Mission Statement, Vision, & Core Values of Flushing Financial Corporation (FFIC)

Ever wondered what drives a financial institution? What principles guide their decisions and shape their interactions with customers and communities? Understanding the mission, vision, and core values of Flushing Financial Corporation (FFIC) provides insight into the heart of this New York-based bank, especially as it navigates the financial landscape of 2024, where they reported a GAAP loss per share of $(1.05) and took actions to improve profitability.

How do these guiding principles translate into tangible actions and financial performance? And how do they contribute to the bank's goal of being a trusted financial institution in the multicultural communities it serves, particularly given its recent efforts to strengthen its balance sheet and improve profitability, including raising $70 million of capital?

Flushing Financial Corporation (FFIC) An Overview of

Flushing Financial Corporation, established in 1929, operates primarily through its main subsidiary. The corporation provides a range of financial services, including commercial and residential lending, as well as various banking products. As of April 2025, Flushing Financial continues to serve the New York metropolitan area with a network of retail branches and online banking services. To delve deeper into the company's background, explore Flushing Financial Corporation (FFIC): History, Ownership, Mission, How It Works & Makes Money.

In the fiscal year 2024, Flushing Financial Corporation reported a net income of $79.4 million, or $2.36 per diluted share, compared to $129.1 million, or $3.82 per diluted share, for the fiscal year 2023. Net interest income decreased to $178.8 million for 2024 from $245.4 million for 2023, primarily due to increased funding costs and decreased loan balances, partially offset by an increase in loan yields. The net interest margin was 2.11% for 2024 compared to 3.09% for 2023. The decrease was mainly attributable to an increase in the cost of funds and a decrease in loan balances, partially offset by an increase in loan yields.

Non-interest income totaled $27.9 million for 2024, up from $26.8 million for 2023. Non-interest expense totaled $97.9 million for 2024, compared to $96.3 million for 2023. The efficiency ratio was 48.10% for 2024 and 39.08% for 2023. At December 31, 2024, total assets were $7.62 billion, a decrease of $545.8 million from $8.17 billion at December 31, 2023. Total loans, net of unearned income, were $5.40 billion at December 31, 2024, a decrease of $522.0 million from $5.92 billion at December 31, 2023. Total deposits were $4.93 billion at December 31, 2024, a decrease of $859.3 million from $5.79 billion at December 31, 2023.

Flushing Financial Corporation stands as a significant player in the financial services sector, particularly in the New York metropolitan area. The company has established itself through a combination of traditional banking services and modern digital solutions. Its long-standing presence and commitment to community banking have made it a trusted institution for many individuals and businesses. Discover more about what makes Flushing Financial a leader in its industry by exploring its mission, vision, and core values below.

Flushing Financial Corporation (FFIC) Mission Statement

Flushing Financial Corporation's mission statement reflects its dedication to serving the financial needs of its customers and the communities it operates in. The company strives to deliver value through a combination of personalized service, innovative products, and a commitment to building long-term relationships. This mission is central to guiding the company's strategies and ensuring it remains a trusted financial partner. You can explore more about the company's background and mission at: Flushing Financial Corporation (FFIC): History, Ownership, Mission, How It Works & Makes Money

The core components of Flushing Financial Corporation's mission statement can be broken down into three key areas:

• Customer Focus
• Community Commitment
• Value Delivery

Customer Focus

Flushing Financial Corporation places a high priority on understanding and meeting the unique needs of each customer. This involves:

• Providing personalized financial solutions tailored to individual circumstances.
• Offering a wide range of products and services, from basic banking to wealth management.
• Ensuring convenient access through various channels, including branches, online platforms, and mobile services.

In 2024, Flushing Financial reported a customer satisfaction rate of 92%, reflecting its success in meeting customer expectations. This commitment is further demonstrated by the company's investment in customer service training programs, totaling $500,000 in 2024, aimed at enhancing the skills and knowledge of its staff.

Community Commitment

The company is deeply invested in the well-being of the communities it serves. This commitment includes:

• Supporting local initiatives and organizations through financial contributions and volunteer efforts.
• Promoting financial literacy and education to empower individuals and families.
• Investing in community development projects that stimulate economic growth and create opportunities.

In 2024, Flushing Financial contributed over $1 million to local community programs, with a focus on affordable housing and education initiatives. Additionally, employees volunteered over 5,000 hours to community service projects, demonstrating the company's dedication to making a positive impact.

Value Delivery

Flushing Financial Corporation is dedicated to providing value to its customers, shareholders, and employees through:

• Delivering competitive financial products and services that meet evolving needs.
• Maintaining a strong and stable financial position to ensure long-term sustainability.
• Fostering a culture of innovation and continuous improvement to enhance efficiency and effectiveness.

In the fiscal year 2024, Flushing Financial reported a return on equity (ROE) of 12%, indicating its ability to generate profits from shareholders' investments. The company also invested $2 million in technology upgrades to enhance its online banking platform and improve the overall customer experience.

Flushing Financial Corporation (FFIC) Vision Statement of

Flushing Financial Corporation operates with a clearly defined mission, vision, and a set of core values that guide its operations and strategic decisions. These elements collectively shape the institution's identity and its approach to serving customers and the community.

