XML 59 R46.htm IDEA: XBRL DOCUMENT
v3.20.4

Pension and Other Postretirement Benefit Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Notes Tables |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Net Actuarial | ​ | Prior Service | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Loss (Gain) | ​ | Cost (Credit) | ​ | Total
​ |  | 2020 |  | 2019 |  | 2018 |  | 2020 |  | 2019 |  | 2018 |  | 2020 |  | 2019 |  | 2018
​ | ​ | (In thousands)
Employee Retirement Plan | ​ | $ | 1,775 | ​ | $ | 2,273 | ​ | $ | 3,238 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 1,775 | ​ | $ | 2,273 | ​ | $ | 3,238
Other Postretirement Benefit Plans | ​ |  | 1,333 | ​ |  | (265) | ​ |  | 35 | ​ |  | (112) | ​ |  | (198) | ​ |  | (283) | ​ |  | 1,221 | ​ |  | (463) | ​ |  | (248)
Outside Directors Plan | ​ |  | (274) | ​ |  | (380) | ​ |  | (566) | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (274) | ​ |  | (380) | ​ |  | (566)
Total | ​ | $ | 2,834 | ​ | $ | 1,628 | ​ | $ | 2,707 | ​ | $ | (112) | ​ | $ | (198) | ​ | $ | (283) | ​ | $ | 2,722 | ​ | $ | 1,430 | ​ | $ | 2,424
Schedule of Net Funded Status [Table Text Block] | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019
​ | ​ | (In thousands)
Change in benefit obligation: |  | ​ |  |  | ​ |
Projected benefit obligation at beginning of year | ​ | $ | 22,443 | ​ | $ | 20,344
Interest cost | ​ |  | 652 | ​ |  | 797
Actuarial loss | ​ |  | 2,109 | ​ |  | 2,265
Benefits paid | ​ |  | (977) | ​ |  | (963)
Projected benefit obligation at end of year | ​ |  | 24,227 | ​ |  | 22,443
​ | ​ | ​ | ​ | ​ | ​ | ​
Change in plan assets: | ​ |  |  | ​ |  |
Market value of assets at beginning of year | ​ |  | 25,505 | ​ |  | 22,419
Actual return on plan assets | ​ |  | 3,192 | ​ |  | 4,049
Benefits paid | ​ |  | (977) | ​ |  | (963)
Market value of plan assets at end of year | ​ |  | 27,720 | ​ |  | 25,505
​ | ​ | ​ | ​ | ​ | ​ | ​
Accrued pension asset included in other assets | ​ | $ | 3,493 | ​ | $ | 3,062
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019
​ | ​ | (In thousands)
Change in benefit obligation: |  | ​ |  |  | ​ |
Projected benefit obligation at beginning of year | ​ | $ | 8,762 | ​ | $ | 8,518
Service cost | ​ |  | 274 | ​ |  | 280
Interest cost | ​ |  | 259 | ​ |  | 341
Actuarial gain | ​ |  | 1,599 | ​ |  | (301)
Benefits paid | ​ |  | (95) | ​ |  | (76)
Projected benefit obligation at end of year | ​ |  | 10,799 | ​ |  | 8,762
​ | ​ | ​ | ​ | ​ | ​ | ​
Change in plan assets: | ​ |  |  | ​ |  |
Market value of assets at beginning of year | ​ |  | — | ​ |  | —
Employer contributions | ​ |  | 95 | ​ |  | 76
Benefits paid | ​ |  | (95) | ​ |  | (76)
Market value of plan assets at end of year | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​
Accrued pension cost included in other liabilities | ​ | $ | 10,799 | ​ | $ | 8,762
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019
​ | ​ | (In thousands)
Change in benefit obligation: |  | ​ |  |  | ​ |
Projected benefit obligation at beginning of year | ​ | $ | 2,290 | ​ | $ | 2,265
Service cost | ​ |  | 15 | ​ |  | 39
Interest cost | ​ |  | 64 | ​ |  | 86
Actuarial loss | ​ |  | 51 | ​ |  | 44
Benefits paid | ​ |  | (144) | ​ |  | (144)
Projected benefit obligation at end of year | ​ |  | 2,276 | ​ |  | 2,290
​ | ​ | ​ | ​ | ​ | ​ | ​
Change in plan assets: | ​ |  |  | ​ |  |
Market value of assets at beginning of year | ​ |  | — | ​ |  | —
Employer contributions | ​ |  | 144 | ​ |  | 144
Benefits paid | ​ |  | (144) | ​ |  | (144)
Market value of plan assets at end of year | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​
Accrued pension cost included in other liabilities | ​ | $ | 2,276 | ​ | $ | 2,290
