Welcome to our dedicated page for Flushing Financial news (Ticker: FFIC), a resource for investors and traders seeking the latest updates and insights on Flushing Financial stock.
Flushing Financial Corporation (Nasdaq: FFIC), the holding company for Flushing Bank, is a prominent player in the banking sector, providing a diverse range of financial services to consumers, businesses, professionals, corporate clients, and public entities. Established in 1929, Flushing Bank operates 19 banking offices strategically located in Queens, Brooklyn, Manhattan, and Nassau County.
Renowned for its real estate lending expertise, Flushing Bank’s experienced lending team crafts tailored mortgage solutions for property owners and managers both within and beyond the New York City metropolitan area. The bank’s product portfolio includes multi-family residential properties, commercial business loans, commercial real estate mortgage loans, construction loans, and small business administration loans.
To enhance customer convenience, Flushing Bank also offers online banking services through its platforms, iGObanking.com® and BankPurely®. These platforms provide competitively priced deposit products to consumers nationwide, reinforcing the bank's commitment to accessible and efficient banking solutions.
Flushing Financial Corporation recently announced its participation in The Microcap Conference, showcasing its robust financial health and strategic initiatives. President and CEO John R. Buran and CFO Susan K. Cullen will represent the company, highlighting its strong credit profile, conservative underwriting, and commitment to maintaining liquidity and capital strength.
The company’s latest financial disclosures reveal a focus on enhancing Net Interest Margin (NIM) and reducing volatility. With a sound capital structure and low levels of nonperforming loans, Flushing Financial Corporation demonstrates a resilient performance, even amidst market fluctuations.
Flushing Financial Corporation’s commitment to personalized banking, underscored by multi-lingual customer service and community-centric operations, positions it as a unique and reliable financial institution. As an FDIC member and Equal Housing Lender, the company continues to build on its legacy of trust and excellence in the financial community.
The Company reported a record fourth quarter in 2021 with GAAP EPS of $0.58, a 427% increase YoY, and Core EPS of $0.67, up 16% YoY. Total net interest income rose to $62.7 million, up 12.5% YoY, despite a marginal QoQ decline of 1.1%. Loans, excluding PPP, increased 3.7% annualized in 4Q21, with loan closings up 49% QoQ. The Company's capital ratios improved, with tangible common equity rising to 8.22%. A one-time increase in employee compensation of $4.3 million was recorded. The company returned 56% of earnings to shareholders through dividends and share repurchases.
Flushing Financial Corporation (Nasdaq: FFIC) announced a partnership with NYDIG to offer bitcoin services to its customers, set to launch in Q1 2022. This initiative reflects the company's commitment to digital transformation and responding to consumer demand for alternative financial services. Customers will have the ability to buy, sell, and hold bitcoin securely. NYDIG's technology complies with the highest industry standards, ensuring regulatory adherence and improved customer banking experiences. This move is expected to enhance Flushing Bank's service offerings and strengthen its market position.
Flushing Financial Corporation (Nasdaq: FFIC) has rescheduled its fourth quarter 2021 earnings conference call to January 28, 2022, at 11:00 AM ET. The call can be accessed via dial-in numbers or through a webcast. Flushing Bank, established in 1929, serves communities across New York with a range of banking services, including deposits, loans, and cash management. The Bank emphasizes personalized customer service and multicultural communication.
Flushing Financial Corporation (Nasdaq: FFIC) announced plans to eliminate overdraft, insufficient funds, and transfer fees on consumer checking accounts for its Flushing Bank, iGObanking®, and BankPurely® customers. CEO John R. Buran emphasized the company's commitment to enhancing customer relationships by providing added value, distinguishing itself from other financial institutions. This move aims to attract and retain customers in a competitive banking landscape.
Flushing Financial Corporation (Nasdaq: FFIC) announced the appointment of Douglas J. McClintock as Senior Executive Vice President and General Counsel, effective January 3, 2022. McClintock brings extensive experience in banking law, having served at Emigrant Bank and advised Flushing Financial on various banking matters and mergers. CEO John R. Buran expressed confidence in McClintock's ability to enhance the company's executive team with his background in regulatory issues, capital raising, and acquisitions.
Flushing Financial Corporation (Nasdaq: FFIC) has announced the release date for its fourth quarter 2021 earnings, set for January 27, 2022. President John R. Buran and CFO Susan K. Cullen will lead a conference call on January 28 at 9:30 AM (ET) to discuss the results and strategic outlook. Interested listeners can join via phone or through a webcast. Flushing Bank, under FFIC, serves a range of clients in New York, offering comprehensive banking services, including real estate lending and online banking options.
Flushing Financial Corporation (Nasdaq: FFIC) partners with The Lonely Entrepreneur to provide minority entrepreneurs with free access to the TLE Learning Community for one year. This initiative aims to support local minority-owned businesses in Elmhurst and Jamaica, enhancing their chances of success in underserved markets. CEO John R. Buran emphasizes the bank's commitment to empowering these entrepreneurs. The program aligns with the Black Entrepreneur Initiative, which seeks to offer resources to 100,000 Black entrepreneurs nationwide.
Flushing Financial Corporation (Nasdaq: FFIC) announced a quarterly dividend of $0.21 per share, payable December 31, 2021 to shareholders of record by December 10, 2021. The decision was based on strong year-to-date financial performance and a solid capital position. The CEO highlighted ongoing franchise momentum, anticipating continued support from the reopening of the New York economy, competitor merger activity, and a record loan pipeline. This reflects confidence in the company’s growth prospects heading into 2022.
Flushing Financial Corporation (Nasdaq: FFIC) has successfully completed a $125 million offering of fixed-to-floating rate subordinated notes due 2031, with an initial coupon rate of 3.125%. The offering was oversubscribed, indicating strong investor interest. Proceeds will primarily be used to repay $90.3 million in outstanding subordinated debt with a higher average coupon rate of 5.41%, enhancing the company's financial flexibility. The strategic move aims to support the company's ongoing growth initiatives.
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