M&A Deal Summary

OceanFirst Financial Acquires Sun Bancorp

On June 30, 2017, OceanFirst Financial acquired financial services company Sun Bancorp for 487M USD

Acquisition Highlights
  • This is OceanFirst Financial’s 3rd transaction in the Financial Services sector.
  • This is OceanFirst Financial’s largest (disclosed) transaction.
  • This is OceanFirst Financial’s 3rd transaction in the United States.
  • This is OceanFirst Financial’s 2nd transaction in New Jersey.

M&A Deal Summary
Date 2017-06-30
Target Sun Bancorp
Sector Financial Services
Buyer(s) OceanFirst Financial
Deal Type Add-on Acquisition
Deal Value 487M USD
Advisor(s) Sandler O'Neill + Partners LP (Financial)
Wachtell, Lipton, Rosen & Katz (Legal)

Target

Sun Bancorp

Mount Laurel, New Jersey, United States
website
Sun Bancorp Inc. is a provider of commercial and retail banking services. Sun Bank serves the region through more than 30 community banking centers across eleven New Jersey counties, as well as through commercial lending offices in Edison and Mount Laurel, New Jersey, and Manhattan, New York.

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Buyer(S) 1

Buyer

OceanFirst Financial

Red Bank, New Jersey, United States

website

Category Company
Founded 1902
Sector Financial Services
Employees949
Revenue 432M USD (2022)
DESCRIPTION

OceanFirst Financial is a federally chartered stock savings bank with $2.2 billion in assets and is the largest community based financial institution headquartered in Ocean County. OceanFirst Financial was founded in 1902 and is based in Red Bank, New Jersey.

DEAL STATS #
Overall 3 of 4
Sector (Financial Services) 3 of 3
Type (Add-on Acquisition) 3 of 4
State (New Jersey) 2 of 3
Country (United States) 3 of 4
Year (2017) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-02 Cape Bancorp

Cape May Court House, New Jersey, United States

Cape Bancorp, Inc. is a provider of retail and commercial banking services to a variety of individual and small- to mid-sized businesses.

Buy $206M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-03 Trident Abstract Title Agency

Wall, New Jersey, United States

Trident Abstract Title Agency is a family-owned and operated business that provides commercial and residential title services that write title insurance through all of the nation’s underwriters and through strategic alliances can also service clients’ title insurance needs outside of New Jersey. Trident Abstract Title Agency was founded in 1975 and is based in Wall, New Jersey.

Buy -
Mergr

Product

Company

Legal