OceanFirst to acquire Flushing Financial in $579M all-stock deal; Warburg invests $225M

OCEANFIRST FINANCIAL CORP

Merger consideration of 0.85x OCFC share per FFIC share; total value ~$579M based on OCFC's $19.76 closing price.
Combined company ~$23B assets, $17B loans, $18B deposits, 71 branches in NJ, Long Island, NY markets.
Projected 16% EPS accretion, 13% ROATCE, 1.00% ROAA by 2027; TBV dilution ~6% earned back in ~3 years.
Warburg Pincus commits $225M at $19.76/share for 9.7M common shares, 1.7M non-voting shares, plus warrant for 11.4M shares.
Expected close Q2 2026; CEO Christopher Maher stays; John Buran becomes non-executive chairman; Warburg board seat.

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