Subsequent Event

9 Months Ended

Sep. 30, 2016

Subsequent Events [Abstract]

Subsequent Event

Note 10. Subsequent Event

On July 13, 2016, the Company announced an agreement to acquire Ocean Shore Holding Co. (“Ocean Shore”), headquartered in Ocean City, New Jersey, in a transaction valued at approximately $145.6 million. Under the terms of the agreement, Ocean Shore stockholders will be entitled to receive $4.35 in cash and 0.9667 shares of OceanFirst common stock, for each share of Ocean Shore common stock. The transaction is expected to close on November 30, 2016, subject to certain conditions, including approval by stockholders of each company and customary closing conditions. The Company received the required regulatory approvals of the Office of the Comptroller of the Currency on October 27, 2016. Ocean Shore operates 11 banking offices throughout Cape May and Atlantic counties in New Jersey.