RED BANK, N.J., Dec. 18, 2019 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC), the holding company for OceanFirst Bank, today announced the authorization of the Board of Directors of the 2019 Stock Repurchase Program to repurchase approximately 5% of the Company’s outstanding common stock up to an additional 2,500,000 shares. This amount is in addition to the remaining 167,996 shares available under the existing 2017 Repurchase Program.

The Company believes the repurchase of shares remains a good long-term investment opportunity due to the current market prices of the common stock; general market and economic conditions affecting the Company, the Bank and the banking industry in general; and the other alternatives available for investment by the Company.

OceanFirst Financial Corp.'s press releases are available at http://www.oceanfirst.com.