Flushing Financial Corp - FFIC STOCK NEWS

Flushing Financial Corporation (Nasdaq: FFIC) announced its participation in the ribbon cutting ceremony for the South Asian Council for Social Services (SACSS) Community Center in Flushing, NY. CEO John R. Buran emphasized the Company’s commitment to community support, particularly for diverse populations. Flushing Bank provided financing for the center, highlighting its role as a community bank dedicated to supporting local organizations that cater to the needs of families and businesses. The Bank offers a wide range of services through its branches in New York City and online.

Flushing Financial Corporation (NASDAQ: FFIC) reported a strong Q2 2021 performance, with GAAP EPS rising 2% to $0.61 and record core EPS at $0.73, up 103% YoY and 35% QoQ. Key highlights include a record net interest income of $61 million, a decrease in non-performing assets by 17% QoQ, and an increase in core deposits by 8%. The Board authorized an additional 1 million shares for repurchase, totaling nearly 1.3 million shares. With robust capital metrics, including a tangible common equity to tangible assets ratio of 7.80%, the company is positioned well for future growth.

Flushing Financial Corporation (Nasdaq: FFIC) updated investors on its Paycheck Protection Program (PPP) activities, reporting $69 million in PPP loans forgiven in Q2 2021. The company recognized net fees of $1.2 million from its PPP portfolio. As of June 30, 2021, FFIC maintains $197 million in PPP loans, with an additional $22 million pending forgiveness. The total originated and acquired PPP loans reached $310 million, with total forgiveness amounting to $113 million. Further details will be available in the earnings release on July 27, 2021, and the conference call on July 28, 2021.

Flushing Financial Corporation (Nasdaq: FFIC) will release its second quarter 2021 earnings on July 27, 2021. Following this, a conference call will take place on July 28, 2021, at 9:30 AM (ET) to discuss the Company's strategies and results. The call can be accessed by dialing 1-877-509-5836 or through a webcast. Flushing Financial is the parent company of Flushing Bank, which offers a range of financial services in New York State, including deposit and loan solutions and operates online banking divisions such as iGObanking.com and BankPurely.

Flushing Financial Corporation (Nasdaq: FFIC) provides a business overview through a webcast presented by CEO John R. Buran on June 18, 2021. This presentation highlights the company's strategies and business model, emphasizing its services in commercial banking and real estate lending across New York. Flushing Bank operates multiple divisions, including a national online banking service. Available resources, such as the presentation video and transcript, can be accessed via the corporate website. The company also notes important forward-looking statements regarding potential risks and uncertainties.

Flushing Financial Corporation (Nasdaq: FFIC) recently held a webinar featuring Frank Korzekwinski, discussing the New York City real estate lending market. The event took place on June 7, 2021, and aimed to provide insights into current lending trends and strategies. This aligns with Flushing Bank's commitment to serving a diverse clientele, offering comprehensive banking services across its branches. The recorded session and transcript are available on the company’s investor relations webpage.

Flushing Financial Corporation (Nasdaq: FFIC) announced a contribution to the Federation of Indian Physicians Association (FIPA) to supply 5,000 oxygen concentrators to India amidst the COVID crisis. CEO John R. Buran highlighted the company's commitment to the South Asian community, recognizing the health impact on employees and customers with ties to India. Dr. Raj Bhayani, President of FIPA, expressed gratitude for the support, joining a coalition of over 25 organizations in aiding COVID efforts. This initiative underscores Flushing Bank’s commitment to community health and wellbeing.