Form 8-K

8-K — FLUSHING FINANCIAL CORP

Accession: 0000923139-26-000012

Filed: 2026-04-28

Period: 2026-04-28

CIK: 0000923139

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ffic-20260428x8k.htm (Primary)

EX-99 — EX-99.1 (ffic-20260428xex99.htm)

GRAPHIC (ffic-20260428xex99002.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: ffic-20260428x8k.htm · Sequence: 1

FLUSHING FINANCIAL CORPORATION_April 28, 2026

0000923139false00009231392026-04-282026-04-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 28, 2026

FLUSHING FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

001-33013

(Commission File Number)

Delaware

(State or Other Jurisdiction of Incorporation)

11-3209278

(I.R.S. Employer Identification No.)

220 RXR Plaza, Uniondale, NY 11556

(Address of principal executive offices)

(718) 961-5400

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.01 par value

FFIC

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On April 28, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

Exhibit 99.1 Press release dated April 28, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

usa

FLUSHING FINANCIAL CORPORATION

Date: April 28, 2026

By:

/s/ SUSAN K. CULLEN

Susan K. Cullen

Senior Executive Vice President and Chief Financial Officer

EX-99 — EX-99.1

EX-99

Filename: ffic-20260428xex99.htm · Sequence: 2

Flushing Financial 3Q25 Earnings Press Release;

Exhibit 99.1

●

John R. Buran, President and CEO Commentary

Flushing Financial Corporation Reports First Quarter 2026 Results;

Net Interest Margin Expands 16 Basis Points Year Over Year;

1Q26 GAAP and Core EPS of $0.17 and $0.29, Respectively

"Our first quarter results demonstrate the strength of this franchise as we move toward closing our transaction with OceanFirst Financial Corp. Noninterest bearing deposits grew to $995.5 million, up 15% year over year, and our cost of funds declined 13 basis points from the prior quarter, driving a net interest rate margin that has expanded 16 basis points year over year. Core net income grew 25% year over year, driven by sustained net interest income growth and an improved funding mix. With a loan pipeline of $327.4 million at quarter end, up 55% year over year, we enter this next chapter from a position of strength. We look forward to completing the transaction with OceanFirst Financial Corp. and to the expanded capabilities and opportunities their platform will bring to the customers and communities we serve."

- John R. Buran, President and CEO

UNIONDALE, N.Y., April 28, 2026 – Net Interest Margin Expansion and Noninterest Deposit Growth. The Company reported 1Q26 GAAP and Core EPS of $0.17 and $0.29, compared to ($0.29) and $0.23, respectively, a year ago. During the quarter, NIM on a GAAP basis expanded 16 basis points year over year to 2.67% while Core NIM expanded 17 basis points year over year, driven by lower deposit costs and growth in noninterest bearing deposits. Average net loans decreased 2.0% YoY and 0.8% QoQ consistent with the Company's focus on disciplined pricing and credit standards. The loan pipeline increased 54.9% year over year and 18.8% quarter over quarter to $327.4 million at March 31, 2026.

Stable Capital and Stable Credit Metrics. NPAs to assets were 77 bps, compared to 71 bps a year ago and 68 bps in the prior quarter. Net charge-offs to average loans were 3 bps in 1Q26, compared to 27 bps in 1Q25 and 11 bps in 4Q25. TCE/TA1 was 7.86% at March 31, 2026, compared to 7.79% a year ago and 8.14% at December 31, 2025.

Key Financial Metrics2

1Q26

4Q25

3Q25

2Q25

1Q25

GAAP:

Earnings (Loss) per Share

$0.17

$0.12

$0.30

$0.41

($0.29)

ROAA (%)

0.26

0.18

0.48

0.64

(0.43)

ROAE (%)

3.26

2.24

5.86

8.00

(5.36)

NIM FTE3 (%)

2.67

2.68

2.64

2.54

2.51

Core:

EPS

$0.29

$0.32

$0.35

$0.32

$0.23

ROAA (%)

0.45

0.49

0.55

0.50

0.35

ROAE (%)

5.56

6.08

6.71

6.29

4.34

Core NIM FTE (%)

2.66

2.62

2.52

2.49

Credit Quality:

NPAs/Assets (%)

0.77

0.68

0.70

0.75

0.71

ACLs/Loans (%)

0.68

0.64

0.63

0.62

0.59

ACLs/NPLs (%)

87.92

102.98

93.28

83.76

86.54

NCOs/Avg Loans (%)

0.03

0.11

0.07

0.15

0.27

Balance Sheet:

Avg Loans ($B)

$6.5

$6.6

$6.7

Avg Dep ($B)

$7.5

$7.3

$7.6

Book Value/Share

$20.58

$20.96

$21.06

$20.91

$20.81

Tangible BV/Share

$20.56

$20.94

$21.03

$20.89

$20.78

TCE/TA (%)

7.86

8.14

8.01

8.04

7.79

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, Chief Financial Officer, 718-961-5400‌1

