Flushing Financial 3Q25 Earnings Press Release;

EX-99 2 ffic-20251029xex99.htm EX-99.1 Flushing Financial 3Q25 Earnings Press Release;

Exhibit 99.1

0	● ●
	John R. Buran, President and CEO Commentary
Flushing Financial Corporation 3Q25 Reports Double Digit Basis Point Increase in GAAP and Core NIM, and Noninterest Deposit Growth; GAAP and Core EPS of $0.30 and $0.35, Respectively
"Flushing Financial delivered strong results for the third quarter, with a 10 basis-point sequential expansion in both GAAP and Core net interest margin. These quarterly results marked a turning point for the Company and demonstrate the successful execution of our strategic priorities and the effectiveness of our balance sheet repositioning initiatives. The 5.7% year-over-year growth in average noninterest-bearing deposits, which now represents 12.2% of total deposits, reflects the strength of our customer relationships and provides us with a stable, low-cost funding base. Our tangible common equity ratio of 8.01% for the quarter was a considerable 101 basis-point improvement from a year ago, underscoring our commitment to maintaining robust capital levels. With our strong loan pipeline of $345.6 million and substantial liquidity position of $3.9 billion, we remain confident in our ability to navigate the evolving macroeconomic landscape. We will continue to adhere to our disciplined underwriting standards and proactive risk management practices as we remain focused on driving sustainable growth, increased profitability and creating long-term shareholder value.” - John R. Buran, President and CEO
UNIONDALE, N.Y., October 29, 2025 –GAAP and Core NIM Expansion and Average Noninterest Deposit Growth. The Company reported 3Q25 GAAP and Core EPS of $0.30 and $0.35, compared to $0.30 and $0.26, respectively, a year ago. During the quarter, NIM expanded on both a GAAP and Core basis by 10 bps QoQ to 2.64% and 2.62%, respectively, primarily driven by assets repricing and growth of the noninterest bearing deposits. Average loans decreased 2.1% YoY and 1.2 % QoQ, due to maintaining pricing and credit discipline. Maintaining these disciplined standards resulted in the Bank’s CRE concentration declining to 475% at September 30, 2025, compared to 521% a year ago and 493% at the prior quarter end. Credit Metrics and Capital Remain Stable QoQ. NPAs to assets were 70 bps, compared to 75 bps the prior quarter. Criticized and classified loans totaled 111 bps of gross loans compared to 108 bps in the prior quarter. Net charge-offs to average loans were 7 bps in 3Q25 compared to 15 bps in 2Q25. TCE/TA¹ was 8.01% at September 30, 2025, compared to 8.04% at June 30, 2025.

Key Financial Metrics²


	3Q25	2Q25	1Q25	4Q24	3Q24	9M25	9M24
GAAP:
Earnings (Loss) per Share	$0.30	$0.41	($0.29)	($1.64)	$0.30	$0.43	$0.60
ROAA (%)	0.48	0.64	(0.43)	(2.17)	0.39	0.22	0.27
ROAE (%)	5.86	8.00	(5.36)	(29.24)	5.30	2.76	3.57
NIM FTE³ (%)	2.64	2.54	2.51	2.39	2.10	2.56	2.07
Core:
EPS	$0.35	$0.32	$0.23	$0.14	$0.26	$0.90	$0.59
ROAA (%)	0.55	0.50	0.35	0.19	0.34	0.47	0.26
ROAE (%)	6.71	6.29	4.34	2.54	4.59	5.77	3.48
Core NIM FTE (%)	2.62	2.52	2.49	2.25	2.07	2.54	2.05
Credit Quality:
NPAs/Assets (%)	0.70	0.75	0.71	0.57	0.59	0.70	0.59
ACLs/Loans (%)	0.63	0.62	0.59	0.60	0.59	0.63	0.59
ACLs/NPLs (%)	93.28	83.76	86.54	120.51	117.75	93.28	117.75
NCOs/Avg Loans (%)	0.07	0.15	0.27	0.28	0.18	0.16	0.06
Balance Sheet:
Avg Loans ($B)	$6.6	$6.7	$6.7	$6.8	$6.7	$6.6	$6.8
Avg Dep ($B)	$7.3	$7.6	$7.6	$7.4	$7.5	$7.5	$7.2
Book Value/Share	$21.06	$20.91	$20.81	$21.53	$22.94	$21.06	$22.94
Tangible BV/Share	$21.03	$20.89	$20.78	$20.97	$22.29	$21.03	$22.29
TCE/TA (%)	8.01	8.04	7.79	7.82	7.00	8.01	7.00

Note: In certain circumstances, reclassifications have been made to prior periods to conform to the current presentation.

¹ Tangible Common Equity (“TCE”)/Total Assets (“TA”). ² See “Reconciliation of GAAP Earnings (Loss) and Core Earnings”, “Reconciliation of GAAP Revenue and Pre-Provision Pre-Tax Net Revenue”, and “Reconciliation of GAAP Net Interest Income Net Interest Margin to Core Net Interest Income and Net Interest Margin.” ³ Net Interest Margin (“NIM”) Fully Taxable Equivalent (“FTE”).

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌1


3Q25 Highlights
● Net interest margin FTE increased 54 bps YoY and 10 bps QoQ to 2.64%; Core net interest margin FTE increased 55 bps YoY and 10 bps QoQ to 2.62%; Prepayment penalty income, net reversals and recovered interest from nonaccrual and delinquent loans, swap termination fees, net gains and losses from fair value adjustments on hedges, and purchase accounting accretion totaled 9 bps in 3Q25 compared to 11 bps in 3Q24 and 6 bps in 2Q25 ● Average total deposits decreased 1.6% YoY and 3.4% QoQ to $7.3 billion; Average noninterest bearing deposits increased 5.7% YoY and 2.1% QoQ and totaled 12.2% of total average deposits compared to 11.3% in 3Q24 and 11.5% in 2Q25; Average CDs were $2.4 billion, down 15.2% YoY and 1.3% QoQ ● Period end net loans decreased 2.2% YoY and 0.6% QoQ to $6.6 billion; Loan closings were $252.8 million, up 16.4 % YoY and 58.8% QoQ; Back-to-back swap loan originations were $37.1 million compared to $38.5 million in 3Q24 and $38.7 million in 2Q25 and generated $0.7 million, $0.6 million, and $0.6 million of noninterest income, respectively; Loan pipeline increased 18.0% YoY and 91.0% QoQ to $345.6 million; Approximately 17.1% of the loan pipeline consists of back-to-back swap loans ● NPAs totaled $62.1 million (70 bps of assets) in 3Q25 compared to $54.9 million (59 bps) a year ago and $66.1 million (75 bps) in the prior quarter ● Provision for credit losses was $1.5 million in 3Q25 compared to $1.7 million in 3Q24 and $4.2 million in 2Q25; Net charge-offs were $1.1 million in 3Q25 compared to $3.0 million in 3Q24 and $2.5 million in 2Q25; Allowance for loan losses totaled 0.63% in 3Q25 compared to 0.59% in 3Q24. ● Tangible Common Equity to Tangible Assets was 8.01% at September 30, 2025, compared to 7.00% at September 30, 2024, and 8.04% at June 30, 2025; Tangible book value per share was $21.03 at September 30, 2025, compared to $22.29 a year ago and $20.89 for the prior quarter
Areas of Focus
Improve Profitability	● GAAP and Core NIM expanded 10 bps each QoQ to 2.64% and 2.62%, respectively ● GAAP ROAA and ROAE decreased 16 bps and 214 bps, respectively, QoQ; Core ROAA and ROAE improved 5 bps and 42 bps, respectively, QoQ ● Tangible book value per share increased 0.7% QoQ to $21.03 at September 30, 2025
Maintain Credit Discipline	● Approximately 91% of the loan portfolio is collateralized by real estate with an average loan to value of less than 35%¹ ● Weighted average debt service coverage ratio is approximately 1.7x for multifamily and investor commercial real estate loans ● Criticized and classified loans are 111 bps of gross loans compared to 100 bps a year ago and 108 bps for the prior quarter ● Manhattan office buildings exposure is minimal at approximately 0.48% of gross loans
Preserve Strong Liquidity and Capital	● Maintaining ample liquidity with $3.9 billion of undrawn lines and resources as of September 30, 2025 ● Average NIB deposits increased 5.7% YOY and 2.1% QoQ and accounted for 12.2% of average total deposits compared to 11.3% 3Q24 ● Uninsured and uncollateralized deposits were 17% of total deposits, while uninsured deposits were 35% of total deposits ● Capital Levels increasing; Leverage ratio of 8.64%, up 73 bps YoY and 33 bps QoQ ● Tangible Common Equity to Tangible Assets was 8.01% at September 30, 2025, up 101 bps YoY and down 3 bps QoQ

¹ Based on appraisals at origination.

