Two South Jersey Banks Announce Impending Merger

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SOUTH JERSEY -

Officials with two South Jersey banks have announced they will be merging together.

OceanFirst Financial Corporation and Capital Bank of New Jersey officials jointly announced that OceanFirst and Capital Bank have entered into an agreement in which Capital Bank will merge into OceanFirst.

The sale of Capital Bank of New Jersey, which is expected to be finalized next year, cost nearly $80 million.

Capital Bank serves the Southern New Jersey and greater Philadelphia metro markets through four branches located in Cumberland, Gloucester, and Atlantic counties.

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