Based in Toms River, OceanFirst Bank plays a prominent role in the Jersey Shore economy. And Christopher Maher, the bank’s chairman and CEO, knows the region and its businesses as well as anybody. So as another summer tourist season begins to wind down, it’s a good time to check in with Maher about how Shore businesses and the market, in general, is faring.
For this edition of NJBIZ Conversations, Editor Jeff Kanige did just that — speaking with Maher about how OceanFirst clients are adapting to the rapidly evolving environment, what the bank itself did to keep up and whether the region’s scorching real estate market is maintaining its strength.
“There’s no question that the Jersey Shore was among the hottest markets through the pandemic and fortunately we we see that continuing,” he said. “So when you look at the year-over-year changes in housing values, when you look at the inventory of houses that are available on the market — which is at historic lows — it’s been really a spectacular year for the Shore and we see that in the Shore season this year as well.”