OceanFirst Financial Corp. completed its merger with Flushing Financial Corporation on June 1, 2026 [6].
The acquisition expands the New Jersey-based company's footprint and asset base, positioning it for higher profitability and increased shareholder returns.
Based in Red Bank, New Jersey, OceanFirst integrated Flushing Financial, which was headquartered in Uniondale, New York. The two companies received all necessary regulatory and shareholder approvals on April 27, 2026 [5].
The transaction added approximately $8.7 billion in assets to the company's portfolio [2]. This move brought the total assets of OceanFirst Financial to $23.3 billion [1].
Following the merger, the company's dividend yield is now above 4% [3]. Financial reports for the second quarter of 2026 show a net interest margin of 3.05% [4].
Senior EVP and CFO Barrett said the company expects "mid- to high single-digit loan and deposit growth". Barrett said the company is seeing its "NIM growing past 3%" [7, 8].
The expansion is intended to leverage the combined asset base to improve overall profitability, while maintaining a competitive yield for investors.
“Total assets after merger reached $23.3 billion.”
This merger represents a strategic consolidation in the regional banking sector, allowing OceanFirst to scale its operations across the New Jersey and New York markets. By increasing its asset base by nearly $9 billion, the company is attempting to achieve economies of scale that support a higher dividend payout and a strengthened net interest margin in a competitive lending environment.
