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Environmental, Social, and Governance

EQS Report

At Flushing Financial, we are proud of our nearly 100-year history serving as a trusted financial institution to our customers and communities. We are committed to fostering a sustainable business that puts our values into action every day to achieve our purpose of helping our customers succeed and our diverse communities thrive.

We integrate environmental, social, and governance objectives into our decision-making to help deliver long-term value. In doing so, we are guided by our employees, customers, shareholders, and other stakeholders, along with third-party frameworks including the Sustainability Accounting Standards Board (SASB) Commercial Banks standard. The Chief Risk Officer incorporates certain ESG risks into the monthly report presented to the Board of Directors.

Corporate Responsibility Report

Archived Reports:
2020-2021

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Responsible Banking

Our ongoing success in building rewarding relationships with communities, customers, and employees is at the center of our decision-making process. It is our responsibility to ensure that we deliver value to these key stakeholders. As a community bank, we believe it is our responsibility to give back to the communities we serve. The Bank has contributed almost $1.9 million to over 100 organizations since 2021, with $1.7 million of grants to community organizations in 2023, and we are proud of maintaining an Outstanding CRA rating.

To understand the needs of our communities, we collaborate with three advisory boards made up of local community and civic leaders who are familiar with the trends, issues, and concerns of their respective communities. Additionally, our employees volunteer their time and participate on community organization boards such as Chinatown Partnership, Flushing BID, YMCA, and Flushing Town Hall. With approximately one-third of our bank branches located in low- to moderate-income (LMI) areas, we are committed to providing access to banking services to traditionally unbanked and underbanked communities.

Corporate Responsibility Report
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Climate Risk Management and Environment

We recognize the need to foster environmentally friendly practices. We consider the environment primarily through our assessment of underwriting risks, including remediating environmental issues and verifying if a property or business is in a flood zone, requiring flood insurance when necessary, and operating efficient and environmentally friendly branches and facilities.

At the end of 2023, approximately 89% of gross loans were collateralized by real estate. On a portfolio basis, a risk assessment is made for climate change. Additionally, starting in 2024, New York City Local Law 97 requires building owners to address emissions standards for buildings with gross building areas of 25,000 square feet or more. Environmental impact studies are required for construction loans, and we also review environmental reporting on certain commercial real estate loans for adherence to American Society for Testing and Materials (ASTM) standards.

Corporate Responsibility Report
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Governance and Integrity

Corporate governance is a strength of our Company. Our Board of Directors has oversight for employees, community, and customer activities through regular meetings and special committees.

The Company has established policies to foster strong governance and to help minimize conflicts of interest, including no hedging or pledging of company stock for executive officers and directors. Each director has stock ownership requirements of 5,000 shares, but the average holding per director was over 72,000 shares as of December 31, 2023. There are stock ownership guidelines for executives, and the Company has a compensation clawback policy. Lending to officers, directors, or affiliated parties is not permitted. We believe these policies strengthen the Board and help directors to maintain independence.

Corporate Responsibility Report

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