Flushing Financial

Flushing Financial Corp. operates as a bank holding company, which provides banking and financial services. Its principal business is attracting retail deposits from the general public and investing those deposits together with funds generated from ongoing operations and borrowings, primarily in originations and purchases of multi-family residential properties, commercial business loans, commercial real estate mortgage loans, construction loans, small business administration loans and other small business loans, mortgage loans, U.S. government securities, corporate fixed-income securities and other marketable securities. The company was founded on May 9, 1994 and is headquartered in Uniondale, NY.

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Flushing Financial reports robust earnings amidst Fed challenges and growth opportunities

Flushing Financial's Q4 2022 earnings call highlighted strong financial performance, strategic focus on credit quality and liquidity, and challenges from Fed actions impacting margins. The company's emphasis on digital growth, new branch leases, and maintaining investment-grade ratings underscore its resilience and long-term vision.

Flushing Financial faces NIM challenges but focuses on growth strategies

Flushing Financial's Q1 2023 performance reflects challenges in NIM compression and credit charge-offs, with a focus on risk-adjusted returns and expense control.
Despite industry headwinds, the company maintains strengths in liquidity, credit quality, and digital innovation, positioning for long-term success.
Navigating challenges in loan growth and expenses, Flushing Financial seeks opportunities in digital engagement, client expansion, and strategic financial management.

Flushing Financial reports steady Q2 earnings amidst economic caution

Flushing Financial (FFIC) demonstrated steady earnings and growth in deposits, with a focus on risk-adjusted returns and expense controls.
The company's conservative underwriting approach led to a decrease in non-performing assets, despite modest loan growth.
While facing margin compression concerns, FFIC remains cautious about the economic environment but continues dividend payments.
Analysts' questions highlighted areas of scrutiny and potential challenges, but the company's actions show resilience and growth potential.

Flushing Financial reports stable Q3 earnings amidst market uncertainties

Flushing Financial (FFIC) demonstrates solid financial performance with a focus on risk management, liquidity, and customer engagement.
The company's strategic actions and strong real estate portfolio underscore resilience and stability in a challenging market environment.
While facing uncertainties, Flushing Financial aims to maintain profitability, navigate interest rate dynamics, and capitalize on growth opportunities in Asian markets.

Flushing Financial reports solid Q4 earnings amidst NIM opportunities

Flushing Financial's Q4 2023 performance showcased solid earnings and prudent financial management strategies. The company's strengths in low-risk assets and liquidity position provide a stable foundation for growth.
While facing challenges such as NIM pressure and margin compression, Flushing Financial has opportunities to deepen customer relationships, enhance digital banking offerings, and navigate interest rate dynamics effectively.
Overall, Flushing Financial's focus on stability, risk management, and customer-centric initiatives positions it well to address challenges and capitalize on growth opportunities in the evolving financial landscape.

Flushing Financial reports Q1 resilience amidst challenges and growth opportunities

Flushing Financial navigated challenges in Q1 2024 with resilience, focusing on maintaining credit quality, improving capital position, and enhancing profitability. Despite competitive pressures and weak loan demand, the company remains optimistic about NIM expansion, stable loan balances, and controlled expense growth for the year.

Flushing Financial reports solid Q2 earnings, eyes NIM improvement

Flushing Financial's Q2 performance reflects a focus on growth, risk management, and expense control. Despite challenges in NIM compression and regulatory discussions, the company is well-positioned to capitalize on opportunities for improvement and adapt to market changes.

Flushing Financial excels in Q3, eyes Asian market growth

Flushing Financial delivered strong financial performance with notable improvements in EPS and net interest margin.
While facing expense growth challenges, the company's solid credit metrics and deposit growth position it well for the future.
Strategic focus on Asian markets, community involvement, and capital stability offer avenues for growth and customer loyalty.

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Empire Special Shareholder Meeting Date and Election Deadline Established Empire Special Shareholder Meeting Date and Election Deadline Established

Flushing Financial Corporation Announces Receipt of Remaining Regulatory Approvals for Acquisition of Empire Bancorp, Inc.

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UNIONDALE and ISLANDIA, N.Y., Aug.  17, 2020  (GLOBE NEWSWIRE) -- Today, John R. Buran, President and Chief Executive Officer of Flushing Financial Corporation (“Flushing”) (Nasdaq-GS:FFIC) announced, “I am pleased that our respective Boards have agreed to extend the timeframe for Flushing to complete the acquisition of Empire Bancorp Inc. (“Empire”) (OTC:EMPK), and we are now anticipating a fourth quarter close.

