31, 2012, the yield on loans receivable benefited from commercial loan prepayment fees of $254,000, most of which was related to a single large commercial loan which increased the yield on interest-earning assets and the net interest margin by 5 basis points. Prepayment fee income for the quarter ended March 31, 2013 was $32,000. The cost of average interest-bearing liabilities decreased to 0.61% for the quarter ended March 31, 2013, as compared to 0.79%, in the same prior year period. Average interest-earning assets increased $2.8 million for the quarter ended March 31, 2013, as compared to the same prior year period. The increase in average interest-earning assets was primarily due to the increase in average short-term investments which increased $36.1 million for the quarter ended March 31, 2013 and to the increase in average investment and mortgage-backed securities, which collectively increased $9.3 million. These increases were partly offset by a decrease in average loans receivable, net, of $41.8 million for the quarter ended March 31, 2013 as compared to the same prior year period. The growth in interest-earning assets was primarily funded by an increase in average transaction deposits and non-interest-bearing deposits, partly offset by a decrease in average time deposits and borrowed funds.

For the quarter ended March 31, 2013, the provision for loan losses was $1.1 million as compared to $1.7 million for the corresponding prior year period. The decrease for the quarter ended March 31, 2013 was partly due to a reduction of $573,000 in net charge-offs for the quarter ended March 31, 2013 as compared to the same prior year period and a reduction in loans receivable, net at March 31, 2013 as compared to December 31, 2012. Although non-performing loans increased $4.1 million at March 31, 2013 as compared to December 31, 2012, all of the increase, $4.5 million, relates to loans adversely affected by superstorm Sandy. These loans were identified at December 31, 2012 and potential losses were provided for at that time. (Refer to the discussion in Asset Quality section relating to the impact of superstorm Sandy.)

Other income decreased to $3.4 million for the quarter ended March 31, 2013, as compared to $4.3 million in the same prior year period. Higher fees and service charges and an improvement in the net gain (loss) from other real estate was offset by a decrease in the net (loss) gain on the sale of loans. Effective January 1, 2013, income from the origination of reverse mortgage loans of $166,000 is classified as part of fees and service charges as compared to inclusion in the net gain on the sale of loans in the prior period as the Bank no longer closes these loans in its name. For the quarter ended March 31, 2013, the net (loss) gain on the sale of loans decreased $1.1 million to a loss of $174,000, due to an increase in the provision for repurchased loans, a decrease in loan sale volume and the reclassification of reverse mortgage income. The net (loss) gain on the sale of loans for the quarter ended March 31, 2013 was adversely impacted by an addition of $975,000 to the reserve for repurchased loans as compared to an addition of $150,000 in the same prior year period. (Refer to discussion in Asset Quality section regarding the reserve for repurchased loans.) For the quarter ended March 31, 2013, fees and service charges, exclusive of the $166,000 in fees on reverse mortgage loans, decreased $16,000, as increases in bankcard services and trust revenue were offset by decreases in fees from investment services and deposit accounts. Finally, the net gain (loss) from other real estate operations improved $52,000 for the quarter ended March 31, 2013, as compared to the same prior year period.

Operating expenses decreased by $275,000, to $12.7 million, for the quarter ended March 31, 2013 as compared to the same prior year quarter, primarily due to a reduction in incentive plan expense.

The provision for income taxes was $2.4 million for the quarter ended March 31, 2013, as compared to $3.1 million for the same prior year period. The effective tax rate was 35.1% for the quarter ended March 31, 2013, as compared to 35.7% in the same prior year period.

Financial Condition

Total assets increased by $34.5 million to $2,303.7 million at March 31, 2013, from $2,269.2 million at December 31, 2012. Cash and due from banks increased by $8.8 million, to $71.4 million at March 31, 2013, as compared to $62.5 million at December 31, 2012 and mortgage-backed securities available for sale increased by $49.3 million, to $383.1 million at March 31, 2013, as compared to $333.9 million at December 31, 2012. Loans receivable, net, decreased by $21.8 million, to $1,501.4 million at March 31, 2013 from $1,523.2 million at December 31, 2012, primarily due to prepayments and sale of newly originated 30-year fixed-rate one-to-four family loans.

