Arnold & Porter advised Flushing Financial Corporation (Flushing Financial), in connection with its entry into a definitive agreement to acquire Empire National Bank (Empire) in a transaction valued at an estimated $111.6 million.
Flushing Financial is the holding company for Flushing Bank, which serves consumers, businesses, professionals, corporate clients, and public entities by offering a full complement of services through banking offices in Queens, Brooklyn, Manhattan and on Long Island. Its acquisition of Empire, a Long Island-based independent bank that provides financial services for privately-owned small and medium-sized businesses, will expand its Long Island presence and commercial offerings.
The Arnold & Porter transaction team was led by partner Rob Azarow, who heads the firm's Financial Institutions Mergers and Acquisitions practice and co-heads the Capital Markets Transactions practice. The team also included Corporate & Finance counsel Stephanie Nygard and associates Naomi Hartman, Eric An, Brandon Einstein; Financial Services partner Michael Mancusi and associate Anthony Raglani; Executive Compensation counsel Kathleen Wechter and senior associate Megan Juel; and Tax partner Laurie Abramowitz and senior associate Sarah Soloveichik.