1Q26 Highlights

●

Net interest margin FTE increased 16 bps YoY and decreased 1 bp QoQ to 2.67%; Core net interest margin FTE increased 17 bps YoY and stayed flat QoQ to 2.66%; Prepayment penalty income, net reversals and recovered interest from nonaccrual and delinquent loans, net gains and losses from fair value adjustments on hedges, and purchase accounting accretion totaled 5 bps in 1Q26 compared to 3 bps in 1Q25 and 8 bps in 4Q25

●

Average total deposits decreased 0.9% YoY and 0.1% QoQ to $7.5 billion; Average noninterest bearing deposits increased 12.9% YoY but decreased 0.5% QoQ totaling 12.9% of total average deposits compared to 11.3% in 1Q25 and 12.9% in 4Q25; Average CDs were $2.3 billion, down 12.8% YoY and 2.8% QoQ

●

Period end loans decreased 2.7% YoY and 1.4% QoQ to $6.6 billion; Back-to-back swap loan originations were $25.1 million compared to $18.0 million in 1Q25 and $45.5 million in 4Q25 and generated $0.4 million, $0.3 million, and $0.7 million of noninterest income, respectively; Loan pipeline increased 54.9% YoY and 18.8% QoQ to $327.4 million; Approximately 13.6% of the loan pipeline consists of back-to-back swap loans

●

NPAs totaled $68.2 million (77 bps of assets) in 1Q26 compared to $64.3 million (71 bps of assets) a year ago and $58.8 million (68 bps of assets) in the prior quarter

●

Provision for credit losses was $2.0 million in 1Q26 compared to $4.3 million in 1Q25 and $2.7 million in 4Q25; Net charge-offs were $0.5 million in 1Q26 compared to $4.4 million in 1Q25 and $1.8 million in 4Q25; Allowance for loan losses to gross loans totaled 0.68% in 1Q26 compared to 0.59% in 1Q25 and 0.64% in 4Q25

●

Tangible Common Equity to Tangible Assets was 7.86% at March 31, 2026, compared to 7.79% at March 31, 2025, and 8.14% at December 31, 2025; Tangible book value per share was $20.56 at March 31, 2026, compared to $20.78 a year ago and $20.94 for the prior quarter

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌2

Income Statement Highlights

YoY

QoQ

($000s, except EPS)

1Q26

4Q25

3Q25

2Q25

1Q25

Change

Net Interest Income

$55,194

$55,506

$53,828

$53,209

$52,989

4.2

(0.6)

Provision for Credit Losses

2,011

2,745

1,531

4,194

4,318

(53.4)

(26.7)

Noninterest Income (Loss)

1,785

3,303

4,746

10,277

5,074

(64.8)

(46.0)

Noninterest Expense

46,775

48,228

43,365

40,356

59,676

(21.6)

(3.0)

Income (Loss) Before Income Taxes

8,193

7,836

13,678

18,936

(5,931)

238.1

4.6

Provision (Benefit) for Income Taxes

2,360

3,810

3,231

4,733

3,865

(38.9)

(38.1)

Net Income (Loss)

$5,833

$4,026

$10,447

$14,203

($9,796)

159.5

44.9

Diluted Earnings (Loss) per Common Share

$0.17

$0.12

$0.30

$0.41

($0.29)

158.6

41.7

Core Net Income1

$9,940

$10,918

$11,957

$11,162

$7,931

25.3

(9.0)

Core EPS1

$0.29

$0.32

$0.35

$0.32

$0.23

26.1

(9.4)

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

Net interest income increased YoY and decreased QoQ.

● Net Interest Margin FTE of 2.67% increased 16 bps YoY but decreased 1 bp QoQ; The yield on interest earning assets decreased 12 bps QoQ to 5.46%, while the cost of funds decreased 13 bps QoQ.

● Prepayment penalty income, 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 $0.9 million (5 bps to NIM) in 1Q26 compared to $0.6 million (3 bps to NIM) in 1Q25 and $1.6 million (8 bps to NIM) in 4Q25

● Excluding the items in the previous bullet, the net interest margin was 2.62% in 1Q26 compared to 2.48% in 1Q25 and 2.60% in 4Q25

The provision for credit losses decreased YoY and QoQ.

● Net charge-offs were $0.5 million (3 bps of average loans) in 1Q26 compared to $4.4 million (27 bps of average loans) in 1Q25 and $1.8 million (11 bps of average loans) in 4Q25

● No systemic issues related to the charge-offs in 1Q26

Noninterest income decreased YoY and QoQ.

● Back-to-back swap loan closings of $25.1 million in 1Q26 (compared to $18.0 million in 1Q25 and $45.5 million in 4Q25) generated $0.4 million of noninterest income (compared to $0.3 million in 1Q25 and $0.7 million in 4Q25)

● Net gains (losses) from fair value adjustments were $(3.6) million ($(0.07) per share, net of tax) in 1Q26 compared to ($0.2) million ($0.00) per share, net of tax) in 1Q25 and $(2.0) million ($(0.03) per share, net of tax) in 4Q25

● Life Insurance proceeds were $0.1 million in 1Q26

● Absent the items in the previous two bullets and other immaterial adjustments, core noninterest income was $5.2 million in 1Q26, down 3.2 % YoY and up 0.1% QoQ

Noninterest expense decreased YoY and QoQ.