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌2

Income Statement Highlights


						YoY		QoQ
($000s, except EPS)	3Q25	2Q25	1Q25	4Q24	3Q24	Change		Change

Net Interest Income	$53,828	$53,209	$52,989	$51,235	$45,603	18.0	%	1.2	%
Provision for Credit Losses	1,531	4,194	4,318	6,440	1,727	(11.3)		(63.5)
Noninterest Income (Loss)	4,746	10,277	5,074	(71,022)	6,277	(24.4)		(53.8)
Noninterest Expense	43,365	40,356	59,676	45,630	38,696	12.1		7.5
Income (Loss) Before Income Taxes	13,678	18,936	(5,931)	(71,857)	11,457	19.4		(27.8)
Provision (Benefit) for Income Taxes	3,231	4,733	3,865	(22,612)	2,551	26.7		(31.7)
Net Income (Loss)	$10,447	$14,203	($9,796)	($49,245)	$8,906	17.3		(26.4)
Diluted Earnings (Loss) per Common Share	$0.30	$0.41	($0.29)	($1.64)	$0.30	-		(26.8)

Core Net Income¹	$11,957	$11,162	$7,931	$4,209	$7,723	54.8		7.1
Core EPS¹	$0.35	$0.32	$0.23	$0.14	$0.26	34.6		9.4

¹ See Reconciliation of GAAP Earnings (Loss) and Core Earnings

Net interest income increased YoY and QoQ.

●

Net Interest Margin FTE of 2.64% increased 54 bps YoY and 10 bps QoQ; The yield on interest earning assets increased 11 bps QoQ to 5.70%, while the cost of funds increased 2 bps QoQ

●

Prepayment penalty income, swap termination fees, net reversals and recoveries of interest from nonaccrual and delinquent loans, net gains and losses from fair value adjustments on hedges, and purchase accounting accretion totaled $1.8 million (9 bps to NIM) in 3Q25 compared to $2.4 million (11 bps to NIM) in 3Q24 and $1.2 million (6 bps to NIM) in 2Q25

●

Excluding the items in the previous bullet, the net interest margin was 2.55% in 3Q25 compared to 1.99% in 3Q24 and 2.48% in 2Q25

The provision for credit losses decreased YoY and QoQ.

●

Net charge-offs were $1.1 million (7 bps of average loans) in 3Q25 compared to $3.0 million (18 bps of average loans) in 3Q24 and $2.5 million (15 bps of average loans) in 2Q25

Noninterest income decreased YoY and QoQ.

●

Back-to-back swap loan closings of $37.1 million in 3Q25 (compared to $38.5 million in 3Q24 and $38.7 million in 2Q25) generated $0.7 million of noninterest income (compared to $0.6 million in both 3Q24 and 2Q25)

●

Net gains (losses) from fair value adjustments were $(1.8) million ($(0.04) per share, net of tax) in 3Q25 compared to $1.0 million ($0.03 per share, net of tax) in 3Q24 and $1.7 million ($0.04 per share, net of tax) in 2Q25

●

Gain on the sale of securities was $0.7 million ($0.01 per share, net of tax) in 3Q25 as the Company sold $81.7 million of mortgage-based securities with an approximate yield of 5.12%

●

In 2Q25, the Company reclassified $29.5 million of loans held for sale to loans held for investment reclassifying a $2.6 million mark to market adjustment in net gain (loss) on sale of loans

●

Absent the items in the previous three bullets and other immaterial adjustments, core noninterest income was $5.9 million in 3Q25, up 11.6 % YoY but down 1.9 % QoQ

Noninterest expense increased YoY and QoQ.

●

Core noninterest expenses were $42.2 million in 3Q25, up 9.4% YoY and 5.9% QoQ, reflecting investments in talent acquisition and new team builds to support growth initiatives

●

GAAP noninterest expense to average assets was 1.99% in 3Q25 compared to 1.68% in 3Q24 and 1.81% in 2Q25

Provision for income taxes was $3.2 million in 3Q25 compared to $2.6 million in 3Q24 and $4.7 million in 2Q25.

●

The effective tax rate was 23.6% in 3Q25 compared to 22.3% in 3Q24 and 25.0% in 2Q25

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌3

Balance Sheet, Credit Quality, and Capital Highlights


						YoY		QoQ
	3Q25	2Q25	1Q25	4Q24	3Q24	Change		Change
Averages ($MM)
Loans	$6,595	$6,678	$6,672	$6,780	$6,737	(2.1)	%	(1.2)	%
Total Deposits	7,346	7,607	7,561	7,450	7,464	(1.6)		(3.4)

Credit Quality ($000s)
Nonperforming Loans	$44,851	$49,247	$46,263	$33,318	$34,261	30.9	%	(8.9)	%
Nonperforming Assets	62,129	66,125	64,263	51,318	54,888	13.2		(6.0)
Criticized and Classified Loans	74,108	72,005	89,673	72,207	68,338	8.4		2.9
Criticized and Classified Assets	91,386	88,883	107,673	90,207	88,965	2.7		2.8
Allowance for Credit Losses/Loans (%)	0.63	0.62	0.59	0.60	0.59	4	bp	1	bp

Capital
Book Value/Share	$21.06	$20.91	$20.81	$21.53	$22.94	(8.2)	%	0.7	%
Tangible Book Value/Share	21.03	20.89	20.78	20.97	22.29	(5.7)		0.7
Tang. Common Equity/Tang. Assets (%)	8.01	8.04	7.79	7.82	7.00	101	bps	(3)	bps
Leverage Ratio (%)	8.64	8.31	8.12	8.04	7.91	73		33

Average loans decreased YoY and QoQ.

●

Period end net loans totaled $6.6 billion, down 2.2% YoY and 0.6% QoQ

●

Total loan closings were $252.8 million in 3Q25 compared to $217.1 million in 3Q24 and $159.1 million in 2Q25; the loan pipeline was $345.6 million at September 30, 2025, up 18.0% YoY and 91.0% QoQ

●

The diversified loan portfolio is approximately 91% collateralized by real estate with an average loan-to-value ratio of less than 35%

Average total deposits decreased YoY and QoQ.

●

Average noninterest bearing deposits increased 5.7% YoY and 2.1% QoQ and comprised 12.2% of average total deposits in 3Q25 compared to 11.3% a year ago

●

Average CDs totaled $2.4 billion, down 15.2% YoY and 1.3% QoQ; approximately $770.2 million of retail CDs are due to mature at an average rate of 3.98% in 4Q25

Credit Quality: Nonperforming loans increased YoY but decreased QoQ.

●

Nonperforming loans were 67 bps of gross loans in 3Q25 compared to 50 bps in 3Q24 and 74 bps in 2Q25

●

Criticized and classified loans were 111 bps of gross loans at 3Q25 compared to 100 bps at 3Q24 and 108 bps at 2Q25

Capital: Book value per common share and tangible book value per common share, a non-GAAP measure, decreased 8.2% and 5.7% YoY to $21.06 and $21.03, respectively.

●

The Company paid a dividend of $0.22 per share in 3Q25; 807,964 shares remaining subject to repurchase under the authorized stock repurchase program, which has no expiration date or maximum dollar limit

●

Ample credit enables the Company for continued investment in the business and strategic initiatives

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌4

Conference Call Information

Conference Call Information:

●

John R. Buran, President and Chief Executive Officer, and Susan K. Cullen, Senior Executive Vice President and Chief Financial Officer and Treasurer, will host a conference call on Thursday, October 30, 2025, at 9:30 AM (ET) to discuss the Company’s third quarter earnings and strategy.

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Dial-in for Live Call: 1-877-509-5836; Canada 855-669-9657

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Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=b9Jv01L9

●

Dial-in for Replay: 1-877-344-7529; Canada 855-669-9658

●

Replay Access Code: 2926944

●

The conference call will be simultaneously webcast and archived

Fourth Quarter 2025 Earnings Release Date:

The Company plans to release Fourth Quarter 2025 financial results after the market close on January 27, 2026, followed by a conference call at 9:30 AM (ET) on January 28, 2026.

A detailed announcement will be issued prior to the fourth quarter’s close confirming the date and the time of the release.

About Flushing Financial Corporation

Flushing Financial Corporation (Nasdaq: FFIC) is the holding company for Flushing Bank®, an FDIC insured, New York State —chartered commercial bank that operates banking offices in Queens, Brooklyn, Manhattan, and on Long Island. The Bank has been building relationships with families, business owners, and communities since 1929. Today, it offers the products, services, and conveniences associated with large commercial banks, including a full complement of deposit, loan, equipment finance, and cash management services. Rewarding customers with personalized attention and bankers that can communicate in the languages prevalent within these multicultural markets is what makes the Bank uniquely different. As an Equal Housing Lender and leader in real estate lending, the Bank’s experienced lending teams create mortgage solutions for real estate owners and property managers both within and outside the New York City metropolitan area. The Bank also fosters relationships with consumers nationwide through its online banking division with the iGObanking® and BankPurely® brands.

Additional information on Flushing Bank and Flushing Financial Corporation may be obtained by visiting the Company’s website at FlushingBank.com. Flushing Financial Corporation’s earnings release and presentation slides will be available prior to the conference call at www.FlushingBank.com under Investor Relations.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this Press Release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and in other documents filed by the Company with the Securities and Exchange Commission from time to time. Forward-looking statements may be identified by terms such as “may”, “will”, “should”, “could”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “forecasts”, “goals”, “potential” or “continue” or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. The Company has no obligation to update these forward-looking statements.

#FF- Statistical Tables Follow -

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌5

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

FINANCIAL HIGHLIGHTS

(Unaudited)


	At or for the three months ended															At or for the nine months ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
(Dollars in thousands, except per share data)	2025			2025			2025			2024			2024			2025			2024
Performance Ratios ⁽¹⁾
Return on average assets		0.48	%		0.64	%		(0.43)	%		(2.17)	%		0.39	%		0.22	%		0.27	%
Return on average equity		5.86			8.00			(5.36)			(29.24)			5.30			2.76			3.57
Yield on average interest-earning assets ⁽²⁾		5.70			5.59			5.51			5.60			5.63			5.60			5.46
Cost of average interest-bearing liabilities		3.62			3.58			3.50			3.75			4.10			3.57			3.96
Cost of funds		3.21			3.19			3.13			3.35			3.69			3.18			3.55
Net interest rate spread during period⁽²⁾		2.08			2.01			2.01			1.85			1.53			2.03			1.50
Net interest margin ⁽²⁾		2.64			2.54			2.51			2.39			2.10			2.56			2.07
Noninterest expense to average assets		1.99			1.81			2.65			2.01			1.68			2.15			1.76
Efficiency ratio ⁽³⁾		71.03			67.69			72.21			79.01			77.20			70.30			81.81
Average interest-earning assets to average interest-bearing liabilities		1.18	X		1.17	X		1.17	X		1.17	X		1.16	X		1.17	X		1.17	X

Average Balances
Total loans, net	$	6,595,037		$	6,678,494		$	6,671,922		$	6,780,268		$	6,737,261		$	6,648,202		$	6,763,078
Total interest-earning assets		8,181,582			8,402,582			8,468,913			8,587,482			8,709,671			8,349,971			8,434,283
Total assets		8,702,227			8,918,075			9,015,880			9,071,879			9,203,884			8,877,578			8,915,076
Total deposits		7,345,547			7,607,080			7,560,956			7,449,504			7,463,783			7,503,738			7,247,863
Total interest-bearing liabilities		6,923,640			7,176,399			7,261,100			7,339,707			7,504,517			7,119,143			7,220,876
Stockholders' equity		712,600			709,839			731,592			673,588			672,762			717,941			669,845

Per Share Data
Book value per common share ⁽⁴⁾	$	21.06		$	20.91		$	20.81		$	21.53		$	22.94		$	21.06		$	22.94
Tangible book value per common share ⁽⁵⁾	$	21.03		$	20.89		$	20.78		$	20.97		$	22.29		$	21.03		$	22.29

Stockholders' Equity
Stockholders' equity	$	711,226		$	706,377		$	702,851		$	724,539		$	666,891		$	711,226		$	666,891
Tangible stockholders' equity		710,372			705,437			701,822			705,780			648,035			710,372			648,035

Consolidated Regulatory Capital Ratios
Tier 1 capital	$	751,258		$	740,871		$	730,950		$	731,958		$	735,984		$	751,258		$	735,984
Common equity Tier 1 capital		703,450			695,099			683,670			685,004			689,902			703,450			689,902
Total risk-based capital		983,826			972,517			961,704			962,272			967,242			983,826			967,242
Risk Weighted Assets		6,692,035			6,675,621			6,719,291			6,762,048			6,790,253			6,692,035			6,790,253

Tier 1 leverage capital (well capitalized = 5%)		8.64	%		8.31	%		8.12	%		8.04	%		7.91	%		8.64	%		7.91	%
Common equity Tier 1 risk-based capital (well capitalized = 6.5%)		10.51			10.41			10.17			10.13			10.16			10.51			10.16
Tier 1 risk-based capital (well capitalized = 8.0%)		11.23			11.10			10.88			10.82			10.84			11.23			10.84
Total risk-based capital (well capitalized = 10.0%)		14.70			14.57			14.31			14.23			14.24			14.70			14.24

Capital Ratios
Average equity to average assets		8.19	%		7.96	%		8.11	%		7.43	%		7.31	%		8.09	%		7.51	%
Equity to total assets		8.02			8.05			7.80			8.02			7.19			8.02			7.19
Tangible common equity to tangible assets ⁽⁶⁾		8.01			8.04			7.79			7.82			7.00			8.01			7.00

Asset Quality
Nonaccrual loans	$	44,851		$	49,247		$	46,263		$	33,318		$	34,261		$	44,851		$	34,261
Nonperforming loans		44,851			49,247			46,263			33,318			34,261			44,851			34,261
Nonperforming assets		62,129			66,125			64,263			51,318			54,888			62,129			54,888
Net charge-offs (recoveries)		1,090			2,549			4,427			4,736			3,036			8,066			2,948

Asset Quality Ratios
Nonperforming loans to gross loans		0.67	%		0.74	%		0.69	%		0.49	%		0.50	%		0.67	%		0.50	%
Nonperforming assets to total assets		0.70			0.75			0.71			0.57			0.59			0.70			0.59
Allowance for credit losses to gross loans		0.63			0.62			0.59			0.60			0.59			0.63			0.59
Allowance for credit losses to nonperforming assets		67.34			62.38			62.30			78.24			73.50			67.34			73.50
Allowance for credit losses to nonperforming loans		93.28			83.76			86.54			120.51			117.75			93.28			117.75
Net charge-offs (recoveries) to average loans		0.07			0.15			0.27			0.28			0.18			0.16			0.06

Full-service customer facilities		29			29			28			28			28			29			28

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌6

⁽¹⁾

Ratios are presented on an annualized basis, where appropriate.

