The Office of the Comptroller of the Currency on Dec. 4 approved the merger of OceanFirst Bank with Sun National Bank.
The merger is connected with Toms River, N.J.-based OceanFirst Financial Corp.'s acquisition of Mount Laurel, N.J.-based Sun Bancorp Inc. The transaction, which received the Federal Reserve Bank of Philadelphia's approval on Oct. 17, is slated for completion on Jan. 31, 2018, subject to customary closing conditions and completion of the Sun stockholder cash or stock election process.
The OCC also approved OceanFirst Bank's conversion to a national bank.
