Business
Flushing Financial Corporation Closes Acquisition of Empire Bancorp, Inc.
UNIONDALE, N.Y., Oct. 30, 2020 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq: FFIC), the parent holding company for Flushing
About this update from Flushing Financial Corporation
[{"type":"text","content":"UNIONDALE, N.Y., Oct. 30, 2020 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq: FFIC), the parent holding company for Flushing Bank, announced today that it completed its acquisition of Empire Bancorp, Inc. effective after the close of business on Friday, October 30, 2020. In connection with the acquisition, Empire National Bank was merged with and into Flushing Bank, and all four Empire National Bank branches will open as Flushing Bank branches on their next business day. The full system integration is planned for mid-November. The combined organization will have $8 billion in assets, $6.6 billion in loans, and $5.7 billion in deposits. Former Empire National Bank customers will receive additional information regarding the effects of this integration on their deposit and loan accounts.\n John R. Buran, President and Chief Executive Officer, Flushing Bank, stated: “We are extremely pleased that we were able to close this transaction despite some delays due to the COVID-19 crisis and resulting financial market volatility. We look forward to welcoming the customers, shareholders, and employees of Empire National Bank to the Flushing Bank family. There are some strong synergies between our two companies, both culturally and operationally, that will be leveraged to build a stronger, more competitive organization. Our combined organization will create a leading Long Island franchise that will be one of the largest community banks on Long Island.” About Flushing Financial Corporation Flushing Financial Corporation (Nasdaq: FFIC) is the holding company for Flushing Bank®, a New York State—chartered commercial bank insured by the Federal Deposit Insurance Corporation. The Bank serves consumers, businesses, professionals, corporate clients, and public entities by offering a full complement of deposit, loan, equipment finance, and cash management services through its banking offices located in Queens, Brooklyn, Manhattan, and on Long Island. As a 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. Flushing Bank is an Equal Housing Lender. The Bank also operates an online banking division consisting of iGObanking.com®, which offers competitively priced deposit product...