Simpson Thacher is representing OceanFirst Financial Corp. (“OCFC”) in connection with its proposed merger with Flushing Financial Corporation (“Flushing”) in an all-stock transaction valued at $579 million. The merger is expected to be completed during the second quarter of 2026, subject to certain conditions, including the receipt of required regulatory approvals, and approval by OCFC and Flushing shareholders. Following the closing of the merger, the combined company is expected to have approximately $23 billion in assets, $17 billion in total loans, and $18 billion in total deposits across 71 retail branches.
Simpson Thacher is also representing OCFC in connection with the sale of $225 million in newly issued securities to Warburg Pincus, concurrently with, and subject to, the closing of the merger.
The Simpson Thacher team includes: Sven Mickisch, Matt Nemeroff, Brian Christiansen, Makala Kaupalolo, Jack Nalen, Collin Janus, Joseph Pucciarelli and Dasha Kolyaskina (Financial Institutions); Edgar Lewandowski and Erin Camia (Capital Markets); Kelly Karapetyan and Richard Jamgochian (Antitrust); Larry Moss and Ryan Stott (Executive Compensation and Employee Benefits); James Talbot and Margerite Blase (Intellectual Property); and Jonathan Goldstein and Matthew Lester (Tax).