Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
WALSH JOHN E
 2. Issuer Name and Ticker or Trading Symbol
OCEANFIRST FINANCIAL CORP [OCFC] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)

975 HOOPER AVENUE		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2007
(Street)


TOMS RIVER, NJ 08754		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(check applicable line)

_X_ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Common Stock 12/31/2007   J 222 A $ 0 15,131 D (1) (2)  
Common Stock             770 I By Wife/ Cust Child 1 (2) (3)
Common Stock             710 I By Award (4)
Common Stock             384 I By Wife/ Cust Child 2 (5) (6)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 2270 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $ 22.525           05/28/2005 05/28/2014 Common Stock
5,000
  5,000
D
 
Stock Option (Right to Buy) $ 23.44           05/30/2004 05/30/2013 Common Stock
5,000
  5,000
D
 
Stock Option (Right to Buy) $ 23.475           02/15/2007 02/15/2016 Common Stock
3,000
  3,000
D
 
Stock Option (Right to Buy) $ 12.584           08/08/2001 08/08/2010 Common Stock
40,260
  40,260
D
 
Stock Option (Right to Buy) $ 17.88           02/20/2003 02/20/2012 Common Stock
9,000
  9,000
D
 
Stock Option (Right to Buy) $ 22.17           02/21/2008 02/21/2017 Common Stock
2,250
  2,250
D (7)
 

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
WALSH JOHN E
975 HOOPER AVENUE
TOMS RIVER, NJ 08754		   X      

Signatures

/s/ John K. Kelly, Power of Attorney 02/14/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Since the reporting person's last report 69 shares have vested and are now held directly.
(2) This form reflects increases in beneficial ownership resulting from exempt acquisitions pursuant to Rule 16A-11.
(3) The reporting person no longer has a reportable beneficial interest in 770 shares of common stock owned by his son and included in the reporting person's prior ownership reports. This should be noted on the next filing for this reporting person.
(4) Restricted shares awarded on February 21, 2007 under the OceanFirst Financial Corp. 2006 Stock Incentive Plan, vest in five equal annual installments beginning on March 1, 2008.
(5) This form reflects increases in beneficial ownership resulting from exempt acquisitions pursuant to Rule 16A-11.
(6) The reporting person no longer has a reportable beneficial interest in 384 shares of common stock owned by his son and included in the reporting person's prior ownership reports. This should be noted on the next filing for this reporting person.
(7) Options awarded under the OceanFirst Financial Corp. 2000 Stock Option Plan, vest in five equal annual installments beginning on February 21, 2008.

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