Company Profile
- OceanFirst Financial Corp. (NASDAQ: OCFC) (“OceanFirst” or “the company”) is the BHC for main subsidiary, OceanFirst Bank, N.A. (“the bank”), which operates 47 locations spanning from Baltimore to Boston. That said, the majority of the branch network is concentrated in NJ, where the bank holds the 3rd largest deposit market share among locally headquartered institutions.
- Between 2015 and 2020, OCFC pursued an aggressive M&A strategy, acquiring 7 banks and adding over $7 billion in assets, which helped diversify operations beyond the legacy footprint in Southern/Central NJ. Since then, however, OCFC has shifted its focus to organic growth, with an emphasis on expanding in major metro areas such as New York, Boston, Philadelphia, Baltimore, and Washington, D.C. These MSAs are now key targets for expansion, supported by strategic hiring, particularly C&I lenders, with many of the new bankers bringing experience from larger banks. The company has…