MIDDLETOWN – OceanPoint Funding Inc., an affiliate of OceanPoint Financial Partners MHC focused on marine and recreational vehicle financing, has agreed to acquire Lending Associates Inc., a Florida-based firm specializing in marine, RV and aircraft loans.
The deal, announced Jan. 14, is expected to close in the second quarter of 2026 pending regulatory approvals.
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OceanPoint Financial Partners is a mutual holding company and the parent of BankNewport and OceanPoint Marine Lending, which operates as a specialized business line of the bank.
The Lending Associates acquisition reflects a strategic shift by OceanPoint Financial, which sold its OceanPoint Insurance Agency Inc. affiliate to the Hilb Group in 2022.
Lending Associates, led by Grant Smalling and Jack Crittenden, serves customers across Florida and Texas, as well as the West Coast, Great Lakes and New England regions. The acquisition will consolidate operations under the OceanPoint Funding brand, with Smalling leading the combined team as CEO.
OceanPoint Funding said the move strengthens its market position and broadens its geographic reach, allowing the firm to better serve RV, boat and aircraft buyers.
“The acquisition of Lending Associates represents a significant milestone in our growth strategy,” said Jack Murphy, CEO and president of both OceanPoint Financial Partners and BankNewport. “It expands our capabilities and helps more customers realize their dreams of boat or RV ownership.”
Smalling added, “We are thrilled to join the OceanPoint brand. This partnership allows us to leverage our combined strengths to enhance dealer support and provide greater value to customers across the recreational lending market.”
OceanPoint Financial Partners, founded in 2005, oversees the OceanPoint family of businesses. As a mutual organization, it reinvests earnings to serve customers and the communities where it operates, supporting long-term financial wellness and sustainable growth.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
