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OceanFirst Financial buying Ocean Shore Holding in $145.6M cash-and-stock deal

TomsRiver, N.J.-based OceanFirst FinancialCorp. ($2.59 billion) agreed to acquire Ocean City, N.J.-based ($1.05 billion)in a deal valued at approximately $22.47 per Ocean Shore common share, or about$145.6 million in the aggregate.

The transactionis expected to close late fourth quarter 2016 or early first quarter 2017. Underthe deal terms, shareholders of Ocean Shore common stock will be entitled to receive$4.35 in cash and 0.9667 of an OceanFirst common share for each share of Ocean Shorecommon stock.