Flushing Financial (FFIC) Approves 1M Share Buyback Plan

Flushing Financial (NASDAQ: FFIC) the parent holding company for Flushing Bank (the "Bank"), today announced that the Board of Directors (the "Board") has authorized the purchase of up to 1,000,000 shares of its common stock. Stock will be purchased from time to time, in the open market or through private transactions, subject to market conditions. There is no expiration or maximum dollar amount under this authorization. The previously authorized stock repurchase program has been completed.

John R. Buran, Flushing Financial's President and Chief Executive Officer, stated: "Our strong financial performance and capital position, as well as our confidence in the opportunities for future growth, underlie our belief that our shares are a good value in today's marketplace and that the repurchase of our shares represents an attractive investment opportunity that will benefit the Company and our shareholders. While the timing and amount of future share repurchases will depend on market conditions and the attractiveness of alternative capital investments, this action confirms a continuing commitment to utilize share repurchases as one approach for enhancing shareholder value."

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