Flushing Bank Receives 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

Rhea-AI Summary

Flushing Financial Corporation (Nasdaq: FFIC) announced that Flushing Bank has participated in the FHLBNY Small Business Recovery Grant Program, aimed at supporting local businesses and non-profits affected by the COVID-19 crisis. The Bank will distribute grant funds to alleviate financial hardships faced by these organizations, emphasizing its commitment to community support and economic recovery. President John R. Buran highlighted the role of small businesses and non-profits in revitalizing local economies as essential to recovery efforts.

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• Participation in the FHLBNY Small Business Recovery Grant Program to support local businesses.
• Commitment to community health and economic recovery through grant distribution.

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• None.

UNIONDALE, N.Y., June 22, 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 received funds 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 has begun to disburse the grant money to local small businesses and non-profit organizations in their market area.

“Our participation in this grant program allows us to provide much needed support to small businesses and non-profit organizations, both customers and non-customers, in the communities we serve.” stated John R. Buran, President and CEO. “Small businesses will be the engine for economic recovery in our local communities and we must provide assistance to get them back on their feet. Non-profit organizations are playing an important role in providing support to the individuals and families struggling in our communities. As a community bank, we have a responsibility to facilitate the distribution of available funds to support members of our communities affected by the COVID-19 crisis.” Buran said.

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 FHLBNY Small Business Recovery Grant Program?

The FHLBNY Small Business Recovery Grant Program provides financial support to small businesses and non-profits affected by decreased revenue due to the COVID-19 crisis.

How will Flushing Bank use the grant funds?

Flushing Bank plans to disburse the grant funds to local small businesses and non-profit organizations to help alleviate financial hardships resulting from the COVID-19 pandemic.

What is the significance of Flushing Financial Corporation's involvement in the grant program?

Flushing Financial Corporation's involvement signifies its commitment to supporting community businesses and aiding economic recovery during challenging times.

When was the announcement made regarding the grant program participation?

The announcement was made on June 22, 2020.

What is the stock symbol for Flushing Financial Corporation?

The stock symbol for Flushing Financial Corporation is FFIC.