OceanPoint Funding Inc., an affiliate of OceanPoint Financial Partners MHC, announced Wednesday it has entered into an agreement to acquire Lending Associates Inc., a marine, RV and aircraft lender headquartered in St. Petersburg, Florida.
The agreement was signed Jan. 14, according to a news release from the Middletown-based company.
Lending Associates is led by Grant Smalling and Jack Crittenden, with a team serving the West Coast, Great Lakes, New England, Texas and Florida. The company brings decades of industry experience in the recreational lending market.
The transaction is subject to regulatory and other necessary approvals. OceanPoint anticipates the deal will close in the second quarter of 2026, at which time both teams will operate under the unified OceanPoint Funding brand, led by Smalling.
“The acquisition of Lending Associates represents a significant milestone in our growth strategy,” said Jack Murphy, president of OceanPoint Financial Partners MHC. “This acquisition will be an exciting step; it will expand our capabilities and help more customers realize their dreams of boat or RV ownership.”
“We are thrilled to join the OceanPoint brand,” said Smalling. “This partnership will enable us to leverage our combined strengths to better serve customers, enhance the support we provide to our dealers, and deliver greater value across the recreational lending market.”
OceanPoint Financial Partners MHC was established in 2005 and oversees OceanPoint’s family of businesses, including the OceanPoint Marine Lending brand. As a mutual organization, OceanPoint reinvests earnings to serve customers and the communities where it operates.
