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-0.00134589502018835 0.000269179004037823 -0.00129205921938075 -0.000538358008075263 -0.014535666218035 -0.0156123822341857 -0.0156123822341857 -0.0156123822341857
Stock impact report

OceanFirst to buy Flushing Financial, raise $225M from Warburg Pincus [Yahoo! Finance]

OceanFirst Financial Corp. (OCFC) 
Last oceanfirst financial corp. earnings: 4/23 08:40 pm Check Earnings Report
US:NASDAQ Investor Relations: oceanfirstonline.com/home/home
Company Research Source: Yahoo! Finance
What's at stake: OceanFirst is vowing to reduce its commercial real-estate concentration, which was already hefty and will grow larger following the completion of the Flushing transaction. Forward look: Warburg Pincus will make a $225 million investment in the combined company, giving the private equity firm a seat on the board and a 12% ownership stake. UPDATE: This story includes information from OceanFirst's conference call with analysts on Tuesday as well as from a note by Janney Montgomery Scott analyst Christopher Marinac. OceanFirst Financial in New Jersey has inked one of the last bank deals of 2025, agreeing to buy Long Island-based Flushing Financial for $579 million in stock. The private equity firm Warburg Pincus will invest $225 million for newly issued equity securities alongside the acquisition, which is expected to close in the second quarter of next year. The Monday night announcement comes near the end of the most active year in bank mergers and acquisitions Show less Read more
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