Key Developments For Flushing Financial Corp
Flushing Financial Corp (FFIC.O) (Nasdaq)
Flushing Financial Corporation Declares Quarterly Dividend Of $0.13 Per Share
Flushing Financial Corporation announced that its Board of Directors has declared a quarterly dividend on its common stock of $0.13 per common share, payable on December 30, 2009 to shareholders of record at the close of business on December 9, 2009.
Flushing Financial Corporation Repays TARP Capital
Flushing Financial Corporation announced that it has redeemed in full, $70.0 million of preferred stock issued to the U.S. Treasury under the Capital Purchase Program of the Troubled Asset Relief Program (TARP), plus accrued dividends to date. The Company also received notice from the U.S. Treasury yesterday that the warrant granted to the Treasury under the same program was reduced by one-half from 751,611 shares to 375,806 shares as a result of the Company's recent public stock offering.
Flushing Financial Corporation Completes Sale Of Over-Allotment Shares
Flushing Financial Corporation announced that it has entered into an underwriting agreement (underwriting agreement) with Keefe, Bruyette & Woods, Inc. (Keefe Bruyette), as representative of the underwriters named therein (collectively including Keefe Bruyette, the Underwriters), that provided for the sale of 8,317,400 shares of the Company's common stock to the Underwriters, acting severally and not jointly, at a purchase price of $11.50 per share, less underwriting discounts and commissions, in an underwritten public offering (the Offering). The offering was completed on September 22, 2009. Pursuant to the underwriting agreement, the Company granted the underwriters a 30-day option to purchase up to an additional 1,247,610 shares of the Company's common stock to cover over-allotments, if any. On September 29, 2009, Keefe Bruyette, as representative of the Underwriters, provided written notice that the underwriters would be partially exercising the over-allotment option to purchase an additional 1,012,610 shares of the Company's common stock (Over-allotment Shares) at $11.50 per share, less underwriting discounts and commissions. The sale of the Over-allotment Shares was completed on October 1, 2009, resulting in additional net proceeds to the Company, after underwriting discounts and commissions and expenses, of approximately $11.1 million, bringing the total net proceeds to the Company from the offering to an estimated $101.6 million.
Flushing Financial Corporation Completes Common Stock Offering
Flushing Financial Corporation announced that it has completed its public offering of 8,317,400 shares of common stock at a price of $11.50 per share. The net proceeds of the offering after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $90.5 million.
Flushing Financial Corporation Announces Pricing of Common Stock Offering
Flushing Financial Corporation announced the pricing of an underwritten public offering of 8,317,400 shares of its common stock at a price of $11.50 per share, for gross proceeds of approximately $95.7 million, exclusive of any underwriter over-allotment option. The net proceeds of the offering after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $90.5 million. The Company expects to close the sale of the common stock, subject to customary closing conditions, on or about September 22, 2009. Keefe, Bruyette & Woods, Inc. is acting as lead book-running manager for the offering and Sandler O'Neill + Partners, L.P. and Fox-Pitt Kelton Cochran Caronia Waller are acting as co-managers for the offering. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,247,610 shares of the Company's common stock to cover over-allotments, if any. The Company expects to use the net proceeds from this offering for general corporate purposes and to repurchase the 70,000 shares of the Company's Fixed Rate Cumulative Perpetual Preferred Stock Series B (Preferred Stock), and the warrant (Warrant) to purchase up to 751,611 shares of the Company's common stock, issued to the U.S. Department of the Treasury (Treasury) as part of the TARP Capital Purchase Program.
