OceanFirst and Flushing Financial Receive Shareholder Approval

The two banks have cleared a key hurdle in their proposed merger.

Apr. 7, 2026 at 2:21am

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An extreme close-up of meshing metal gears and machinery, representing the complex financial and operational integration of two banking institutions.The merger of OceanFirst and Flushing Financial will create a more formidable regional banking powerhouse in the Northeast.Uniondale Today

OceanFirst Financial Corp. and Flushing Financial Corporation have announced that they have received the requisite shareholder approval for their proposed merger. The two banks, based in New Jersey and New York respectively, are now one step closer to completing the transaction after securing the necessary votes from their investors.

Why it matters

The merger of these two regional banks would create a combined entity with over $20 billion in assets, making it a more formidable competitor in the Northeast banking market. The deal is part of a broader trend of consolidation in the industry as smaller and mid-sized banks seek to gain scale and efficiency.

The details

Under the terms of the agreement, Flushing Financial shareholders will receive 0.6431 shares of OceanFirst common stock for each share of Flushing Financial common stock they own. The transaction is expected to close in the third quarter of 2026, pending regulatory approvals.

  • The shareholder vote took place on April 6, 2026.
  • The merger is expected to close in the third quarter of 2026.

The players

OceanFirst Financial Corp.

A bank holding company based in Red Bank, New Jersey that provides commercial and retail banking services.

Flushing Financial Corporation

A bank holding company based in Uniondale, New York that provides banking and financial services through its subsidiary, Flushing Bank.

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What they’re saying

“We are pleased to have received the strong support of our shareholders for this transformative merger.”

— Christopher Maher, Chairman, President and CEO of OceanFirst Financial Corp.

“This merger will create a leading community bank in the Northeast with the scale and capabilities to better serve our customers and communities.”

— John R. Buran, President and CEO of Flushing Financial Corporation

What’s next

The merger is expected to close in the third quarter of 2026, pending regulatory approvals from the Federal Reserve and other banking authorities.

The takeaway

The shareholder approval marks a significant milestone in the consolidation of these two regional banks, which will create a stronger, more competitive institution in the Northeast banking market.