Lake Success-based Flushing Financial Corp. said it would combine its Flushing Savings Bank and its commercial banking subsidiary, to reduce costs. "There'll be no discernible impact on the consumer," said John R. Buran, president and chief executive. "We'll still be offering the same products to consumers and businesses."

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Flushing has 17 branches, most of them in Brooklyn and Queens, one in Manhattan and two in Nassau County. The bank said Thursday it had filed an application with the New York State Department of Financial Services to combine Flushing Savings Bank with Flushing Commercial Bank and rename the combined entity Flushing Bank. That will have the effect of converting the bank from a federally-chartered savings bank to a New York State-chartered commercial bank.

The transaction is expected to close in the fourth quarter of this year or the first quarter of 2013. Flushing Financial Corp. has $4.4 billion in consolidated assets.