Flushing Financial completed the acquisition of Empire Bancorp for $111m.

Flushing Financial, the parent holding company for Flushing Bank, completed the acquisition of Empire Bancorp, the parent holding company for Empire National Bank, for $111m. Under the terms of the merger agreement, each share of Empire common stock was exchanged for either 0.6548 shares of Flushing common stock or $14.04 in cash. "Their community banking approach and customer focus is highly consistent with the model that has made us successful. I am confident that their commitment to community banking, delivering exceptional service, and the size and strength of their balance sheet will delight our customers and deliver value to our shareholders,” Douglas C. Manditch, Empire Bancorp Chairman and Chief Executive Officer. On August 3, 2020, the firms have each advised the other they will not exercise their respective rights to terminate the agreement dated October 24, 2019, as amended, as would otherwise be permitted after July 31 by the terms of the merger agreement. Flushing and Empire are engaged in discussions for a longer term extension of time to complete the merger. Flushing Financial received all needed regulatory approvals on September 22, 2020.