OceanFirst Bank N.A. Continues Regional Expansion With Appointments of Daniel Griggs and Tom Crawford

Rhea-AI Summary

OceanFirst Financial Corp. (NASDAQ: OCFC) has expanded its commercial banking team with the appointments of Daniel Griggs and Tom Crawford as Presidents for the Boston and Baltimore markets, respectively. Griggs aims to build a team to serve businesses in Massachusetts, while Crawford leads efforts in Maryland. Both executives bring over 30 years of banking experience. The strategic move is part of OceanFirst's plans to enhance its commercial banking presence in key Northeast markets, reflecting its commitment to providing tailored financial solutions.

Positive

• Addition of experienced banking professionals in Boston and Baltimore markets.
• Strategic expansion plans to enhance commercial banking presence.
• Both appointees have over 30 years of experience in the banking sector.

Negative

• None.

RED BANK, N.J., July 26, 2021 (GLOBE NEWSWIRE) -- OceanFirst Bank N.A. (“OceanFirst”), the wholly owned subsidiary of OceanFirst Financial Corp. (NASDAQ:OCFC), announces the addition of two experienced commercial banking officers to lead the Bank’s ongoing expansion plans in the Boston and Baltimore markets.

Daniel Griggs recently joined OceanFirst as President of the Boston Regional market and is responsible for building a commercial banking team who will deliver customized financial solutions to businesses throughout Massachusetts. Most recently, Mr. Griggs was the Eastern Massachusetts Market President at TD Bank. His banking career began over 32 years ago and included positions at Bay Bank (Bank of Boston) and First NH Bank (Citizens Bank). Mr. Griggs is actively involved in the community, volunteering his time and talent as a member of the Boards of MassBay United Way, Lawrence Partnership, Merrimack Valley Chamber of Commerce and North Shore Chamber of Commerce. He has a M.B.A. from Boston University and a B.B.A from the University of Iowa.

Tom Crawford joined the Bank as President of the Baltimore Regional Market and is leading a team of seasoned commercial bankers to provide financial services to businesses throughout Maryland. Mr. Crawford was most recently Mid-Atlantic Market President at BBVA. He has been providing banking services to businesses in the Baltimore and Washington D.C. area for 35 years. After a decade with Mercantile Bank (PNC), Mr. Crawford also had leadership roles at Chevy Chase Bank (Capital One) and Provident Bank (M&T). He volunteers with several non-profit organizations, including: Chairman of the Board of Trustees at University of Baltimore, Board of Directors at the Baltimore Office of Promotion & The Arts, Baltimore Industry Roundtable for the Federal Reserve Bank of Richmond, and the Chairman’s Council & Steering Committee for Light City. Mr. Crawford has a Bachelor of Science from the University of Maryland and a M.B.A from the University of Baltimore.

Joseph J. Lebel III, OceanFirst President and Chief Operating Officer, commented, “As OceanFirst continues the strategic expansion of our commercial banking network, our experience has shown, this is a people-driven effort. We are fortunate to have Dan and Tom, both accomplished banking professionals each with more than 30 years of experience in their respective markets, join our team and lead our expansion plans in the Boston and Baltimore regions.” Mr. Lebel added, “At OceanFirst we look forward to providing commercial banking solutions to businesses in our new markets in the Northeast under the leadership of Dan and Tom.”

OceanFirst Financial Corp.’s subsidiary, OceanFirst Bank N.A., founded in 1902, is a $11.5 billion regional bank providing financial services throughout New Jersey and in the major metropolitan markets of Philadelphia, New York, Baltimore, Washington D.C. and Boston. OceanFirst Bank delivers commercial and residential financing, treasury management, trust and asset management, and deposit services and is one of the largest and oldest community-based financial institutions headquartered in New Jersey. To learn more about OceanFirst, go to www.oceanfirst.com. 

Forward-Looking Statements
        
In addition to historical information, this news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 which are based on certain assumptions and describe future plans, strategies and expectations of the Company. These forward-looking statements are generally identified by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” “will,” “should,” “may,” “view,” “opportunity,” “potential,” or similar expressions or expressions of confidence. The Company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations of the Company and its subsidiaries include, but are not limited to: the impact of the COVID-19 pandemic on our operations and financial results and those of our customers, changes in interest rates, general economic conditions, levels of unemployment in the Bank’s lending area, real estate market values in the Bank’s lending area, future natural disasters and increases to flood insurance premiums, the level of prepayments on loans and mortgage-backed securities, legislative/regulatory changes, monetary and fiscal policies of the U.S. Government including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, the quality or composition of the loan or investment portfolios, demand for loan products, deposit flows, competition, demand for financial services in the Company’s market area, accounting principles and guidelines and the Bank’s ability to successfully integrate acquired operations. These risks and uncertainties are further discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, under Item 1A - Risk Factors and elsewhere, and subsequent securities filings and should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Company Contact
Jill A. Hewitt
Senior Vice President
OceanFirst Financial Corp.
Tel: 888.263.2633, ext. 7513
Email: JHewitt@oceanfirst.com 

FAQ

What recent announcement did OceanFirst Financial Corp. make regarding its expansion?

OceanFirst announced the appointment of Daniel Griggs and Tom Crawford to lead its commercial banking efforts in the Boston and Baltimore markets.

Who are the new leaders for OceanFirst's Boston and Baltimore markets?

Daniel Griggs is the President for the Boston market, and Tom Crawford is the President for the Baltimore market.

How many years of experience do Griggs and Crawford have in banking?

Both Daniel Griggs and Tom Crawford have over 30 years of experience in the banking industry.

What is OceanFirst Financial Corp.'s stock symbol?

OceanFirst Financial Corp. trades under the stock symbol OCFC.

What services will the new teams in Boston and Baltimore provide?

The new teams will offer customized financial solutions and commercial banking services to businesses in Massachusetts and Maryland.