⁽²⁾

Yields are calculated on the tax equivalent basis using the statutory federal income tax rate of 21% for the periods presented.

⁽³⁾

Efficiency ratio, a non-GAAP measure, was calculated by dividing core noninterest expense (excluding OREO expense and the net gain/loss from the sale of OREO) by the total of core net interest income and core noninterest income.

⁽⁴⁾

Calculated by dividing stockholders’ equity by shares outstanding.

⁽⁵⁾

Calculated by dividing tangible stockholders’ common equity, a non-GAAP measure, by shares outstanding. Tangible stockholders’ common equity is stockholders’ equity less intangible assets. See “Calculation of Tangible Stockholders’ Common Equity to Tangible Assets”.

⁽⁶⁾

See “Calculation of Tangible Stockholders’ Common Equity to Tangible Assets”.

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌7

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(Unaudited)


	For the three months ended										For the nine months ended
	September 30,		June 30,		March 31,		December 31,		September 30,		September 30,		September 30,
(In thousands, except per share data)	2025		2025		2025		2024		2024		2025		2024
Interest and Dividend Income
Interest and fees on loans	$	94,970	$	95,005	$	93,032	$	94,111	$	95,780	$	283,007	$	281,467
Interest and dividends on securities:
Interest		19,785		20,186		21,413		24,111		24,215		61,384		54,965
Dividends		29		28		28		31		33		85		99
Other interest income		1,685		2,183		2,063		1,787		2,565		5,931		8,791
Total interest and dividend income		116,469		117,402		116,536		120,040		122,593		350,407		345,322
Interest Expense
Deposits		57,137		59,037		57,174		59,728		66,150		173,348		184,908
Other interest expense		5,504		5,156		6,373		9,077		10,840		17,033		29,638
Total interest expense		62,641		64,193		63,547		68,805		76,990		190,381		214,546
Net Interest Income		53,828		53,209		52,989		51,235		45,603		160,026		130,776
Provision for credit losses		1,531		4,194		4,318		6,440		1,727		10,043		3,128
Net Interest Income After Provision for Credit Losses		52,297		49,015		48,671		44,795		43,876		149,983		127,648
Noninterest Income (Loss)
Banking services fee income		2,000		1,948		1,521		2,180		1,790		5,469		4,767
Net gain (loss) on sale of securities		661		—		—		(72,315)		—		661		—
Net gain (loss) on sale of loans		318		2,757		630		(3,836)		137		3,705		273
Net gain (loss) from fair value adjustments		(1,831)		1,656		(152)		(1,136)		974		(327)		197
Federal Home Loan Bank of New York stock dividends		369		428		697		754		624		1,494		2,036
Life insurance proceeds		—		—		—		284		1		—		1
Bank owned life insurance		2,319		2,835		1,574		2,322		1,260		6,728		3,683
Other income		910		653		804		725		1,491		2,367		2,620
Total noninterest income (loss)		4,746		10,277		5,074		(71,022)		6,277		20,097		13,577
Noninterest Expense
Salaries and employee benefits		24,685		22,648		22,896		25,346		22,216		70,229		66,052
Occupancy and equipment		4,189		4,005		4,092		3,880		3,745		12,286		11,237
Professional services		3,999		3,452		2,885		2,516		2,752		10,336		8,330
FDIC deposit insurance		1,373		1,508		1,709		2,005		1,318		4,590		4,292
Data processing		1,831		1,806		1,868		1,697		1,681		5,505		5,193
Depreciation and amortization		1,316		1,367		1,373		1,412		1,436		4,056		4,318
Other real estate owned/foreclosure expense		353		220		345		276		135		918		405
Gain on sale of other real estate owned		—		—		—		—		(174)		—		(174)
Prepayment penalty on borrowings		—		—		—		2,572		—		—		—
Impairment of goodwill		—		—		17,636		—		—		17,636		—
Other operating expenses		5,619		5,350		6,872		5,926		5,587		17,841		17,982
Total noninterest expense		43,365		40,356		59,676		45,630		38,696		143,397		117,635
Income (Loss) Before Provision (Benefit) for Income Taxes		13,678		18,936		(5,931)		(71,857)		11,457		26,683		23,590

Provision (Benefit) for income taxes		3,231		4,733		3,865		(22,612)		2,551		11,829		5,678
Net Income (Loss)	$	10,447	$	14,203	$	(9,796)	$	(49,245)	$	8,906	$	14,854	$	17,912
Dividends paid and earnings allocated to participating securities		(120)		(127)		(132)		(90)		(126)		(381)		(296)
Income (Loss) attributable to common stock	$	10,327	$	14,076	$	(9,928)	$	(49,335)	$	8,780	$	14,473	$	17,616
Divided by:
Weighted average common shares outstanding and participating securities		34,497		34,511		34,474		30,519		29,742		34,495		29,758
Weighted average participating securities		(558)		(582)		(542)		(414)		(423)		(561)		(443)
Total weighted average common shares outstanding		33,939		33,929		33,932		30,105		29,319		33,934		29,315

Basic earnings (loss) per common share	$	0.30	$	0.41	$	(0.29)	$	(1.64)	$	0.30	$	0.43	$	0.60
Diluted earnings (loss) per common share ⁽¹⁾	$	0.30	$	0.41	$	(0.29)	$	(1.64)	$	0.30	$	0.43	$	0.60
Dividends per common share	$	0.22	$	0.22	$	0.22	$	0.22	$	0.22	$	0.66	$	0.66

⁽¹⁾

There were no common stock equivalents outstanding during the periods presented.

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌8

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Unaudited)


	September 30,		June 30,		March 31,		December 31,		September 30,
(Dollars in thousands)	2025		2025		2025		2024		2024
ASSETS
Cash and due from banks	$	142,929	$	150,123	$	271,912	$	152,574	$	267,643
Securities held-to-maturity:
Mortgage-backed securities		7,821		7,826		7,831		7,836		7,841
Other securities, net		42,688		43,005		43,319		43,649		63,859
Securities available for sale:
Mortgage-backed securities		906,270		828,756		879,566		911,636		926,731
Other securities		635,153		563,031		570,578		586,269		687,518
Loans held for sale		—		—		29,624		70,098		—
Loans		6,670,333		6,709,601		6,741,835		6,745,848		6,818,328
Allowance for credit losses		(41,837)		(41,247)		(40,037)		(40,152)		(40,342)
Net loans		6,628,496		6,668,354		6,701,798		6,705,696		6,777,986
Interest and dividends receivable		60,044		59,607		61,510		62,036		64,369
Bank premises and equipment, net		17,073		18,145		18,181		17,852		18,544
Federal Home Loan Bank of New York stock		18,909		23,773		18,475		38,096		32,745
Bank owned life insurance		224,902		222,583		219,748		218,174		217,200
Goodwill		—		—		—		17,636		17,636
Core deposit intangibles		854		940		1,029		1,123		1,220
Right of use asset		47,761		49,759		43,870		45,800		44,787
Other assets		139,091		140,622		140,955		160,497		152,807
Total assets	$	8,871,991	$	8,776,524	$	9,008,396	$	9,038,972	$	9,280,886

