UNIONDALE, N.Y., Aug. 24, 2022 (GLOBE NEWSWIRE) — Flushing Financial Corporation (the “Company”) (Nasdaq-GS: FFIC), the mum or dad holding firm for Flushing Bank (the “Bank”), introduced at present that it has accomplished a $65.0 million providing of its fixed-to-floating fee subordinated notes due 2032 (the “Subordinated Notes”). The Subordinated Notes may have an preliminary coupon fee of 6.000%. Piper Sandler & Co. acted as Lead Book-Running Manager and Keefe, Bruyette & Woods, A Stifel Company, acted as Joint Book-Running Manager. Holland & Knight LLP acted as authorized counsel to the Company and Paul Hastings LLP acted as authorized counsel to the underwriters.
John R. Buran, President and Chief Executive Officer, acknowledged, “This transaction represents the second oversubscribed offering in less than a year indicating the market’s confidence in the strength of our franchise. We are very pleased with the completion of the note offering.”
Flushing Financial Corporation (Nasdaq-GS: FFIC) is the holding firm for Flushing Bank®, an FDIC insured, New York State—chartered industrial financial institution that operates banking workplaces in Queens, Brooklyn, Manhattan, and on Long Island. The Bank has been constructing relationships with households, business homeowners, and communities since 1929. Today, it provides the merchandise, providers, and conveniences related to massive industrial banks, together with a full complement of deposit, mortgage, gear finance, and money administration providers. Rewarding prospects with customized consideration and bankers that may talk within the languages prevalent inside these multicultural markets is what makes the Bank uniquely totally different. As an Equal Housing Lender and chief in actual property lending, the Bank’s skilled lending groups create mortgage options for actual property homeowners and property managers each inside and out of doors the New York City metropolitan space. The Bank additionally fosters relationships with customers nationwide by way of its on-line banking division with the iGObanking® and BankPurely® manufacturers. Additional info on Flushing Bank and Flushing Financial Corporation could also be obtained by visiting the Company’s web site at FlushingBank.com.
This press launch could comprise forward-looking statements throughout the which means of the federal securities legal guidelines. These statements embody statements with respect to our beliefs, plans, aims, objectives, expectations, anticipations, assumptions, estimates, intentions and future efficiency and contain recognized and unknown dangers, uncertainties and different elements, many of which can be past our management and that will trigger the precise outcomes, efficiency or achievements of the Company to be materially totally different from future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. All forward-looking statements are topic to dangers, uncertainties and different elements that will trigger our precise outcomes, efficiency or achievements to vary materially from any outcomes expressed or implied by such forward-looking statements. Such elements embody, amongst others the impression of the COVID-19 pandemic on our monetary situation and outcomes of operations; modifications in rates of interest, together with current and maybe future will increase fueled by inflation; dangers which may be exacerbated relying on the combination of mortgage sorts we use in lending actions; failure to successfully handle our liquidity; our capacity to acquire brokered deposits as a further funding supply; the extremely aggressive markets by which we function; modifications in nationwide and/or native financial situations; modifications in legal guidelines and laws; present situations in, and regulation of, the banking business; a failure in or breach of our operational or safety methods or infrastructure, or these of our third get together distributors and different service suppliers, together with consequently of cyberattacks; modifications in cybersecurity or privateness laws; elevated delays in foreclosures proceedings; our incapability to rent or retain key personnel; impairment of goodwill recorded consequently of acquisitions; incapability to totally notice the anticipated profit of our deferred tax property; world local weather modifications; ESG necessities; and uncertainty surrounding the elimination of LIBOR.
These and different elements are extra absolutely described beneath “Risk Factors” in Item 1A of the Company’s most up-to-date Annual Report on Form 10-Okay for the fiscal 12 months ended December 31, 2021, filed with the SEC on March 7, 2022, and different elements mentioned within the filings we make with the SEC beneath the Securities Exchange Act of 1934, as amended.
All forward-looking statements attributable to the Company are expressly certified of their entirety by these cautionary statements. Forward-looking statements converse solely as of the date on which such statements are made. Except as required by regulation, we disclaim any obligation to replace these forward-looking statements, whether or not consequently of new info, future occasions or in any other case. There is not any assurance that future outcomes, ranges of exercise, efficiency or objectives might be achieved.
Susan Okay. Cullen
Senior Executive Vice President, Treasurer and
Chief Financial Officer
Flushing Financial Corporation