Leadership Sees Strategic Fit
“This acquisition represents a natural extension of our proven growth strategy,” said Christopher Maher, chairman and chief executive officer of OceanFirst. He said the combination unites two complementary franchises, blending Flushing’s nearly century-old distribution network in Long Island and New York with OceanFirst’s relationship-driven banking model.
Maher emphasized that both institutions share a disciplined credit culture and a long-term focus on community banking, positioning the merged company to deliver value to customers and shareholders.
Timing and Approvals
The banks expect the deal to close in the second quarter of 2026, pending regulatory approvals, shareholder votes and other customary conditions. OceanFirst said the Warburg Pincus-backed equity raise is expected to close concurrently with the merger.
Two Banks, Long Histories
Founded in 1902, Toms River-based OceanFirst is currently a $14.3 billion institution serving retail and business customers through 35 branches across New Jersey, plus locations in Philadelphia and New York.
Flushing Bank, established in 1929, operates 30 branches and runs online banking platforms under the iGObanking and BankPurely brands. As of Sept. 30, 2025, Flushing reported $8.8 billion in total assets.
OceanFirst said the deal will immediately deepen its presence in “deposit-rich markets” across Suffolk and Nassau counties and the New York City boroughs of Queens, Brooklyn and Manhattan.
