M&A Deal Summary

OceanFirst Financial Acquires Colonial American Bank

On February 25, 2015, OceanFirst Financial acquired financial services company Colonial American Bank for 11M USD

Acquisition Highlights
  • This is OceanFirst Financial’s 1st transaction in the Financial Services sector.
  • This is OceanFirst Financial’s 3rd largest (disclosed) transaction.
  • This is OceanFirst Financial’s 1st transaction in the United States.
  • This is OceanFirst Financial’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2015-02-25
Target Colonial American Bank
Sector Financial Services
Buyer(s) OceanFirst Financial
Deal Type Add-on Acquisition
Deal Value 11M USD
Advisor(s) Sandler O'Neill + Partners (Financial)
Giordano, Halleran & Ciesla (Legal)

Target

Colonial American Bank

Horsham, Pennsylvania, United States
Colonial American Bank is a state chartered bank. Colonial is insured by the Federal Deposit Insurance Corporation ("FDIC"). Colonial maintains its principle branch office in Middletown, New Jersey and provides services primarily in Monmouth County, New Jersey and its surroundings counties.

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Buyer(S) 1

Buyer

OceanFirst Financial

Red Bank, New Jersey, United States
Category Company
Founded 1902
Sector Financial Services
Employees878
Revenue 399M USD (2023)
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 1 of 4
Sector (Financial Services) 1 of 3
Type (Add-on Acquisition) 1 of 4
State (Pennsylvania) 1 of 1
Country (United States) 1 of 4
Year (2015) 1 of 1
Size (of disclosed) 3 of 3
FOLLOWING 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
Mergr

Product

Company

Legal