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Borrowed Funds | 12 Months Ended
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Dec. 31, 2020
Notes to Financial Statements. |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | 10. Borrowed Funds Borrowed funds are summarized as follows at December 31: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2020 | ​ | 2019 |
​ | ​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​ | ​ | Weighted |
​ | ​ | ​ | ​ | ​ | Average | ​ | ​ | ​ | ​ | Average |
​ |  | Amount |  | Rate |  | Amount |  | Rate |
​ |  | (Dollars in thousands) | ​
FHLB-NY advances - fixed rate: |  | ​ |  |  |  |  | ​ |  |  |  | ​
Due in 2020 | ​ | $ | — |  | — | ​ | $ | 727,516 |  | 1.86 | ​
Due in 2021 | ​ |  | 702,515 |  | 0.57 | ​ |  | 200,016 |  | 1.65 | ​
Due in 2022 | ​ |  | 55,685 |  | 0.52 | ​ |  | 175,000 |  | 1.93 | ​
Due in 2023 | ​ |  | 39,001 |  | 0.48 | ​ |  | 15,996 |  | 3.14 | ​
Total FHLB-NY advances | ​ |  | 797,201 |  | 0.56 | ​ |  | 1,118,528 |  | 1.85 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other Borrowings: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Due in 2022 | ​ |  | 90,378 |  | 0.35 | ​ |  | — |  | — | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Subordinated debentures - fixed rate through 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Due in 2025 | ​ | ​ | 15,523 | ​ | 6.12 | ​ | ​ | — | ​ | — | ​
Due in 2026 | ​ | ​ | 74,657 | ​ | 5.27 | ​ | ​ | 74,319 |  | 5.30 | ​
Total Subordinated debentures | ​ |  | 90,180 |  | 5.42 | ​ |  | 74,319 |  | 5.30 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Junior subordinated debentures - adjustable rate Due in 2037 | ​ |  | 43,136 |  | 2.35 | ​ |  | 44,384 |  | 4.65 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total borrowings | ​ | $ | 1,020,895 |  | 1.05 | % | $ | 1,237,231 |  | 2.16 | %
​ The FHLB-NY advances are fixed rate borrowings with no call provisions. The borrowings terms range from one day to five years. At December 31, 2020, the Company was able to borrow up to $3,568.0 million from the FHLB-NY in Federal Home Loan Bank advances and letters of credit. As of December 31, 2020, the Bank had $1,652.6 million outstanding in combined balances of FHLB-NY advances and letters of credit. At December 31, 2020, the Bank also has unsecured lines of credit with other commercial banks totaling $618.0 million, with no outstanding balance. Subordinated Debentures During the year ended December 31, 2016, the Holding Company issued subordinated debt with an aggregated principal amount of $75.0 million. The subordinated debt was issued at 5.25% fixed-to-floating rate maturing in 2026. The debt is fixed-rate for the first five years, after which it resets quarterly. Additionally, the debt is callable at par quarterly through its maturity date beginning December 15, 2021. In the acquisition of Empire, the Company acquired $15.3 million in subordinated debentures. The subordinated debentures the Company hold qualify as Tier 2 capital for regulatory purposes. The following table shows the terms of the subordinated debt issued or acquired by the Holding Company: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Subordinated |  | Subordinated |  | Subordinated |
​ |  | Debentures |  | Debentures |  | Debentures |
​ | ​ | (Dollars in thousands) | ​
Amount | $ | 75,000 | $ | 7,500 | $ | 7,750 | ​
Issue Date |  | December 12, 2016 | ​ | December 17, 2015 | ​ | December 17, 2015 | ​
Initial Rate |  | 5.25 | % | 7.38 | % | 6.50 | %
First Reset Date |  | December 15, 2021 | ​ | N/A | ​ | December 20, 2020 | ​
First Call Date |  | December 15, 2021 | ​ | December 20, 2020 | ​ | December 20, 2020 | ​
Holding Type | ​ | Variable | ​ | Fixed | ​ | Variable | ​
Spread over 3-month LIBOR | ​ | 3.44 | % | N/A | % | 4.88 | %
Maturity Date | ​ | December 15, 2026 | ​ | December 17, 2025 | ​ | December 17, 2025 | ​
​ The subordinated debentures acquired through the acquisition of Empire are callable at any time through the maturity date of December 17, 2025. The subordinated debt issued by the Company may not be redeemed prior to December 15, 2021, except that the Company may redeem the subordinated debt at any time, at its option, in whole but not in part, subject to obtaining any required regulatory approvals, if (i) a change or prospective change in law occurs that could prevent the Company from deducting interest payable on the subordinated debt for U.S. federal income tax purposes, (ii) a subsequent event occurs that precludes the subordinated debt from being recognized as Tier 2 capital for regulatory capital purposes, or (iii) the Company is required to register as an investment company under the Investment Company Act of 1940, as amended, in each case, at a redemption price equal to 100% of the principal amount of the subordinated debt plus any accrued and unpaid interest through, but excluding, the redemption date. Junior Subordinated Debentures The Holding Company has three trusts formed under the laws of the State of Delaware for the purpose of issuing capital and common securities, and investing the proceeds thereof in junior subordinated debentures of the Holding Company. Each of these trusts issued $20.6 million of securities which had a fixed-rate for the first five years, after which they reset quarterly based on a spread over 3-month LIBOR. The securities were first callable at par after five years, and pay cumulative dividends. The Holding Company has guaranteed the payment of these trusts’ obligations under their capital securities. The terms of the junior subordinated debentures are the same as those of the capital securities issued by the trusts. The junior subordinated debentures issued by the Holding Company are carried at fair value in the consolidated financial statements. The table below shows the terms of the securities issued by the trusts. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Flushing Financial |  | Flushing Financial |  | Flushing Financial |
​ |  | Capital Trust II |  | Capital Trust III |  | Capital Trust IV |
Issue Date | ​ | June 20, 2007 | ​ | June 21, 2007 | ​ | July 3, 2007 | ​
Initial Rate | ​ | 7.14 | % | 6.89 | % | 6.85 | %
First Reset Date | ​ | September 01, 2012 | ​ | June 15, 2012 | ​ | July 30, 2012 | ​
Spread over 3-month LIBOR | ​ | 1.41 | % | 1.44 | % | 1.42 | %
Maturity Date | ​ | September 01, 2037 | ​ | September 15, 2037 | ​ | July 30, 2037 | ​
​ The consolidated financial statements do not include the securities issued by the trusts, but rather include the junior subordinated debentures of the Holding Company.

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- Definition The entire disclosure for repurchase agreements (also known as repos), resale agreements (also known as reverse repurchase agreements or reverse repos), securities borrowed transactions, and securities loaned transactions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -URI http://asc.fasb.org/topic&trid=2197590 + Details
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