OceanFirst Financial Corp. Enhances Board and Announces Chief Risk Officer Transition

RED BANK, N.J., Sept. 19, 2023 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC), today announced the appointment of three members to its Board of Directors.

• John F. Barros, Managing Principal, Civitas Builder – Boston, MA, effective September 18, 2023;
• Robert C. Garrett, CEO, Hackensack Meridian Health – Morris Township, NJ, effective October 1, 2023;
• Dalila Wilson-Scott, EVP and Chief Diversity Officer, Comcast Corporation and President, Comcast NBCUniversal Foundation – Philadelphia, PA, effective October 1, 2023.
  

Christopher D. Maher, OceanFirst Financial Corp. Chairman and Chief Executive Officer, noted, “We are pleased to welcome John, Bob, and Dalila to the existing seasoned professionals on our Board of Directors.” Maher added, “Our new Board members bring significant professional experience at large and complex organizations, provide for enhanced geographic and industry knowledge, and improve diversity. As OceanFirst’s business has grown to encompass markets from Boston to Baltimore, it is critical to ensure our Board has the requisite talent and experience to support the Company’s growth.”

Also, effective October 1, 2023, Grace Vallacchi will resign from the Board of Directors of the Company’s Bank subsidiary, in connection with her planned retirement from her position as Chief Risk Officer, which will take effect October 11, 2023. Upon Ms. Vallacchi’s retirement, David Berninger will join OceanFirst Bank as Executive Vice President and Chief Risk Officer.

Additionally, the Company announced that John E. Walsh will retire from the Board of Directors at the end of his term in May 2024. Mr. Walsh has served on the Board since 2000.

Mr. Maher commented, “Grace joined the Bank in 2017 and became a member of its Board of Directors in 2019. We appreciate her many contributions, and the impact Grace has had on the evolution of our risk management program during her tenure. Her commitment, guidance, and professionalism during many significant events over these past six years have been exceptional and on behalf of the Board, management team, and employees we wish her well.”

Maher continued, “We are pleased to welcome David Berninger as our next Chief Risk Officer. David’s experience as a senior risk management professional will make this a seamless transition as we continue to grow the Bank and enhance our enterprise risk management efforts.”  

Maher added, “We are grateful to director John Walsh for his leadership and dedication as a board member since 2000. In addition to serving as our longest tenured director, John served as Independent Lead Director for over 19 years, a responsibility that was critical to the success of the Company. I’m grateful to have had the opportunity to experience John’s thoughtful support and counsel during my career with the company. John has decided he will not request re-election when his current term expires in 2024.”