Joseph M. Murphy, Country Bank Chairman and CEO (left) with the Murphy family. Photo courtesy of Country Bank
Country Bank to Merge
Country Bank Holding Company, Inc. the parent company of Country Bank, recently announced a merger with OceanFirst Financial Corp., parent company of OceanFirst Bank N.A. Under the agreement, OceanFirst will acquire Country Bank and upon completion of the merger, expected to close in the first quarter of 2020, Country Bank will merge into OceanFirst Bank.
“We are very pleased about partnering with a highperforming company that shares our community banking culture and values. We find the strategic fit of the two organizations compelling, especially for our customers that will benefit from the broader array of products and services, and for our stockholders,” said Joseph M. Murphy, Country Bank Chairman and CEO
OceanFirst was founded in 1902 and is an $8.0 billion regional bank operating throughout New Jersey, Philadelphia and New York City. “We are excited for Country Bank shareholders to join the OceanFirst family, as Country Bank shares a similar operating philosophy and builds upon our lending initiatives in New York,” said Christopher D. Maher, OceanFirst Chairman and CEO.
Country Bank is a New York State chartered commercial bank, founded in 1988, with over $780 million in assets. The bank is controlled by the Murphy family and specializes in small business and commercial real estate lending. In 2015 it opened its flagship branch on 42nd Street and Third Avenue. The bank has additional branches in Midtown, Riverdale, Woodlawn and Scarsdale.