UNITED STATES
SECURITIES and EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
Date of Report: September 24, 1997
Date of earliest event reported: September 9, 1997
FLUSHING FINANCIAL CORPORATION
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(Exact name of registrant as specified in its charter)
DELAWARE 000-24272 11-3209278
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation) File Number) Identification No.)
144-51 NORTHERN BOULEVARD,
FLUSHING, NEW YORK 11354
(Address of principal executive offices) (Zip code)
(718) 961-5400
(Registrant's telephone number, including area code)
Not Applicable
(Former name of former address, if changed since last report)
Page 1 of 7 Pages
The Index to Exhibits is on Page 5.
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Item 5. OTHER EVENTS
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The press release attached hereto under Item 7 as Exhibit 1 is
incorporated by reference herein.
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Item 7. EXHIBITS
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1. Press release of Flushing Financial Corporation, dated September 10, 1997.
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SIGNATURE
Pursuant to the requirements of Section 12 of the Securities
Exchange Act of 1934, the registrant has duly caused this registration
statement to be signed on its behalf by the undersigned, thereto duly
authorized.
Dated: September 24, 1997
FLUSHING FINANCIAL CORPORATION
By: /s/ JAMES F. McCONNELL
Name: James F. McConnell
Title: President and Chief
Executive Officer
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INDEX TO EXHIBITS
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Exhibit Page
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1 Press release of Flushing Financial Corporation, 6
dated September 10, 1997.
FFC
FLUSHING
FINANCIAL CORP.
CONTACT:
Michael J. Hegarty John P. Kehoe/Van Negris
Executive Vice President Kehoe, White, Savage & Company, Inc.
Flushing Financial Corporation (212) 888-1616
(718) 961-5400
FOR IMMEDIATE RELEASE
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FLUSHING FINANCIAL CORPORATION TO ACQUIRE
NEW YORK FEDERAL SAVINGS BANK
FLUSHING, NY - September 10, 1997 - Flushing Financial
Corporation (Nasdaq: FFIC) ("Flushing Financial") the parent holding company
for Flushing Savings Bank, FSB ("Flushing Savings") today announced that it
has completed the merger of New York Federal Savings Bank ("New York
Federal"), a privately held federal savings bank, with Flushing Savings,
effective on September 9, 1997. The cash transaction is valued at
approximately $13 million including common stock, options and preferred stock.
The merger increased Flushing Financial's assets to $938 million and loan
portfolio to $545 million (based on Flushing Financial Corporation's financial
position at June 30, 1997). New York Federal will continue its operations as
a division of Flushing Savings under the New York Federal name.
James F. McConnell, President and Chief Executive Officer of
Flushing Financial Corporation, stated "We are pleased to have New York
Federal on board with Flushing Financial. This acquisition is the latest
development in Flushing Financial's continuing efforts to grow and expand its
customer base in the markets that it serves. It meets all of our acquisition
criteria by positively contributing to both current and future earnings,
strengthening our market position and enhancing shareholder value."
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995: The statements in this Press Release relating
to plans, strategies, economic performance and trends 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, factors discussed in the Company's Annual Report on
Form 10-K and in other documents filed with the Securities and Exchange
Commission from time to time. The Company has no obligation to update these
forward-looking statements.
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Flushing Financial Corporation is the holding company for
Flushing Savings Bank, FSB, a federally chartered stock savings bank insured
by the FDIC. The Bank conducts its business through seven banking offices
located in Queens, Brooklyn, Manhattan and Nassau County.
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