OCFC News & Events

OceanFirst Financial (OCFC) and Flushing Financial Corporation (FFIC) jointly announced the receipt of regulatory approval from the Board of Governors of the Federal Reserve System on April 24, to complete the proposed merger of Flushing with and into OceanFirst. The Federal Reserve approval follows recent approvals from the New York State Department of Financial Services and the Office of the Comptroller of the Currency on March 23, and April 6, respectively. All necessary regulatory approvals to complete the proposed transaction have now been received. In addition, as previously announced, both OceanFirst and Flushing received shareholder approval for the transaction on April 2, OceanFirst and Flushing expect to close the merger no later than June 1, subject to the satisfaction or waiver of the remaining customary closing conditions.

Reports Q1 tangible book value per share $19.86. Reports Q1 CET1 capital ratio 10.7%. Chairman and CEO, Christopher Maher, commented on the company's results, "We are pleased to report strong first quarter results driven by continued loan growth, net interest margin expansion, and expense discipline. The Company remains focused on growing our business and improving profitability through margin expansion and prudent expense discipline." Maher added, "Our announced merger agreement with Flushing Financial Corporation has recently been approved by shareholders, the New York State Department of Financial Services and the Office of the Comptroller of the Currency. It 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. We continue to expect the merger to close in the second quarter of 2026."

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."