OceanFirst Financial Corp and Flushing Financial Corp have entered into a definitive merger agreement to combine in an all-stock merger transaction valued at $579 million. This merger will create a high-performing regional bank with significant presence across New Jersey, Long Island, and New York markets, combining assets to total $23 billion. The merger is expected to enhance profitability metrics with an estimated EPS accretion of 16%, ROATCE of 13%, and ROAA of 1.00% by 2027. A $225 million equity raise, priced at-the-market and fully committed, will support the merger. The transaction is expected to close in the second quarter of 2026, subject to regulatory approvals and shareholder votes.

Read more at GlobeNewswire: OceanFirst Financial Corp. and Flushing Financial