Flushing Financial Corporation Announces the Repurchase of the Outstanding Warrant Issued to the Treasury Under TARP

–(www.FinancialNewsUSA.com)– 01/04/2010 – Savings and Loans industry news provided by Financial News USA. Flushing Financial Corporation (the “Company”) (Nasdaq:FFIC – News), the parent holding company for Flushing Savings Bank, FSB (the “Bank”), announced today that it repurchased the warrant to purchase 375,806 shares of its common stock issued to the U.S. Treasury under the Capital Purchase Program of the Troubled Asset Relief Program (“TARP”).

The original 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 completion of the Company’s successful public stock offering on September 22, 2009. The Company repurchased the warrant for $900,000.

John R. Buran, the Company’s President and Chief Executive Officer, stated: “We are happy to have completed the final phase of our TARP-relationship with the U.S. Treasury following a recommendation by our regulator, the Office of Thrift Supervision. We have been negotiating with the U.S. [Read the full article]

— Company Reports Preliminary Results for 2009 Fourth Quarter —-
Enters into Informal Agreements with Regulators —

Center Financial Corporation (NASDAQ: CLFC – News), the holding company of Center Bank, today announced that it has entered into securities purchase agreements with select institutional investors, insiders and friends of the company pursuant to which it expects to raise $73.5 million.

In preparation for the planned capital raise, the company completed a detailed loan review and an evaluation of its deferred tax asset and goodwill during the fourth quarter of 2009. Based on the findings, the company also announced today certain preliminary financial results for its three months ended December 31, 2009. [Read the full article]

OceanFirst Financial Corp. (Nasdaq:OCFC – News), the holding company for OceanFirst Bank, today announced that it has redeemed the 38,263 shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series A, (the “Preferred Stock”) originally issued to the U.S. Department of the Treasury under the Troubled Asset Relief Program Capital Purchase Program. The Company paid to the Treasury a total of $38,502,000, consisting of $38,263,000 of principal and $239,000 of accrued and unpaid dividends on December 30, 2009. The Company’s redemption of the shares is not subject to additional conditions or stipulations from the Treasury.

“This repayment ends OceanFirst’s participation in the U.S. Treasury’s Capital Purchase Program,” stated Company Chairman, President & CEO John R. Garbarino. [Read the full article]

New York Community Bancorp, Inc. (NYSE: NYB – News) (the Company) today announced that it expects to issue its earnings release for the three and twelve months ended December 31, 2009 at approximately 8:00 a.m. Eastern Time (ET) on Wednesday, January 27, 2010. The release will be posted to the Companyâ€(TM)s website, www.myNYCB.com, upon issuance.

The Company will conduct a post-earnings conference call at 9:30 a.m. (ET) on January 27th, during which Chairman, President, and Chief Executive Officer Joseph R. Ficalora will discuss highlights of the Company fourth quarter 2009 performance and its business strategies, including its recent acquisition of the deposits and certain assets of AmTrust Bank. The conference call will be simultaneously webcast at www.myNYCB.com and archived through 5:00 p.m. on February 24, 2010. [Read the full article] About Financial News USA

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