Flushing Financial to Be Acquired by OceanFirst Financial

Flushing Financial ( (FFIC) ) has shared an announcement.

On December 29, 2025, Flushing Financial Corporation agreed to be acquired by OceanFirst Financial Corp. through a two-step merger structure under which a newly formed OceanFirst subsidiary will merge into Flushing, followed by Flushing’s merger into OceanFirst and the subsequent consolidation of Flushing Bank into OceanFirst Bank, with the combined bank expected to close in the second quarter of 2026, subject to regulatory and shareholder approvals. Flushing shareholders will receive 0.85 shares of OceanFirst common stock for each Flushing share, while governance arrangements will give six Flushing directors seats on a 17‑member OceanFirst board, name Flushing CEO John R. Buran non‑executive chairman for two years post‑closing, and preserve Flushing’s Uniondale headquarters as a regional hub. Concurrently, OceanFirst secured a $225 million capital investment from Warburg Pincus affiliates, including new common and non‑voting common‑equivalent stock and a substantial warrant, with both the investment and merger transactions cross‑conditioned on each other’s closing. Flushing and OceanFirst also entered into reciprocal voting agreements with directors and key officers to support shareholder approvals, and the merger agreement includes customary covenants, regulatory and tax closing conditions, and tiered termination fees that increase significantly if the Warburg investment fails under specified scenarios. In connection with the deal, Flushing implemented a suite of executive compensation actions effective around December 31, 2025, including cash retention awards for senior executives tied to closing and post‑closing service, accelerated pre‑payments of an estimated 85% of 2025 bonuses subject to clawback, and one‑time cash payments in exchange for terminating retiree health and welfare benefits, signaling both leadership transition planning and a cleanup of legacy benefit obligations ahead of the transaction’s completion.

The most recent analyst rating on (FFIC) stock is a Hold with a $16.00 price target. To see the full list of analyst forecasts on Flushing Financial stock, see the FFIC Stock Forecast page.

Spark’s Take on FFIC Stock

According to Spark, TipRanks’ AI Analyst, FFIC is a Neutral.

FFIC scores mid-range primarily due to weak recent profitability and negative margin/ROE trends, partially offset by improving cash flow and a more constructive earnings outlook (better core EPS, NIM expansion, improving credit). Technical momentum remains weak, while the high dividend yield and the announced acquisition provide additional support.

To see Spark’s full report on FFIC stock, click here.

More about Flushing Financial

Flushing Financial Corporation is the parent of Flushing Bank, a New York‑chartered bank that provides retail and commercial banking services, with a geographic focus on the New York metropolitan area. Following its planned combination with OceanFirst Financial Corp. and OceanFirst Bank, Flushing’s Uniondale, New York headquarters will be retained as an operational hub for the enlarged organization’s regional presence.

Average Trading Volume: 339,955

Technical Sentiment Signal: Strong Buy

Current Market Cap: $511.4M

See more insights into FFIC stock on TipRanks’ Stock Analysis page.