M&A · Financials · State Commercial Banks
Oceanfirst Financial Corp to acquire Flushing Financial Corp
Announced Dec 30, 2025 · Closed Jun 1, 2026
Deal value$225M
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock$16.80 per share
Transaction
- Acquirer
- Oceanfirst Financial Corp (OCFC)
- Target
- Flushing Financial Corp
- Buyer type
- Strategic
- Offer price per share
- $16.80
- Enterprise value
- —
- Status
- Closed Jun 1, 2026
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Stifel
- To the target
- Piper Sandler
Sector context · Financials
- Comparable deals
- 69 in the prior 24 months
- Premium
- Sector median 40.0%
- EV / Adj. EBITDA
- Sector median 13.7x
- Break fee
- Sector median 3.7%
Timeline
- AnnouncedDec 30, 2025
- Proxy filedFeb 26, 2026
- Definitive proxyFeb 26, 2026
- Shareholder voteApr 2, 2026
- ClosedJun 1, 2026
Valuation · fairness opinions
Discounted cash flowStifel$19.48$23.91
Discounted cash flowStifel$15.77$19.46
Discounted cash flowStifel$24.39$30.54
Discounted cash flowStifel$22.83$27.59
Precedent transactions$12.75$21.35
Precedent transactions$12.32$26.27
Precedent transactions$15.94$27.08
Precedent transactions$14.53$30.77
Offer $16.80
Implied value per Flushing Financial Corp share by analysis, from Stifel · DCF discount rate 12%–14%.