Deposits increased by $20.6 million, to $1,740.3 million at March 31, 2013, from $1,719.7 million at December 31, 2012 and securities sold under agreements to repurchase with retail customers increased by $10.5 million, to $71.3 million at March 31, 2013, from $60.8 million at December 31, 2012. Stockholders’ equity decreased to $219.6 million at March 31, 2013, as compared to $219.8 million at December 31, 2012, primarily due to the repurchase of 254,340 shares of common stock for $3.6 million (average cost per share of $14.32) and the cash dividend on common stock, partly offset by net income and a reduction in accumulated other comprehensive gain (loss). At March 31, 2013, there were 580,444 shares remaining to be repurchased under the stock repurchase program adopted in the fourth quarter of 2012.

Asset Quality

The Company’s non-performing loans totaled $47.4 million at March 31, 2013, a $4.1 million increase from $43.4 million at December 31, 2012. The increase is due to the impact of superstorm Sandy which caused substantial disruption in the Bank’s market area on October 29 and 30, 2012. The Bank previously identified 124 loans totaling $30.1 million which were adversely impacted by the storm. At March 31, 2013, the status of these loans was as follows:

The Bank increased its allowance for loan losses at December 31, 2012 by $1.8 million in expectation of increasing levels of non-performing loans for borrowers impacted by superstorm Sandy. Net loan charge-offs decreased to $1.1 million for the quarter ended March 31, 2013, as compared to $1.7 million for the corresponding prior year period.

The reserve for repurchased loans and loss sharing obligations, which is included in other liabilities in the Company’s consolidated statements of financial condition, was $1.7 million at March 31, 2013, a $485,000 increase from December 31, 2012 due to an additional provision relating to loans sold to the Federal Home Loan Bank (“FHLB”), incurred losses relating to the FHLB loan sales, a comprehensive settlement with one investor relating to existing and anticipated loan repurchase requests, and recoveries of previously charged-off amounts. The Bank added $975,000 to the reserve relating to loans sold to the FHLB as part of its Mortgage

Partnership Finance (“MPF”) program. Under this program, the Bank and the FHLB share credit risk for the loans sold. The first loss position, equal to 1% of the aggregate amount of the loan pool, is absorbed by the FHLB through a reduction in credit enhancement fees paid to the Bank. The second loss position, generally covering the next 1.5% to 4.0% of the aggregate loan pool, is absorbed by the Bank. Loan losses above the combination of these two thresholds are fully absorbed by the FHLB. For the quarter ended March 31, 2013 the Bank recognized actual losses for the first time under this program of $245,000 on two loans in a single pool. In light of these realized losses, the Bank determined that additional covered losses within that loan pool were likely and recorded the additional provision. The Bank’s maximum remaining loss exposure on all loans sold to the FHLB is $1.8 million, although the Bank’s reserve for repurchased loans includes an estimate of expected future losses. Therefore, additional losses will only be recognized if loan performance deteriorates beyond expectations. The reserve for repurchased loans was reduced by a cash payment of $450,000 as part of a comprehensive settlement with a single investor which settled seven outstanding loan repurchase requests and terminated the right of the investor to make any future claims for repurchase. The anticipated loss on this comprehensive settlement was considered in establishing the repurchase reserve at December 31, 2012. The Bank also recognized $205,000 in recoveries relating to amounts previously charged-off. At March 31, 2013, there were six outstanding loan repurchase requests which the Company is disputing on loans with a total principal balance of $1.8 million, as compared to 12 outstanding loan repurchase requests with a principal balance of $3.6 million at December 31, 2012.

Conference Call

As previously announced, the Company will host an earnings conference call on Friday, April 19, 2013 at 11:00 a.m. Eastern time. The direct dial number for the call is (888) 317-6016. For those unable to participate in the conference call, a replay will be available. To access the replay, dial (877) 344-7529, Replay Conference Number 10026869 from one hour after the end of the call until October 29, 2013. 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.

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OceanFirst Financial Corp.’s subsidiary, OceanFirst Bank, founded in 1902, is a federally-chartered savings bank with $2.3 billion in assets and twenty-four 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.

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OceanFirst Financial Corp.

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(dollars in thousands, except per share amounts)

OceanFirst Financial Corp.

CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share amounts)

OceanFirst Financial Corp.

SELECTED CONSOLIDATED FINANCIAL DATA

(in thousands, except per share amounts)

OceanFirst Financial Corp.

SELECTED LOAN AND DEPOSIT DATA

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LOANS RECEIVABLE

DEPOSITS

OceanFirst Financial Corp.

ANALYSIS OF NET INTEREST INCOME