TOMS RIVER – OceanFirst Financial Corp. (NASDAQ:OCFC), the holding company for OceanFirst Bank, today announced a commitment to increase the bank’s minimum hourly pay rate to $15 within 30 days of the enactment of the Tax Cuts and Jobs Act which has been approved by Congress and is expected to be signed into law in the near future.
“The company has a unique opportunity to show our appreciation for the contributions of our hourly wage employees and recognize these team members who embrace their responsibilities every day to deliver exceptional service to OceanFirst customers,” said Chairman and Chief Executive Officer Christopher D. Maher. Mr. Maher added, “We choose to invest in our employees because we believe that dedicated employees are the foundation for a successful company.”
The minimum hourly wage for OceanFirst Bank employees is already above the New Jersey minimum hourly wage of $8.60, which will be effective Jan. 1, 2018.
More than 135 OceanFirst Bank employees are expected to benefit from the minimum hourly wage increase to $15, with some increases that could be as high as 33 percent when the adjustment is effective.
OceanFirst Financial Corp.’s subsidiary, OceanFirst Bank, founded in 1902, is a community bank with $5.2 billion in assets and branches located throughout central and southern New Jersey. OceanFirst Bank delivers commercial and residential financing solutions, wealth management and deposit services, and is the largest and oldest community-based financial institution headquartered in Ocean County, New Jersey.
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Do you think it's appropriate for BLM to call for "Burning down the city" and "Black Vigilantes" because…
