Flushing Financial ( (FFIC) ) has released its Q1 earnings. Here is a breakdown of the information Flushing Financial presented to its investors.
Flushing Financial Corporation is a New York-based commercial bank that provides a range of financial services, including deposit, loan, and cash management solutions, with a focus on real estate lending. In its first-quarter 2025 earnings report, Flushing Financial Corporation reported a GAAP loss per share of $0.29, primarily due to a $17.6 million non-cash goodwill impairment charge. Despite this, the company saw improvements in its net interest margin, which expanded by 12 basis points on a GAAP basis and 24 basis points on a core basis. Average deposits grew by 6.8% year-over-year, while average loans decreased slightly. The company’s credit quality metrics showed some softening, with an increase in nonperforming assets and criticized loans. However, Flushing Financial maintains strong liquidity with $4.0 billion in undrawn lines and resources. Looking forward, the company remains focused on improving profitability, maintaining credit discipline, and preserving strong liquidity and capital to navigate the current economic environment.