Quarterly ResultApr 28, 2026, 05:17 PM
FFIC Q1 GAAP EPS $0.17, Core EPS $0.29; NIM +16 bps YoY
AI Summary
Flushing Financial Corporation reported strong first quarter 2026 results, with GAAP EPS of $0.17 and Core EPS of $0.29, significantly improving from a year ago. The company achieved a 16 basis point year-over-year expansion in its net interest margin to 2.67%, driven by lower deposit costs and a 12.9% increase in noninterest bearing deposits. The loan pipeline also saw substantial growth, increasing 54.9% year-over-year to $327.4 million, as the company progresses towards its transaction with OceanFirst Financial Corp.
Key Highlights
- Q1 2026 GAAP EPS was $0.17, compared to ($0.29) in 1Q25.
- Q1 2026 Core EPS was $0.29, up 26.1% from $0.23 in 1Q25.
- Net Interest Margin (GAAP) expanded 16 bps YoY to 2.67%.
- Noninterest bearing deposits grew 12.9% YoY to $995.5 million.
- Loan pipeline increased 54.9% YoY and 18.8% QoQ to $327.4 million.
- Net charge-offs were $0.5 million (3 bps of average loans) in 1Q26, down from $4.4 million (27 bps) in 1Q25.
- Tangible Common Equity to Tangible Assets was 7.86% at March 31, 2026.