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.
Flushing Financial Corporation (Nasdaq: FFIC) announced a donation of tickets for 25 carloads to the Smith Point Light Show, benefiting local families through Colonial Youth & Family Services. This initiative, reinforced by the company's acquisition of Empire National Bank, aims to support the community and spread holiday cheer during a challenging year. John R. Buran, CEO of Flushing Bank, emphasized the importance of community engagement and the bank's commitment to giving back, marking a notable effort in enhancing its presence in the Suffolk County market.
Flushing Financial Corporation (Nasdaq: FFIC) announced the opening of two new bank locations in Islandia and Shirley, Suffolk County, following its acquisition of Empire National Bank. Ribbon-cutting ceremonies were attended by management and local officials. CEO John R. Buran expressed enthusiasm about expanding their Long Island presence and enhancing banking services for the community. The Bank aims to support local economic recovery and growth. Flushing Financial operates through its subsidiaries, including Flushing Bank and iGObanking.
Flushing Financial Corporation (Nasdaq: FFIC) has opened a new Flushing Bank location at 89-12 Sutphin Boulevard, Jamaica, NY, enhancing its presence in Queens. CEO John R. Buran highlighted the bank's commitment to serving diverse markets with innovative services like Appointment Banking and Video Banker. The bank aims to support local communities through financial assistance and volunteerism. Flushing Bank offers a wide range of banking services, including real estate lending and online banking options.
Flushing Financial Corporation (Nasdaq: FFIC) announced the opening of a new full-service branch at 89-12 Sutphin Boulevard, Jamaica, NY, set to launch later this month. President and CEO John R. Buran highlighted the expansion as part of their Universal Banker model, offering innovative services like Appointment Banking and Video Banker. The bank aims to enhance customer access through digital services and reinforce its commitment to the diverse communities in the New York Metropolitan area.
Flushing Financial Corporation (Nasdaq: FFIC) declared a quarterly dividend of $0.21 per common share, payable on December 23, 2020, to shareholders on record by December 9, 2020. This decision follows the successful acquisition and integration of Empire Bancorp and reflects strong financial performance, ensuring a solid capital position. The Board will continue to review future dividends quarterly to enhance shareholder returns.
Flushing Financial Corporation (Nasdaq: FFIC) has successfully integrated Empire Bancorp, Inc. into its operations. The transition, which involved transferring Empire National Bank’s customers to Flushing Bank's core systems, was completed efficiently within weeks of the acquisition close. CEO John R. Buran commended the staff for their teamwork during challenging times. With the integration finalized, the company aims to leverage operating efficiencies and growth opportunities.
Flushing Financial Corporation (Nasdaq: FFIC) announced that Kroll Bond Rating Agency affirmed an investment grade rating for the Company and its bank. The Company received a rating of BBB/K3, while the Bank was rated BBB+/K2. The ratings reflect the management team's experience, competitive deposit share, and low-risk loan portfolio. The outlook remains Stable. CEO John R. Buran noted improvements in the net interest margin and confidence in future earnings from the Empire acquisition, emphasizing the Company's strong capital position for long-term growth.
Flushing Financial Corporation (Nasdaq: FFIC) will hold virtual meetings with institutional investors on November 10, 2020, at the Piper Sandler East Coast Financial Services Conference and on November 18-19, 2020, at the Southwest IDEAS Conference. The focus will be on the Company's performance and strategic objectives, with a presentation available on their website on November 9, 2020. The Company reported 3Q20 earnings of $0.50 and a 56% increase in core earnings, driven by record net interest income. Flushing has consolidated assets of $7.1 billion as of September 30, 2020.
Flushing Financial Corporation (Nasdaq: FFIC) appointed Douglas C. Manditch, former Chairman and CEO of Empire Bancorp, to its Board of Directors effective November 1, 2020. Chairman Alfred DelliBovi and CEO John R. Buran expressed confidence in Manditch's extensive banking experience, particularly in Long Island, contributing positively to the Bank's growth strategy. Flushing Bank, a leader in real estate lending, provides a range of banking services across New York, including online banking options. The Company emphasizes its commitment to delivering value to shareholders through strategic leadership appointments.
Flushing Financial Corporation (Nasdaq: FFIC) announced the appointment of Thomas M. Buonaiuto to its Executive Team, effective October 31, 2020. This move follows the company's acquisition of Empire Bancorp. CEO John R. Buran expressed optimism about Buonaiuto's extensive experience in banking on Long Island, which is expected to enhance strategic planning and deposit growth opportunities. Flushing Bank offers a range of services, including real estate lending and online banking, serving diverse clients throughout New York.