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Flushing Financial Corporation Announces Closing of $65.0 Million of Fixed-to-Floating Rate Subordinated Notes
UNIONDALE, N.Y., Aug. 19, 2022 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq-GS: FFIC), the parent holding company for Flushing
About this update from Flushing Financial Corporation
[{"type":"text","content":"UNIONDALE, N.Y., Aug. 19, 2022 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq-GS: FFIC), the parent holding company for Flushing Bank (the “Bank”), announced today that it has completed a $65.0 million offering of its fixed-to-floating rate subordinated notes due 2032 (the “Subordinated Notes”). The Subordinated Notes will have an initial coupon rate of 6.00%. Piper Sandler & Co. acted as Lead Bookrunning Manager and Keefe, Bruyette & Woods, A Stifel Company acted as Joint Bookrunning Manager. Holland & Knight LLP acted as legal counsel to the Company and Paul Hastings LLP acted as legal counsel to the underwriters. John R. Buran, President and Chief Executive Officer, stated “We are pleased with the results of this transaction. It represents our second over-subscribed offering in less than a year - a strong indicator of the market’s confidence in the strength of our franchise.” Flushing Financial Corporation (Nasdaq: FFIC) is the holding company for Flushing Bank®, an FDIC insured, New York State—chartered commercial bank that operates banking offices in Queens, Brooklyn, Manhattan, and on Long Island. The Bank has been building relationships with families, business owners, and communities since 1929. Today, it offers the products, services, and conveniences associated with large commercial banks, including a full complement of deposit, loan, equipment finance, and cash management services. Rewarding customers with personalized attention and bankers that can communicate in the languages prevalent within these multicultural markets is what makes the Bank uniquely different. As an Equal Housing Lender and leader in real estate lending, the Bank’s experienced lending teams create mortgage solutions for real estate owners and property managers both within and outside the New York City metropolitan area. The Bank also fosters relationships with consumers nationwide through its online banking division with the iGObanking® and BankPurely® brands. Additional information on Flushing Bank and Flushing Financial Corporation may be obtained by visiting the Company’s website at FlushingBank.com. “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this Press Release relating to plans, strategies, economic performance and trends, projections of results of specific activ...