Flushing Financial Corporation and Empire Bancorp Inc. Agree to Complete Their Merger Under Extended Time Frame

UNIONDALE and ISLANDIA, N.Y., Aug.  03, 2020  (GLOBE NEWSWIRE) -- Flushing Financial Corporation (“Flushing”) (Nasdaq‑GS: FFIC), parent company of Flushing Bank, and Empire Bancorp, Inc. (“Empire”) (OTC: EMPK), announced today that they have each advised the other they will not exercise their respective rights to terminate the Agreement and Plan of Merger, dated October 24, 2019, as amended, as would otherwise be permitted after July 31st by the terms of the merger agreement.  Flushing and Empire are engaged in discussions for a longer term extension of time to complete the merger. 

Flushing Financial Corporation and Empire Bancorp, Inc. Announce Continued Merger Discussions

Flushing Financial's (FFIC) CEO John Buran on Q2 2020 Results - Earnings Call Transcript

Flushing Financial Corporation Reports Record Net Interest Income; Net Interest Margin Expansion Driven by Ability to Significantly Reduce Funding Costs

UNIONDALE, N.Y., July  20, 2020  (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq: FFIC), the parent holding company for Flushing Bank (the “Bank”), announced today that it has begun accepting applications for the Main Street Lending Program made available to businesses through the Federal Reserve.

Flushing Bank Accepting Applications for the Main Street Lending Program

UNIONDALE, N.Y., July  15, 2020  (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq: FFIC), the parent holding company for Flushing Bank (the “Bank”), announced today that the Bank has been approved for a second round of funding from the FHLBNY Small Business Recovery Grant Program. These funds are intended to support the financial security and health of workers employed by organizations that have suffered a decrease in revenue as a result of the ongoing COVID-19 crisis. The Bank will disburse the grant money to local small businesses and non-profit organizations in their market area.

Flushing Bank Receives Approval for Second Round of Grant Money from Federal Home Loan Bank of New York’s (FHLBNY) Small Business Recovery Grant Program to Assist Local Small Businesses and Non-Profit Organizations

UNIONDALE, N.Y., June  23, 2020  (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq-GS: FFIC), the parent holding company for Flushing Bank (the “Bank”), today announced that it will release its second quarter 2020 earnings after the market closes on Tuesday, July 21, 2020.

Flushing Financial Corporation to Host Second Quarter 2020 Earnings Call

UNIONDALE, N.Y., June  22, 2020  (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq: FFIC), the parent holding company for Flushing Bank (the “Bank”), announced today that the Bank has received funds from the FHLBNY Small Business Recovery Grant Program. These funds are intended to support the financial security and health of workers employed by organizations that have suffered a decrease in revenue as a result of the ongoing COVID-19 crisis. The Bank has begun to disburse the grant money to local small businesses and non-profit organizations in their market area.

Flushing Bank Receives Grant Money from Federal Home Loan Bank of New York’s (FHLBNY) Small Business Recovery Grant Program to Assist Local Small Businesses and Non-Profit Organizations

Is Flushing Financial (FFIC) a great pick from the value investor's perspective right now? Read on to know more.

Should Value Investors Pick Flushing Financial (FFIC) Stock?

UNIONDALE, N.Y., May  14, 2020  (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq: FFIC), the parent holding company for Flushing Bank (the “Bank”), announced today that its application for participation in the FHLBNY Small Business Recovery Grant Program has been approved.

Flushing Bank Receives Approval to Participate in the Federal Home Loan Bank of New York’s (FHLBNY) Small Business Recovery Grant Program

UNIONDALE, N.Y., May  11, 2020  (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq: FFIC), the parent holding company for Flushing Bank (the “Bank”), announced today that the Company will hold its 2020 Annual Shareholder Meeting (the “2020 Meeting”) in a virtual-only format due to public health concerns related to the COVID-19 pandemic and to protect the health and well-being of its shareholders, directors, employees, and the public. As previously announced, the 2020 Meeting will be held on May 26, 2020, at 1:00 p.m. ET.

Flushing Financial Announces Virtual 2020 Shareholder Meeting

Flushing Financial Corporation (FFIC) CEO John Buran on Q1 2020 Results - Earnings Call Transcript

UNIONDALE, N.Y., April  09, 2020  (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq: FFIC), the parent holding company for Flushing Bank (the “Bank”), announced today that it has begun accepting applications for the Payroll Protection Program (PPP) made available to small businesses through the CARES Act. 

