OceanFirst Financial completes stock offering

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Related Companies Central Jersey Bancorp (CJBK) OceanFirst Financial Corp. (OCFC)

Related Documents 8-K OceanFirst Financial Corp. 11/3/2009, filed on 11/3/2009 Press Release (PR) OceanFirst Financial Corp. 11/3/2009, filed on 11/3/2009

Related Articles 10/29/2009 OceanFirst Financial prices common offering

Related Issues in Focus The World According to TARP

Related Deals OceanFirst Financial Corp./Central Jersey Bancorp

Related Offerings 11/24/2008 $11M Preferred Equity 2/17/2009 Preferred Equity 10/26/2009 $57M Common Equity

OceanFirst Financial Corp. said in a Form 8-K filed Nov. 3 that it completed an offering of 5,556,000 shares of common stock at a price of $9 per share.

The company said it expects to use a portion of the net proceeds of approximately $46.9 million from the offering to repurchase the fixed-rate cumulative perpetual preferred stock, series A, sold to the U.S. Treasury Department under TARP. It also plans to repurchase the fixed-rate cumulative perpetual preferred stock of Central Jersey Bancorp, also sold to the Treasury, if the preferred stock remains outstanding after consummation of the company's merger with Central Jersey.

Both OceanFirst and Central Jersey have submitted applications to repurchase their respective shares of preferred stock, the filing said. Net proceeds from the offering not used to repurchase preferred stock will be used for general corporate purposes.