Schedule of Assumptions Used [Table Text Block] | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019 |
Weighted average discount rate |  | 2.18 | % | 3.00 | %
Rate of increase in future compensation levels |  | n/a |  | n/a | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019 |  | 2018 |
Weighted average discount rate |  | 3.00 | % | 4.06 | % | 3.42 | %
Rate of increase in future compensation levels |  | n/a |  | n/a |  | n/a | ​
Expected long-term rate of return on assets |  | 4.75 | % | 5.25 | % | 7.00 | %
​
​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019 |
Discount rate |  | 2.18 | % | 3.00 | %
Rate of increase in health care costs |  |  |  |  | ​
Initial |  | 7.50 | % | 7.50 | %
Ultimate (year 2026) |  | 5.00 | % | 5.00 | %
Annual rate of salary increase for life insurance |  | n/a |  | n/a | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019 |  | 2018 |
Rate of return on plan assets |  | n/a |  | n/a |  | n/a | ​
Discount rate |  | 3.00 | % | 4.06 | % | 3.42 | %
Rate of increase in health care costs |  |  |  |  |  |  | ​
Initial |  | 7.50 | % | 7.00 | % | 7.00 | %
Ultimate (year 2026) |  | 5.00 | % | 5.00 | % | 5.00 | %
Annual rate of salary increase for life insurance |  | n/a |  | n/a |  | n/a | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019 |  | 2018 |
Weighted average discount rate for the benefit obligation |  | 2.18 | % | 3.00 | % | 4.06 | %
Weighted average discount rate for periodic pension benefit expense |  | 3.00 | % | 4.06 | % | 3.42 | %
Rate of increase in future compensation levels |  | n/a |  | n/a |  | n/a | ​
Schedule of net expense for the pension and other postretirement benefit plans | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019 |  | 2018
​ | ​ | (In thousands)
Interest cost | ​ | $ | 652 | ​ | $ | 797 | ​ | $ | 781
Amortization of unrecognized loss | ​ |  | 444 | ​ |  | 269 | ​ |  | 621
Expected return on plan assets | ​ |  | (1,028) | ​ |  | (1,088) | ​ |  | (1,452)
Net pension (benefit) expense | ​ |  | 68 | ​ |  | (22) | ​ |  | (50)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current year actuarial gain | ​ |  | (54) | ​ |  | (696) | ​ |  | (2,307)
Amortization of actuarial loss | ​ |  | (444) | ​ |  | (269) | ​ |  | (621)
Total recognized in other comprehensive income | ​ |  | (498) | ​ |  | (965) | ​ |  | (2,928)
Total recognized in net pension benefit and other comprehensive loss | ​ | $ | (430) | ​ | $ | (987) | ​ | $ | (2,978)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019 |  | 2018
​ | ​ | (In thousands)
Service cost | ​ | $ | 274 | ​ | $ | 280 | ​ | $ | 350
Interest cost | ​ |  | 259 | ​ |  | 341 | ​ |  | 307
Amortization of unrecognized loss | ​ |  | — | ​ |  | — | ​ |  | 33
Amortization of past service credit | ​ |  | (85) | ​ |  | (85) | ​ |  | (85)
Net postretirement benefit expense | ​ |  | 448 | ​ |  | 536 | ​ |  | 605
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current year actuarial (gain) loss | ​ |  | 1,599 | ​ |  | (301) | ​ |  | (1,155)
Amortization of actuarial loss | ​ |  | — | ​ |  | — | ​ |  | (33)
Amortization of prior service credit | ​ |  | 85 | ​ |  | 85 | ​ |  | 85
Total recognized in other comprehensive income | ​ |  | 1,684 | ​ |  | (216) | ​ |  | (1,103)
Total recognized in net postretirement expense and other comprehensive loss | ​ | $ | 2,132 | ​ | $ | 320 | ​ | $ | (498)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019 |  | 2018
​ | ​ | (In thousands)
Service cost | ​ | $ | 15 | ​ | $ | 39 | ​ | $ | 42
Interest cost | ​ |  | 64 | ​ |  | 86 | ​ |  | 78
Amortization of unrecognized gain | ​ |  | (55) | ​ |  | (141) | ​ |  | (91)
