Flushing Financial Corporation announces developments as the bank holding company for Flushing Bank, a New York State-chartered commercial bank serving Queens, Brooklyn, Manhattan and Long Island. Recurring updates cover net interest income and margin, deposit mix, loan origination and pipeline activity, asset quality, and common stock dividends.
The company’s news also includes branch and community-banking developments, including expansion in Manhattan, and corporate governance or shareholder matters tied to its public-company status. Flushing Bank offers deposit, loan, equipment finance and cash management services, with real estate lending as a central banking activity.
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Flushing Financial Corporation (Nasdaq-GS: FFIC) announced a quarterly dividend of $0.21 per common share, to be paid on September 24, 2021, to shareholders of record on September 3, 2021. The decision comes after a strong performance in the second quarter and a positive outlook due to the reopening of the New York City metro area. The Board aims to enhance total shareholder return and will review future dividends quarterly.
Flushing Financial Corporation (Nasdaq: FFIC) announced the leasing of a new full-service bank location in Elmhurst, NYC, set to open in fall 2021. This initiative aims to enhance their presence in Queens, showcasing the Universal Banker model and innovative Video Banker services. CEO John R. Buran highlighted the bank's commitment to multicultural markets, with staff fluent in over 20 languages. The bank plans to engage with the community through sponsorships and support for local organizations, reinforcing its role as a community bank.
Flushing Financial Corporation (Nasdaq: FFIC) announced its participation in the ribbon cutting ceremony for the South Asian Council for Social Services (SACSS) Community Center in Flushing, NY. CEO John R. Buran emphasized the Company’s commitment to community support, particularly for diverse populations. Flushing Bank provided financing for the center, highlighting its role as a community bank dedicated to supporting local organizations that cater to the needs of families and businesses. The Bank offers a wide range of services through its branches in New York City and online.
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Flushing Financial Corporation (NASDAQ: FFIC) reported a strong Q2 2021 performance, with GAAP EPS rising 2% to $0.61 and record core EPS at $0.73, up 103% YoY and 35% QoQ. Key highlights include a record net interest income of $61 million, a decrease in non-performing assets by 17% QoQ, and an increase in core deposits by 8%. The Board authorized an additional 1 million shares for repurchase, totaling nearly 1.3 million shares. With robust capital metrics, including a tangible common equity to tangible assets ratio of 7.80%, the company is positioned well for future growth.
Flushing Financial Corporation (Nasdaq: FFIC) updated investors on its Paycheck Protection Program (PPP) activities, reporting $69 million in PPP loans forgiven in Q2 2021. The company recognized net fees of $1.2 million from its PPP portfolio. As of June 30, 2021, FFIC maintains $197 million in PPP loans, with an additional $22 million pending forgiveness. The total originated and acquired PPP loans reached $310 million, with total forgiveness amounting to $113 million. Further details will be available in the earnings release on July 27, 2021, and the conference call on July 28, 2021.
Flushing Financial Corporation (Nasdaq: FFIC) will release its second quarter 2021 earnings on July 27, 2021. Following this, a conference call will take place on July 28, 2021, at 9:30 AM (ET) to discuss the Company's strategies and results. The call can be accessed by dialing 1-877-509-5836 or through a webcast. Flushing Financial is the parent company of Flushing Bank, which offers a range of financial services in New York State, including deposit and loan solutions and operates online banking divisions such as iGObanking.com and BankPurely.
Flushing Financial Corporation (Nasdaq: FFIC) provides a business overview through a webcast presented by CEO John R. Buran on June 18, 2021. This presentation highlights the company's strategies and business model, emphasizing its services in commercial banking and real estate lending across New York. Flushing Bank operates multiple divisions, including a national online banking service. Available resources, such as the presentation video and transcript, can be accessed via the corporate website. The company also notes important forward-looking statements regarding potential risks and uncertainties.