Flushing Bank Participating in Federal Home Loan Bank of New York’s (FHLBNY) 2023 Small Business Recovery Grant Program

Rhea-AI Summary

Flushing Financial Corporation (FFIC) announced that its subsidiary, Flushing Bank, is participating in the FHLBNY 2023 Small Business Recovery Grant Program. The program aims to aid small businesses and non-profit organizations affected by economic challenges such as the rate environment, inflation, supply-chain constraints, and rising energy costs.

UNIONDALE, N.Y., Nov. 22, 2023 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq: FFIC), the parent holding company for Flushing Bank (the “Bank”), today announced that the Bank is participating in the FHLBNY 2023 Small Business Recovery Grant Program. This program supports qualifying small businesses and non-profit organizations that have faced economic challenges due to the rate environment, inflation, supply-chain constraints, and/or rising energy costs.

John R. Buran stated, “We are pleased to participate in the FHLBNY Small Business Recovery Grant Program once again. As a community bank, it is critical that we support the small businesses that are the engine of our local economy. Small businesses have faced many obstacles over the past year, including rising costs, extended timelines for material, and in some areas a labor shortage. These FHLBNY Small Business Recovery Grants provide the much-needed funding for these businesses to help them through these difficult times.”

About Flushing Financial Corporation

Flushing Financial Corporation (Nasdaq: FFIC) is the holding company for Flushing Bank^®, an FDIC insured, New York State—chartered commercial bank that operates banking offices in Queens, Brooklyn, Manhattan, and on Long Island. The Bank has been building relationships with families, business owners, and communities since 1929. Today, it offers the products, services, and conveniences associated with large commercial banks, including a full complement of deposit, loan, equipment finance, and cash management services. Rewarding customers with personalized attention and bankers who can communicate in the languages prevalent within these multicultural markets is what makes the Bank uniquely different. As an Equal Housing Lender and leader in real estate lending, the Bank’s experienced lending teams create mortgage solutions for real estate owners and property managers both within and outside the New York City metropolitan area. The Bank also fosters relationships with consumers nationwide through its online banking division with the iGObanking^® and BankPurely^® brands.

Additional information on Flushing Bank and Flushing Financial Corporation may be obtained by visiting the Company’s website at FlushingBank.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this Press Release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and in other documents filed by the Company with the Securities and Exchange Commission from time to time. Forward-looking statements may be identified by terms such as “may,” “will”, “should”, “could”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “forecasts”, “goals”, “potential” or “continue” or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. The Company has no obligation to update these forward-looking statements.

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Contact:
Maria A. Grasso
Senior Executive Vice President, Chief Operating Officer
Flushing Bank
718-961-5400

FAQ

What is the FHLBNY 2023 Small Business Recovery Grant Program and how is Flushing Financial Corporation involved?

The FHLBNY 2023 Small Business Recovery Grant Program aims to support small businesses and non-profit organizations facing economic challenges. Flushing Financial Corporation's subsidiary, Flushing Bank, is participating in the program.

What economic challenges does the program address?

The program supports businesses and organizations affected by the rate environment, inflation, supply-chain constraints, and rising energy costs.

Why is Flushing Financial Corporation participating in the program?

As a community bank, Flushing Financial Corporation aims to support small businesses, which are vital to the local economy. The program provides much-needed funding to help these businesses through difficult times.

Who is John R. Buran and what is his statement about the program?

John R. Buran is associated with Flushing Financial Corporation. He expressed the company's pleasure in participating in the program, emphasizing the importance of supporting small businesses that are crucial to the local economy.