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Jun 30, 2020
Flushing Financial Q2 2020 Earnings Report
Flushing Financial's second quarter earnings totaled $18.3 million, or $0.63 per diluted common share and achieved record net interest income due to cost of funds decreasing. Core deposits increased and net interest margin expanded.
Key Takeaways
Flushing Financial Corporation reported a GAAP diluted EPS of $0.63 and core diluted EPS of $0.36 for Q2 2020. The company's net interest margin was 2.87%, and GAAP net interest income reached a record $48.7 million.
GAAP diluted EPS was $0.63, compared to ($0.05) in 1Q20 and $0.37 in 2Q19
Core diluted EPS was $0.36 compared to $0.19 in 1Q20 and $0.42 in 2Q19
Net interest margin was 2.87%, up 43bps QoQ and 42bps YoY
Record GAAP net interest income of $48.7 million, up 19.3% QoQ and 21.8% YoY
Flushing Financial
Flushing Financial
Forward Guidance
The company continues to focus on strategic objectives such as managing cost of funds, increasing interest income, enhancing core earnings, managing credit risk and remaining well capitalized.