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February 06, 2016 5:17 AM ET


Company Overview of OceanFirst Bank

Company Overview

OceanFirst Bank operates as a federally chartered stock savings bank. It provides personal banking services, including checking accounts, savings accounts, online banking, mortgages, home equity loans, certificates of deposit, individual retirement accounts, investment services, and trust services. It also provides business banking services, including deposit accounts, business loans, commercial financing, cash management, online banking, merchant services, small business financing, and Visa credit cards. In addition, it offers reverse mortgages. It serves families throughout Central New Jersey. OceanFirst Bank was formerly known as Ocean Federal Savings Bank and changed its name to OceanFir...

975 Hooper Avenue

Toms River, NJ 08753

United States

Founded in 1902





Key Executives for OceanFirst Bank

Chairman, Chief Executive Officer, Chairman of OceanFirst Financial Corp and Chief Executive Officer of OceanFirst Financial Corp
Age: 65
President, Chief Operating Officer, Director, President of Oceanfirst Financial Corp, Chief Operating Officer of Oceanfirst Financial Corp and Director of Oceanfirst Financial Corp
Age: 48
Chief Financial Officer, Executive Vice President, Chief Financial Officer of OceanFirst Financial Corp and Executive Vice President of OceanFirst Financial Corp
Age: 59
Chief Administrative Officer and Executive Vice President
Age: 55
First Senior Vice President, Corporate Secretary and General Counsel
Age: 45
Compensation as of Fiscal Year 2015.

OceanFirst Bank Key Developments

OceanFirst Financial Corp. and OceanFirst Bank to Appoint Michael D. Devlin to its Board

On January 5, 2016, Cape Bancorp Inc. entered into an Agreement and Plan of Merger by and among the Company, OceanFirst Financial Corp. (“OceanFirst”), a Delaware corporation and the parent company of OceanFirst Bank, and Justice Merger Sub Corp. (“Merger Sub”), a Maryland corporation and the wholly-owned subsidiary of OceanFirst. Pursuant to the Merger Agreement, Merger Sub will merge with and into the Company, with the Company as the surviving entity, and immediately thereafter the Company will merge with and into OceanFirst, with OceanFirst as the surviving entity (the “Merger”). It is anticipated that immediately after the Merger, Cape Bank, a New Jersey-chartered savings bank, will merge with and into OceanFirst Bank, a federal savings bank, with OceanFirst Bank as the surviving bank. Pursuant to the terms of the Merger Agreement, Michael D. Devlin, President and Chief Executive Officer of the Company and Cape Bank, will be appointed to the boards of directors of OceanFirst and OceanFirst Bank following the Merger.

OceanFirst Financial Corp. and OceanFirst Bank Announce Board Changes

On March 18, 2015, John W. Chadwick resigned from the OceanFirst Financial Corp.'s Board of Directors and the Board of Directors of OceanFirst Bank. Mr. Chadwick has reached the mandatory retirement age in the company's Bylaws and would not be able to stand for re-election at the 2015 Annual Meeting of Stockholders. Mr. Chadwick resigned prior to the expiration of his term at the Annual Meeting to allow his successor to begin service as soon as possible and to allow Mr. Chadwick to devote more time to his other business, professional and charitable activities. Also on March 18, 2015, Jack M. Farris was appointed to the OceanFirst Financial Corp.'s Board of Directors and the Board of Directors of OceanFirst Bank. Mr. Farris was selected as part of a search conducted by the OceanFirst Financial Corp.'s Leadership Committee and will serve the remainder of Mr. Chadwick's term and stand for re-election at the 2015 Annual Meeting of Stockholders for a three-year term. Mr. Farris will serve on the OceanFirst Financial Corp.'s Risk committee.

OceanFirst Financial Corp. and OceanFirst Bank Appoint Christopher D. Maher as Director

OceanFirst Financial Corp., the holding company for OceanFirst Bank, announced the Directors' appointment of Christopher D. Maher to the Boards of OceanFirst Financial Corp. and OceanFirst Bank. Mr. Maher's term is scheduled to expire in 2016. Mr. Maher is President and Chief Operating Officer of the Company and the Bank. He has held both positions since he joined OceanFirst in March of 2013.

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