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Dec 31, 2020
Flushing Financial Q4 2020 Earnings Report
Reported GAAP EPS of $0.11 and core EPS of $0.58.
Key Takeaways
Flushing Financial Corporation reported a GAAP diluted EPS of $0.11 and a core diluted EPS of $0.58 for Q4 2020. The company achieved record net interest income for the third consecutive quarter and reduced loans in forbearance. The Empire acquisition was closed and the systems conversion was completed.
GAAP diluted EPS of $0.11, compared to $0.45 in 4Q19
Core diluted EPS of $0.58 compared to $0.41 in 4Q19
Record net interest income of $55.7 million, up 35.3% YoY
Loans in forbearance declined 56.9% in 4Q20
Flushing Financial
Flushing Financial
Forward Guidance
Flushing Financial is expected to continue managing cost of funds, resume historical loan growth, enhance core earnings power, manage credit risk, and remain well capitalized.
Positive Outlook
- Manage cost of funds and continue to improve funding mix
- Resume historical loan growth while achieving appropriate risk adjusted returns
- Enhance core earnings power by improving scalability and efficiency
- Manage credit risk
- Remain well capitalized