| Business Summary | | Flushing
Financial
Corporation
operates
its
wholly
owned
subsidiary,
Flushing
Savings
Bank
(the
Bank).
In
addition
to
operating
the
Bank,
the
Company
invests
primarily
in
United
States
government
and
federal
agency
securities,
federal
funds,
mortgage-backed
securities
and
corporate
securities.
The
Company
also
holds
a
note
evidencing
a
loan
that
it
made
to
an
employee
benefit
trust
established
by
the
Company
for
the
purpose
of
holding
shares
for
allocation
or
distribution
under
certain
employee
benefit
plans
of
the
Company
and
the
Bank.
The
Bank's
principal
business
is
attracting
retail
deposits
from
the
general
public
and
investing
those
deposits
together
with
funds
generated
from
ongoing
operations
and
borrowings. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | FFIC
is
a
bank
holding
Co.
for
Flushing
Savings
Bank,
a
federally
charted
savings
bank.
FFIC
operates
six
branch
offices
in
the
NY
Metropolitan
Area.
For
the
six
months
ended
6/30/01,
interest
income
rose
6%
to
$50.3
million.
Net
interest
income
after
loan
prov.
fell
1%
to
$20.1
million.
Net
income
rose
9%
to
$7.3
million.
Net
interest
income
reflects
higher
average
balances
on
mortgage
loans,
partially
offset
by
a
lower
net
spread.
Net
income
reflects
income
earned
on
BOLI. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Gerard Tully, Sr., 73 Chairman | -- | Michael Hegarty, 61 Pres,
CEO, Director of the Company and the Bank | $681K | Monica Passick, 62 CFO,
Sr. VP, Treasurer | 201K | John Buran, 51 COO,
Exec. VP | -- | Anna Piacentini, 54 Sr.
VP, Corp. Sec. of the Company and the Bank and Sr. VP of | -- | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|