Flushing Financial Corporation operates as the bank holding company for Flushing Bank that provides banking products and services primarily to consumers, businesses, and governmental units. It offers various deposit products, including checking and savings accounts, money market accounts, demand accounts, NOW accounts, and certificates of deposit. The company also provides mortgage loans secured by multi-family residential, commercial real estate, one-to-four family mixed-use property, one-to-four family residential property, and commercial business loans; construction loans; small business administration loans and other small business loans; mortgage loan surrogates, such as mortgage-backed securities; and consumer loans, including overdraft lines of credit, as well as the United States government securities, corporate fixed-income securities, and other marketable securities. In addition, it offers banking services to public municipalities comprising counties, cities, towns, villages, school districts, libraries, fire districts, and various courts. As of December 31, 2020, the company operated 25 full-service offices located in the New York City boroughs of Queens, Brooklyn, and Manhattan; and in Nassau County, New York, as well as an Internet branch. Flushing Financial Corporation was founded in 1929 and is based in Uniondale, New York.
IPO Year:
Exchange: NASDAQ
Website: flushingbank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/30/2024 | $15.00 → $16.50 | Overweight → Neutral | Piper Sandler |
| 8/31/2023 | $17.00 | Outperform | Raymond James |
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Piper Sandler downgraded Flushing Fin from Overweight to Neutral and set a new price target of $16.50 from $15.00 previously
Raymond James initiated coverage of Flushing Fin with a rating of Outperform and set a new price target of $17.00
DA Davidson initiated coverage of Flushing Fin with a rating of Neutral
10-Q - FLUSHING FINANCIAL CORP (0000923139) (Filer)
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8-K - FLUSHING FINANCIAL CORP (0000923139) (Filer)
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NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE:SF), announces the upcoming index rebalancing for the fourth quarter of 2024. This quarter, there are constituent changes within four of our indexes: the KBW Nasdaq Capital Markets Index (Index Ticker: KSX, ETF Ticker:N/A), KBW Nasdaq Financial Technology Index (Index Ticker: KFTX, ETF Ticker: FTEK.LN), KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX, ETF Ticker: KBWD), and KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY
"We take pride in what we believe is our low risk credit profile that has performed well over our 95-year history. While there have been increased concerns about commercial real estate loans, especially New York City office and rent regulated multifamily exposure, hallmarks of our risk averse credit culture are demonstrated by only $4,000 of net charge-offs, 24 bps of 30-89 day delinquencies to gross loans, and decreased criticized and classified loans of 23% and flat NPAs during 1Q24. The drivers of this excellent credit performance are centered in our conservative underwriting with 89% of the portfolio secured by real estate, average LTV ratios of less than 36%, multifamily and investor co
UNIONDALE, NY / ACCESSWIRE / February 27, 2024 / Flushing Financial Corporation (the "Company") (NASDAQ:FFIC), the parent holding company for Flushing Bank (the "Bank"), today announced that the Board of Directors (the "Board") declared a quarterly dividend on its common stock of $0.22 per common share, payable on March 22, 2024, to shareholders of record at the close of business on March 11, 2024.John R. Buran, the Company's President and Chief Executive Officer stated: "The Company has a long history of paying dividends to shareholders since our first dividend in 1996. This quarter's dividend marks the 111th consecutive quarterly dividend and highlights our commitment to shareholders. Give
UNIONDALE, NY / ACCESSWIRE / February 27, 2024 / Flushing Financial Corporation (the "Company") (Nasdaq-GS:FFIC), the parent holding company for Flushing Bank (the "Bank"), today announced that the Company has made available through its website, FlushingBank.com, and from the 8-K filed today, a presentation for several upcoming investor events, including attending the 2024 RBC Capital Markets Financial Institutions Conference on March 6, 2024. The presentation materials include further details on our underwriting and management of our multifamily lending portfolio. John R. Buran, the Company's President and Chief Executive Officer and Susan K. Cullen, the Company's Senior Executive Vice Pres
John R. Buran, President and CEO Commentary "Flushing Financial delivered sequential GAAP and Core NIM expansion in 4Q23 of 7 and 18 basis points, respectively, as our team continued to successfully execute against the previously announced action plan amid this challenging environment. Importantly, during the quarter, total average deposits increased 3.1% YoY and 0.9% QoQ, while average noninterest bearing deposits increased $21.6 million, or 2.5% QoQ. Our loan portfolio remains resilient through the credit cycle with 89% secured by real estate, strong debt service coverage ratios, low average loan to values, and controllable repricing risk. Credit quality continues to be a strength for th
