UNIONDALE, N.Y., April 14, 2016 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq:FFIC), the parent holding company for Flushing Bank (the “Bank”), announced today that the Bank has selected Vanguard Software Group’s LoanVantage to fully automate and enhance its commercial loan analysis, underwriting, review and management. Integrated with our FIS Miser core processing system, LoanVantage will allow Flushing Bank to standardize its commercial loan processes including loan requests, financial analysis, underwriting and loan review and automate the management of its growing commercial loan portfolio.
“We are pleased to choose LoanVantage and work with Vanguard Software Group, a partner that is uniquely positioned to deliver seamless and flexible commercial lending automation. Leveraging technology to gain efficiencies and deliver a superior customer experience is an integral part of our growth strategy. We recognize it is imperative to keep pace with advancements in the marketplace and adapt to stay current with evolving trends to remain competitive." said John R. Buran, President and Chief Executive Officer of Flushing Bank. “Given our shared philosophy of exceeding customer expectations, we are confident that Vanguard’s end to end, loan lifecycle solution will help us surpass this goal. Working with Vanguard Software Group and their active User Group, we will have significant input into future functionality and new product introductions to ensure that LoanVantage’s robust, flexible platform will contribute to our ongoing success.”
Vanguard Software Group has made its mark on the bank technology market in recent years by forming partnerships with a growing number of financial institutions across the country. As innovators in Commercial Loan automation, Vanguard Software Group is a key partner of its Banks and Credit Unions. Commercial lending is an important strategic initiative for these customers and LoanVantage’s ability to deliver commercial loan lifecycle management enables them to improve their current processes and expand their market share.
“We are honored that Flushing Bank has chosen LoanVantage and pleased that they are already contributing to our User Group. The input from our client partners enables us to constantly improve the delivery of our industry leading commercial lending analytics, underwriting, review and management solution and better serve our customers,” said Mark Hill, President and CEO of Vanguard Software Group. “Automating the complete commercial loan lifecycle and satisfying every one of our customer’s needs is our top priority.”
About Flushing Financial Corporation
Flushing Financial Corporation (Nasdaq:FFIC) is the holding company for Flushing Bank®, a New York State-chartered commercial bank insured by the Federal Deposit Insurance Corporation. The Bank serves consumers, businesses, professionals, corporate clients, and public entities by offering a full complement of deposit, loan, and cash management services through its 19 banking offices located in Queens, Brooklyn, Manhattan, and Nassau County. As a leader in real estate lending, the Bank’s experienced lending team creates mortgage solutions for real estate owners and property managers both within and outside the New York City metropolitan area. The Bank also operates an online banking division, iGObanking.com®, which offers competitively priced deposit products to consumers nationwide. Additional information on Flushing Bank and Flushing Financial Corporation may be obtained by visiting the Company’s website at http://www.flushingbank.com.
About Vanguard Software Group –
Vanguard Software Group is dedicated to building industry leading software for the commercial lending industry and delivering Commercial Loan Lifecycle Management to our Banks and Credit Unions. Since 2006, Vanguard Software Group has developed robust solutions for commercial lending working directly with our client partners and focused on differentiating each and every one of them from their competition. Vanguard Software Group’s passion is collaborating with our client partners to develop systems that significantly improve the efficiencies, output, analytics and accuracy in all areas of commercial lending. For more information, please contact John Bagdon at john.bagdon@vsgsolutions.com or at 407.475.0005 x1013.
“Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this Press Release that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors discussed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2015 and in other documents filed by the Company with the Securities and Exchange Commission from time to time. Forward-looking statements may be identified by terms such as "may", "will", "should", "could", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "forecasts", "potential" or "continue" or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The Company has no obligation to update these forward-looking statements.