OceanFirst and Flushing Financial merge in $13B regional banking deal
OceanFirst Financial has announced plans to merge with Flushing Financial Corporation in an all-stock deal. The news triggered movement in OceanFirst’s share price as investors reacted to the proposed acquisition.
The merger, set to close in late 2025, will create a combined institution with over $13 billion in assets. It will also expand the branch network across New Jersey and New York. Regulatory approval remains the key hurdle before the deal can proceed.
Flushing Financial shareholders will receive OceanFirst stock under a fixed exchange ratio. The transaction aims to generate cost savings and strengthen the bank’s regional market position. Success will depend on delivering promised synergies and smooth integration. Christopher Maher will stay on as CEO of the merged company. John Buran, currently Flushing Financial’s President and CEO, will transition to non-executive Chairman of the Board. The leadership changes are expected to take effect in the second quarter of 2026, following final approvals.
The merger’s completion hinges on regulatory reviews and shareholder votes. If successful, the combined bank will operate with a larger footprint and greater financial scale. Finalisation is targeted for the fourth quarter of 2025.
