OceanFirst and Flushing Financial Enter $579 Million Merger Agreement
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: NASDAQ.COM
- Merger Agreement Reached: OceanFirst Financial Corp. and Flushing Financial Corp. have signed a definitive merger agreement valued at approximately $579 million, expected to close in Q2 2026, which will further strengthen their competitive positions in the New Jersey, Long Island, and New York markets.
- Equity Structure Adjustment: Post-merger, Flushing shareholders will hold about 30% of the combined company, while Warburg Pincus will acquire approximately 12% through a $225 million investment, ensuring a balanced interest among stakeholders with OceanFirst shareholders retaining about 58%.
- Executive Changes: Following the merger, OceanFirst's Chairman and CEO Christopher Maher will continue as CEO of the combined entity, while Flushing's CEO John Buran will serve as the non-executive Chairman of the Board, ensuring continuity and shared expertise in management.
- Board Composition: The combined board will consist of 17 directors, including 10 from OceanFirst, 6 from Flushing, and 1 from Warburg Pincus, reflecting the integration and collaboration of multiple stakeholder interests.
FFIC
$16.89+Infinity%1D
Analyst Views on FFIC
Wall Street analysts forecast FFIC stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for FFIC is 14.25 USD with a low forecast of 14.00 USD and a high forecast of 14.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
0 Buy
2 Hold
0 Sell
Hold
Current: 17.030
Low
14.00
Averages
14.25
High
14.50
Current: 17.030
Low
14.00
Averages
14.25
High
14.50
About FFIC
Flushing Financial Corporation is the holding company for Flushing Bank (the Bank). The Bank offers the products, services, and conveniences associated with large commercial banks, including a full complement of deposit, loan, equipment finance, and cash management services. The Bank's principal business is attracting retail deposits from the general public and investing those deposits together with funds generated from ongoing operations and borrowings, primarily in originations and purchases of multi-family residential properties loans, commercial business loans, commercial real estate mortgage loans and, to a lesser extent, one-to-four family loans; construction loans; small business administration (SBA) loans; mortgage loan surrogates, such as mortgage-backed securities; and United States government securities, corporate fixed-income securities and other marketable securities. The Bank also operates an Internet branch that operates under the brands of iGObanking.com and BankPurely.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
