UNIONDALE, N.Y., July 05, 2016 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (Nasdaq:FFIC), the parent holding company for Flushing Bank, announced today that the Bank has sold its property at 144-51 Northern Boulevard, Flushing, NY to developer CW Northern, LLC. The transaction closed on June 24, 2016. The Bank utilized CBRE, Inc. to market the property.

The Flushing Bank branch will remain open until a new updated branch location bordering on the current facility is ready for occupancy.

John R. Buran, President and Chief Executive Officer stated: “This sale will provide us with an additional $21 million in capital. This affords us the flexibility to reinvest the gain in our growing markets.”

About Flushing Financial Corporation

Flushing Financial Corporation (Nasdaq:FFIC) is the holding company for Flushing Bank®, a New York State-chartered commercial bank insured by the Federal Deposit Insurance Corporation. The Bank serves consumers, businesses, professionals, corporate clients, and public entities by offering a full complement of deposit, loan, and cash management services through its 19 banking offices located in Queens, Brooklyn, Manhattan, and Nassau County. As a leader in real estate lending, the Bank’s experienced lending team creates mortgage solutions for real estate owners and property managers both within and outside the New York City metropolitan area. The Bank also operates an online banking division,iGObanking.com®, which offers competitively priced deposit products to consumers nationwide. Additional information on Flushing Bank and Flushing Financial Corporation may be obtained by visiting the Company’s website at http://www.flushingbank.com.