OceanFirst Financial to Acquire Trident Abstract Title Agency

February 10, 2022

OceanFirst Financial Corp. signed an agreement to acquire a majority interest in Trident Abstract Title Agency LLC.

OceanFirst Financial Corp. is the holding company for OceanFirst Bank NA, which was founded in 1902 and is a  $11.7 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.

Established in 1975, Trident is a family owned and operated business located in Wall Township, N.J. Current owners Chris Carton and Derrick Scenna will continue to manage the daily operations. Trident writes title insurance through all of the nation’s leading underwriters and through strategic alliances can also service client’s title insurance needs outside of New Jersey.

“The acquisition of Trident is a natural step for OceanFirst that provides our clients an opportunity for a substantially improved borrowing experience,” said Christopher Maher, chairman and CEO of OceanFirst.

“OceanFirst clients will have the option of working with a preferred title partner that should provide for faster and more straight-forward loan closings. Trident has been a leader in delivering superior commercial and residential title services.”

The deal includes a right to acquire 100% of Trident. The transaction is expected to close on March 1. Upon closing, Trident will operate as an independent subsidiary.

“We are thrilled to join OceanFirst as a complement to the Bank’s already robust and growing lending platform,” Scenna said. “Trident has grown with OceanFirst over the past 20 years and this was an ideal next progression for our business.”

Turk & Co. served as financial advisor to OceanFirst Financial Corp. and Giordano, Halleran & Cielsa PC served as legal counsel. Collins, Vella & Casello LLC served as Trident’s legal counsel.

Contact ALTA at 202-296-3671 or communications@alta.org.