LIABILITIES
Total deposits	$	7,415,528	$	7,289,352	$	7,718,218	$	7,178,933	$	7,572,395
Borrowed funds		492,457		600,171		421,542		916,054		846,123
Operating lease liability		48,253		50,102		44,385		46,443		45,437
Other liabilities		204,527		130,522		121,400		173,003		150,040
Total liabilities		8,160,765		8,070,147		8,305,545		8,314,433		8,613,995

STOCKHOLDERS' EQUITY
Preferred stock (5,000,000 shares authorized; none issued)		—		—		—		—		—
Common stock ($0.01 par value; 100,000,000 shares authorized)		387		387		387		387		341
Additional paid-in capital		325,809		325,162		324,290		326,671		261,274
Retained earnings		483,936		481,077		474,472		492,003		547,708
Treasury stock		(98,948)		(98,985)		(98,993)		(101,655)		(101,633)
Accumulated other comprehensive loss, net of taxes		42		(1,264)		2,695		7,133		(40,799)
Total stockholders' equity		711,226		706,377		702,851		724,539		666,891

Total liabilities and stockholders' equity	$	8,871,991	$	8,776,524	$	9,008,396	$	9,038,972	$	9,280,886

(In thousands)
Issued shares		38,678		38,678		38,678		38,678		34,088
Outstanding shares		33,778		33,777		33,777		33,659		29,069
Treasury shares		4,900		4,901		4,901		5,019		5,019

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌9

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

AVERAGE BALANCE SHEETS

(Unaudited)


	For the three months ended										For the nine months ended
	September 30,		June 30,		March 31,		December 31,		September 30,		September 30,		September 30,
(In thousands)	2025		2025		2025		2024		2024		2025		2024
Interest-earning Assets:
Loans held for sale	$	—	$	24,708	$	64,085	$	762	$	—	$	29,363	$	—
Mortgage loans, net		5,193,430		5,260,610		5,261,261		5,358,490		5,337,170		5,238,185		5,343,108
Commercial Business loans, net		1,401,607		1,417,884		1,410,661		1,421,778		1,400,091		1,410,017		1,419,970
Total loans, net		6,595,037		6,678,494		6,671,922		6,780,268		6,737,261		6,648,202		6,763,078
Mortgage-backed securities		832,514		863,573		895,097		919,587		984,383		863,499		714,030
Other taxable securities, net		536,314		573,730		585,219		652,755		714,161		564,908		656,325
Other tax-exempt securities		43,168		43,489		43,813		64,531		65,070		43,487		65,485
Total securities, net		1,411,996		1,480,792		1,524,129		1,636,873		1,763,614		1,471,894		1,435,840
Interest-earning deposits and federal funds sold		174,549		218,588		208,777		169,579		208,796		200,512		235,365
Total interest-earning assets		8,181,582		8,402,582		8,468,913		8,587,482		8,709,671		8,349,971		8,434,283
Other assets		520,645		515,493		546,967		484,397		494,213		527,607		480,793
Total assets	$	8,702,227	$	8,918,075	$	9,015,880	$	9,071,879	$	9,203,884	$	8,877,578	$	8,915,076

Interest-bearing Liabilities:
Deposits:
Savings accounts	$	92,068	$	94,884	$	98,224	$	99,669	$	102,196	$	95,036	$	103,908
NOW accounts		2,154,978		2,388,559		2,215,683		2,024,600		1,886,387		2,252,851		1,946,022
Money market accounts		1,677,996		1,665,625		1,716,358		1,686,614		1,673,499		1,686,519		1,704,320
Certificate of deposit accounts		2,445,173		2,477,716		2,596,714		2,681,742		2,884,280		2,505,979		2,578,988
Total due to depositors		6,370,215		6,626,784		6,626,979		6,492,625		6,546,362		6,540,385		6,333,238
Mortgagors' escrow accounts		81,501		104,761		78,655		87,120		71,965		88,316		80,408
Total interest-bearing deposits		6,451,716		6,731,545		6,705,634		6,579,745		6,618,327		6,628,701		6,413,646
Borrowings		471,924		444,854		555,466		759,962		886,190		490,442		807,230
Total interest-bearing liabilities		6,923,640		7,176,399		7,261,100		7,339,707		7,504,517		7,119,143		7,220,876
Noninterest-bearing demand deposits		893,831		875,535		855,322		869,759		845,456		875,037		834,217
Other liabilities		172,156		156,302		167,866		188,825		181,149		165,457		190,138
Total liabilities		7,989,627		8,208,236		8,284,288		8,398,291		8,531,122		8,159,637		8,245,231
Equity		712,600		709,839		731,592		673,588		672,762		717,941		669,845
Total liabilities and equity	$	8,702,227	$	8,918,075	$	9,015,880	$	9,071,879	$	9,203,884	$	8,877,578	$	8,915,076

Net interest-earning assets	$	1,257,942	$	1,226,183	$	1,207,813	$	1,247,775	$	1,205,154	$	1,230,828	$	1,213,407

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌10

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

NET INTEREST INCOME AND NET INTEREST MARGIN

(Unaudited)


	For the three months ended															For the nine months ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
(Dollars in thousands)	2025			2025			2025			2024			2024			2025			2024
Interest Income:
Loans held for sale	$	—		$	247		$	664		$	7		$	—		$	911		$	—
Mortgage loans, net		74,149			74,240			72,391			73,252			74,645			220,780			218,185
Commercial Business loans, net		20,821			20,518			19,977			20,852			21,135			61,316			63,282
Total loans, net		94,970			94,758			92,368			94,104			95,780			282,096			281,467
Mortgage-backed securities		11,513			11,709			12,528			13,884			12,443			35,750			23,601
Other taxable securities, net		7,939			8,143			8,553			9,887			11,431			24,635			30,343
Other tax-exempt securities		458			458			456			469			474			1,372			1,418
Total securities, net		19,910			20,310			21,537			24,240			24,348			61,757			55,362
Interest-earning deposits and federal funds sold		1,685			2,183			2,063			1,787			2,565			5,931			8,791
Total interest-earning assets		116,565			117,498			116,632			120,138			122,693			350,695			345,620
Interest Expense:
Deposits:
Savings accounts	$	94		$	98		$	110		$	113		$	122		$	302		$	359
NOW accounts		18,808			21,111			18,915			18,390			18,795			58,834			57,293
Money market accounts		15,390			15,323			15,372			15,909			17,485			46,085			52,083
Certificate of deposit accounts		22,766			22,443			22,710			25,258			29,676			67,919			74,977
Total due to depositors		57,058			58,975			57,107			59,670			66,078			173,140			184,712
Mortgagors' escrow accounts		79			62			67			58			72			208			196
Total interest-bearing deposits		57,137			59,037			57,174			59,728			66,150			173,348			184,908
Borrowings		5,504			5,156			6,373			9,077			10,840			17,033			29,638
Total interest-bearing liabilities		62,641			64,193			63,547			68,805			76,990			190,381			214,546
Net interest income- tax equivalent	$	53,924		$	53,305		$	53,085		$	51,333		$	45,703		$	160,314		$	131,074
Included in net interest income above:
Episodic items ⁽¹⁾	$	1,498		$	878		$	294		$	648		$	1,647		$	2,670		$	2,944
Net gains/(losses) from fair value adjustments on hedges included in net interest income		94			64			56			2,911			554			214			544
Purchase accounting adjustments		191			257			252			191			155			700			608
Interest-earning Assets Yields:
Loans held for sale		—	%		4.00	%		4.14	%		3.67	%		—	%		4.14	%		—	%
Mortgage loans, net		5.71			5.64			5.50			5.47			5.59			5.62			5.44
Commercial Business loans, net		5.94			5.79			5.66			5.87			6.04			5.80			5.94
Total loans, net		5.76			5.68			5.54			5.55			5.69			5.66			5.55
Mortgage-backed securities		5.53			5.42			5.60			6.04			5.06			5.52			4.41
Other taxable securities, net		5.92			5.68			5.85			6.06			6.40			5.81			6.16
Other tax-exempt securities ⁽²⁾		4.24			4.21			4.16			2.91			2.91			4.21			2.89
Total securities, net		5.64			5.49			5.65			5.92			5.52			5.59			5.14
Interest-earning deposits and federal funds sold		3.86			3.99			3.95			4.22			4.91			3.94			4.98
Total interest-earning assets⁽¹⁾		5.70	%		5.59	%		5.51	%		5.60	%		5.63	%		5.60	%		5.46	%
Interest-bearing Liabilities Yields:
Deposits:
Savings accounts		0.41	%		0.41	%		0.45	%		0.45	%		0.48	%		0.42	%		0.46	%
NOW accounts		3.49			3.54			3.41			3.63			3.99			3.48			3.93
Money market accounts		3.67			3.68			3.58			3.77			4.18			3.64			4.07
Certificate of deposit accounts		3.72			3.62			3.50			3.77			4.12			3.61			3.88
Total due to depositors		3.58			3.56			3.45			3.68			4.04			3.53			3.89
Mortgagors' escrow accounts		0.39			0.24			0.34			0.27			0.40			0.31			0.33
Total interest-bearing deposits		3.54			3.51			3.41			3.63			4.00			3.49			3.84
Borrowings		4.67			4.64			4.59			4.78			4.89			4.63			4.90
Total interest-bearing liabilities		3.62	%		3.58	%		3.50	%		3.75	%		4.10	%		3.57	%		3.96	%
Net interest rate spread (tax equivalent)⁽¹⁾		2.08	%		2.01	%		2.01	%		1.85	%		1.53	%		2.03	%		1.50	%
Net interest margin (tax equivalent)⁽¹⁾		2.64	%		2.54	%		2.51	%		2.39	%		2.10	%		2.56	%		2.07	%
Ratio of interest-earning assets to interest-bearing liabilities		1.18	X		1.17	X		1.17	X		1.17	X		1.16	X		1.17	X		1.17	X

