Flushing Financial Corporation Releases FD Disclosure and Financial Statement Presentation on November 7, 2024.

On the 7th of November, 2024, Flushing Financial Corporation filed a Form 8-K with the Securities and Exchange Commission, revealing its recent Financial Disclosure and Statement Presentation. In this disclosure, the company made available to investors a presentation dated the same day, identified as Exhibit 99.1. The disclosed presentation includes various financial data and key messages showcasing the company’s conservative underwriting practices, historical credit quality, and strategies for future growth.

The presentation highlighted Flushing Financial as a leading community bank in the Greater NYC area with a well-diversified, low-risk loan portfolio. Key areas of focus outlined include increasing Net Interest Margin (NIM), maintaining credit discipline, preserving liquidity and capital, and managing expenses to improve profitability in the long term. The company’s focus on the Asian banking niche and steady value creation strategies were notably emphasized.

Also mentioned in the disclosure were details regarding the company’s coverage of the Asian banking market, real estate loan security details, net charge-offs performance, noncurrent loans statistics, and a focus on low leverage loans with shared philosophies underpinning the underwriting process. The firm’s strong credit quality, particularly in multifamily and investor CRE portfolios, was underscored.

Furthermore, the filing highlighted technology enhancements aimed at growing the customer base, digital banking growth, and the company’s approach to real estate lending, emphasizing low leverage and strict underwriting standards. The document included detailed financial reconciliations of GAAP to core earnings, reconciliation of GAAP revenue and pre-provision pre-tax net revenue, net interest income reconciliation, and the calculation of tangible stockholders’ common equity to tangible assets.

In their yearly financial report, Flushing Financial Corporation demonstrated continued sound financial practices, prudent lending policies, and a commitment to driving shareholder value while navigating a dynamic financial landscape.

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This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Flushing Financial’s 8K filing here.

Flushing Financial Company Profile

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.