NASDAQ$FFIC
Flushing Financial Corporation · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
GAAP and core NIM expanded QoQ and average total deposits increased.
Flushing Financial Corporation reported a GAAP EPS of $0.27 and a core EPS of $0.25 for Q4 2023. The company saw sequential GAAP and core NIM expansion, along with an increase in total average deposits.
- GAAP EPS was $0.27 and Core EPS was $0.25.
- GAAP NIM was 2.29% while Core NIM amounted to 2.31%.
- Average total deposits increased 3.1% YoY and 0.9% QoQ.
- Nonperforming assets to total assets increased to 54 bps.
Headline financials
Revenue & EPS history
Flushing Financial · Revenue · Quarterly
$53.5M
Revenue by segment
Flushing Financial · $54M total across 1 segment · Q1 2022
- Mortgage Loans, Net$54M—100.0%
Forward guidance
Flushing Financial is focused on increasing NIM and reducing volatility, maintaining credit discipline, preserving strong liquidity and capital, and bending the expense curve.
Tailwinds
- GAAP and Core NIM improved 7 bps and 18 bps QoQ, respectively, in 4Q23
- NIM improved 5 bps QoQ to 2.14%, absent episodic items
- Largely achieved the goal of becoming interest rate neutral to a 100 bps change in rates
- Approximately 25% of the loan portfolio consists of floating rate loans (including interest rate hedges)
- Average noninterest bearing increased 2.5% QoQ and accounted for 12.7% of average total deposits
Headwinds
- Checking account openings declined 6.6% YoY in 4Q23
- 1Q24 seasonal expenses are expected to be less than half of the $4.1 million recorded in 1Q23
- Loan pipeline decreased 35.3% YoY and 55.1% QoQ to $163.1 million
- Net interest margin FTE decreased 41 bps YoY, but increased 7 bps QoQ to 2.29%
- Checking account openings declined 6.6% YoY in 4Q23
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 Q4 2023
+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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