⁽¹⁾

Episodic items include prepayment penalty income, net reversals and recovered interest from nonaccrual and delinquent loans, and swap terminations fees.

⁽²⁾

Yields are calculated on the tax equivalent basis using the statutory federal income tax rate of 21% for the periods presented.

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌11

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

DEPOSIT and LOAN COMPOSITION

(Unaudited)

Deposit Composition


											3Q25 vs.		3Q25 vs.
	September 30,		June 30,		March 31,		December 31,		September 30,		2Q25		3Q24
(Dollars in thousands)	2025		2025		2025		2024		2024		% Change		% Change
Noninterest bearing	$	964,767	$	899,602	$	863,714	$	836,545	$	860,930	7.2	%	12.1	%
Interest bearing:
Certificate of deposit accounts		2,419,039		2,452,624		2,592,026		2,650,164		2,875,486	(1.4)		(15.9)
Savings accounts		91,089		92,699		97,624		98,964		100,279	(1.7)		(9.2)
Money market accounts		1,714,184		1,601,948		1,681,608		1,686,109		1,659,027	7.0		3.3
NOW accounts		2,143,752		2,174,124		2,393,482		1,854,069		2,003,301	(1.4)		7.0
Total interest-bearing deposits		6,368,064		6,321,395		6,764,740		6,289,306		6,638,093	0.7		(4.1)
Total due to depositors		7,332,831		7,220,997		7,628,454		7,125,851		7,499,023	1.5		(2.2)
Mortgagors' escrow deposits		82,697		68,355		89,764		53,082		73,372	21.0		12.7
Total deposits	$	7,415,528	$	7,289,352	$	7,718,218	$	7,178,933	$	7,572,395	1.7	%	(2.1)	%

Loan Composition


											3Q25 vs.		3Q25 vs.
	September 30,		June 30,		March 31,		December 31,		September 30,		2Q25		3Q24
(Dollars in thousands)	2025		2025		2025		2024		2024		% Change		% Change
Multifamily residential	$	2,442,555	$	2,487,610	$	2,531,628	$	2,527,222	$	2,638,863	(1.8)	%	(7.4)	%
Commercial real estate		1,960,009		1,987,523		1,953,710		1,973,124		1,929,093	(1.4)		1.6
One-to-four family ― mixed use property		482,933		493,846		501,562		511,222		515,511	(2.2)		(6.3)
One-to-four family ― residential		335,592		258,608		269,492		244,282		252,293	29.8		33.0
Construction		51,638		46,798		63,474		60,399		63,674	10.3		(18.9)
Mortgage loans		5,272,727		5,274,385		5,319,866		5,316,249		5,399,434	—		(2.3)

Small Business Administration		11,439		15,473		14,713		19,925		19,368	(26.1)		(40.9)
Commercial business and other		1,372,598		1,407,792		1,396,597		1,401,602		1,387,965	(2.5)		(1.1)
Commercial Business loans		1,384,037		1,423,265		1,411,310		1,421,527		1,407,333	(2.8)		(1.7)

Gross loans		6,656,764		6,697,650		6,731,176		6,737,776		6,806,767	(0.6)		(2.2)
Net unamortized (premiums) and unearned loan (cost) fees ⁽¹⁾		13,569		11,951		10,659		8,072		11,561	13.5		17.4
Allowance for credit losses		(41,837)		(41,247)		(40,037)		(40,152)		(40,342)	1.4		3.7
Net loans	$	6,628,496	$	6,668,354	$	6,701,798	$	6,705,696	$	6,777,986	(0.6)	%	(2.2)	%

⁽¹⁾	Includes $2.1 million, $2.3 million, $2.6 million, $2.8 million, and $3.1 million of purchase accounting unamortized discount resulting from the acquisition of Empire Bancorp at September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024, and September 30, 2024, respectively.

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌12

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

LOAN CLOSINGS and RATES

(Unaudited)

Loan Closings


	For the three months ended										For the nine months ended
	September 30,		June 30,		March 31,		December 31,		September 30,			September 30,	September 30,
(In thousands)	2025		2025		2025		2024		2024		2025		2024
Multifamily residential	$	17,674	$	8,546	$	21,183	$	25,232	$	50,528	$	47,403	$	90,299
Commercial real estate		40,199		57,533		22,916		75,285		56,713		120,648		87,326
One-to-four family – mixed use property		3,580		3,039		1,842		6,622		5,709		8,461		10,439
One-to-four family – residential		86,589		411		35,206		739		1,705		122,206		54,933
Construction		4,839		2,469		3,275		9,338		5,063		10,583		11,552
Mortgage loans		152,881		71,998		84,422		117,216		119,718		309,301		254,549

Small Business Administration		528		2,457		1,250		1,368		5,930		4,235		5,930
Commercial business and other		99,351		84,721		88,404		106,580		91,447		272,476		212,564
Commercial Business loans		99,879		87,178		89,654		107,948		97,377		276,711		218,494

Total Closings	$	252,760	$	159,176	$	174,076	$	225,164	$	217,095	$	586,012	$	473,043

Weighted Average Rate on Loan Closings


	For the three months ended
	September 30,		June 30,		March 31,		December 31,		September 30,
Loan type	2025		2025		2025		2024		2024
Mortgage loans	6.44	%	6.87	%	6.68	%	7.12	%	7.31	%
Commercial Business loans	7.14		7.25		7.28		7.45		7.75
Total loans	6.72	%	7.08	%	6.99	%	7.28	%	7.51	%

