Flushing Financial Corporation Announces Closing of $65.0 Million of Fixed-to-Floating Rate Subordinated Notes
2022年8月25日 - 5:15AM
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 6.000%. 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 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, “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 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.
Forward-Looking Statements
This press release may contain forward-looking
statements within the meaning of the federal securities laws. These
statements include statements with respect to our beliefs, plans,
objectives, goals, expectations, anticipations, assumptions,
estimates, intentions and future performance and involve known and
unknown risks, uncertainties and other factors, many of which may
be beyond our control and that may cause the actual results,
performance or achievements of the Company to be materially
different from future results, performance or achievements
expressed or implied by such forward-looking statements. All
forward-looking statements are subject to risks, uncertainties and
other factors that may cause our actual results, performance or
achievements to differ materially from any results expressed or
implied by such forward-looking statements. Such factors include,
among others the impact of the COVID-19 pandemic on our financial
condition and results of operations; changes in interest rates,
including recent and perhaps future increases fueled by inflation;
risks that may be exacerbated depending on the mix of loan types we
use in lending activities; failure to effectively manage our
liquidity; our ability to obtain brokered deposits as an additional
funding source; the highly competitive markets in which we operate;
changes in national and/or local economic conditions; changes in
laws and regulations; current conditions in, and regulation of, the
banking industry; a failure in or breach of our operational or
security systems or infrastructure, or those of our third party
vendors and other service providers, including as a result of
cyberattacks; changes in cybersecurity or privacy regulations;
increased delays in foreclosure proceedings; our inability to hire
or retain key personnel; impairment of goodwill recorded as a
result of acquisitions; inability to fully realize the expected
benefit of our deferred tax assets; global climate changes; ESG
requirements; and uncertainty surrounding the elimination of
LIBOR.
These and other factors are more fully described
under “Risk Factors” in Item 1A of the Company’s most recent Annual
Report on Form 10-K for the fiscal year ended December 31, 2021,
filed with the SEC on March 7, 2022, and other factors discussed in
the filings we make with the SEC under the Securities Exchange Act
of 1934, as amended.
All forward-looking statements attributable to
the Company are expressly qualified in their entirety by these
cautionary statements. Forward-looking statements speak only as of
the date on which such statements are made. Except as required by
law, we disclaim any obligation to update these forward-looking
statements, whether as a result of new information, future events
or otherwise. There is no assurance that future results, levels of
activity, performance or goals will be achieved.
#FF
CONTACT:
Susan K. CullenSenior Executive Vice President,
Treasurer andChief Financial OfficerFlushing Financial
Corporation(718) 961-5400
Flushing Financial (NASDAQ:FFIC)
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