Flushing Financial Corporation Announces Price of $ 125 Million Subordinated Debt Offering | Your money

UNIONDALE, NY, November 17, 2021 (GLOBE NEWSWIRE) – Flushing Financial Corporation (NASDAQ: FFIC) (“FFIC” or the “Company”), the holding company of Flushing Bank (the “Bank”), announced today that it fixed the price of a subscribed public offering in the aggregate principal amount of $ 125 million of its subordinated variable rate notes due 2031 (the “Notes”). The Notes will initially bear a fixed interest rate of 3.125% per annum. As of December 1, 2026, the interest rate on the Bonds is reset quarterly to the three-month SOFR rate plus a spread of 203.5 basis points, payable quarterly in arrears. The closing of the offer is scheduled for November 22, 2021, subject to the satisfaction of the usual closing conditions. FFIC expects to use the net proceeds of the Note Offering for general corporate purposes, which includes the repayment of the outstanding principal of its outstanding Subordinated Notes and Subordinated Debentures.

Piper Sandler & Co. acts as lead bookkeeping manager and DA Davidson & Co. and RBC Capital Markets, LLC act as co-managers.

Each offering will be made only by means of a prospectus supplement and the accompanying base prospectus. The FFIC has filed a registration statement on form S-3 (file n ° 333-260993) and a preliminary prospectus supplement to the prospectus contained in the registration statement with the Securities and Exchange Commission (“SEC”) of United States for the banknotes to which the communication relates. Prospective investors should read the applicable prospectus supplement and base prospectus in the registration statement and other documents that FFIC has filed or will file with the SEC for more complete information about FFIC and the corresponding offering. You can obtain these documents for free by visiting EDGAR on the SEC’s website at http://www.sec.gov. Electronic copies of each preliminary prospectus supplement, when available, and the accompanying base prospectus can be obtained by contacting Piper Sandler & Co. by telephone at (866) 805-4128 or by email at FSG- [email protected]

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of the Securities, in any state or jurisdiction in which such an offer, solicitation or sale would be. illegal.

About Flushing Financial Corporation

Flushing Financial Corporation (Nasdaq: FFIC) is the holding company of Flushing Bank®, a New York State chartered commercial bank and insured by the Federal Deposit Insurance Corporation. The Bank serves consumers, businesses, professionals, corporate clients and public entities by offering a full range of deposit, loan, equipment financing and cash management services through its bank offices located in Queens , Brooklyn, Manhattan and Long Island. As a leader in real estate lending, the Bank’s experienced lending team creates mortgage solutions for real estate owners and property managers inside and outside of the New York metro area. Flushing Bank is an equal housing lender. The Bank also operates an online banking division comprised of iGObanking®, which offers deposit products at competitive prices to consumers nationwide, and BankPurely®, a community brand of healthier and more eco-friendly lifestyle. ‘environment.

Forward-looking statements

This press release may contain forward-looking statements within the meaning of federal securities laws. These statements include statements about our beliefs, plans, objectives, goals, expectations, expectations, assumptions, estimates, intentions and future performance and involve known and unknown risks, uncertainties and other factors, many of which may be beyond our control. control and who can cause the actual results, performances or achievements of the Company to differ materially from the future results, performances or achievements expressed or implied by these 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 the results expressed or implied by such forward-looking statements. These factors include, among others, the impact of the COVID-19 pandemic on our financial condition and results of operations; changes in interest rates; the risks that may be exacerbated depending on the mix of loan types we use in lending activities; the inability to effectively manage our liquidity; our ability to obtain negotiated deposits as an additional source of funding; the highly competitive markets in which we operate; changes in national and / or local economic conditions; changes in laws and regulations; current conditions and regulations in the banking sector; a failure 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 cyber attacks; increased delays in foreclosure proceedings; our inability to hire or retain key personnel; impairment of goodwill recognized following acquisitions; the inability to fully realize the expected benefit from our deferred tax assets; the uncertainty surrounding the phase-out of LIBOR and the proposed transition to SOFR; and the ultimate success of the integration of Empire Bancorp, Inc., which the Company recently acquired, into the operations of the Company.

These and other factors are further described under the heading “Risk Factors” in Item 1A of the Company’s most recent annual report on Form 10-K for the fiscal year ended December 31, 2020, filed with of the SEC on March 16, 2021, and other factors discussed in the documents we file 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 can be no assurance that future results, levels of activity, performance or objectives will be achieved.

Contact: Susan K. Cullen Senior Executive Vice President, Chief Financial Officer Flushing Bank 718-961-5400

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