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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 that John R. Buran, President and CEO, and Susan K. Cullen, CFO, will present at the Under the Radar Virtual Bank Conference on September 13, 2022. The 30-minute live presentation begins at 10:00 am EDT and can be accessed via the conference site and the investor relations section of the Company’s website. Flushing Financial, established in 1929, operates through Flushing Bank, providing various banking services across New York and nationwide through its online banking brands.
Flushing Financial Corporation (NASDAQ: FFIC) announced the pricing of a $65 million public offering of fixed-to-floating rate subordinated notes due 2032. The notes will initially carry a 6.000% interest rate, transitioning to a quarterly reset based on the three-month SOFR rate plus 313 basis points starting September 1, 2027. The offering is expected to close on August 24, 2022, pending customary conditions. Proceeds will be used for general corporate purposes, including capital for growth and regulatory needs.
Flushing Financial Corporation (Nasdaq: FFIC) completed a $65.0 million offering of fixed-to-floating rate subordinated notes due 2032 with an initial coupon rate of 6.00%. This marks the company’s second oversubscribed offering within a year, reflecting strong market confidence in its franchise. Piper Sandler & Co. served as Lead Bookrunning Manager for this transaction. The proceeds will support the company's banking operations, which offer various financial services across New York.
Flushing Financial Corporation (Nasdaq: FFIC) announced a quarterly dividend of $0.22 per share, scheduled for payment on September 30, 2022. Shareholders on record by September 2, 2022 will receive this payment, marking the 105th consecutive quarterly dividend. President John R. Buran emphasized the company’s commitment to shareholders and the strength of its low-risk business model, which is designed to withstand potential fluctuations in credit markets.
The Company reported robust second quarter 2022 results with GAAP EPS of $0.81, a 32.8% increase YoY. Core EPS was $0.70, down 4.1% YoY. Loan closings hit a record of $504 million, contributing to a 3.4% YoY growth in net loans. Despite stable net interest margin (NIM) at 3.35%, future rate increases may pressure it. Nonperforming assets rose to $48.9 million, significantly up from $14.1 million in 1Q22. The Company maintained a strong capital position, repurchasing shares and increasing tangible book value per share by 6% YoY.
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Flushing Financial Corporation (Nasdaq: FFIC) will announce its second quarter 2022 earnings on July 26, 2022, after the market closes. The subsequent conference call, led by President John R. Buran and CFO Susan K. Cullen, is scheduled for July 27, 2022, at 9:30 AM ET. This event will cover the Company’s strategy and Q2 results, with access available via phone or webcast. Flushing Financial, parent of Flushing Bank, provides extensive banking services, fostering relationships across diverse communities since 1929.
Flushing Financial Corporation (Nasdaq: FFIC) announces participation in the East Coast IDEAS Investor Conference on June 22, 2022. John R. Buran, President and CEO, alongside CFO Susan K. Cullen, will present at 6:00 am EDT. The presentation will be available on the conference website and accessible through the Company’s investor relations section until June 23rd. The IDEAS Conferences connect quality companies with investment professionals, emphasizing a unique 'sponsored by investors, for investors' model. Flushing Bank, a prominent New York-based commercial bank, has been operational since 1929.
Flushing Financial Corporation (Nasdaq: FFIC) has released its inaugural Environmental, Social, and Governance (ESG) Report, highlighting its commitment to community engagement. CEO John R. Buran emphasized the significance of this report in showcasing the company's efforts in volunteerism, community grants, and financing support for affordable housing and small businesses. Flushing Bank aims to enhance its ESG strategy as new opportunities arise, ultimately delivering value to its multicultural customer base.
Flushing Financial Corporation (Nasdaq: FFIC) announces the opening of a new branch at 85-15 Queens Boulevard, Elmhurst, NY. This expansion aims to strengthen its presence in Queens, focusing on serving the diverse local community. CEO John R. Buran emphasizes the importance of digital services for customer convenience and community engagement through financial support for local organizations. Flushing Bank offers a wide range of banking services and has a legacy of relationship-building since 1929.