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Dec 31, 2022
Flushing Financial Q4 2022 Earnings Report
Reports Q4 2022 GAAP EPS of $0.34 and Core EPS of $0.57.
Key Takeaways
Flushing Financial Corporation reported a GAAP EPS of $0.34 for Q4 2022, a decrease of 41.4% year-over-year. Core EPS for the same period was $0.57, down 14.9% year-over-year. The company's ROAA was 0.48%, and ROAE was 6.06%.
Period end net loans increased 4.4% year over year.
Average deposits increased 3.4% year over year.
Net interest income decreased 13.5% year over year to $54.2 million.
Company repurchased 374,862 shares of common stock during the quarter.
Flushing Financial
Flushing Financial
Forward Guidance
Management anticipates that the net interest margin compression is expected to be temporary and remain until the Fed ceases rate moves with recovery on a lag as funding pressures ease and loans reprice upwards.