During the corresponding time, Ocean Shore Holding Co. recorded a revenue increase by 3.4 % year on year, sequentially revenue grew by 1.94 %. While revenue at the Ocean Shore Holding Co.'s corporate clients
Ocean Shore Holding Co.'s Comment on Sales, Marketing and Customers
We are headquartered in Ocean City, New Jersey, and serve the southern New Jersey
shore communities through a total of eleven full-service offices, of which nine
are located in Atlantic County and two in Cape May County. Our markets are in
the southeastern corner of New Jersey, approximately 65 miles east of Philadelphia
and 130 miles south of New York.
The economy of Atlantic County is dominated by the service sector, of which the
gaming industry in nearby Atlantic City is the primary employer. Atlantic City
operated eight casinos during 2015 with a combined employment of just over 23,000
people. Both the Borgata and Tropicana Casinos are undergoing major renovations
in 2016. The Borgata will invest over $50 million into a new outdoor pool, nightclub,
fine dining restaurant and 250,000 square feet of convention space. Tropicana
will invest $25 million into the renovation of 500 hotel rooms and updated casino
floor space. We do not maintain any branches in Atlantic City, but Atlantic City
is within our lending area and some of our borrowers are employed in the gaming
industry. We closely monitor the economic environment in our market area and in
Atlantic City in particular, and we track our exposure to borrowers who are employed
in the gaming industry. Outside of Atlantic City, the FAA Technical Center continues
to be a major employer in the region with nearly 2,000 people employed by the
FAA and supporting contractors. Development of the Aviation and Research Development
Park (Next Gen) has progressed since forming collaboration with Stockton University.
Once completed, the complex will contain a combination of operational facilities,
services, laboratory systems and simulators that can create the operational environment
in a way that any researcher can conduct realistic and relevant research in an
effort to gain insight, analyses, or validation of advanced aviation concepts,
applications, and services. Additional development outside of Atlantic City includes
a 100 unit housing complex in downtown Egg Harbor City and 135 unit mixed-use
development in downtown Pleasantville.
Ocean Shore Holding Co.’s Comment on Sales, Marketing and Customers
We are headquartered in Ocean City, New Jersey, and serve the southern New Jersey
shore communities through a total of eleven full-service offices, of which nine
are located in Atlantic County and two in Cape May County. Our markets are in
the southeastern corner of New Jersey, approximately 65 miles east of Philadelphia
and 130 miles south of New York.
The economy of Atlantic County is dominated by the service sector, of which the
gaming industry in nearby Atlantic City is the primary employer. Atlantic City
operated eight casinos during 2015 with a combined employment of just over 23,000
people. Both the Borgata and Tropicana Casinos are undergoing major renovations
in 2016. The Borgata will invest over $50 million into a new outdoor pool, nightclub,
fine dining restaurant and 250,000 square feet of convention space. Tropicana
will invest $25 million into the renovation of 500 hotel rooms and updated casino
floor space. We do not maintain any branches in Atlantic City, but Atlantic City
is within our lending area and some of our borrowers are employed in the gaming
industry. We closely monitor the economic environment in our market area and in
Atlantic City in particular, and we track our exposure to borrowers who are employed
in the gaming industry. Outside of Atlantic City, the FAA Technical Center continues
to be a major employer in the region with nearly 2,000 people employed by the
FAA and supporting contractors. Development of the Aviation and Research Development
Park (Next Gen) has progressed since forming collaboration with Stockton University.
Once completed, the complex will contain a combination of operational facilities,
services, laboratory systems and simulators that can create the operational environment
in a way that any researcher can conduct realistic and relevant research in an
effort to gain insight, analyses, or validation of advanced aviation concepts,
applications, and services. Additional development outside of Atlantic City includes
a 100 unit housing complex in downtown Egg Harbor City and 135 unit mixed-use
development in downtown Pleasantville.
Sources:
Ocean Shore Holding Co.’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Ocean Shore Holding Co.’s corporate clients.
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