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.
Flushing Financial Corporation (Nasdaq: FFIC) announced the re-election of John R. Buran as chairman of the Federal Home Loan Bank of New York, effective January 1, 2022. Buran has been a board member since 2010 and expressed his commitment to addressing industry challenges and enhancing housing opportunities across the region. Flushing Bank, a subsidiary, offers a range of financial services to various clients in New York and beyond, emphasizing real estate lending and eco-friendly banking options.
Flushing Financial Corporation (NASDAQ: FFIC) announced a public offering of $125 million in subordinated notes due 2031, priced at a fixed rate of 3.125% initially. Starting December 1, 2026, the rate will adjust quarterly based on the three-month SOFR rate plus a spread of 203.5 basis points. The offering is set to close on November 22, 2021. Proceeds will be used for general corporate purposes, including repayment of existing subordinated debt. Piper Sandler & Co. is the lead manager for this offering.
Flushing Financial Corporation (Nasdaq: FFIC) announced that CEO John R. Buran participated in a panel at the 2021 Federal Reserve/CSBS/FDIC Community Banking conference, addressing the future of commercial real estate. Buran highlighted the pandemic's impact on the economy and commercial real estate, noting that Flushing Bank's robust portfolio continues to perform well. He expressed optimism about economic recovery despite varying recovery rates across regions and sectors.
Flushing Bank operates in New York and serves a broad clientele, offering diverse banking services.
Flushing Financial Corporation (Nasdaq: FFIC) announced the induction of Maria A. Grasso, COO of Flushing Bank, into the Long Island Business Hall of Fame on November 9, 2021. CEO John R. Buran praised her significant contributions to the organization since 2006, highlighting her leadership and community involvement. The Long Island Business Hall of Fame recognizes exemplary business leaders, with plaques honoring inductees displayed at Hofstra University.
Flushing Bank offers a wide range of services including loans and deposit products, operating in New York and online through iGObanking® and BankPurely®.
Flushing Financial Corporation (Nasdaq: FFIC) has received a reaffirmed investment grade rating from Kroll Bond Rating Agency (KBRA), maintaining its long-term ratings at BBB/K3 for the Company and BBB+/K2 for the Bank, with a Stable outlook. The ratings reflect sound liquidity, strong asset quality, capital adequacy, and earnings. The management team’s experience in the NYC banking market and a low-risk loan portfolio further support the ratings. The CEO expressed optimism about the company’s conservative underwriting practices and improved net interest margin due to a low interest rate environment.
Flushing Bank reported strong financial results for Q3 2021, with GAAP EPS reaching $0.81, a 62% increase YoY. Core EPS also rose 57.1% YoY to $0.88. The bank achieved a record net interest income of $63.4 million, up 27% YoY, alongside a net interest margin (NIM) of 3.34%. The loan pipeline increased by 35% YoY to a historic $530.7 million. Notably, the company's TCE ratio reached 8.04%, and share repurchase activities resumed with 285,643 shares repurchased at an average price of $22.42.
Flushing Financial Corporation (Nasdaq: FFIC) announced that it will release its third quarter 2021 earnings on October 26, 2021, after market close. A conference call will be held the next day, October 27, at 9:30 AM ET, featuring CEO John R. Buran and CFO Susan K. Cullen to discuss the results and strategy. Flushing Bank serves various sectors including consumers and businesses, offering a range of financial services. The Bank operates in New York and has a robust online banking division including iGObanking.com and BankPurely.
Flushing Financial Corporation (Nasdaq-GS: FFIC) announced a quarterly dividend of $0.21 per common share, to be paid on September 24, 2021, to shareholders of record on September 3, 2021. The decision comes after a strong performance in the second quarter and a positive outlook due to the reopening of the New York City metro area. The Board aims to enhance total shareholder return and will review future dividends quarterly.
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