Corporate acquisition (stock for stock) results in 10 extra false transactions added

DRMick

06/02/2026 Windows 11 Q- R67.10

Stock Merger

OCFC OCEANFIRST FINL CORP 191 shares

Acquires

FFIC FLUSHING FINL CORP-225.0823 shares

Price per share $.85 for each FFIC share

I used the Corporate acquisition function , It appeared to do the first 2 transactions correctly but then added 10 more transactions that made no sense, It did not change the cash balance but added a false $700,000 value to my account. Quicken will not allow me to delete these transactions.

HELP !

Tom Young

I'd say you did something incorrectly here, but I can't say exactly what that error is.

That "$.85" you refer to is certainly not the "price" of each FFIC share, it's the number of shares of OCFC you receive for each share of FFIC tendered.

You should end up with (225.0823 x .85 = 191.319955) shares - or whatever they round it to - of OCFC and get an Added action for each lot of FFIC you owned.

I'd delete every single entry associated with the merger and start again. The OCFC price on the day of the merger was some $18.XX per share. Either FFIC or OCFC will eventually come up with their estimate of the "correct" dollar per share figure to use so you might want to wait until that information is available.

You will eventually end up with 191 shares of OCFC as the fractional share that your should have received will be eliminated with a cash in lieu dollar amount deposited into the Account. You SELL the fractional share using the original cost basis to come up with a gain or loss.