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌13

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

ASSET QUALITY

(Unaudited)

Allowance for Credit Losses


	For the three months ended															For the nine months ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
(Dollars in thousands)	2025			2025			2025			2024			2024			2025			2024
Allowance for credit losses - loans
Beginning balances	$	41,247		$	40,037		$	40,152		$	40,342		$	41,648		$	40,152		$	40,161

Net loan charge-off (recoveries):
Multifamily residential		372			1,677			4			(1)			—			2,053			(1)
Commercial real estate		1,275			72			—			421			—			1,347			—
One-to-four family – mixed-use property		20			—			—			—			—			20			(2)
One-to-four family – residential		—			—			—			(41)			(58)			—			(47)
Small Business Administration		271			(4)			(40)			(4)			(1)			227			(97)
Taxi medallion		—			—			—			—			—			—			—
Commercial business and other		(848)			804			4,463			4,361			3,095			4,419			3,095
Total net loan charge-offs (recoveries)		1,090			2,549			4,427			4,736			3,036			8,066			2,948

Provision (benefit) for loan losses		1,680			3,759			4,312			4,546			1,730			9,751			3,129

Ending balance	$	41,837		$	41,247		$	40,037		$	40,152		$	40,342		$	41,837		$	40,342

Gross charge-offs	$	2,024		$	2,857		$	4,471		$	4,790		$	3,110		$	9,352		$	3,179
Gross recoveries		934			308			44			54			74			1,286			231

Allowance for credit losses - loans to gross loans		0.63	%		0.62	%		0.59	%		0.60	%		0.59	%		0.63	%		0.59	%
Net loan charge-offs (recoveries) to average loans		0.07			0.15			0.27			0.28			0.18			0.16			0.06

Nonperforming Assets


	September 30,			June 30,			March 31,			December 31,			September 30,
(Dollars in thousands)	2025			2025			2025			2024			2024
Nonaccrual Loans:
Multifamily residential		12,970			12,364			25,952			11,031			9,478
Commercial real estate		21,786			23,481			6,703			6,283			6,705
One-to-four family - mixed-use property		—			422			426			116			369
One-to-four family - residential		1,351			2,277			1,225			1,428			1,493
Small Business Administration		554			2,445			2,445			2,445			2,445
Commercial business and other		8,190			8,258			9,512			12,015			13,771
Total Nonaccrual loans		44,851			49,247			46,263			33,318			34,261

Total Nonperforming Loans (NPLs)		44,851			49,247			46,263			33,318			34,261

Other Nonperforming Assets:
Real estate acquired through foreclosure		—			—			—			—			—
Total Other nonperforming assets		—			—			—			—			—
Total Nonaccrual Securities		17,278			16,878			18,000			18,000			20,627

Total Nonperforming Assets	$	62,129		$	66,125		$	64,263		$	51,318		$	54,888

Nonperforming Assets to Total Assets		0.70	%		0.75	%		0.71	%		0.57	%		0.59	%
Allowance for Credit Losses to NPLs		93.3	%		83.8	%		86.5	%		120.5	%		117.7	%

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌14

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

RECONCILIATION OF GAAP EARNINGS (LOSS) and CORE EARNINGS

Non-cash Fair Value Adjustments to GAAP Earnings (Loss)

The variance in GAAP earnings (loss) and core earnings is partly driven by the impact of non-cash net gains and losses from fair value adjustments. These fair value adjustments relate primarily to borrowings carried at fair value under the fair value option.

Core Net Income, Core Diluted EPS, Core ROAE, Core ROAA, Pre-provision Pre-tax Net Revenue, Core Net Interest Income FTE, Core Net Interest Margin FTE, Core Interest Income and Yield on Total Loans, Core Noninterest Income, Core Noninterest Expense and Tangible Book Value per common share are each non-GAAP measures used in this release. A reconciliation to the most directly comparable GAAP financial measures appears below in tabular form. The Company believes that these measures are useful for both investors and management to understand the effects of certain interest and noninterest items and provide an alternative view of the Company’s performance over time and in comparison, to the Company’s competitors. These measures should not be viewed as a substitute for net income. The Company believes that tangible book value per common share is useful for both investors and management as this measure is commonly used by financial institutions, regulators, and investors to measure the capital adequacy of financial institutions. The Company believes these measures facilitate comparison of the quality and composition of the Company’s capital over time and in comparison, to its competitors. These measures should not be viewed as a substitute for total shareholders’ equity.

These non-GAAP measures have inherent limitations, are not required to be uniformly applied and are not audited. They should not be considered in isolation or as a substitute for analysis of results reported under GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies.

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌15

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

RECONCILIATION OF GAAP EARNINGS (LOSS) and CORE EARNINGS

(Unaudited)


	For the three months ended															For the nine months ended
(Dollars in thousands,	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
except per share data)	2025			2025			2025			2024			2024			2025			2024

GAAP income (loss) before income taxes	$	13,678		$	18,936		$	(5,931)		$	(71,857)		$	11,457		$	26,683		$	23,590

Net (gain) loss from fair value adjustments (Noninterest income (loss))		1,831			(1,656)			152			1,136			(974)			327			(197)
Net loss on sale of securities (Noninterest income (loss))		(661)			—			—			72,315			—			(661)			—
Life insurance proceeds (Noninterest income (loss))		—			—			—			(284)			(1)			—			(1)
Valuation allowance on loans transferred to held for sale (Noninterest income (loss))		—			(2,590)			194			3,836			—			(2,396)			—
Net (gain) loss from fair value adjustments on hedges (Net interest income)		(94)			(64)			(56)			(2,911)			(554)			(214)			(544)
Prepayment penalty on borrowings (Noninterest expense)		—			—			—			2,572			—			—			—
Net amortization of purchase accounting adjustments and intangibles (Various)		(113)			(176)			(167)			(101)			(62)			(456)			(316)
Impairment of goodwill (Noninterest expense)		—			—			17,636			—			—			17,636			—
Miscellaneous expense (Professional services)		1,053			395			(1)			218			10			1,447			504

Core income before taxes		15,694			14,845			11,827			4,924			9,876			42,366			23,036

Provision for core income taxes		3,737			3,683			3,896			715			2,153			11,316			5,545

Core net income	$	11,957		$	11,162		$	7,931		$	4,209		$	7,723		$	31,050		$	17,491

GAAP diluted earnings (loss) per common share	$	0.30		$	0.41		$	(0.29)		$	(1.64)		$	0.30		$	0.43		$	0.60
Net (gain) loss from fair value adjustments, net of tax		0.04			(0.04)			—			0.03			(0.03)			—			(0.01)
Net (gain) loss on sale of securities, net of tax		(0.01)			—			—			1.65			—			(0.01)			—
Life insurance proceeds		—			—			—			(0.01)			—			—			—
Valuation allowance on loans transferred to held for sale, net of tax		—			(0.06)			—			0.09			—			(0.06)			—
Net (gain) loss from fair value adjustments on hedges, net of tax		—			—			—			(0.05)			(0.01)			—			(0.01)
Prepayment penalty on borrowings, net of tax		—			—			—			0.04			—			—			—
Net amortization of purchase accounting adjustments, net of tax		—			—			—			—			—			—			(0.01)
Impairment of goodwill		—			—			0.51			—			—			0.51			—
Miscellaneous expense, net of tax		0.02			0.01			—			—			—			0.03			0.01
Loss not attributable to participating securities		—			—			—			0.03			—			—			—

Core diluted earnings per common share⁽¹⁾	$	0.35		$	0.32		$	0.23		$	0.14		$	0.26		$	0.90		$	0.59

Core net income, as calculated above	$	11,957		$	11,162		$	7,931		$	4,209		$	7,723		$	31,050		$	17,491
Average assets		8,702,227			8,918,075			9,015,880			9,060,481			9,203,884			8,877,578			8,915,076
Average equity		712,600			709,839			731,592			662,190			672,762			717,941			669,845
Core return on average assets⁽²⁾		0.55	%		0.50	%		0.35	%		0.19	%		0.34	%		0.47	%		0.26	%
Core return on average equity⁽²⁾		6.71	%		6.29	%		4.34	%		2.54	%		4.59	%		5.77	%		3.48	%

⁽¹⁾

Core diluted earnings per common share may not foot due to rounding.

