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Exhibit 99.1 FFIC FLUSHING Financial Corporation John R. Buran , President and CEO Commentary Fourth Consecutive Quarter of Record Net Interest Income 1Q21 GAAP EPS of $ 0.60 , Core EPS of $ 0.54 ; Reported NIM Up 10 bps , Core NIM Rises 3 bps QoQ UNIONDALE , N.Y. , April 27 , 2021 ( GLOBE NEWSWIRE ) - " We are optimistic that as more people receive vaccines , local economic activity will improve . Our first quarter 2021 actions largely focused on helping our customers navigate an improving , but still challenging environment . Despite these challenges , we achieved our fourth consecutive quarter of record net interest income . We reduced loans in forbearance by 81 % from their peak nearly a year ago , and while our forbearance programs will continue into 2022 , borrowers ' fundamentals are improving . The recent steepening of the yield curve is a positive for us and we expect to capitalize on our robust loan pipeline . We continue to make investments in our technology platform and fintech partnerships , both of which are driving digital engagement . ” Record Net Interest Income ; NIM Expansion . “ Core NIM improved by 3 bps during the quarter as funding costs declined faster than asset yields . The steeper yield curve should mitigate pressure on asset yields while keeping funding costs low . However , we are preparing for an eventual rise in short term rates by extending the duration of our liabilities and utilizing forward swaps , the bulk of which begin in 2022. We focused our efforts on PPP this quarter and that impacted overall loan growth , which rose 2.4 % ( annualized ) from fourth quarter 2020. We reported " First quarter of 2021 marked a continuation of the economic improvement in our local economies and the outlook is brighter than three months ago with continued vaccine rollouts and a steeper yield curve . We continue to assist customers during the pandemic by originating $ 123 million of PPP loans in the quarter and processing nearly $ 50 million in forgiveness over the life of the program . " - John R. Buran , President and CEO first quarter GAAP EPS of $ 0.60 , which included improving fair value adjustments , partially offset by merger and other charges totaling $ 0.06 per share , net of tax . Adjusting for noncore items¹ , first quarter core EPS was $ 0.54 , up 184 % year over year . The Empire integration is complete with 100 % of the cost savings in our run rate . We are on track to achieve our 20 % earnings accretion target for 2021. " Strong Credit Quality . “ We remain confident with our credit quality given the loan to value of 38 % on our real estate dependent loans , improving delinquencies , lower criticized and classified assets , and our conservative underwriting standards . ” 1Q21 Key Financial Metrics¹ 1Q21 Highlights • Record net interest income up 9.3 % QoQ and 49.2 % YoY to $ 60.9 million , while core net interest income was up 7.0 % QoQ and 36.5 % YoY to $ 58.5 million due to Empire transaction and lower funding costs • Net interest margin rose 10 bps QoQ and 74 bps YoY to 3.18 % , and core net interest margin up 3 bps QoQ and 50 bps YoY to 3.06 % primarily due to lower funding costs • Average loans up 5.1 % QoQ and 15.6 % YoY to $ 6.7 billion , including $ 123.2 million of PPP originations • Average deposits rose 14.0 % QoQ and 23.4 % YoY to $ 6.3 billion , with core deposits 83 % of total average deposits ( including escrow deposits ) 1Q21 4Q20 3Q20 2Q20 1Q20 GAAP : EPS $ 0.60 ROAA ( % ) 0.93 ROAE ( % ) 12.29 NIM FTE ( % ) 3.18 $ 0.11 $ 0.50 0.18 0.81 2.27 9.94 3.08 3.00 $ 0.63 ( $ 0.05 ) 1.01 ( 0.08 ) 13.11 ( 0.96 ) 2.87 2.44 Core : EPS $ 0.54 $ 0.58 $ 0.56 $ 0.36 $ 0.19 ROAA ( % ) 0.83 0.92 0.91 0.57 ROAE ( % ) 10.96 11.67 11.22 7.39 0.31 3.82 Core NIM FTE ( % ) 3.06 3.03 2.98 2.89 2.56 Efficiency Ratio ( % ) 58.6 57.6 55.4 54.9 68.2 Credit Quality : NPAs / Loans & REO ( % ) 0.31 0.31 0.42 0.34 0.29 LLRs / Loans ( % ) 0.67 0.67 0.65 0.61 0.47 • Loan pipeline rose 15.9 % YoY to $ 375.8 million LLRs / NPLs ( % ) 212.87 214.27 154.66 181.84 167.73 NCOs / Avg Loans ( % ) 0.17 0.04 0.06 0.07 Balance Sheet : Avg Loans ( $ B ) $ 6.7 $ 6.4 $ 5.9 Avg Dep ( $ B ) $ 6.3 $ 5.5 $ 5.0 Book Value / Share $ 20.65 $ 5.9 $ 5.8 $ 5.0 $ 5.1 $ 20.11 $ 20.78 $ 20.27 $ 19.48 Tangible BV / Share TCE / TA ( % ) 7.78 $ 19.99 $ 19.45 $ 20.22 $ 19.71 $ 18.92 7.60 7.52 8.10 1 See " Reconciliation of GAAP Earnings and Core Earnings " and " Reconciliation of GAAP Net Interest Margin to Core and Base Net Interest Income and Net Interest Margin . " • Provision for credit losses of $ 2.8 million and net charge - offs of $ 2.9 million in 1Q21 largely the result of the $ 2.8 million charge - off for the remaining taxi medallion loans • NPAs were flat QoQ at $ 21.2 million ; criticized and classified assets fell 11.9 % to $ 63.1 million • Loans in forbearance were 4.4 % of total loans and only 1.7 % of loans excluding loans making interest only payments Investor Contact : Susan K. Cullen , SEVP , Treasurer and CFO , 718-961-5400 0.08 7.38 1