FFIC earnings analysis
What we found in FFIC's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Flushing Financial reported Q1 2026 results, showing net income of $5.8 million or $0.17 per diluted share, a significant improvement from a loss of $9.8 million or -$0.29 per share in Q1 2025. This performance was driven by an increase in net interest income despite a decline in total revenue compared to the previous quarter, signaling ongoing profitability potential amid regulatory uncertainty due to a pending merger with OceanFirst.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Significant EPS Improvement
- EPS grew to $0.17 in Q1 2026 from a loss of $0.29 in Q1 2025, marking an increase of 159.5%.
- Improved Net Interest Margin
- Net interest margin improved by 16 basis points to 2.67% from 2.51% year-over-year.
- Increased Noninterest Deposits
- Noninterest-bearing deposits rose by 12.9%, amounting to $995.5 million.
- Reduction in Non-interest Expense
- Non-interest expenses decreased by $12.9 million, or 21.6%, mostly due to a prior year goodwill impairment.
- Growth in Total Assets
- Total assets increased by 2.0% to $8.86 billion from $8.69 billion at year-end 2025.
- Increase in Operating Income
- Income before income taxes increased to $8.2 million compared to a loss of $5.9 million a year ago.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Pending Merger Completion
- Completion of the merger with OceanFirst is pending, which could introduce operational and regulatory risks.
- Decrease in Interest Income
- Interest and dividend income fell by $3.5 million, or 3.0%, primarily due to a decline in average interest-earning assets.
- Non-Performing Loans Increase
- Non-performing loans rose to $50.6 million, accounting for 0.77% of total loans, up from 0.63% at December 31, 2025.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.17
What they said about what is next.
Management did not provide numeric guidance but anticipates merger completion by June 1, 2026.
The filing reads better than the one before it.
What came before.
- 10-K · March 6, 2026
- Flushing Financial (FFIC) reports a community-bank business focused on multi-family and commercial real estate lending in the New York metro area, with total assets of $8.7 billion, deposits of $7.3 billion and gross…
- 10-Q · August 7, 2025
- Flushing Financial reported a strong second quarter (ended June 30, 2025) with total revenue of $63,486,000 and diluted EPS of $0.41, driven by higher net interest income and non-interest income. Quarter-over-quarter…
- 10-Q · May 7, 2025
- Flushing Financial reported Q1 2025 revenue (net interest income plus non-interest income) of $58,063,000, up $7,037,000 versus Q1 2024, driven by higher net interest income. However, the company recorded a $17.636…
- 10-Q · November 7, 2023
- Flushing Financial reported Q3 results with total revenue of $47,903 (thousands) and diluted EPS of $0.32; the quarter beat consensus but results show large year-over-year compression. Net income fell to $9,399…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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