Ocean Shore Holding Co. (Nasdaq: OSHC), the holding company for Ocean City Home Bank, announced today that it has completed its previously announced acquisition of CBHC Financialcorp, Inc. and its wholly-owned subsidiary, Select Bank, effective August 1, 2011. The aggregate purchase price, which was paid in cash, was $12.5 million.
Prior to the acquisition, Select Bank operated five offices in Atlantic County, New Jersey. Following consolidation of three overlapping offices, which is scheduled for mid-September, Ocean City Home Bank will have a branch network of 12 full service offices. The Company is adding approximately $86 million in loans and $120 million in deposits, before purchase accounting adjustments.
Ocean Shore Holding Co., which now has total assets of approximately
$1.0 billion, is the holding company for Ocean City Home Bank, a federal
savings bank headquartered in Ocean City, New Jersey.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV