Flushing Financial Corp - FFIC STOCK NEWS

Flushing Financial Corporation (Nasdaq: FFIC) announces its participation in the FHLBNY Small Business Recovery Grant Program, aimed at supporting workers impacted by COVID-19 revenue declines. CEO John R. Buran emphasized the bank's commitment to helping local small businesses and non-profits recover financially. This initiative highlights the bank's role in community economic recovery. Flushing Bank offers a comprehensive range of services to various clients, including real estate lending and online banking options.

Flushing Financial Corporation reported a 1Q21 GAAP EPS of $0.60 and a core EPS of $0.54, marking a 184% increase year-over-year. The company achieved a record net interest income of $60.9 million, up 49.2% year-over-year. Notably, the net interest margin rose to 3.18%, while average loans increased by 5.1% quarter-over-quarter. The provision for credit losses was $2.8 million, with non-performing assets remaining flat at $21.2 million. Credit quality remains stable with a loan-to-value ratio of 38%.

Flushing Financial Corporation (Nasdaq: FFIC) will announce its first quarter 2021 earnings on April 27, 2021, after market close. A conference call to discuss the results will be held on April 28, 2021, at 9:30 AM ET, hosted by President John R. Buran and CFO Susan K. Cullen. Interested listeners can join via telephone or through a webcast. The Company operates Flushing Bank, which provides a range of banking services and is recognized for its real estate lending capabilities. Flushing Bank also offers online banking through iGObanking.com and BankPurely.

Flushing Financial Corporation (Nasdaq: FFIC) announced a quarterly cash dividend of $0.21 per common share on February 23, 2021, payable on March 26, 2021, to shareholders of record by March 12, 2021. The company's President, John R. Buran, attributed the dividend declaration to strong execution of strategic priorities and a solid financial position. Flushing Bank, as the parent bank, offers various financial services across New York City and operates online banking divisions aimed at diverse consumer needs.

Flushing Financial Corporation (NASDAQ: FFIC) announced its Q4 2020 financial results, reporting a GAAP diluted EPS of $0.11, down from $0.50 in Q3 2020. Core diluted EPS rose to $0.58, a 42% increase YoY. Record net interest income of $55.7 million marked an 11.6% QoQ increase, with an NIM of 3.08%, reflecting improved funding mix. The loan pipeline grew to $354.6 million, while loans in forbearance dropped significantly. Credit losses provision was $3.9 million. The company remains well-capitalized, with a tangible common equity ratio of 7.52%.

Flushing Financial Corporation (Nasdaq: FFIC) announced that it will release its fourth quarter 2020 earnings on January 28, 2021, after market close. A conference call will be held on January 29, 2021, at 9:30 AM ET, led by CEO John R. Buran and CFO Susan K. Cullen to discuss the company's strategy and results. Interested listeners can join via phone or webcast, with replay options available. As the parent company of Flushing Bank, FFIC provides a range of banking services and is well-regarded in real estate lending.

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.

Flushing Financial Corporation (Nasdaq: FFIC) announced a donation of tickets for 25 carloads to the Smith Point Light Show, benefiting local families through Colonial Youth & Family Services. This initiative, reinforced by the company's acquisition of Empire National Bank, aims to support the community and spread holiday cheer during a challenging year. John R. Buran, CEO of Flushing Bank, emphasized the importance of community engagement and the bank's commitment to giving back, marking a notable effort in enhancing its presence in the Suffolk County market.

Flushing Financial Corporation (Nasdaq: FFIC) announced the opening of two new bank locations in Islandia and Shirley, Suffolk County, following its acquisition of Empire National Bank. Ribbon-cutting ceremonies were attended by management and local officials. CEO John R. Buran expressed enthusiasm about expanding their Long Island presence and enhancing banking services for the community. The Bank aims to support local economic recovery and growth. Flushing Financial operates through its subsidiaries, including Flushing Bank and iGObanking.