"The merged bank will have about $17 billion in loans, $18 billion in deposits and 71 branches and make OceanFirst a significant part of the Nassau and Suffolk markets. The transaction, subject to regulatory approvals and the approval by OceanFirst and Flushing shareholders, is expected to close in the second quarter of 2026. Flushing stockholders will be entitled to 0.85 shares of OceanFirst stock for each share of Flushing stock."
"OceanFirst Bank, founded in 1902, is a $14.3 billion regional bank serving customers throughout New Jersey and the major metropolitan areas between Massachusetts and Virginia. Flushing Financial, founded in 1929, operates branches on Long Island and in Queens, Brooklyn, and Manhattan. OceanFirst said the combination would expand its organic growth in New York by expanding its presence within the highly attractive, deposit-rich markets of Suffolk, Nassau, Queens, Brooklyn, and Manhattan."
OceanFirst Financial will acquire Flushing Financial in a transaction valued at $579 million, making OceanFirst the surviving brand. The combined institution will hold about $23 billion in assets, about $17 billion in loans, $18 billion in deposits, and operate 71 branches. Flushing stockholders will receive 0.85 shares of OceanFirst for each Flushing share. The deal, subject to regulatory and shareholder approvals, is expected to close in Q2 2026. OceanFirst, a $14.3 billion bank founded in 1902, and Flushing, founded in 1929, will expand OceanFirst's presence across Nassau, Suffolk, Queens, Brooklyn, and Manhattan.
Read at www.longislandpress.com
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