OCFC News & Events

OceanFirst Financial (OCFC) and Flushing Financial (FFIC) jointly announced the receipt of the requisite shareholder approvals for the previously announced combination of OceanFirst and Flushing, pursuant to the Agreement and Plan of Merger, dated December 29, 2025, by and among OceanFirst, Apollo Merger Sub Corp., a Delaware corporation and wholly-owned subsidiary of OceanFirst, and Flushing. Additionally, the New York State Department of Financial Services and the Office of the Comptroller of the Currency granted their requisite approvals of the proposed transaction on March 23, 2026, and April 6, 2026, respectively. The consummation of the proposed transaction remains subject to the receipt of the requisite regulatory approval from the Board of Governors of the Federal Reserve System and other customary closing conditions.

Reports Q4 net interest margin 2.87% from 2.69% last year. Tangible book value per common share2 increased to $19.79, as compared to $18.98 last year. CEO Christopher Maher commented, "We are pleased to present our current quarter results, which reflect strong capital and robust net loan growth, while maintaining a strong commercial loan pipeline. We recently announced entry into a merger agreement with Flushing Financial Corporation and an investment from Warburg Pincus, to further improve financial performance and operating scale. As we turn to 2026, the company remains focused on continued profitability gains, driven by the strategic initiatives undertaken during 2025 and the anticipated closing of the merger transaction in the second quarter of 2026, which is subject to receipt of regulatory approvals, approval by OceanFirst and Flushing shareholders and the satisfaction of other customary closing conditions."

Raymond James analyst Daniel Tamayo double downgraded OceanFirst Financial (OCFC) to Market Perform from Strong Buy without a price target following the company's announcement to acquire Flushing Financial (FFIC). The acquisition increases OceanFirst's presence in Long Island and Manhattan, leads to higher earnings forecasts, and was done at a at a fair price, the analyst tells investors in a research note. However, the firm expects "significant" dilution and says the deal slows the benefit of OceanFirst's shift to a stronger core deposit franchise. It also carries risk in maintaining bankers and the ability to lower funding costs in competitive markets, adds Raymond James.