Form 8-K OCEANFIRST FINANCIAL For: Aug 03
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): August 3, 2015
OCEANFIRST FINANCIAL CORP.
(Exact name of registrant as specified in its charter)
Delaware | 001-11713 | 22-3412577 | ||
(State or other jurisdiction of incorporation or organization) |
(Commission File No.) |
(IRS Employer Identification No.) |
975 HOOPER AVENUE, TOMS RIVER, NEW JERSEY 08753
(Address of principal executive offices, including zip code)
(732)240-4500
(Registrants telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 140.13e-4(c)) |
ITEM 8.01 | OTHER EVENTS |
On August 3, 2015, the Registrant issued a press release announcing the July 31, 2015 closing of its acquisition of Colonial American Bank. A copy of the press release is attached as Exhibit 99.1 hereto.
ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS |
(d) |
EXHIBITS | |||
99.1 |
Press release announcing the acquisition of Colonial American Bank. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
OCEANFIRST FINANCIAL CORP. |
/s/ Michael Fitzpatrick |
Michael Fitzpatrick |
Executive Vice President and Chief Financial Officer |
Dated: August 4, 2015
Exhibit 99.1
Company Contact:
Michael J. Fitzpatrick
Chief Financial Officer
OceanFirst Financial Corp.
Tel: (732)240-4500, ext. 7506
Fax: (732)349-5070
Email: [email protected]
FOR IMMEDIATE RELEASE
OCEANFIRST FINANCIAL CORP.
COMPLETES ACQUISITION OF
COLONIAL AMERICAN BANK
TOMS RIVER, NEW JERSEY, August 3, 2015 ..OceanFirst Financial Corp. (NASDAQ: OCFC), (the Company), the holding company for OceanFirst Bank (the Bank), today announced that its acquisition of Colonial American Bank (Colonial) was completed on July 31, 2015. In accordance with the Agreement and Plan of Merger dated February 25, 2015, Colonial merged with and into OceanFirst Bank.
The combined Company has assets of approximately $2.5 billion. Under the terms of the agreement, each outstanding share of Colonial common stock was exchanged for 0.3658 shares of OceanFirst common stock. OceanFirst Financial Corp. issued 660,098 shares of its common stock in this transaction, for an aggregate transaction value of $11.9 million to Colonial stockholders, option holders and warrant holders (based on the closing price of the Companys stock on the closing date).
975 Hooper Avenue ● Toms River, NJ 08753 ● 732.240.4500 tel ● wwwoceanfirst.com
OceanFirst President and Chief Executive Officer Christopher D. Maher commented on the merger, We are pleased to welcome Colonial Americans customers, employees and stockholders to the OceanFirst family. Over the next several months we will be completing the systems integration which will allow us to fully maximize this opportunity to enhance our presence in the attractive Monmouth County market.
OceanFirst Financial Corp.s subsidiary, OceanFirst Bank, founded in 1902, is a community bank with $2.5 billion in assets and twenty-six branches located in Ocean, Monmouth and Middlesex Counties, New Jersey. The Bank delivers commercial and residential financing solutions, wealth management, and deposit services throughout the central New Jersey region and is the largest and oldest financial institution headquartered in Ocean County, New Jersey.
OceanFirst Financial Corp.s press releases are available by visiting us at www.oceanfirst.com.
Forward-Looking Statements
In addition to historical information, this news release contains certain forward-looking statements within the meaning of the Private Securities Reform Act of 1995 which are based on certain assumptions and describe future plans, strategies and expectations of the Company. These forward-looking statements are generally identified by use of the words believe, expect, intend, anticipate, estimate, project, will, should, may, view, opportunity, potential, or similar expressions or expressions of confidence. The Companys ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations of the Company and its subsidiaries include, but are not limited to: changes in interest rates, general economic conditions, levels of unemployment in the Banks lending area, real estate market values in the Banks lending area, future natural disasters and increases to flood insurance premiums, the level of prepayments on loans and mortgage-backed securities, legislative/regulatory changes, monetary and fiscal policies of the U.S. Government including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, the quality or composition of the loan or investment portfolios, demand for loan products, deposit flows, competition, demand for financial services in the Companys market area and accounting principles and guidelines. These risks and uncertainties are further discussed in the Companys Annual Report on Form 10-K for the year ended December 31, 2014 and subsequent securities filings and should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
975 Hooper Avenue ● Toms River, NJ 08753 ● 732.240.4500 tel ● wwwoceanfirst.com
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- OceanFirst Financial (OCFC) PT Lowered to $16 at DA Davidson
- Oxurion Receives Transparency Notification from Atlas Special Opportunities LLC
- Kering: Description of the Share Buyback Program authorized by the Combined General Sharehoders' meeting
Create E-mail Alert Related Categories
SEC FilingsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!