Toms River thrift snaps up Ocean City Home Bank
OceanFirst Financial Corp, a Toms River-based bank, on Wednesday said it will buy the parent of Ocean City Home Bank for $145.6 million, building on OceanFirst’s South Jersey buying spree after it swallowed up Cape Bank earlier this year. The deal, which will likely close at the end of this year or in the first few months of 2017, will make OceanFirst Bank New Jersey’s No. 4 bank by deposits, according to a press release. The newly combined bank will have $4 billion in loans, $4 billion in deposits and 61 branches from Middletown to Cape May. It was not clear whether there would be branch closures or layoffs as a result of the deal.