Financial Data and Key Metrics Changes - The company reported first quarter 2024 GAAP EPS of $0.12 and core EPS of $0.14, with net interest margin (NIM) declining 23 and 25 basis points to 2.06% [35][13] - Average deposits increased 4% year-over-year and 3% quarter-over-quarter, with average CDs increasing 3% quarter-over-quarter to $2.4 billion [14][15] - The tangible common equity ratio decreased by 24 basis points quarter-over-quarter to 7.4% due to a $300 million increase in securities [109] Business Line Data and Key Metrics Changes - The multifamily portfolio, the largest segment, has a weighted average loan-to-value (LTV) of 45% and a debt coverage ratio of 1.8 times, with minimal credit issues [11][5] - The office portfolio comprises less than 4% of loans, with a weighted average LTV of 49% and debt coverage ratios of two times [37] - The company purchased a residential mortgage pool of approximately $50 million, which is expected to benefit NIM in the second quarter [7] Market Data and Key Metrics Changes - The Asian markets account for a third of the branches, with over $1.3 billion in deposits and $746 million in loans, representing 18% of total deposits [16][17] - The company has a 3% market share in a $41 billion market, indicating substantial growth potential [16] Company Strategy and Development Direction - The company aims to increase NIM and reduce volatility, maintaining a low-risk credit profile while focusing on capital and liquidity [21][43] - The management is prepared to sacrifice volume to ensure favorable spreads and is incentivizing sales of non-interest bearing checking accounts [20] - Community involvement is emphasized as part of the strategy, with participation in local events to strengthen customer ties [99] Management's Comments on Operating Environment and Future Outlook - The operating environment was affected by rising yields, weak loan demand, and negative activity from a major competitor, which presents unique opportunities for the company [9] - Management expects NIM to start expanding in the second half of 2024, driven by loan originations and repricing of CDs [18][125] - The company maintains a conservative underwriting approach, with strong debt coverage ratios and minimal credit issues [10][121] Other Important Information - The company has $1.7 billion of interest rate hedges, which help mitigate NIM compression from rising rates [39] - The allowance for credit losses to loans ratio increased slightly to 60 basis points during the quarter, reflecting a strong credit risk profile [122] Q&A Session Summary Question: Will the margin be flat in the second quarter and then expand in the back half of the year? - Management indicated that the margin is expected to be flat in the second quarter, with potential expansion in the latter half of the year [26] Question: With the stock trading at about 50% of book value, should the company consider shrinking the balance sheet and buying back stock? - Management acknowledged the point and mentioned maintaining credit levels while waiting for better lending opportunities [29] Question: What are the expectations for fee income and swap activity in the upcoming quarters? - Management noted that swap activity is expected to continue, with a focus on adjustable loans [53] Question: How is the loan pipeline developing? - The loan pipeline has been growing month by month, with a focus on strict credit criteria while seeking improved yields [58] Question: What is the impact of multifamily policy on the company? - Management expressed cautious optimism regarding potential impacts, noting that more extreme legislative measures appear to be less likely [84]

For the quarter ended March 2024, Flushing Financial (FFIC) reported revenue of $45.48 million, down 12.8% over the same period last year. EPS came in at $0.14, compared to $0.10 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $47.12 million, representing a surprise of -3.48%. The company delivered an EPS surprise of -6.67%, with the consensus EPS estimate being $0.15.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wal ...

Exhibit 99.1 John R. Buran, President and CEO Commentary Flushing Financial Corporation Reports 1Q24 GAAP and Core EPS of $0.12 and $0.14, Respectively; Excellent Quality Driven by Low Risk Credit Profile "We take pride in what we believe is our low risk credit profile that has performed well over our 95-year history. While there have been increased concerns about commercial real estate loans, especially New York City office and rent regulated multifamily exposure, hallmarks of our risk averse credit cultur ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 Commission file number 001-33013 FLUSHING FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Delaware 11-3209278 (I.R.S. Employer Identification No.) (State or other jurisdiction of incorporation or organization) 220 RXR Plaza, Uniondale, New York 11556 (Ad ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 Commission file number 001-33013 FLUSHING FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 11-3209278 (I.R.S. Employer Identification No.) 220 RXR Plaza, Uniondale, New York ...

November 1, 2023 "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this Presentation relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities E ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 Commission file number 001-33013 FLUSHING FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 11-3209278 (I.R.S. Employer Identification No.) 220 RXR Plaza, Uniondale, New York 11556 ...

Flushing Financial Corporation (NASDAQ:FFIC) Q2 2023 Earnings Call Transcript July 26, 2023 9:30 AM ET Company Participants John Buran - President & CEO Susan Cullen - Senior EVP, CFO, & Treasurer Conference Call Participants Mark Fitzgibbon - Piper Sandler Christopher O'Connell - KBW Manuel Navas - D.A. Davidson Operator Good day and welcome to the Flushing Financial Corporation Second Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s ...

July 26, 2023 "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this Presentation relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exch ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 Commission file number 001-33013 FLUSHING FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 11-3209278 (I.R.S. Employer Identification No.) 220 RXR Plaza, Uniondale, New York 1155 ...