Flushing Financial ( (FFIC) ) has released its Q4 earnings. Here is a breakdown of the information Flushing Financial presented to its investors.
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Flushing Financial Corporation, the holding company for Flushing Bank, operates as a commercial bank in New York, offering a range of banking services including deposit, loan, and real estate lending solutions. In its latest earnings report, Flushing Financial announced a GAAP loss per share of $(1.61) for the fourth quarter and $(1.05) for the full year 2024, while reporting a core EPS of $0.14 and $0.73 respectively. The company undertook significant restructuring activities in 2024, including raising $70 million in capital and repositioning its investment portfolio to improve profitability and strengthen its balance sheet. Key financial metrics showed an increase in the net interest margin (NIM) to 2.39% for GAAP and 2.25% for core NIM in the fourth quarter. However, the company reported a significant net loss of $49.2 million for Q4 due to the pre-tax loss from restructuring transactions. Looking ahead, Flushing Financial’s management is optimistic about 2025, focusing on preserving strong liquidity and capital, maintaining credit discipline, and improving profitability. The company anticipates further improvement in financial performance as the yield curve steepens, supporting net interest margin growth.
