OceanFirst Financial, the holding company for OceanFirst Bank N.A., and Partners Bancorp, the parent company of The Bank of Delmarva, headquartered in Seaford, DE, and Virginia Partners Bank, headquartered in Fredericksburg, VA, agreed to terminate the merger agreement announced on Nov. 4, 2021, effective immediately.

This 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. Each party agreed to bear its own costs incurred to date with no termination fee apply for either party.