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Flushing Financial Corp. (FFIC)
NASDAQ:FFIC
Earnings Data
Report Date
Apr 29, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.21Last Year’s EPS
0.14Same Quarter Last Year
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 28, 2025
|% Change Since: -0.98%
|Next Earnings Date:Apr 29, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mix of positive and negative aspects. The company demonstrated significant improvements in its net interest margin, asset quality, and liquidity position, which are promising for future profitability. However, the GAAP loss per share and increased criticized loans are concerning. Overall, the positives and negatives appear balanced, with a cautious optimism for the future.Company Guidance
During the Flushing Financial Corporation's fourth-quarter and full-year 2024 conference call, the company provided guidance on various financial metrics and strategic initiatives. The company reported a GAAP net interest margin (NIM) increase of 29 basis points and a core NIM increase of 18 basis points, reaching 2.39% and 2.25% respectively in the fourth quarter. The balance sheet restructuring is expected to further boost the core NIM by 10 to 15 basis points in the first quarter of 2025. Funding costs decreased by 34 basis points, while interest-earning assets declined by only 3 basis points. The company noted a slight decline in the cost of deposits, which fell by 34 basis points during the quarter, and highlighted an 8% year-over-year increase in average deposits. The loan-to-deposit ratio improved to 94% from 101% a year ago, with a focus on shifting the deposit mix to reduce costs. For 2025, Flushing Financial expects core NIM to expand due to CD and loan repricing benefits, with non-interest expenses projected to rise by 5% to 8% from a base of $160 million. The effective tax rate is anticipated to be between 25% and 28% for the year. In terms of credit metrics, the company reported net charge-offs of 11 basis points for 2024, with non-performing assets making up 57 basis points of total assets. The company emphasized maintaining strong liquidity and capital positions, with undrawn lines amounting to $3.6 billion and a tangible common equity ratio improvement to 7.82% quarter-over-quarter.Net Interest Margin (NIM) Improvement
GAAP NIM increased by 29 basis points and core NIM by 18 basis points in Q4 2024. The company expects a further 10 to 15 basis point improvement in core NIM in Q1 2025.
Successful Equity Raise
Completed a $70 million equity raise in December 2024 to restructure the balance sheet and improve net interest income.
Improved Loan-to-Deposit Ratio
The loan-to-deposit ratio improved from 101% a year ago to 94% in Q4 2024.
Stable Asset Quality
Asset quality remained stable, with a tangible common equity ratio improvement quarter-over-quarter.
Strong Liquidity and Capital
Undrawn lines and resources totaled $3.6 billion, with strong regulatory capital ratios and improved tangible common equity.
Multifamily Loan Portfolio Strength
Multifamily loans comprise 38% of gross loans with a low average loan-to-value of 43% and a debt coverage ratio of 1.8 times.
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FFIC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FFIC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 28, 2025 | $14.32 | $14.00 | -2.23% |
| Oct 24, 2024 | $14.89 | $15.10 | +1.41% |
| Jul 29, 2024 | $15.80 | $14.57 | -7.78% |
| Apr 23, 2024 | $11.72 | $11.15 | -4.86% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Flushing Financial Corp. (FFIC) report earnings?
Flushing Financial Corp. (FFIC) is schdueled to report earning on Apr 29, 2025, TBA Not Confirmed.
What is Flushing Financial Corp. (FFIC) earnings time?
Flushing Financial Corp. (FFIC) earnings time is at Apr 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FFIC EPS forecast?
FFIC EPS forecast for the fiscal quarter 2025 (Q1) is 0.21.
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