OceanFirst Bank will lay off 114 employees in December 2025, primarily from its residential mortgage division.
The bank is partnering with Embrace Home Loans to handle its future residential loan origination business.
The move reflects a broader industry trend of banks re-evaluating their mortgage models due to competition from larger firms.
TOMS RIVER — OceanFirst Bank will layoff 114 employees in December, nearly all of them working on residential mortgages, and will partner with Embrace Home Loans to handle its residential loan origination business.
The bank has filed a notice with the state listing 114 layoffs as of Dec. 18, 2025. The affected employees work in offices around New Jersey, a spokesperson said on Sept. 23. OceanFirst currently has 1,031 employees.
OceanFirst Bank laying off 114 workers, most in home loans
