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Sep 30, 2021
Flushing Financial Q3 2021 Earnings Report
Reported GAAP EPS of $0.81 and Record Core EPS of $0.88
Key Takeaways
Flushing Financial Corporation reported a strong third quarter with GAAP EPS of $0.81, up 62.0% YoY, and record core EPS of $0.88, up 57.1% YoY. The company achieved record net interest income and a record loan pipeline, driven by the successful implementation of their business strategy.
Record net interest income increased 3.8% QoQ and 26.9% YoY to $63.4 million.
Net interest margin FTE increased 20 bps QoQ and 34 bps YoY to 3.34%.
Loan pipeline increased 34.7% YoY to a record $530.7 million.
Tangible Common Equity to Tangible Assets improved to 8.04% from 7.80% in 2Q21.
Forward Guidance
The combination of an improving economy, broad based and record loan pipelines, and merger disruption should lead to positive loan growth into 2022
Historical Earnings Impact
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Avg. Return Before/After Earnings
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