⁽²⁾

Ratios are calculated on an annualized basis.

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌16

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

RECONCILIATION OF GAAP REVENUE and PRE-PROVISION

PRE-TAX NET REVENUE

(Unaudited)


	For the three months ended															For the nine months ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
(Dollars in thousands)	2025			2025			2025			2024			2024			2025			2024

GAAP Net interest income	$	53,828		$	53,209		$	52,989		$	51,235		$	45,603		$	160,026		$	130,776
Net (gain) loss from fair value adjustments on hedges		(94)			(64)			(56)			(2,911)			(554)			(214)			(544)
Net amortization of purchase accounting adjustments		(191)			(257)			(252)			(191)			(155)			(700)			(608)
Core Net interest income	$	53,543		$	52,888		$	52,681		$	48,133		$	44,894		$	159,112		$	129,624

GAAP Noninterest income (loss)	$	4,746		$	10,277		$	5,074		$	(71,022)		$	6,277		$	20,097		$	13,577
Net (gain) loss from fair value adjustments		1,831			(1,656)			152			1,136			(974)			327			(197)
Net loss on sale of securities		(661)			—			—			72,315			—			(661)			—
(Reversal) Valuation allowance on loans transferred to held for sale		—			(2,590)			194			3,836			—			(2,396)			—
Life insurance proceeds		—			—			—			(284)			(1)			—			(1)
Core Noninterest income	$	5,916		$	6,031		$	5,420		$	5,981		$	5,302		$	17,367		$	13,379

GAAP Noninterest expense	$	43,365		$	40,356		$	59,676		$	45,630		$	38,696		$	143,397		$	117,635
Prepayment penalty on borrowings		—			—			—			(2,572)			—			—			—
Net amortization of purchase accounting adjustments		(78)			(81)			(85)			(90)			(93)			(244)			(292)
Impairment of goodwill		—			—			(17,636)			—			—			(17,636)			—
Miscellaneous expense		(1,053)			(395)			1			(218)			(10)			(1,447)			(504)
Core Noninterest expense	$	42,234		$	39,880		$	41,956		$	42,750		$	38,593		$	124,070		$	116,839

Net interest income	$	53,828		$	53,209		$	52,989		$	51,235		$	45,603		$	160,026		$	130,776
Noninterest income (loss)		4,746			10,277			5,074			(71,022)			6,277			20,097			13,577
Noninterest expense		(43,365)			(40,356)			(59,676)			(45,630)			(38,696)			(143,397)			(117,635)
Pre-provision pre-tax net (loss) revenue	$	15,209		$	23,130		$	(1,613)		$	(65,417)		$	13,184		$	36,726		$	26,718

Core:
Net interest income	$	53,543		$	52,888		$	52,681		$	48,133		$	44,894		$	159,112		$	129,624
Noninterest income		5,916			6,031			5,420			5,981			5,302			17,367			13,379
Noninterest expense		(42,234)			(39,880)			(41,956)			(42,750)			(38,593)			(124,070)			(116,839)
Pre-provision pre-tax net revenue	$	17,225		$	19,039		$	16,145		$	11,364		$	11,603		$	52,409		$	26,164
Efficiency Ratio		71.0	%		67.7	%		72.2	%		79.0	%		77.2	%		70.3	%		81.8	%

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌17

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

RECONCILIATION OF GAAP NET INTEREST INCOME and NET INTEREST MARGIN

to CORE NET INTEREST INCOME

(Unaudited)


	For the three months ended															For the nine months ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
(Dollars in thousands)	2025			2025			2025			2024			2024			2025			2024
GAAP net interest income	$	53,828		$	53,209		$	52,989		$	51,235		$	45,603		$	160,026		$	130,776
Net (gain) loss from fair value adjustments on hedges		(94)			(64)			(56)			(2,911)			(554)			(214)			(544)
Net amortization of purchase accounting adjustments		(191)			(257)			(252)			(191)			(155)			(700)			(608)
Tax equivalent adjustment		96			96			96			98			100			288			298
Core net interest income FTE	$	53,639		$	52,984		$	52,777		$	48,231		$	44,994		$	159,400		$	129,922
Episodic items ⁽¹⁾		(1,498)			(878)			(294)			(648)			(1,647)			(2,670)			(2,944)
Net interest income FTE excluding episodic items	$	52,141		$	52,106		$	52,483		$	47,583		$	43,347		$	156,730		$	126,978

Total average interest-earning assets ⁽²⁾	$	8,183,818		$	8,405,053		$	8,471,609		$	8,590,022		$	8,712,443		$	8,352,437		$	8,437,288
Core net interest margin FTE		2.62	%		2.52	%		2.49	%		2.25	%		2.07	%		2.54	%		2.05	%
Net interest margin FTE excluding episodic items		2.55	%		2.48	%		2.48	%		2.22	%		1.99	%		2.50	%		2.01	%

GAAP interest income on total loans, net ⁽³⁾	$	94,970		$	94,758		$	92,368		$	94,104		$	95,780		$	282,096		$	281,467
Net (gain) loss from fair value adjustments on hedges - loans		(94)			(64)			(56)			29			(364)			(214)			(378)
Net amortization of purchase accounting adjustments		(195)			(260)			(252)			(216)			(168)			(707)			(661)
Core interest income on total loans, net	$	94,681		$	94,434		$	92,060		$	93,917		$	95,248		$	281,175		$	280,428

Average total loans, net ⁽²⁾	$	6,597,315		$	6,681,009		$	6,674,665		$	6,783,264		$	6,740,579		$	6,650,712		$	6,766,650
Core yield on total loans		5.74	%		5.65	%		5.52	%		5.54	%		5.65	%		5.64	%		5.53	%

⁽¹⁾	Episodic items include prepayment penalty income, net reversals and recovered interest from nonaccrual and delinquent loans, and swap terminations fees.

⁽²⁾	Excludes purchase accounting average balances for all periods presented.

⁽³⁾	Excludes interest income from loans held for sale.

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌18

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

CALCULATION OF TANGIBLE STOCKHOLDERS’

COMMON EQUITY to TANGIBLE ASSETS

(Unaudited)


	September 30,			June 30,			March 31,			December 31,			September 30,
(Dollars in thousands)	2025			2025			2025			2024			2024
Total Equity	$	711,226		$	706,377		$	702,851		$	724,539		$	666,891
Less:
Goodwill		—			—			—			(17,636)			(17,636)
Core deposit intangibles		(854)			(940)			(1,029)			(1,123)			(1,220)
Tangible Stockholders' Common Equity	$	710,372		$	705,437		$	701,822		$	705,780		$	648,035

Total Assets	$	8,871,991		$	8,776,524		$	9,008,396		$	9,038,972		$	9,280,886
Less:
Goodwill		—			—			—			(17,636)			(17,636)
Core deposit intangibles		(854)			(940)			(1,029)			(1,123)			(1,220)
Tangible Assets	$	8,871,137		$	8,775,584		$	9,007,367		$	9,020,213		$	9,262,030

Tangible Stockholders' Common Equity to Tangible Assets		8.01	%		8.04	%		7.79	%		7.82	%		7.00	%

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌19