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Correction to Flushing Financial Corporation’s $65.0 million closing press release

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News Tech: Flushing Financial Corporation accidentally referred to the closing of an underwritten public offering of its fixed-to-floating rate subordinated notes due 2032 in a press release with the headline “Flushing Financial Corporation Announces Closing of $65.0 Million of Fixed-to-Floating Rate Subordinated Notes.” Flushing Financial Corporation corrected this error today. The whole text of the updated press release and headline is provided below.

The holding company for Flushing Bank (the “Bank”), Flushing Financial Corporation (NASDAQ: FFIC), announced today that it has priced an underwritten public offering of its fixed-to-floating rate subordinated notes due 2032 (the “Notes”) for $65 million aggregate principal amount. The Notes’ initial fixed interest rate will be 6.000% annually. The interest rate on the Notes resets quarterly to the three-month SOFR rate plus a spread of 313.0 basis points, payable quarterly in arrears, beginning on September 1, 2027. The closure of the offering is anticipated for August 24, 2022, pending the fulfilment of normal closing conditions. The net proceeds from the Notes issue will be used by FFIC for general business objectives, such as investing in the Bank as regulatory capital and providing capital to support our organic expansion or growth through strategic acquisitions.

Flushing Financial Corporation Announces Pricing of $65 Million of Subordinated Debt Offering

Piper Sandler & Co. is acting as Lead Book-Running Manager and Keefe, Bruyette & Woods, A Stifel Company is acting as Joint Book-Running Manager.

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