Flushing Financial Corporation (NASDAQ: FFIC) (“Flushing” or “the company”) is an $9.3 billion bank holding company headquartered in Uniondale, New York. Through the principal operating subsidiary, Flushing Bank (“the bank”), the company operates a 28-branch footprint in the greater-NYC area; predominately in Queens, Brooklyn, and Nassau County (Long Island), with locations in Manhattan and Eastern Long Island as well.
Flushing's moderate growth over multiple years has been largely organic, though the acquisition of Empire Bancorp in 4Q20 marked the company’s first deal in many years, adding approximately $1 billion in assets, and expanding the company into Eastern LI.
Flushing’s $6.8 billion loan portfolio is commercially oriented, with investor CRE comprising the largest portion of the portfolio (68%); mainly in midsized, rent-regulated multifamily properties which comprise the majority of this segment and has been Flushing’s historic lending…
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