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John R. Buran Elected to Board of Directors of the Federal Home Loan Bank of New York

NEW YORK, Nov. 18, 2010 – NEW YORK, Nov. 18, 2010 /PRNewswire-USNewswire/ -- The Federal Home Loan Bank of New York ("FHLBNY") announced today that John R. Buran, president and chief executive officer of Flushing Financial Corporation, was elected by the Board of Directors to serve as a Member Director representing the interests of the FHLBNY's New York membership beginning December 1, 2010. љMr. Buran will be filling the remaining portion of the term of office of the late John M. Scarchilli, the former president and chief executive officer of Pioneer Savings Bank.

Earlier this month, Mr. Buran was elected by the FHLBNY's New York membership to serve as Member Director for a term on the Board beginning January 1, 2011 and running through December 31, 2011.

"The strength of our Board is one of the things we pride ourselves on," said Alfred A. DelliBovi, president and chief executive officer of the FHLBNY. љ"John brings more than 30 years of community banking experience with him, and in his new role he will help the FHLBNY continue its mission of providing a stable source of funding for the local lender."

Mr. Buran is a director, president and chief executive officer of Flushing Financial Corporation, holding company for FHLBNY member Flushing Savings Bank and FHLBNY member Flushing Commercial Bank. љHe joined Flushing Savings Bank in 2001 as chief operating officer and became a director of the savings bank and holding company in 2003. љIn 2005, he was named president and chief executive officer of both the bank and the holding company.

Mr. Buran's career began with Citibank in 1977, where he held a variety of management positions including business manager of Citibank's retail distribution in Westchester, Long Island and Manhattan and vice president in charge of Citibank's Investment Sales Division. љ

Mr. Buran left Citibank to become senior vice president, division head for Retail Services of NatWest Bank, and later executive vice president of Fleet Bank's (now Bank of America) retail branch system in New York City, Long Island, Westchester and Southern Connecticut. љHe also spent time as a consultant and assistant to the president of Carver Federal Savings Bank, the nation's largest minority controlled bank. љIn addition, Mr. Buran serves on the Board of Trustees of St. Joseph's College, where he is a member of the Finance, and Nominating Committees. He also serves as Audit Committee chairman and is former Board president of Neighborhood Housing Services of New York City. љHe is a Board member of The Korean American Youth Foundation. љHe is also currently vice chairman of the New York Bankers Association as well as the chairman of New York Bankers Service Corporation.

Mr. Buran received both his B.S. degree in Management and an MBA from New York University.

About the Federal Home Loan Bank of New York

The FHLBNY is a Congressionally-chartered wholesale bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 12 regional, stockholder-owned banks. The FHLBNY currently serves financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The mission of the FHLBNY is to support the efforts of local members to make home mortgages to families of all income levels and provide credit to spur community growth.

CONTACT: Eric Amig

(212) 441-6807

Brian Finnegan

(212) 441-6877

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