Reported Earlier, OceanFirst To Acquire Flushing In All-Stock Deal Valued At $579M, Building $23B Bank, With $225M Fixed-Price Strategic Investment From Warburg Pincus
Benzinga Newsdesk 10 months ago
M&ANews
Creates a scaled, high performing regional bank with $23 billion in assets strategically located in attractive New Jersey, Long Island and New York marketsMeaningfully enhances profitability metrics with estimated EPS
- Creates a scaled, high performing regional bank with $23 billion in assets strategically located in attractive New Jersey, Long Island and New York markets
- Meaningfully enhances profitability metrics with estimated EPS accretion of 16%, ROATCE of 13% and ROAA of 1.00% by 2027
- $225 million equity raise, priced at-the-market, is fully committed at a fixed price after extensive investor due diligence by Warburg Pincus