Robert M. Pardes has resigned as the chief lending officer of OceanFirst Bank in Toms River, N.J., and the president of its troubled mortgage unit, Columbia Home Loans LLC of Valhalla, N.Y.
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OceanFirst Financial Corp., the $2 billion-asset parent company, said Mr. Pardes left for personal reasons. He had joined the bank and Columbia in August 2000.
Last month OceanFirst Financial said that Columbia would be sold or closed soon, because its aggressive subprime lending — and the resulting defaults — took "a dreadful toll" on earnings. OceanFirst Financial lost $5.4 million in the first quarter.
