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Ocean City Home Bank Ranked Eighth Best Publicly Traded Thrift in Nation for Financial Performance

^{Published on 2010-07-12 13:10:30 - Market Wire}
 

OCEAN CITY, N.J.--([ BUSINESS WIRE ])--Ocean Shore Holding Co. (NASDAQ: OSHC) announced today that SNL Financial, a financial services firm that publishes an annual list of the 100 largest publicly traded thrifts, ranked Ocean City Home Bank eighth in the United States for the twelve-month period ending March 31, 2010. Among the largest publicly traded thrifts in the State of New Jersey, the Ocean City-based bank ranked second, behind only Hudson City Bancorp, Inc.

"More than 123 years of responsible and conservative business practices, combined with outstanding produces and services and a successful public offering, have resulted in a strong financial performance from Ocean City Home Bank, year after year"

Ocean Shore Holding Co. is the holding company for Ocean City Home Bank, a federal savings bank headquartered in Ocean City, New Jersey. Ocean City Home Bank operates a total of ten full-service banking offices in eastern New Jersey.

SNL Financial based its ranking on six financial performance factors: core return on average assets (ROAA), core return on average equity (ROAE), three-year compound annual growth rate in tangible book value per share, efficiency ratio, nonperforming assets plus loans more than 90 days past due as a percentage of total assets, and net charge-offs as a percentage of average loans.

aMore than 123 years of responsible and conservative business practices, combined with outstanding produces and services and a successful public offering, have resulted in a strong financial performance from Ocean City Home Bank, year after year,a explained Steven Brady, the Banka™s President and Chief Executive Officer. aWe take great pride in this recognition from SNL Financial, and in the strength and stability that we have been able to offer our customers, our stockholders, and the community.a

In addition to the eighth place overall ranking, Ocean City Home Bank was ranked in the top ten in two of the financial performance areas. For highest tangible book value, the bank was ranked sixth in the nation, and for lowest nonperforming assets plus loans more than 90 days past due, the bank ranked seventh in the nation.

The current ranking does not represent Ocean City Home Banka™s first appearance on SNL Financiala™s a100 Largest Thriftsa list. For the year ending March 31, 2009, the bank was ranked twelfth in the nation based on SNLa™s six financial performance factors.

For more information on SNL Financiala™s ranking of publicly traded United States thrifts, visit [ www.snl.com ].