John E. Roe, Sr. To Step Down as Chairman of the Board of Flushing Financial Corporation; Alfred A. DelliBovi Named as Succes...
January 10 2017 - 5:20PM
Flushing Financial Corporation (the “Company”) (Nasdaq:FFIC), the
parent holding company for Flushing Bank (the “Bank”), announced
today that John E. Roe, Sr. stated his intention to relinquish his
positions as Chairman of Board of Flushing Financial Corporation
and Flushing Bank and Alfred A. DelliBovi has been elected Chairman
of the Board of Directors of the Company and the Bank, effective
February 3, 2017.
Mr. Roe has been Chairman since February 2011
and a member of the Board of Directors of the Company since its
formation in 1994 and of the Bank since 1968. During Mr. Roe’s
tenure on the Board, the Bank has grown from $592 million to $5.9
billion in assets. John R. Buran, President and Chief
Executive Officer of Flushing Financial, stated “On behalf of the
Board of Directors, I want to thank John Roe for his leadership and
support over these past years. He has been a great partner in
managing the growth of our organization and we are pleased that he
will remain on our board.”
John E. Roe, Sr., the outgoing Chairman, stated:
“Al has held many prestigious positions in both the public and
private sectors. His broad experience in all aspects of banking
make him uniquely qualified in both knowledge and experience. This
will serve him well in his new role as Chairman of the Board of
Flushing Financial.” Mr. DelliBovi is a nationally recognized
authority on banking, the lending industry, housing, and public
finance. He has been a member of the Board of Directors since 2014.
Prior to joining the Board, He served as President and CEO of the
Federal Home Loan Bank of New York. During his 21-year tenure at
the helm of the Bank, he led a team of financial professionals
growing the Bank tenfold to $120 billion in assets. Mr. DelliBovi
has also held many prestigious political positions. He served as
Deputy Secretary of the U. S. Department of Housing and Urban
Development. He was also named to the Housing Commission of the
Bipartisan Policy Center in Washington, D.C. He was the
Administrator of the Urban Mass Transportation Administration at
the US Department of Transportation in Washington, D.C. He also
served as a Board Member of the Regional Plan Association and Vice
Chair of the Board of Pentegra Defined Contribution Plan for
Financial Institutions. He was appointed by President
Bush as Co-Chairman of the Presidential Task Force on Recovery in
Los Angeles. Mr. DelliBovi served four terms as a member of
the New York State Assembly where he specialized in banking issues.
John R. Buran, President and Chief Executive Officer of Flushing
Financial, stated: “During Al’s tenure as a Director, he has served
on the Executive, Audit, Risk and Compliance, and Investment
Committees. I look forward to working with Al in his new role as we
continue to grow the Flushing Financial franchise." Mr.
DelliBovi stated: “I am extremely proud of this nomination and
thank my fellow board members for their support and confidence. I
would like to thank John E. Roe, Sr., who has served as Chairman of
the Board for the past 6 years. Under John’s leadership, Flushing
Financial has grown profitably and delivered solid financial
performance during economically challenging times.”
About Flushing Financial
Corporation
Flushing Financial Corporation (Nasdaq:FFIC) is
the holding company for Flushing Bank®, a New York State-chartered
commercial bank insured by the Federal Deposit Insurance
Corporation. The Bank serves consumers, businesses, professionals,
corporate clients, and public entities by offering a full
complement of deposit, loan, and cash management services through
its 19 banking offices located in Queens, Brooklyn, Manhattan, and
Nassau County. As a leader in real estate lending, the Bank’s
experienced lending team creates mortgage solutions for real estate
owners and property managers both within and outside the New York
City metropolitan area. The Bank also operates an online banking
division, iGObanking.com®, which offers competitively priced
deposit products to consumers nationwide. Additional information on
Flushing Bank and Flushing Financial Corporation may be obtained by
visiting the Company’s website at http://www.flushingbank.com.
"Safe Harbor" Statement under the
Private Securities Litigation Reform Act of 1995:
Statements in this Press Release that are not descriptions of
historical facts may be forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking information
is inherently subject to risks and uncertainties, and actual
results could differ materially from those currently anticipated
due to a number of factors, which include, but are not limited to,
risk factors discussed in the Company's Annual Report on Form 10-K
for the fiscal year ended December 31, 2015 and in other documents
filed by the Company with the Securities and Exchange Commission
from time to time. Forward-looking statements may be
identified by terms such as "may", "will", "should", "could",
"expects", "plans", "intends", "anticipates", "believes",
"estimates", "predicts", "forecasts", "potential" or "continue" or
similar terms or the negative of these terms. Although we
believe that the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results,
levels of activity, performance or achievements. The Company
has no obligation to update these forward-looking statements.
Maria A. Grasso
Senior Executive Vice President, Chief Operating Officer
Flushing Bank
718-961-5400
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