For the quarter ended September 2024, Flushing Financial (FFIC) reported revenue of $51.88 million, up 8.3% over the same period last year. EPS came in at $0.26, compared to $0.31 in the year-ago quarter.The reported revenue represents a surprise of +9.34% over the Zacks Consensus Estimate of $47.45 million. With the consensus EPS estimate being $0.18, the EPS surprise was +44.44%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to det ...

Flushing Financial (FFIC) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.18 per share. This compares to earnings of $0.31 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 44.44%. A quarter ago, it was expected that this holding company for Flushing Bank would post earnings of $0.18 per share when it actually produced earnings of $0.18, delivering no surprise.Over the last four qu ...

Flushing Financial (FFIC) reported $46.99 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 3.1%. EPS of $0.18 for the same period compares to $0.26 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $46.96 million, representing a surprise of +0.08%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.18. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...

Flushing Financial (FFIC) came out with quarterly earnings of $0.18 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.26 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this holding company for Flushing Bank would post earnings of $0.15 per share when it actually produced earnings of $0.14, delivering a surprise of -6.67%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. ...

Exhibit 99.1 "Our long-term success is derived from executing against the four focus areas we outlined in 2023. For the quarter, GAAP and Core NIM declined 1 and 3 bps, respectively. As loan originations were less than paydowns, we purchased adjustable-rate securities, which led to net interest income increasing 0.9% QoQ. We anticipate the loan pipeline, which increased approximately 88% QoQ, will help to stabilize NIM, which is our first area of focus. Our second area of focus is credit quality, which rema ...

The earnings are definitely under pressure On top of that, the bank recorded a $0.8M loss related to the fair value adjustments of certain items, which wasn't very helpful either as FFIC was able to record a $2.6M gain in that segment in Q1 2023. All these elements combined resulted in a decrease of the non-interest income to just $3.1M, while the non-interest expenses increased by almost 2% to $39.9M. The silver lining is the substantial decrease of the loan loss provisions. As the income statement (shown ...

0 i 1 Margin Likely to Stabilize Going forward, I'm expecting the deposit migration to pause because I'm anticipating interest rate cuts, which will reduce the attractiveness of interest-bearing accounts relative to non-interest-bearing accounts. As a result, I'm expecting the pressure on the margin to wane. Holding the balance sheet constant, the anticipated interest rate cuts will have a negligible direct impact on the margin. This is because of the characteristics of loans and deposits, which make the ba ...

Investors in Flushing Financial Corporation (FFIC) need to pay close attention to the stock based on moves in the options market lately. That is because the Jul 19, 2024 $185.00 Call had some of the highest implied volatility of all equity options today. Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there ...

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, 2024 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 ...

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]