OceanFirst Financial Corp. and Flushing Financial Corporation Announce Merger Agreement and $225 Million Strategic Investment from Warburg Pincus

Core Viewpoint - OceanFirst Financial Corp. and Flushing Financial Corp. have entered into a definitive merger agreement to create a regional bank with $23 billion in assets, enhancing profitability metrics significantly by 2027 [1] Group 1: Merger Details - The merger will be an all-stock transaction between OceanFirst and Flushing Financial [1] - The combined entity will be strategically located in attractive markets including New Jersey, Long Island, and New York [1] Group 2: Financial Impact - The merger is expected to enhance profitability metrics with an estimated EPS accretion of 16% [1] - Projected financial metrics include a ROATCE of 13% and a ROAA of 1.00% by 2027 [1] Group 3: Capital Raise - A $225 million equity raise has been fully committed at a fixed price after extensive due diligence by Warburg Pincus [1]