OceanFirst Buys Flushing Financial for $579M
Update: 2025-12-31
Description
OceanFirst Financials acquisition of Flushing Financial for $579 million in stock marks a significant bank merger in 2025. The deal includes a $225 million investment from Warburg Pincus, resulting in a combined bank with $23 billion in assets and 71 branches. Despite initial share drops, analysts view it as a strategic move to strengthen OceanFirsts presence in New York and New Jersey. However, OceanFirst loses its advantage of avoiding debit fee caps due to Flushings smaller asset size. The merger includes a ten percent credit and rate risk hit on Flushings multifamily loans and plans to reduce commercial real estate concentration. Maher remains CEO, with Buran as board chair for two years, aligning with OceanFirsts growth strategy post-past deals. Checkout Solipillow.com
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