UNIONDALE, N.Y., Dec. 14, 2023 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the "Company") (Nasdaq-GS: FFIC), the parent holding company for Flushing Bank (the "Bank"), today announced that it will release its fourth quarter and full year 2023 earnings after the market closes on January 25, 2024. John R. Buran, President and Chief Executive Officer, and Susan K. Cullen, Senior Executive Vice President, Chief Financial Officer and Treasurer, will host the conference call on Friday, January 26, 2024, at 11:00 AM (ET) to discuss the Company's strategy and results for the fourth quarter and full year 2023. Interested parties are invited to listen in by dialing 1-877-509-5836. The confe
UNIONDALE, N.Y., Nov. 29, 2023 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the "Company") (NASDAQ:FFIC), the parent holding company for Flushing Bank (the "Bank"), hosted a ribbon cutting ceremony at its new branch located at 8616 21st Avenue, Brooklyn, NY. New York State Senator Iwen Chu, along with executives from the Chinese American Planning Council, the Chinese American Social Service Center and local community and business leaders attended the event. At the ceremony, the Bank's President and CEO, John R. Buran, presented a check to the Chinese American Planning Council for a series of special events that support the local community. John R. Buran stated, "We are excited to
UNIONDALE, N.Y., Nov. 22, 2023 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the "Company") (NASDAQ:FFIC), the parent holding company for Flushing Bank (the "Bank"), today announced that the Bank is participating in the FHLBNY 2023 Small Business Recovery Grant Program. This program supports qualifying small businesses and non-profit organizations that have faced economic challenges due to the rate environment, inflation, supply-chain constraints, and/or rising energy costs. John R. Buran stated, "We are pleased to participate in the FHLBNY Small Business Recovery Grant Program once again. As a community bank, it is critical that we support the small businesses that are the engine o
UNIONDALE, N.Y., Nov. 21, 2023 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the "Company") (Nasdaq-GS: FFIC), the parent holding company for Flushing Bank (the "Bank"), today announced that the Board of Directors (the "Board") declared a quarterly dividend on its common stock of $0.22 per common share, payable on December 22, 2023, to shareholders of record at the close of business on December 8, 2023. John R. Buran, the Company's President and Chief Executive Officer stated: "This quarter's dividend marks the 110th consecutive quarterly dividend and highlights the Company's commitment to returning capital to shareholders. We continue to execute on our action plan to enhance the r
John R. Buran, President and CEO Commentary "We delivered sequential EPS and GAAP NIM expansion through the continued execution of our action plan to drive long-term profitability while advancing our near-term areas of focus amid persisting challenges in the operating environment. In 3Q23, we made significant progress on delivering against all pillars of our action plan, including: 1) reduced interest rate risk and moved closer to our goal of interest rate neutrality, including the addition of $100 million of interest rate hedges; 2) increased yields on new loans 288 bps YoY and 34 bps QoQ, with an emphasis on floating rate loans and back-to-back swaps; 3) increased noninterest bearing d
NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE:SF), announces the upcoming index rebalancing for the fourth quarter of 2024. This quarter, there are constituent changes within four of our indexes: the KBW Nasdaq Capital Markets Index (Index Ticker: KSX, ETF Ticker:N/A), KBW Nasdaq Financial Technology Index (Index Ticker: KFTX, ETF Ticker: FTEK.LN), KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX, ETF Ticker: KBWD), and KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY
"We take pride in what we believe is our low risk credit profile that has performed well over our 95-year history. While there have been increased concerns about commercial real estate loans, especially New York City office and rent regulated multifamily exposure, hallmarks of our risk averse credit culture are demonstrated by only $4,000 of net charge-offs, 24 bps of 30-89 day delinquencies to gross loans, and decreased criticized and classified loans of 23% and flat NPAs during 1Q24. The drivers of this excellent credit performance are centered in our conservative underwriting with 89% of the portfolio secured by real estate, average LTV ratios of less than 36%, multifamily and investor co
UNIONDALE, NY / ACCESSWIRE / February 27, 2024 / Flushing Financial Corporation (the "Company") (NASDAQ:FFIC), the parent holding company for Flushing Bank (the "Bank"), today announced that the Board of Directors (the "Board") declared a quarterly dividend on its common stock of $0.22 per common share, payable on March 22, 2024, to shareholders of record at the close of business on March 11, 2024.John R. Buran, the Company's President and Chief Executive Officer stated: "The Company has a long history of paying dividends to shareholders since our first dividend in 1996. This quarter's dividend marks the 111th consecutive quarterly dividend and highlights our commitment to shareholders. Give
John R. Buran, President and CEO Commentary "Flushing Financial delivered sequential GAAP and Core NIM expansion in 4Q23 of 7 and 18 basis points, respectively, as our team continued to successfully execute against the previously announced action plan amid this challenging environment. Importantly, during the quarter, total average deposits increased 3.1% YoY and 0.9% QoQ, while average noninterest bearing deposits increased $21.6 million, or 2.5% QoQ. Our loan portfolio remains resilient through the credit cycle with 89% secured by real estate, strong debt service coverage ratios, low average loan to values, and controllable repricing risk. Credit quality continues to be a strength for th
UNIONDALE, N.Y., Dec. 14, 2023 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the "Company") (Nasdaq-GS: FFIC), the parent holding company for Flushing Bank (the "Bank"), today announced that it will release its fourth quarter and full year 2023 earnings after the market closes on January 25, 2024. John R. Buran, President and Chief Executive Officer, and Susan K. Cullen, Senior Executive Vice President, Chief Financial Officer and Treasurer, will host the conference call on Friday, January 26, 2024, at 11:00 AM (ET) to discuss the Company's strategy and results for the fourth quarter and full year 2023. Interested parties are invited to listen in by dialing 1-877-509-5836. The confe
UNIONDALE, N.Y., Nov. 21, 2023 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the "Company") (Nasdaq-GS: FFIC), the parent holding company for Flushing Bank (the "Bank"), today announced that the Board of Directors (the "Board") declared a quarterly dividend on its common stock of $0.22 per common share, payable on December 22, 2023, to shareholders of record at the close of business on December 8, 2023. John R. Buran, the Company's President and Chief Executive Officer stated: "This quarter's dividend marks the 110th consecutive quarterly dividend and highlights the Company's commitment to returning capital to shareholders. We continue to execute on our action plan to enhance the r
John R. Buran, President and CEO Commentary "We delivered sequential EPS and GAAP NIM expansion through the continued execution of our action plan to drive long-term profitability while advancing our near-term areas of focus amid persisting challenges in the operating environment. In 3Q23, we made significant progress on delivering against all pillars of our action plan, including: 1) reduced interest rate risk and moved closer to our goal of interest rate neutrality, including the addition of $100 million of interest rate hedges; 2) increased yields on new loans 288 bps YoY and 34 bps QoQ, with an emphasis on floating rate loans and back-to-back swaps; 3) increased noninterest bearing d
UNIONDALE, N.Y., Sept. 15, 2023 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the "Company") (Nasdaq-GS: FFIC), the parent holding company for Flushing Bank (the "Bank"), today announced that it will release its third quarter 2023 earnings after the market closes on October 31, 2023. John R. Buran, President and Chief Executive Officer, and Susan K. Cullen, Senior Executive Vice President, Chief Financial Officer and Treasurer, will host the conference call on Wednesday, November 1, 2023, at 9:30 AM (ET) to discuss the Company's strategy and results for the third quarter of 2023. Interested parties are invited to listen in by dialing 1-877-509-5836. The conference call will be simul
UNIONDALE, N.Y., Aug. 15, 2023 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the "Company") (Nasdaq-GS: FFIC), the parent holding company for Flushing Bank (the "Bank"), today announced that the Board of Directors (the "Board") declared a quarterly dividend on its common stock of $0.22 per common share, payable on September 29, 2023, to shareholders of record at the close of business on September 8, 2023. John R. Buran, the Company's President and Chief Executive Officer, stated: "This quarter's dividend marks the 109th consecutive quarterly dividend and highlights the Company's commitment to returning capital to shareholders. The execution of our six step action plan to enhance the
John R. Buran, President and CEO Commentary "We delivered sequential improvements in key metrics in the second quarter amid continuing uncertainty in the operating environment. We experienced the lowest level of NIM compression of the past four quarters and achieved QoQ improvements in the loan pipeline and asset quality. Further, we increased deposit balances compared to past seasonal trends. As we continue to execute on the action plan announced last quarter, we are pleased with the progress we are making to enhance the resilience of our business model and strengthen performance: 1) continued to move more towards interest rate risk neutral with the addition of over $400 million of interest