OceanFirst Bank
| Company type | Subsidiary |
|---|---|
| Industry | Banking |
| Predecessor | Point Pleasant Building & Loan Association (1902), Ocean Federal Savings and Loan (1960) |
| Founded | 1902 |
| Headquarters | Ocean County, New Jersey , United States |
Area served | New Jersey, Philadelphia, New York City, Baltimore, Boston, Washington D.C. |
| Products | Checking and savings accounts, digital and mobile banking services, residential mortgage loans, commercial lending solutions, treasury management services |
| Parent | OceanFirst Financial Corp. |
OceanFirst Bank N.A. is a regional banking institution in the United States and operates as a subsidiary under OceanFirst Financial Corp. Established and based in Ocean County, New Jersey, the bank serves customers throughout New Jersey and key urban centers such as Philadelphia, New York City, Baltimore, Boston, and Washington D.C..
Its product offerings include checking and savings accounts, digital and mobile banking services, residential mortgage loans, commercial lending solutions, and treasury management services.
History
The organization began in 1902 under the name Point Pleasant Building & Loan Association. In 1960, it was renamed Ocean Federal Savings and Loan, expanding its footprint into Middlesex County, New Jersey by 1985.
OceanFirst transitioned from a mutual institution to stock ownership through an initial public offering (IPO) in 1996, simultaneously forming OceanFirst Financial Corp. as its parent company. The bank adopted the OceanFirst Bank name in 1999. By 2018, it shifted its charter from a federal savings bank to a national commercial bank, becoming known as OceanFirst Bank N.A.
Acquisitions
Beginning in 2015, OceanFirst Financial Corp. pursued accelerated expansion by acquiring seven financial entities within New Jersey and New York City. The acquisition journey started with Colonial American Bank on July 31, 2015. In January 2016, OceanFirst acquired Cape Bancorp, Inc., which operated 22 branches and five loan offices, for $196 million.
Later that year, on November 30, OceanFirst purchased Ocean Shore Holding Co. along with its subsidiary Ocean City Home Bank—a community bank with 11 branches located in Atlantic and Cape May counties—for $146 million. The 2018 acquisition of Sun Bancorp Inc., parent company of Sun National Bank, was completed for $475 million. In January 2019, the bank finalized a $77 million purchase of Capital Bank of New Jersey, which maintained four branches across Cumberland, Gloucester, and Atlantic Counties.
On January 1, 2020, OceanFirst expanded further by acquiring Two River Bancorp for approximately $183 million and Country Bank Holding Company, Inc. for about $102.2 million. Two River Bancorp operated 14 branches and two loan offices spanning Monmouth, Ocean, Union, and Essex Counties in New Jersey. Country Bank catered to small businesses and individual clients through five branches in the metropolitan New York area.
In August 2024, OceanFirst broadened its mortgage lending capabilities by acquiring Garden State Home Loans—now functioning as Garden State Home Loans, A Division of OceanFirst Bank—with licensing to operate across 14 states. Shortly thereafter, OceanFirst acquired Spring Garden Capital Group, LLC, which specializes in financing affordable and workforce housing projects in Philadelphia, Pittsburgh, Baltimore, and Washington D.C.
Sponsorship
OceanFirst secured its inaugural commercial naming rights agreement in 2016 with Monmouth University, renaming the Multipurpose Activity Center to the OceanFirst Bank Center under a multi-year sponsorship contract.
OceanFirst Foundation
Established initially as the OceanFederal Foundation in 1996 and rebranded as the OceanFirst Foundation in 1999, this nonprofit entity supports charitable organizations through grant funding aimed at promoting growth and positive community impact. To date, it has distributed over 9,000 grants totaling more than $49 million to upwards of 1,200 nonprofit organizations.