Flushing Financial Corp (FFIC) News & EventsFFICNews & EventsFlushing Financial Corp

Q1 Revenue at $57.0M, Below Estimate of $62.0M

Reports Q1 revenue $57.0M, one estimate $62.0M. Net interest margin increased 16bps y/y and decreased 1bps q/q to 2.67%. "Our first quarter results demonstrate the strength of this franchise as we move toward closing our transaction with OceanFirst Financial Corp. Noninterest bearing deposits grew to $995.5 million, up 15% year over year, and our cost of funds declined 13 basis points from the prior quarter, driving a net interest rate margin that has expanded 16 basis points year over year. Core net income grew 25% year over year, driven by sustained net interest income growth and an improved funding mix. With a loan pipeline of $327.4 million at quarter end, up 55% year over year, we enter this next chapter from a position of strength. We look forward to completing the transaction with OceanFirst Financial Corp. and to the expanded capabilities and opportunities their platform will bring to the customers and communities we serve," said John R. Buran, President and CEO.

OceanFirst and Flushing Merger Approved by Federal Reserve

OceanFirst Financial (OCFC) and Flushing Financial Corporation (FFIC) jointly announced the receipt of regulatory approval from the Board of Governors of the Federal Reserve System on April 24, to complete the proposed merger of Flushing with and into OceanFirst. The Federal Reserve approval follows recent approvals from the New York State Department of Financial Services and the Office of the Comptroller of the Currency on March 23, and April 6, respectively. All necessary regulatory approvals to complete the proposed transaction have now been received. In addition, as previously announced, both OceanFirst and Flushing received shareholder approval for the transaction on April 2, OceanFirst and Flushing expect to close the merger no later than June 1, subject to the satisfaction or waiver of the remaining customary closing conditions.

OceanFirst and Flushing Merger Receives Shareholder Approval

OceanFirst Financial (OCFC) and Flushing Financial (FFIC) jointly announced the receipt of the requisite shareholder approvals for the previously announced combination of OceanFirst and Flushing, pursuant to the Agreement and Plan of Merger, dated December 29, 2025, by and among OceanFirst, Apollo Merger Sub Corp., a Delaware corporation and wholly-owned subsidiary of OceanFirst, and Flushing. Additionally, the New York State Department of Financial Services and the Office of the Comptroller of the Currency granted their requisite approvals of the proposed transaction on March 23, 2026, and April 6, 2026, respectively. The consummation of the proposed transaction remains subject to the receipt of the requisite regulatory approval from the Board of Governors of the Federal Reserve System and other customary closing conditions.