An investigation on behalf of investors, who currently hold shares of Empire Bancorp, Inc. (OTC: EMPK), was announced concerning whether the takeover of Empire Bancorp, Inc. (OTC: EMPK) is unfair to OTC: EMPK stockholders.

The investigation by a law firm concerns whether certain officers and directors of Empire Bancorp, Inc. (OTC: EMPK breached their fiduciary duties owed to Empire Bancorp, Inc. (OTC: EMPK investors in connection with the proposed acquisition.

Islandia, NY based Empire Bancorp, Inc. operates as the bank holding company for Empire National Bank that provides various banking products and services primarily in New York.

On October 25, 2019 Flushing Financial Corporation ( Flushing) (Nasdaq: FFIC), the parent holding company for Flushing Bank, and Empire Bancorp, Inc. (Empire) (OTC: EMPK), the parent holding company for Empire National Bank, announced today that they have entered into a merger agreement for Flushing to acquire Empire in a transaction valued at an estimated $111.6 million, based on Flushings closing stock price on October 24, 2019. Under the terms of the merger agreement, each share of Empire common stock will be exchanged for either 0.6548 shares of Flushing common stock or $14.04 in cash.

However, the investigation concerns whether the offer is unfair to OTC: EMPK stockholders. More specifically, the investigation concerns whether the Empire Bancorp Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.