Did Flushing Financial beat or miss consensus estimates last quarter?

What is the market's earnings forecast for Flushing Financial next quarter?

What is Flushing Financial's gross profit margin?

What does Flushing Financial do and what are its main business segments?

What is the revenue and EPS growth rate for Flushing Financial year over year?

What factors drove the changes in Flushing Financial's revenue and profit?

What is Flushing Financial's latest dividend and current dividend yield?

What were the key takeaways from Flushing Financial’s earnings call?

- **NIM Expansion Accelerates**: Core NIM up 10 bps Q/Q to 2.62%, with $2B in loans repricing 147 bps higher by 2027.
- **Deposit Growth Strengthens**: Noninterest-bearing deposits +5.7% YoY, with $1.8B repriced 20-25 bps lower in Q3.
- **Credit Quality Exceptional**: Net charge-offs at 7 bps, multifamily debt coverage ratio 1.7x, and LTV <35% across portfolio.
- **2027 ROE Target**: Double-digit ROTCE achievable as $2B loan repricing pipeline drives NIM expansion.
- **Liquidity Buffer**: $3.9B undrawn lines and 17% uninsured deposits support capital flexibility.
- **Shareholder Returns**: Maintaining dividend focus while preparing for portfolio growth, no buybacks despite 63% TBV discount.

**【CEO Summary Section】**
- Reported GAAP EPS of $0.30 and core EPS of $0.35, with core EPS up 55% year-over-year.
- Net interest margin (NIM) expanded 10 basis points (bps) quarter-over-quarter to 2.64% (GAAP) and 2.62% (core), driven by loan repricing and asset mix improvements.
- Nonperforming assets improved to 70 basis points of total assets, down from 75 basis points in Q2.
- Noninterest-bearing deposits grew 7.2% sequentially and 5.7% year-over-year, supporting liquidity.
- Tangible common equity ratio remained stable at 8.01%, up 101 bps year-over-year.
- 2026-2027 loan repricing pipeline of $2 billion (1/3 of total loans) expected to drive NIM expansion.

**【CFO Financial Commentary】**
- Core net interest income increased $8.6 million (19% YoY), with loan yields up 8 bps and security yields up 15 bps.
- $175 million of loans repriced 128 bps higher in Q4, with $2 billion of loans scheduled to reprice 147 bps higher by 2027.
- Deposit cost management: $1.8 billion of deposits repriced 20-25 bps lower in Q3, with CD maturities of $770 million at 3.98% in Q4.
- Credit quality: Net charge-offs at 7 bps, multifamily debt coverage ratio at 1.7x, and LTV <35% across portfolio.
- Capital allocation: Maintaining dividend focus while preparing for portfolio growth, with no buybacks despite 63% TBV discount.

**【Q&A Key Highlights】**
- **NIM Outlook**: Q4 NIM expected to remain near 2.88%, with $175M of repricing loans and no swap maturities.
- **Deposit Beta**: Nonmaturity deposit rates expected to closely follow Fed cuts, with Q3 repricing of $1.8B deposits 20-25 bps lower.
- **Balance Sheet**: Liability-sensitive positioning with modest beta to rate cuts; $3.9B undrawn lines provide liquidity buffer.
- **ROE Target**: Double-digit ROTCE achievable by late 2027 as loan repricing pipeline materializes.
- **Buyback Policy**: Prioritizing dividend and portfolio growth over buybacks despite undervaluation.
- **Swaps Management**: $180M of forward-starting swaps to mitigate $480M of maturing swaps at low rates.
- **Pipeline Execution**: $59M of back-to-back swaps expected to close by year-end, supporting fee income.


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