Flushing Bank Supports Local Communities Through its Continued Participation in the SBA Paycheck Protection Program

Rhea-AI Summary

Flushing Financial Corporation (Nasdaq: FFIC) announced its participation in the Paycheck Protection Program (PPP) to support local small businesses facing economic challenges. The initiative aims to provide essential funding to help over 400 businesses maintain operations as the local economy recovers. The bank will accept loan applications following guidance from the Small Business Administration, with details to be posted on its website. Flushing Bank is known for its comprehensive banking services and its commitment to aiding community recovery.

Positive

• Participation in the Paycheck Protection Program supports local small businesses.
• Already assisted over 400 local businesses with funding.
• Commitment to help stimulate the recovery of the local economy.

Negative

• None.

UNIONDALE, N.Y., Jan. 04, 2021 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq: FFIC), the parent holding company for Flushing Bank (the “Bank”), announced today that it will again participate in the Paycheck Protection Program (PPP) to provide much needed capital to small businesses within the communities it serves.

John R. Buran, President and CEO of Flushing Bank stated, “As a community bank, we recognize the important role that small businesses will play in the recovery of our local economy. Many local businesses have been struggling to continue operations in these very challenging times. The PPP program provides these businesses with access to funding to help them sustain their business as we work to rejuvenate our local economy. We’ve already helped more than 400 local businesses. Our business bankers are committed to helping more businesses quickly and easily apply for and secure their much needed funding.”

Flushing Bank will begin accepting loan applications after the release of regulations and guidance by the Small Business Administration. As information becomes available, it will be posted on the bank’s website at FlushingBank.com/covid19relief.

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 http://www.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 Flushing Financial Corporation's role in the Paycheck Protection Program?

Flushing Financial Corporation is participating in the Paycheck Protection Program to provide capital to small businesses in its communities.

How many businesses has Flushing Bank supported through the PPP?

Flushing Bank has already helped over 400 local businesses access funding through the PPP.

When will Flushing Bank start accepting PPP loan applications?

Flushing Bank will begin accepting loan applications after receiving regulations and guidance from the Small Business Administration.

What services does Flushing Bank offer?

Flushing Bank offers a full range of banking services, including deposits, loans, and cash management for consumers, businesses, and public entities.

Where can I find more information about Flushing Bank's PPP participation?

More information will be posted on Flushing Bank's website as it becomes available.