FLUSHING FINANCIAL CORP has recently released its 10-Q report, providing a detailed look into its financial performance. The company operates as the bank holding company for Flushing Bank, offering various deposit products, mortgage loans, small business loans, and consumer loans. Flushing Financial Corporation operates full-service banking offices in New York and an internet branch under the iGObanking and BankPurely brands. The company's principal business is attracting retail deposits and investing those deposits in various loans and securities, primarily in multi-family residential loans, commercial business loans, and mortgage-backed securities.
In the most recent quarter, Flushing Financial Corp reported a net income of $14.2 million, or $0.41 per diluted common share, marking a significant increase from the net income of $5.3 million, or $0.18 per diluted common share, in the same period last year. The net interest margin increased to 2.54% from 2.05% in the prior year period, and the provision for credit losses increased to $4.2 million from $0.8 million in the same quarter last year.
For the six months ended June 30, 2025, the company reported a net income of $4.4 million, a decrease of 51.1% from the $9.0 million reported in the same period last year. Interest and dividend income increased by 3.7% to $117.4 million, and non-interest income increased by 143.8% to $10.3 million in the most recent quarter compared to the same period last year.
The company's interest expense decreased by 8.9% to $64.2 million, and the net interest income increased by 24.4% to $53.2 million for the three months ended June 30, 2025, compared to the same period last year. Flushing Financial Corp also reported an increase in non-interest expense by 3.4% to $40.4 million in the most recent quarter.
Following these announcements, the company's shares moved -0.08%, and are now trading at a price of $11.98. For more information, read the company's full 10-Q submission here.
