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
Flushing Financial Corporation (Nasdaq: FFIC) announced its Bank has secured a second round of funding from the FHLBNY Small Business Recovery Grant Program, aimed at aiding local small businesses and non-profits impacted by COVID-19. The funds will support the financial stability of affected workers. CEO John R. Buran emphasized the bank's commitment to community recovery during these challenging times. With a focus on economic support, this initiative underscores the bank's role in assisting struggling organizations in their market area.
- Secured second round of funding from FHLBNY Small Business Recovery Grant Program.
- Funds will aid local small businesses and non-profits affected by COVID-19.
- None.
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.
John R. Buran, President and CEO, stated, “As a community bank, we recognize our responsibility to help small businesses and non-profit organizations who employ and support the individuals and families struggling in our communities. Each will play a critical role in the economic recovery of our local communities. Our continued participation in this grant program allows us to facilitate the distribution of available funds to these organizations at a time when they need it most.”
About Flushing Financial Corporation
Flushing Financial Corporation (Nasdaq: FFIC) is the holding company for Flushing Bank®, a New York State—chartered commercial bank insured by the Federal Deposit Insurance Corporation. The Bank serves consumers, businesses, professionals, corporate clients, and public entities by offering a full complement of deposit, loan, equipment finance, and cash management services through its banking offices located in Queens, Brooklyn, Manhattan, and on Long Island. As a 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. Flushing Bank is an Equal Housing Lender. The Bank also operates an online banking division consisting of iGObanking®, which offers competitively priced deposit products to consumers nationwide, and BankPurely®, an eco-friendly, healthier lifestyle community brand.
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, 2019 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.
Contact:
Maria A. Grasso
Senior Executive Vice President, Chief Operating Officer
Flushing Bank
718-961-5400
FAQ
What is the purpose of the FHLBNY Small Business Recovery Grant Program for FFIC?
When did Flushing Financial Corporation announce the funding approval?
How will the funds from the FHLBNY Grant Program be distributed?
Who commented on the importance of the funding for the community?
