Investment Banking - Capital Bank of New Jersey

Transactions | Banking

Client: Capital Bank of New Jersey
Industry: Banking
Transaction Type: Mergers & Acquisitions
Role: Sell-Side Advisor

  • Capital Bank of New Jersey (“Capital”) opened for business in 2007 and since has grown to approximately $500 million in assets. It has five locations – two in Vineland (Cumberland County), one in Woodbury Heights (Gloucester), one in Hammonton (Atlantic), and a Loan Production Office in Marlton (Burlington). In 2018 Capital Bank was, for the fourth consecutive year, named by American Banker as one of the Top 200 Community Banks in the United States.
  • OceanFirst Financial Corp.’s (“OCFC”) subsidiary, OceanFirst Bank, founded in 1902, is a community bank with $7.6 billion in assets and 59 branches located throughout central and southern New Jersey. OceanFirst Bank delivers commercial and residential financing solutions, wealth management, and deposit services and is the largest and oldest community-based financial institution headquartered in Ocean County, New Jersey.
  • Capital will be acquired by OCFC, with OCFC the surviving entity in a transaction valued at approximately $80.0 million. In the transaction, Capital shareholders will receive 1.25 shares of OCFC common stock for each share of Capital common stock.
  • The acquisition closed Q2, 2019.
  • Boenning & Scattergood, Inc. served as financial advisor to and issued a fairness opinion to Capital Bank of New Jersey.