OceanFirst Financial and Flushing Financial Corporation announced on 29 December 2025 an all-stock merger, valued at $579 million, under which Flushing will merge into OceanFirst, forming a combined institution with approximately $23 billion in assets, $17 billion in loans, $18 billion in deposits and 71 branches. OceanFirst also secured a $225 million equity investment from Warburg Pincus, conditional on the merger closing. The combined bank will operate across New Jersey, Long Island and New York City.
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The transaction requires approval from US banking regulators before it can close. Both sets of shareholders will also need to vote in favour of the deal. The banks said they expected the deal to close in the second quarter of 2026, subject to regulatory and shareholder approvals.
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