Flushing Bank Accepting Applications for the Payroll Protection Program

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UNIONDALE, N.Y., April  03, 2020  (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq: FFIC), the parent holding company for Flushing Bank (the “Bank”), announced today that it has established a temporary relief assistance program for its residential mortgage customers. 

Flushing Bank Announces Temporary Relief Assistance Program for Residential Mortgage Customers

Flushing Financial (FFIC) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

What Makes Flushing Financial (FFIC) a New Strong Buy Stock

UNIONDALE, N.Y. and ISLANDIA, N.Y., March  23, 2020  (GLOBE NEWSWIRE) -- Flushing Financial Corporation (Nasdaq-GS: FFIC) (“Flushing”), parent company of Flushing Bank, and Empire Bancorp, Inc. (OTCQX: EMPK) (“Empire”), parent company of Empire National Bank, announced today that the closing of the previously announced merger of Empire with and into Flushing (the “merger”) will be delayed due to the severe instability and volatility in the U.S. financial and stock markets. In addition to the volatile markets, the delay is predicated upon the unprecedented operational challenges facing both Flushing and Empire, as well as the entire financial services industry, due to the novel coronavirus (COVID-19) outbreak. Flushing and Empire believe that attempting to close the transaction during this time of severe economic uncertainty and wild volatility in stock prices could adversely impact the shareholders of both institutions and would severely strain the ability of both banks to focus on the needs of their customers. The COVID-19 outbreak, and the necessary government and social reaction intended to minimize its impact, have created significant disruption of business, commerce, travel, and normal daily activities in the New York metropolitan area and throughout the United States, adversely affecting the respective customers, employees and shareholders of both Flushing and Empire. Although the long- and short-term consequences of this outbreak continue to rapidly evolve, Flushing and Empire now anticipate that closing of the merger will be more likely to occur at the end of the 2nd quarter or early in the 3rd quarter of 2020, though closing may occur earlier should financial markets and business conditions stabilize sooner.

Flushing and Empire Announce Delay of Closing of Merger; Merger Consideration Election Process Extended

UNIONDALE, N.Y., March  20, 2020  (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq: FFIC), the parent holding company for Flushing Bank (the “Bank”), announced today its plan to support its customers impacted by the spread of the coronavirus. The initiatives are designed to relieve some of the pressures created by recent events on customers who may be affected by loss of work or loss of business revenue.   

Flushing Bank Announces Plan to Support Customers, Businesses, and Communities Impacted by The Coronavirus

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UNIONDALE, N.Y., Feb.  26, 2020  (GLOBE NEWSWIRE) -- Flushing Financial Corporation (Nasdaq: FFIC) (“Flushing”), parent company of Flushing Bank (“Flushing Bank”), announced that it has received all the requisite bank regulatory approvals and waivers in connection with the transactions providing for the acquisition and merger of Empire Bancorp, Inc. (OTC: EMPK) (“Empire”) with Flushing and the related merger of Empire National Bank (“Empire Bank”), a wholly-owned subsidiary of Empire, with and into Flushing’s wholly-owned bank subsidiary, Flushing Bank, with Flushing Bank as the surviving bank (the “Transaction”). The Transaction is expected to close early in the second quarter of 2020, subject to the satisfaction of customary closing conditions, including the approval of the merger by the Empire shareholders at a special meeting of shareholders scheduled to be held on February 27, 2020.

Flushing Financial Corporation Announces Receipt of Regulatory Approvals for Pending Acquisition of Empire Bancorp, Inc.

UNIONDALE, N.Y., Feb.  25, 2020  (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq-GS: FFIC), the parent holding company for Flushing Bank (the “Bank”), today announced that the Board of Directors (the “Board”) declared a quarterly dividend on its common stock of $0.21 per common share, payable on March 27, 2020 to shareholders of record at the close of business on March 13, 2020.

Flushing Financial Corporation  Declares Its Quarterly Dividend of $0.21 per Share

UNIONDALE, N.Y, Feb.  04, 2020  (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq: FFIC), the parent holding company for Flushing Bank (the “Bank”), announced today that iGObanking.com® has been recognized as a top bank in the most recent America’s Best Rates survey from  MoneyRates.com , a QuinStreet banking site. iGObanking.com earned the award for offering high savings account rates on average for the fourth quarter of 2019. 

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