Flushing Financial Head Michael Hegarty Retires

Flushing Financial Corporation (Nasdaq: FFIC), the parent holding company for Flushing Savings Bank, FSB, on June 30 announced that Michael J. Hegarty retired as president and chief executive officer. Hegarty, who will continue as a director of the company and the bank, joined the company as executive vice president and chief operating officer in August 1995 and has served as a director since 1987.

Gerard P. Tully, Sr., chairman of the board of directors of Flushing Financial Corporation, stated: “We wish to acknowledge Mike’s exceptional contributions to Flushing Financial Corporation that span over 17 years of dedicated service.

“Under his leadership, Flushing has grown to a well-capitalized and profitable institution of over $2 billion in assets, with a demonstrated ability to grow in a vibrant multicultural market. Mike has helped build a legacy for the bank of which we can all be proud.

“It’s been a privilege for me and the members of our board of directors to work with Mike and his team over the years. We’re very happy that he has chosen to remain a director of our company, allowing us to continue to draw upon the value of his many years of experience.”

Hegarty will be succeeded by John R. Buran, 55, who joined Flushing Financial Corporation as executive vice president and chief operating officer in 2001 and was named a director in 2003, who was named to succeed Hegarty as president and chief executive officer in a planned transition, effective upon Hegarty's retirement.

Flushing Financial Corporation is the holding company for Flushing Savings Bank, FSB, a federally chartered stock savings bank insured by the Federal Deposit Insurance Corporation (FDIC). The bank conducts its business through ten banking offices located in Queens, Brooklyn, Manhattan, and Nassau County.

For more information on Flushing Financial Corporation, visit www.flushingsavings.com.

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