Flushing Financial seeks to raise $70 million to shore up capital as it unloads underwater bonds [CNBC]
Flushing Financial Corporation (FFIC)
Last flushing financial corporation earnings: 4/28 05:30 pm
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US:NASDAQ Investor Relations:
flushingbank.com/about-us/investor-relations.html
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Source: CNBC
The bank's CEO, John Buran, has told potential investors that he intends to sell low-yielding bonds and loans backed by commercial real estate, including multifamily building loans, moves that would generate a loss and necessitate the sale of fresh stock, people with knowledge of the deal told CNBC. Flushing had about $9.3 billion in assets as of September. Flushing Financial, a New York-based commercial real estate lender, is seeking to raise $70 million to shore up its capital, CNBC has learned. The bank's CEO, John Buran, has told potential investors that he intends to sell low-yielding bonds and loans backed by commercial real estate, including multifamily buildings, moves that would generate a loss and necessitate the sale of fresh stock, people with knowledge of the deal told CNBC. Bankers working on the deal have yet to finalize pricing, but it will likely be between $15 to $15.50 per share, according to a person familiar, below the $17.25 level the stock closed at on
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FFIC
News
- 3 US Stocks Estimated To Be Trading Up To 32.9% Below Intrinsic Value [Yahoo! Finance]Yahoo! Finance
- Flushing Financial Corporation To Host Fourth Quarter and Full Year 2024 Earnings Conference Call [Yahoo! Finance]Yahoo! Finance
- Flushing Financial Corporation To Host Fourth Quarter and Full Year 2024 Earnings Conference CallAccesswire
- Flushing Financial Corporation Announces Closing of Common Stock Offering [Yahoo! Finance]Yahoo! Finance
- Flushing Financial Corporation Announces Closing of Common Stock OfferingAccesswire
FFIC
Earnings
- 10/24/24 - Beat
FFIC
Sec Filings
- 12/18/24 - Form 8-K
- 12/17/24 - Form SCHEDULE
- 12/16/24 - Form 4
- FFIC's page on the SEC website