Flushing Bank recently released its financial results for the quarter ended March 31, 2025. The bank reported a net income of $20.7 million for the first quarter of 2025, compared to $21.6 million for the fourth quarter of 2024. This represents a decrease of $0.9 million or approximately 4.2%.
Total assets as of March 31, 2025, amounted to $7.6 billion, compared to $7.5 billion as of December 31, 2024. This reflects an increase of $0.1 billion or approximately 1.3%.
The bank's total deposits stood at $5.9 billion as of March 31, 2025, compared to $5.8 billion as of December 31, 2024. This indicates a growth of $0.1 billion or approximately 1.7%.
Furthermore, total loans amounted to $5.1 billion as of March 31, 2025, compared to $5.0 billion as of December 31, 2024. This signifies an increase of $0.1 billion or approximately 2%.
In addition, Flushing Bank reported a net interest income of $58.5 million for the first quarter of 2025, compared to $58.3 million for the fourth quarter of 2024. This shows a slight increase of $0.2 million or approximately 0.3%.
The bank's provision for loan losses was $2.5 million for the first quarter of 2025, compared to $2.3 million for the fourth quarter of 2024, indicating a slight increase of $0.2 million or approximately 8.7%.
These figures depict the changes in key financial metrics for Flushing Bank, showcasing the bank's performance in the first quarter of 2025 compared to the preceding quarter of 2024. As a result of these announcements, the company's shares have moved -3.38% on the market, and are now trading at a price of $12.28. If you want to know more, read the company's complete 8-K report here.
