OceanFirst Financial Corp. and Flushing Financial Corporation Merger Update

OceanFirst Financial Corp. and Flushing Financial Corporation announced that both companies have received the necessary shareholder approvals for their pending merger. The New York State Department of Financial Services and the Office of the Comptroller of the Currency have also granted their approvals. The merger is still subject to the approval of the Board of Governors of the Federal Reserve System and other standard closing conditions. The filing also details the voting results from OceanFirst's special meeting of stockholders, where the proposal to issue OceanFirst common stock, a new class of non-voting common equivalent stock, and warrants to Warburg Pincus LLC affiliates was approved. However, a proposal to amend OceanFirst's Certificate of Incorporation to exempt Warburg and its affiliates from a specific charter provision did not pass. The companies have also highlighted the risks and uncertainties associated with the transaction, including regulatory approvals, potential disruptions, and market conditions.