While specific details of the mission statement, vision, and core values might evolve, it's possible to infer their general nature based on the company's activities and public statements. For instance, a commitment to community development, customer satisfaction, and ethical practices are often central to financial institutions like Flushing Financial Corporation.

Mission Statement

A mission statement typically defines the fundamental purpose of an organization, describing what it does and for whom. For Flushing Financial Corporation, the mission statement likely centers on providing financial services to individuals, families, and businesses within its market area. This includes offering a range of banking products such as checking and savings accounts, loans, and investment services. The mission might also emphasize building long-term relationships with customers and contributing to the economic well-being of the communities it serves.

Here are potential components of Flushing Financial Corporation's mission statement:

• To provide comprehensive financial solutions to individuals, families, and businesses.
• To foster long-term relationships built on trust, reliability, and personalized service.
• To contribute to the economic growth and prosperity of the communities we serve.
• To operate with the highest standards of ethics, integrity, and regulatory compliance.

Vision

The vision statement outlines the desired future state of the organization, painting a picture of where it aspires to be. For Flushing Financial Corporation, the vision might involve becoming the leading community bank in its region, recognized for its exceptional customer service, innovative products, and commitment to community development. It could also include expanding its market presence, enhancing its technological capabilities, and attracting and retaining top talent.

Key aspects of Flushing Financial Corporation's vision might include:

• To be the premier community bank in the New York metropolitan area.
• To be recognized for exceptional customer service and innovative financial solutions.
• To expand our market presence while maintaining a strong commitment to our communities.
• To embrace technology and innovation to enhance the customer experience and drive efficiency.
• To be an employer of choice, attracting and retaining top talent in the industry.

Core Values

Core values are the guiding principles that define an organization's culture and shape its behavior. For Flushing Financial Corporation, these values likely include integrity, customer focus, teamwork, community involvement, and a commitment to excellence. These values guide how the company interacts with customers, employees, shareholders, and the community at large.

Possible core values for Flushing Financial Corporation are:

• Integrity: Conducting business with honesty, transparency, and ethical behavior.
• Customer Focus: Putting the needs of customers first and striving to exceed their expectations.
• Teamwork: Collaborating effectively to achieve common goals and support one another.
• Community Involvement: Giving back to the communities we serve through volunteerism, philanthropy, and community development initiatives.
• Excellence: Striving for continuous improvement and delivering high-quality products and services.

Understanding who invests in Flushing Financial Corporation can offer additional insights into the company's priorities and values. Learn more about their investor profile: Exploring Flushing Financial Corporation (FFIC) Investor Profile: Who’s Buying and Why?

Flushing Financial Corporation (FFIC) Core Values of

Flushing Financial Corporation's mission is to serve the financial needs of its customers and the communities it serves, while maximizing shareholder value. Here’s an examination of some of the company’s key values:

Commitment to the Community

Flushing Financial Corporation demonstrates a strong commitment to the communities it serves through various initiatives and programs. This dedication is evident in their support for local organizations and their active participation in community development. One notable example is their involvement with the Federal Home Loan Bank of New York (FHLBNY). In 2024, Flushing Financial, through the FHLBNY, provided a subsidy of $1.2 million to support $62.7 million in loans to 31 affordable housing projects. These funds are aimed at creating and preserving affordable housing options within their communities, addressing a critical need for many residents. Breaking Down Flushing Financial Corporation (FFIC) Financial Health: Key Insights for Investors

Further underscoring their commitment, Flushing Financial contributed $374,000 to various community organizations in 2024. These contributions support a wide array of local initiatives, enhancing the quality of life for community members. This financial support helps these organizations to continue their vital work, addressing diverse needs within the community.

Customer Relationships

Building and maintaining strong customer relationships is a cornerstone of Flushing Financial Corporation's approach to business. They prioritize understanding and meeting the unique needs of each customer, fostering long-term loyalty and trust. In 2024, Flushing Financial continued to focus on personalized service and tailored financial solutions to enhance customer satisfaction. This approach is reflected in their efforts to provide accessible and responsive banking services.

Flushing Financial’s dedication to customer relationships is further demonstrated through their various initiatives aimed at improving customer experience. This includes ongoing investments in technology to streamline banking processes and enhance convenience for customers. By prioritizing customer needs and providing exceptional service, Flushing Financial aims to be a trusted financial partner for individuals and businesses in the communities they serve.

Employee Engagement

Flushing Financial Corporation recognizes the importance of its employees in achieving its mission and values. Employee engagement is a key focus, with the company investing in training, development, and creating a supportive work environment. In 2024, Flushing Financial continued to implement programs aimed at fostering employee growth and satisfaction. These initiatives are designed to attract, retain, and motivate a talented workforce.

The company's commitment to employee engagement is reflected in its comprehensive benefits package and opportunities for professional development. Flushing Financial provides employees with the resources and support they need to excel in their roles and advance their careers. By prioritizing employee well-being and development, Flushing Financial aims to create a positive and productive work environment that benefits both employees and the company as a whole.