"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

UNIONDALE, N.Y., Sept. 29, 2023 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the "Company") (NASDAQ:FFIC), the parent holding company for Flushing Bank (the "Bank"), today announced it has opened a new location at 8616 21st Avenue, Brooklyn, NY. John R. Buran stated, "We are excited to expand our presence in Brooklyn with this new full-service location to serve the needs of Bensonhurst, a vibrant and diverse community. Our branch team reflects the ethnicity of the area and will provide in-language support to customers, further enhancing our strong connection with the Asian community. We look forward to introducing ourselves to the residents and businesses within this market and dev

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Regional bank stocks, as monitored through the SPDR S&P Regional Banking ETF (NYSE:KRE), continue to trade about 13% lower than they were prior to the collapse of Silicon Valley Bank in March 2023, indicating that investor sentiment has yet to fully regain trust in the industry following last year’s sharp drop. The first-quarter earnings season has been notably positive for the Financials sector, which showed the largest positive difference between actual revenues and estimated revenues, according to FactSet earnings insights. Chart: Regional Bank Industry Trades 13% Lower Its Pre-SVB Levels A Resilient Quarter For Community Banks “The banking industry continued to show resil

Keefe, Bruyette & Woods analyst Christopher O'Connell maintains Flushing Financial (NASDAQ:FFIC) with a Market Perform and lowers the price target from $14 to $13.

Flushing Financial (NASDAQ:FFIC) reported quarterly earnings of $0.14 per share which met the analyst consensus estimate. This is a 133.33 percent increase over earnings of $0.06 per share from the same period last year. The company reported quarterly sales of $45.481 million which missed the analyst consensus estimate of $48.286 million by 5.81 percent. This is a 12.82 percent decrease over sales of $52.170 million the same period last year.

Companies Reporting Before The Bell • RTX (NYSE:RTX) is expected to report quarterly earnings at $1.23 per share on revenue of $18.41 billion. • MSCI (NYSE:MSCI) is expected to report quarterly earnings at $3.45 per share on revenue of $684.13 million. • Quest Diagnostics (NYSE:DGX) is expected to report quarterly earnings at $1.85 per share on revenue of $2.29 billion. • Community Bank System (NYSE:CBU) is expected to report quarterly earnings at $0.78 per share on revenue of $176.83 million. • Herc Hldgs (NYSE:HRI) is estimated to report quarterly earnings at $2.15 per share on revenue of $782.85 million. • JetBlue Airways (NASDAQ:JBLU) is expected to report quarterly loss at $0.52 p

An inflation surprise greeted investors on Wednesday, sparking significant apprehension about the future of interest rates. The discussion regarding Fed rate cuts seems to be postponed for the time being following a surge in the inflation rate to 3.5% in March 2024, surpassing estimates of a 3.4% increase. What’s even more concerning is that core inflation, which excludes volatile food and energy prices, remained steady at 3.8%, defying expectations of a decline to 3.7%. Many economists cautioned Wednesday there is no chance the Fed will reduce interest rates in June, with the likelihood of higher-for-longer interest rates gaining pace. Money markets are pricing in a 44-basis-p

A fresh unexpected surge in inflation blindsided markets, shattering hopes for imminent Fed rate cuts and sending stocks down across the board. In March 2024, the annual Consumer Price Index (CPI) inflation rate surged to 3.5%, up from February’s 3.2%, surpassing expectations set at 3.4%. Adding to concerns, core inflation, which excludes energy and food, also exceeded expectations, reaching 3.8% compared to the anticipated 3.7%, dismissing any justifications solely attributed to higher gasoline price pressures. Consequently, investors sharply revised down their expectations for Fed rate cuts, now anticipating the commencement of any easing policy no earlier than September, with less

Keefe, Bruyette & Woods analyst Christopher O'Connell maintains Flushing Financial (NASDAQ:FFIC) with a Market Perform and lowers the price target from $15.5 to $14.

DA Davidson analyst Manuel Navas maintains Flushing Financial (NASDAQ:FFIC) with a Neutral and lowers the price target from $17 to $13.5.

New York Community Bancorp (NYSE:NYCB) finds itself in the eye of the storm once again. On Thursday, the bank publicly acknowledged a “material weakness” in its internal controls concerning loan review processes. This admission was accompanied by a major leadership change at the top, highlighting a period of upheaval for the company. The bank cited “ineffective oversight, risk assessment, and monitoring activities” as the root of the issues and promised to outline a remediation plan in its forthcoming annual report to the U.S. Securities and Exchange Commission within the next 15 days. Thomas R. Cangemi, the former CEO, stepped down immediately after 27 years at the helm of the ban