Flushing Financial completes offer of 8.3M shares

Flushing Financial completes public offering of 8.3 million shares

• On 12:35 pm EDT, Tuesday September 22, 2009

LAKE SUCCESS, N.Y. (AP) -- Flushing Financial Corp., the parent company of Flushing Savings Bank, said Tuesday it completed a public offering of 8.3 million shares at $11.50 per share, recording proceeds of around $90.5 million.

Last week, the company said it expected proceeds of $95.7 million, excluding overallotment options.

Flushing Financial plans to use proceeds to repurchase shares and a warrant issued to the Treasury Department as part of the bank's participation in the Troubled Asset Relief Program.

Shares lost a penny to $11.49 in afternoon trading.