Amortization of past service liability | ​ |  | — | ​ |  | — | ​ |  | 12
Net pension expense | ​ |  | 24 | ​ |  | (16) | ​ |  | 41
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current actuarial (gain) loss | ​ |  | 51 | ​ |  | 44 | ​ |  | (184)
Amortization of actuarial gain | ​ |  | 55 | ​ |  | 141 | ​ |  | 91
Amortization of prior service cost | ​ |  | — | ​ |  | — | ​ |  | (12)
Total recognized in other comprehensive income | ​ |  | 106 | ​ |  | 185 | ​ |  | (105)
Total recognized in net pension expense and other comprehensive income | ​ | $ | 130 | ​ | $ | 169 | ​ | $ | (64)
Schedule of Expected Benefit Payments [Table Text Block] | ​
​ | ​ | ​ | ​
​ |  | Future Benefit
​ | ​ | Payments
​ | ​ | (In thousands)
2021 | ​ | $ | 1,386
2022 | ​ |  | 1,231
2023 | ​ |  | 1,247
2024 | ​ |  | 1,228
2025 | ​ |  | 1,214
2026-2030 | ​ |  | 6,020
​
​ | ​ | ​ | ​
​ |  | Future Benefit
​ | ​ | Payments
​ | ​ | (In thousands)
2021 | ​ | $ | 255
2022 | ​ |  | 299
2023 | ​ |  | 310
2024 | ​ |  | 315
2025 | ​ |  | 333
2026-2030 | ​ |  | 2,029
​
​ | ​ | ​ | ​
​ |  | Future Benefit
​ | ​ | Payments
​ | ​ | (In thousands)
2021 | ​ | $ | 288
2022 | ​ |  | 288
2023 | ​ |  | 256
2024 | ​ |  | 220
2025 | ​ |  | 192
2026 - 2030 | ​ |  | 736
Schedule of Allocation of Plan Assets [Table Text Block] | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019 |
Equity securities |  | — | % | — | %
Debt securities |  | 100 | % | 100 | %
Schedule of Changes in Fair Value of Plan Assets [Table Text Block] | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At December 31,
​ |  | 2020 |  | 2019
​ | ​ | (In thousands)
Pooled Separate Accounts |  | ​ |  |  | ​ |
Long duration bond fund (a) | ​ | $ | 12,229 | ​ | $ | 11,242
Long corporate bond fund (b) | ​ |  | 5,587 | ​ |  | 5,069
Prudential short term (c) | ​ |  | 286 | ​ |  | 403
Mutual Fund | ​ |  |  | ​ |  |
Investment grade bond fund (d) | ​ |  | 9,618 | ​ |  | 8,791
​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 27,720 | ​ | $ | 25,505
a. | Comprised of fixed income securities with durations of longer than six years that seek to maximize total return consistent with the preservation of capital and prudent investment management.
b. | Comprised of corporate bonds with an average duration within 0.25 years of the benchmark and its average credit quality is no lower than BBB. The fund seeks to outperform the Bloomberg Barclays Long Corporate Bond Index.
c. | Comprised of money market instruments with an emphasis on safety and liquidity.
d. | Comprised of high quality corporate bonds diversified broadly across industries, issuers and regions. The funds primary benchmark is the Bloomberg Barclays U.S. Credit Index.
Schedule of Employee Benefit Trust Shares [Table Text Block] | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019
Shares owned by Employee Benefit Trust, beginning balance |  | ​ | 181,611 |  | ​ | 329,090
Shares purchased |  | ​ | 3,697 |  | ​ | 7,267
Shares released and allocated |  | ​ | (145,447) |  | ​ | (154,746)
Shares owned by Employee Benefit Trust, ending balance |  | ​ | 39,861 |  | ​ | 181,611
​ | ​ | ​ | ​ | ​ | ​ | ​
Market value of unallocated shares | ​ | $ | 663,287 | ​ | $ | 3,924,614

X
- Definition Tabular disclosure of the Employee Benefit Trust (EBT) shares. + References No definition available. + Details
Name: | ffic_ScheduleOfEmployeeBenefitTrustSharesTableTextBlock
Namespace Prefix: | ffic_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of net funded status of pension plans and/or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetFundedStatusTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_TableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration