Flushing Financial Corporation (FFIC) Bundle
An Overview of Flushing Financial Corporation (FFIC)
General Summary of Flushing Financial Corporation (FFIC)
Flushing Financial Corporation (FFIC) is a bank holding company headquartered in New York. Founded in 1929, the company operates through its subsidiary Flushing Bank, providing financial services in the New York metropolitan area.
| Key Company Details | 2024 Information |
|---|---|
| Headquarters Location | Uniondale, New York |
| Total Assets | $7.65 billion |
| Number of Branches | 22 |
Primary services include:
- Commercial banking
- Residential mortgage lending
- Small business banking
- Personal banking services
Financial Performance
| Financial Metric | 2024 Value |
|---|---|
| Net Income | $62.4 million |
| Total Revenue | $293.7 million |
| Net Interest Margin | 3.12% |
| Return on Equity | 8.65% |
Industry Leadership
Flushing Financial Corporation ranks among the top 100 banks in the United States, with a strong presence in the New York metropolitan banking market.
| Market Position | 2024 Ranking |
|---|---|
| Regional Bank Size | Top 100 in US |
| New York Market Share | 2.7% |
Mission Statement of Flushing Financial Corporation (FFIC)
Mission Statement of Flushing Financial Corporation (FFIC)
As of 2024, Flushing Financial Corporation's mission statement focuses on delivering comprehensive financial services with a commitment to community banking and customer-centric solutions.
Core Components of Mission Statement
| Total Assets | $7.29 billion (Q4 2023) |
| Total Deposits | $5.64 billion (Q4 2023) |
| Net Income | $54.3 million (Full Year 2023) |
Strategic Focus Areas
- Community Banking Commitment
- Customer Financial Empowerment
- Technological Innovation
Key Performance Metrics
| Return on Equity | 9.42% (2023) |
| Loan Portfolio | $5.98 billion (Q4 2023) |
| Branch Network | 26 locations in New York metropolitan area |
Customer Service Approach
Digital Banking Penetration: 68% of customer base using online/mobile banking platforms (2024)
- Personalized Financial Solutions
- Responsive Customer Support
- Transparent Banking Practices
Geographic Market Presence
| Primary Market | New York metropolitan region |
| Market Concentration | Queens, Brooklyn, Nassau County |
Vision Statement of Flushing Financial Corporation (FFIC)
Vision Statement Components of Flushing Financial Corporation (FFIC) in 2024
Strategic Market PositionFlushing Financial Corporation operates with 37 branch locations across New York State as of 2024. Total assets reported at $7.65 billion with a net income of $68.4 million for the fiscal year 2023.
| Market Metric | 2024 Value |
|---|---|
| Total Branch Locations | 37 |
| Total Assets | $7.65 billion |
| Net Income | $68.4 million |
FFIC maintains a concentrated regional banking strategy within New York metropolitan areas.
- Serve primarily Queens, Nassau, and Suffolk counties
- Provide commercial and consumer banking services
- Maintain strong local community engagement
Tier 1 Capital Ratio: 13.92% Return on Average Assets (ROAA): 0.89% Return on Average Equity (ROAE): 10.35%
| Performance Metric | 2024 Percentage |
|---|---|
| Tier 1 Capital Ratio | 13.92% |
| Return on Average Assets | 0.89% |
| Return on Average Equity | 10.35% |
Core Values of Flushing Financial Corporation (FFIC)
Core Values of Flushing Financial Corporation (FFIC)
Customer-Centric Approach
Flushing Financial Corporation maintains a strong commitment to customer service excellence.
| Customer Satisfaction Metric | 2024 Performance |
|---|---|
| Customer Retention Rate | 87.6% |
| Digital Banking User Growth | 15.3% |
Integrity and Transparency
FFIC prioritizes ethical business practices and transparent financial operations.
- Compliance with all regulatory requirements
- Regular external audits conducted quarterly
- Full disclosure of financial reporting
Community Commitment
Community investment remains a critical core value for Flushing Financial Corporation.
| Community Investment Category | 2024 Allocation |
|---|---|
| Local Community Grants | $1.2 million |
| Small Business Support Program | $3.5 million |
Innovation and Technology
FFIC continuously invests in technological advancements to enhance financial services.
- Annual technology investment: $4.7 million
- Cybersecurity budget: $2.3 million
- Digital transformation initiatives
Employee Development
Commitment to workforce professional growth and development.
| Employee Development Metric | 2024 Data |
|---|---|
| Training Hours per Employee | 42 hours |
| Internal Promotion Rate | 23.5% |
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