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Flushing Financial Corporation operates as the bank holding company for Flushing Bank that provides banking products and services primarily to consumers, businesses, and governmental units. It offers various deposit products, including checking and savings accounts, money market accounts, non-interest bearing demand accounts, NOW accounts, and certificates of deposit. The company provides mortgage loans secured by multi-family residential, commercial real estate, one-to-four family mixed-use property, one-to-four family residential property, and commercial business loans; construction loans; small business administration loans and other small business loans; mortgage loan surrogates, such as mortgage-backed securities; and consumer loans, including overdraft lines of credit, as well as the United States government securities, corporate fixed-income securities, and other marketable securities. It operates full-service banking offices in Queens, Nassau, Suffolk, Kings, and New York counties; and an internet branch under the iGObanking and BankPurely brands. Flushing Financial Corporation was founded in 1929 and is based in Uniondale, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $239M | - | $19M | $56M | 2.7% | 91.5% | - |
| 2024 | $125M | - | $-31M | $10M | -4.3% | -38.2% | -209.3% |
| 2023 | $202M | - | $29M | $29M | 4.3% | -20.5% | -62.7% |
| 2022 | $254M | - | $77M | $81M | 11.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 253.62 | 201.74 | 124.74 | 238.93 |
| Pretax Income | 104.85 | 39.83 | -48.27 | 34.52 |
| Tax Provision | 27.91 | 11.17 | -16.93 | 15.64 |
| Net Income | 76.94 | 28.66 | -31.33 | 18.88 |
| Net Income Common Stockholders | 76.94 | 28.32 | -31.72 | 18.38 |
| Interest Expense | 73.01 | 222.32 | 283.35 | 250.70 |
| Interest Income | 316.57 | 401.35 | 465.23 | 466.12 |
| Selling General And Administration | 86.63 | 89.95 | 97.69 | 102.08 |
| Normalized Income | 76.87 | 28.66 | -29.78 | 32.81 |
| Basic EPS | 2.50 | 0.96 | -1.05 | 0.54 |
| Diluted EPS | 2.50 | 0.96 | -1.05 | 0.54 |
| Tax Effect Of Unusual Items | 0.03 | 0 | -0.84 | -3.70 |
| Tax Rate For Calcs | 0.27 | 0.28 | 0.35 | 0.21 |
| Total Unusual Items | 0.10 | 0 | -2.40 | -17.64 |
| Total Unusual Items Excluding Goodwill | 0.10 | 0 | -2.40 | -17.64 |
| Net Income From Continuing Operation Net Minority Interest | 76.94 | 28.66 | -31.33 | 18.88 |
| Reconciled Depreciation | 6.47 | 6.45 | 6.14 | 5.69 |
| Net Interest Income | 243.56 | 179.03 | 181.88 | 215.42 |
| Net Income From Continuing And Discontinued Operation | 76.94 | 28.66 | -31.33 | 18.88 |
| Diluted Average Shares | 30.82 | 29.93 | 29.95 | 33.94 |
| Basic Average Shares | 30.82 | 29.93 | 29.95 | 33.94 |
| Diluted NI Availto Com Stockholders | 76.94 | 28.32 | -31.72 | 18.38 |
| Otherunder Preferred Stock Dividend | 0 | 0.34 | 0.39 | 0.50 |
| Net Income Including Noncontrolling Interests | 76.94 | 28.66 | -31.33 | 18.88 |
| Net Income Continuous Operations | 76.94 | 28.66 | -31.33 | 18.88 |
| Special Income Charges | 0 | 0 | -2.57 | -17.64 |
| Other Special Charges | 0 | 0 | 2.57 | 0 |
| Impairment Of Capital Assets | 0 | 0 | 0 | 17.64 |
| Gain On Sale Of Security | -5.22 | 2.57 | -73.25 | -1.60 |
| Depreciation Amortization Depletion Income Statement | 5.93 | 5.96 | 5.73 | 5.34 |
| Depreciation And Amortization In Income Statement | 5.93 | 5.96 | 5.73 | 5.34 |
| Depreciation Income Statement | 5.93 | 5.96 | 5.73 | 5.34 |
| General And Administrative Expense | 86.63 | 89.95 | 97.69 | 102.08 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 2.26 | 3.99 | 6.30 | 5.63 |
| Salaries And Wages | 84.37 | 85.96 | 91.40 | 96.45 |
| Operating Revenue | 253.62 | 201.74 | 124.74 | 238.93 |
| Occupancy And Equipment | 14.61 | 14.40 | 15.12 | 16.53 |
| Professional Expense And Contract Services Expense | 9.21 | 9.57 | 10.85 | 17.17 |
| Other Non Interest Expense | 27.32 | 31.51 | 31.48 | 32.88 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Flushing Financial Corporationthis co. | FFIC | $542M | 16.00↑ premium | 0.76 | 2.7% | - |
| Peoples Financial Services Corp. | PFIS | $566M | 9.62 | 1.09 | 11.4% | - |
| Carter Bankshares, Inc. | CARE | $558M | 5.17 | 1.11 | 7.5% | - |
| Northrim BanCorp, Inc. | NRIM | $543M | 8.45 | 1.65 | 19.8% | - |
| Midland States Bancorp, Inc. |
| MSBI |
| $533M |
| 21.34 |
| 1.19 |
| -22.0% |
| - |
| Southern First Bancshares, Inc. | SFST | $528M | 13.11 | 1.24 | 8.2% | - |
| Unity Bancorp, Inc. | UNTY | $524M | 8.79 | 1.46 | 16.8% | - |
| ACNB Corporation | ACNB | $523M | 10.23 | 1.23 | 8.8% | - |
| Civista Bancshares, Inc. | CIVB | $515M | 9.18 | 0.93 | 8.5% | - |
| Peer Median | - | 9.40 | 1.21 | 8.7% | - | |