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Exhibit 99.1 FFIC FLUSHING Financial Corporation John R. Buran , President and CEO Commentary Flushing Financial Corporation Reports 2Q21 GAAP EPS of $ 0.61 and Record Core EPS of $ 0.73 Board of Directors Increases Share Repurchase Authorization " Our successful deposit strategy , the integration of Empire National Bank and the reopening of the New York metro area , resulted in a strong quarter for our Company . Quarterly GAAP EPS of $ 0.61 resulted in an increase of 2 % over the prior quarter . We achieved record core EPS of $ 0.73 , up 103 % YoY and 35 % QoQ . Importantly , we recognized GAAP ROAA and ROAE of 0.93 % and 11.95 % , respectively , and record core ROAA and ROAE of 1.11 % and 14.27 % , respectively . " " We delivered on our strategic objective of optimizing the cost of funds . The cost of funds decreased four basis points from the prior quarter while the average deposit mix continued to improve with both non - interest bearing and core deposits increasing 8 % and 5 % ( not annualized ) , respectively . The fifth consecutive quarter of record net interest income equaled $ 61.0 million , despite total assets remaining flat . We also performed well against our strategic objective to obtain appropriate risk adjusted returns as credit quality improved due to non - performing assets decreasing 17 % QoQ . " · John R. Buran , President and CEO Empire Exceeding Expectations . “ The results of the acquisition of Empire National Bank have exceeded our expectations . When the acquisition was announced , tangible book value earn back was modeled at 3.4 years . Our tangible book value per share as of June 30 , 2021 totaling $ 20.51 exceeds the tangible book value per share of $ 20.22 as of September 30 , 2020 , the reported value when the deal closed and the tangible book value per share of $ 19.62 as of September 30 , 2019 , the reported value when the deal was announced . This accomplishment provided investors with an earn back of 9 months as management actions to achieve targeted cost saves and improved NIM were successful despite the COVID - 19 pandemic and subsequent delays . " Strong Capital ; Increased Share Repurchase Authorization . “ The capital ratios increased during the quarter with TCE / TA increasing to 7.80 % . The Board of Directors authorized an increase of 1 million shares to our current share repurchase program , which now totals nearly 1.3 million shares and had no expiration . With our history of a low inherent risk business model , low loan to values for our real estate loans along with improved credit metrics , we are confident in our ability to support an increased stock repurchase program . " 2Q21 Key Financial Metrics¹ 2Q21 GAAP : EPS ROAA ( % ) ROAE ( % ) NIM FTE ( % ) 1Q21 4Q20 3Q20 2Q20 $ 0.61 $ 0.60 $ 0.11 $ 0.50 $ 0.63 0.93 0.93 0.18 0.81 1.01 11.95 12.29 2.27 9.94 13.11 3.14 3.18 3.08 3.00 2.87 Core : EPS $ 0.73 $ 0.54 $ 0.58 ROAA ( % ) 1.11 ROAE ( % ) 14.27 0.83 0.92 10.96 11.67 $ 0.56 0.91 $ 0.36 0.57 11.22 7.39 Core NIM FTE ( % ) 3.14 3.06 3.03 2.98 2.89 Efficiency Ratio ( % ) 53.4 58.6 57.6 55.4 54.9 Credit Quality : NPAs / Loans & REO ( % ) 0.26 0.31 0.31 0.42 0.34 LLRs / Loans ( % ) 0.64 0.67 0.67 0.65 LLRs / NPLs ( % ) 242.55 212.87 214.27 154.66 0.61 181.84 NCOs / Avg Loans ( % ) 0.05 0.17 0.04 0.06 0.07 Balance Sheet : Avg Loans ( $ B ) $ 6.7 $ 6.7 $ 6.4 $ 5.9 $ 5.9 Avg Dep ( $ B ) $ 6.5 $ 6.3 $ 5.5 $ 5.0 $ 5.0 Book Value / Share $ 21.16 $ 20.65 $ 20.11 $ 20.78 $ 20.27 Tangible BV / Share $ 20.51 TCE / TA ( % ) 7.80 $ 19.71 8.10 7.78 $ 19.99 $ 19.45 $ 20.22 7.60 7.52 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 . " 2Q21 Highlights • Record net interest income up 0.2 % QoQ and 25.3 % YoY to $ 61.0 million , while core net interest income was up 4.4 % QoQ and 24.6 % YoY to $ 61.1 million due to continued improvement in funding costs , increased prepayment penalty income , and net PPP fees • Net interest margin declined 4 bps QoQ , but rose 27 bps YoY to 3.14 % , and core net interest margin was up 8 bps QoQ and 25 bps YoY to 3.14 % primarily due to an improvement in funding costs and a rise in prepayment penalty income • Period end loans , excluding PPP , rose 0.4 % QoQ and 10.7 % YoY ; loan closings were $ 324.4 million in 2Q21 , up 0.5 % QoQ and 38.8 % YoY • Average deposits rose 3.6 % QoQ and 29.1 % YoY to $ 6.5 billion , with core deposits 84 % of total average deposits • Loan pipeline rose 39.2 % YoY to $ 432.6 million • Benefit for credit losses of $ 1.6 million due to an improving economic outlook ; strong LTVs , and improving credit metrics ; net charge - offs were $ 0.9 million or 5 bps of average loans in 2Q21 • NPAs fell 17 % QoQ to $ 17.6 million ; criticized and classified assets increased 9.6 % to $ 69.2 million ( representing 1.03 % of loans ) • Tangible Common Equity to Tangible Assets improved to 7.80 % from 7.60 % in 1Q21 Investor Contact : Susan K. Cullen , SEVP , CFO and Treasurer , 718-961-5400 1