NASDAQ$FFIC
Flushing Financial Corporation · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Growth in average deposits and solid credit quality metrics were reported.
Flushing Financial Corporation reported second quarter 2024 GAAP and Core EPS of $0.18, with net interest income up quarter over quarter. The company's credit quality remained strong, and capital ratios remained solid.
- Net interest margin FTE decreased 13 bps year over year, but only 1 bp quarter over quarter to 2.05%.
- Average total deposits increased 4.3% year over year and 1.6% quarter over quarter to $7.2 billion.
- Period end net loans decreased 0.9% year over year and 0.7% quarter over quarter to $6.7 billion.
- NPAs increased to $55.8 million, equating to 61 bps of assets.
Headline financials
Revenue & EPS history
Flushing Financial · Revenue · Quarterly
$47M
Revenue by segment
Flushing Financial · $54M total across 1 segment · Q1 2022
- Mortgage Loans, Net$54M—100.0%
Forward guidance
Flushing Financial anticipates that the increased loan pipeline will help to stabilize NIM. The Company expects expense growth in 2024 will be more in line with its historical growth rate of mid-single digits. The company remains confident that strong underwriting will continue to drive toward low loss content.
Tailwinds
- Increased loan pipeline will help to stabilize NIM
- Strong underwriting
- Low loss content
- Strong liquidity
- Capital ratios remain strong
Headwinds
- GAAP and Core NIM declined 1 and 3 bps, respectively
- Loan originations were less than paydowns
- GAAP and core noninterest expense each increased 6% in the first half of the year compared to the same period a year ago
- Tangible Common Equity to Tangible Assets was 7.12% at June 30, 2024, down 28 bps QoQ
- Nonperforming loans were 51 bps of loans in 2Q24 compared to 27 bps in 2Q23 and 36 bps in 1Q24
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2024
+0.2%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+2.1%
Avg return
30 days after
47%
31 / 66 earnings
Positive
+16.4%
Q2 2020
Best reaction
-10.1%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.1% | -4.5% | -2.4% | |
| Q4 2025 | -1.4% | +3.8% | -0.8% | |
| Q3 2025 | +4.3% | +9.6% | +27.6% | |
| Q2 2025 | -2.2% | -0.8% | +8.9% | |
| Q1 2025 | -3.9% | +2.1% | -3.4% | |
| Q4 2024 | -2.2% | -5.2% | +0.1% | |
| Q3 2024 | +1.7% | +7.7% | +20.4% | |
| Q2 2024 | -10.1% | -18.8% | -14.9% | |
| Q1 2024 | -2.2% | -4.8% | +9.8% | |
| Q4 2023 | +2.6% | +3.9% | -23.0% | |
| Q3 2023 | +2.1% | +11.4% | +15.5% | |
| Q2 2023 | +14.0% | +11.5% | -0.1% | |
| Q1 2023 | -8.5% | -9.5% | -11.2% | |
| Q4 2022 | -8.0% | -3.9% | -1.8% | |
| Q3 2022 | -4.0% | -1.6% | +1.9% | |
| Q2 2022 | -0.5% | -3.6% | -3.2% | |
| Q1 2022 | +3.4% | +0.1% | +6.0% | |
| Q4 2021 | -5.5% | -5.1% | -4.9% | |
| Q3 2021 | -0.5% | +0.8% | +3.8% | |
| Q2 2021 | +1.7% | -0.2% | +6.1% | |
| Q1 2021 | +3.8% | +4.0% | +4.2% | |
| Q4 2020 | +0.0% | +2.9% | +13.5% | |
| Q3 2020 | +0.2% | +4.0% | +21.6% | |
| Q2 2020 | +16.4% | +15.8% | +14.5% | |
| Q1 2020 | +10.8% | -1.1% | -2.1% | |
| Q4 2019 | +1.5% | +5.5% | -7.3% | |
| Q3 2019 | +0.4% | +0.6% | -2.8% | |
| Q2 2019 | -6.0% | -5.9% | -11.5% | |
| Q1 2019 | -1.4% | +1.0% | -6.5% | |
| Q4 2018 | +0.6% | +2.1% | +5.3% | |
| Q3 2018 | -5.2% | -1.1% | +4.5% | |
| Q2 2018 | -1.4% | -3.7% | -1.0% | |
| Q1 2018 | -5.2% | -4.3% | -1.3% | |
| Q4 2017 | +0.6% | +0.7% | -3.8% | |
| Q3 2017 | -6.7% | -4.8% | -5.3% | |
| Q2 2017 | -0.5% | +0.8% | -3.4% | |
| Q1 2017 | +11.6% | +7.6% | +1.5% | |
| Q4 2016 | -0.1% | +1.9% | +2.8% | |
| Q3 2016 | -6.3% | -6.9% | +16.3% | |
| Q2 2016 | +8.7% | +7.0% | +9.4% | |
| Q1 2016 | -2.0% | — | — | |
| Q4 2015 | +10.2% | — | — | |
| Q3 2015 | +5.5% | — | — | |
| Q2 2015 | -1.2% | — | — | |
| Q1 2015 | -0.6% | — | — | |
| Q4 2014 | -4.4% | — | — | |
| Q3 2014 | +1.2% | — | — | |
| Q2 2014 | -4.3% | — | — | |
| Q1 2014 | -0.7% | — | — | |
| Q4 2013 | +4.1% | — | — | |
| Q3 2013 | +1.5% | — | — | |
| Q2 2013 | +2.2% | — | — | |
| Q1 2013 | -3.6% | — | — | |
| Q4 2012 | -0.2% | — | — | |
| Q3 2012 | +2.7% | — | — | |
| Q2 2012 | +3.1% | — | — | |
| Q1 2011 | +0.9% | — | — | |
| Q1 2012 | +4.5% | — | — | |
| Q4 2009 | +2.2% | — | — | |
| Q4 2010 | +2.2% | — | — | |
| Q4 2011 | +2.2% | — | — | |
| Q3 2011 | -2.5% | — | — | |
| Q3 2010 | -2.5% | — | — | |
| Q2 2010 | -5.4% | — | — | |
| Q2 2011 | -5.4% | — | — | |
| Q1 2010 | +5.2% | — | — |
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