Flushing Bank Sponsors Grant Application to Federal Home Loan Bank of New York to Finance Affordable Housing Project

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Flushing Bank Sponsors Grant Application to Federal Home Loan Bank of New York to Finance Affordable Housing Project

ECONOMY 05.12.2024

Flushing Financial Corporation (the "Company") (NASDAQ:FFIC), the parent holding company for Flushing Bank (the "Bank"), announced that Flushing Bank has secured an affordable housing grant on behalf of the Greenburgh Housing Authority who was awarded a $1.9 million grant from Federal Home Loan Bank of New York. The grant will subsidize the redevelopment of a 30-unit senior housing facility originally developed in 1972. The grant will assist in financing a temporary relocation plan for the existing tenants, demolition of the existing structure and the construction of a new 70-unit state of the art senior housing residence. The redevelopment will improve the residents' quality of life by providing a fully handicapped accessible site, on-site amenities, and more accommodating living spaces.

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John R. Buran, President and Chief Executive Officer stated, "Flushing Bank is proud to support the Manhattan Avenue Senior Apartments development project. Improving and preserving quality affordable housing is part of the Bank's mission to better serve our local communities. Partnerships such as this are essential components in this process. Our Lending Team is looking forward to partnering with the Federal Home Loan Bank of New York and Greenburgh Housing Authority, in completing these much-needed improvements for the community."

About Flushing Financial Corporation
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 who can communicate in the languages prevalent within these multicultural markets are 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 activities or investments and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors discussed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and in other documents filed by the Company with the Securities and Exchange Commission from time to time. Forward-looking statements may be identified by terms such as "may", "will", "should", "could", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "forecasts", "goals", "potential" or "continue" or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. The Company has no obligation to update these forward-looking statements.

#FB

CONTACT:
Maria A. Grasso
Senior Executive Vice President, Chief Operating Officer
Flushing Bank
718-961-5400

SOURCE: Flushing Financial Corporation

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Arizona Tribune - Flushing Bank Sponsors Grant Application to Federal Home Loan Bank of New York to Finance Affordable Housing Project

Flushing Bank Sponsors Grant Application to Federal Home Loan Bank of New York to Finance Affordable Housing Project

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