OceanFirst Financial Corp. (OCFC), the holding company for OceanFirst Bank N.A., and Partners Bancorp (PTRS) announced they have agreed to terminate the merger agreement announced on November 4, 2021, effective immediately. The termination was approved by both companies’ boards of directors after careful consideration of the proposed merger and the progress made towards completing the proposed merger. In addition, each party has agreed to bear its own costs incurred to date and no termination fee will apply for either party.
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