Flushing Financial Corporation Reports 1Q24 GAAP and Core EPS of $0.12 and $0.14, Respectively; Excellent Quality Driven by Low Risk Credit Profile [Yahoo! Finance]
Flushing Financial Corporation (FFIC)
Last flushing financial corporation earnings: 4/28 05:30 pm
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US:NASDAQ Investor Relations:
flushingbank.com/about-us/investor-relations.html
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Source: Yahoo! Finance
While there have been increased concerns about commercial real estate loans, especially New York City office and rent regulated multifamily exposure, hallmarks of our risk averse credit culture are demonstrated by only $4,000 of net charge-offs, 24 bps of 30-89 day delinquencies to gross loans, and decreased criticized and classified loans of 23% and flat NPAs during 1Q24. The drivers of this excellent credit performance are centered in our conservative underwriting with 89% of the portfolio secured by real estate, average LTV ratios of less than 36%, multifamily and investor commercial real estate weighted average DCRs of 1.8x, and strong sponsor support. Our exposure to New York City office buildings is very low - approximately 0.5% of total loans, all of which are performing. Our multifamily portfolio has only 18 bps of NPLs, 41 bps of 30-89 day delinquencies, and 54 bps of criticized and classified loans. Additionally, over 99% of our real estate loans that repriced in 1Q24 are cu
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FFIC
News
- Flushing Financial Co. (NASDAQ: FFIC) had its price target lowered by analysts at Keefe, Bruyette & Woods from $14.00 to $13.00. They now have a "market perform" rating on the stock.MarketBeat
- Flushing Financial Corporation Just Missed Earnings - But Analysts Have Updated Their Models [Yahoo! Finance]Yahoo! Finance
- Flushing Financial Co. (NASDAQ: FFIC) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Flushing Financial Corporation (NASDAQ:FFIC) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Flushing Financial First Quarter 2024 Earnings: Misses Expectations [Yahoo! Finance]Yahoo! Finance
FFIC
Earnings
- 4/23/24 - Miss
FFIC
Sec Filings
- 5/3/24 - Form 4
- 4/24/24 - Form 8-K
- 4/24/24 - Form 8-K
- FFIC's page on the SEC website