Flushing Financial Corporation (the "Company") has reported its financial results for the first quarter of 2025. The Company's net income for the quarter was $32.9 million, reflecting a significant increase compared to the previous quarter's net income of $23.7 million. This represents a remarkable 38.8% surge in net income.
Furthermore, the Company's total assets grew to $8.1 billion, showcasing an increase from the prior quarter's total assets of $7.9 billion. This represents a 2.5% rise in total assets.
In terms of deposits, the Company reported total deposits of $6.3 billion for the first quarter of 2025, marking an increase from the previous quarter's total deposits of $6.1 billion. This demonstrates a 3.3% growth in total deposits.
The Company's loan portfolio also exhibited growth, with total loans reaching $5.3 billion in the first quarter of 2025, compared to $5.1 billion in the prior quarter, indicating a 3.9% increase in total loans.
Moreover, the Company reported a net interest margin of 3.24% for the first quarter of 2025, compared to 3.19% in the previous quarter, reflecting a 0.05 percentage point improvement.
As a result of these announcements, the company's shares have moved 0.8% on the market, and are now trading at a price of $12.45. If you want to know more, read the company's complete 8-K report here.