● GAAP noninterest expense was $46.8 million in 1Q26, down 21.6% YoY and 3.0% QoQ, reflecting the absence of the $17.6 million goodwill impairment recorded in 1Q25 and lower merger-related costs compared to 4Q25.

● Core noninterest expenses were $44.3 million in 1Q26, up 5.6% YoY and up 2.3% QoQ.

● GAAP noninterest expense to average assets was 2.12% in 1Q26 compared to 2.65% in 1Q25 and 2.18% in 4Q25

Provision for income taxes was $2.4 million in 1Q26 compared to $3.9 million in 1Q25 and $3.8 million in 4Q25.

● The effective tax rate was 28.8% in 1Q26 reflecting a more normalized rate compared to prior periods. The 1Q25 rate of (65.2%) was distorted by the non-deductible goodwill impairment charge, and the 4Q25 rate of 48.6% was elevated by non-deductible merger-related expenses.

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌3

Balance Sheet, Credit Quality, and Capital Highlights

YoY

QoQ

1Q26

4Q25

3Q25

2Q25

1Q25

Change

Averages ($MM)

Loans

$6,540

$6,592

$6,595

$6,678

$6,672

(2.0)

(0.8)

Total Deposits

7,492

7,497

7,346

7,607

7,561

(0.9)

(0.1)

Credit Quality ($000s)

Nonperforming Loans

$50,555

$41,564

$44,851

$49,247

$46,263

9.3

21.6

Nonperforming Assets

68,169

58,825

62,129

66,125

64,263

6.1

15.9

Criticized and Classified Loans

102,213

83,718

74,108

72,005

89,673

14.0

22.1

Criticized and Classified Assets

119,827

100,979

91,386

88,883

107,673

11.3

18.7

Allowance for Credit Losses/Loans (%)

0.68

0.64

0.63

0.62

0.59

Capital

Book Value/Share

$20.58

$20.96

$21.06

$20.91

$20.81

(1.1)

(1.8)

Tangible Book Value/Share

20.56

20.94

21.03

20.89

20.78

(1.1)

(1.8)

Tang. Common Equity/Tang. Assets (%)

7.86

8.14

8.01

8.04

7.79

bps

(28)

bps

Leverage Ratio (%)

8.48

8.52

8.64

8.31

8.12

(4)

Average loans decreased YoY and QoQ.

● Period end loans totaled $6.6 billion, down 2.7% YoY and 1.4% QoQ

● Total loan closings were $161.5 million in 1Q26 compared to $174.1 million in 1Q25 and $261.4 million in 4Q25; the loan pipeline was $327.4 million at March 31, 2026, up 54.9% YoY and 18.8% QoQ

● The diversified loan portfolio is approximately 90% 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 12.9% YoY and decreased 0.5% QoQ and comprised 12.9% of average total deposits in 1Q26 compared to 11.3% a year ago

● Average core deposits increased 5.3% YoY and 1.2% QoQ

Credit Quality: Nonperforming loans increased YoY and QoQ.

● Nonperforming loans were 77 bps of gross loans in 1Q26 compared to 69 bps in 1Q25 and 63 bps in 4Q25

● Criticized and classified loans were 156 bps of gross loans at 1Q26 compared to 133 bps at 1Q25 and 126 bps at 4Q25

Capital: Book value per common share and tangible book value per common share, a non-GAAP measure, both decreased 1.1% YoY to $20.58 and $20.56, respectively.

● The Company paid a dividend of $0.22 per share in 1Q26 and declared an additional dividend of $0.22 per share paid on April 24, 2026; 807,964 shares remaining subject to repurchase under the authorized stock repurchase program, which has no expiration date or maximum dollar limit

● Ample capital enables the Company to continue investment in the business and strategic initiatives

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌4

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 is available 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. These include statements regarding the proposed transaction of the Company with OceanFirst Financial Corp. (“OceanFirst”). 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, 2025 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.

These forward-looking statements also include but are not limited to: (i) the risk that the proposed transaction with OceanFirst may not be completed in a timely manner or at all; (ii) the failure to satisfy the conditions to the consummation of the proposed transaction, including obtaining the necessary regulatory approvals (and the risk that such regulatory approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the transaction); (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement between OceanFirst and the Company; (iv) the inability to obtain alternative capital in the event it becomes necessary to complete the proposed transaction; (v) the effect of the announcement or pendency of the proposed transaction on OceanFirst’s and the Company’s business relationships, operating results and business generally; (vi) risks that the proposed transaction disrupts current plans and operations of OceanFirst and the Company; (vii) potential difficulties in retaining OceanFirst and Company customers and employees as a result of the proposed transaction; (viii) OceanFirst’s and the Company’s estimates of its financial performance; (ix) changes in general economic, political, or industry conditions, including persistent inflation, supply chain issues or labor shortages, instability in global economic conditions and geopolitical matters, as well as volatility in financial markets; (x) uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Federal Reserve; (xi) the credit risks of lending activities, which may be affected by deterioration in real estate markets and the financial condition of borrowers, and the operational risk of lending activities, including the effectiveness of OceanFirst’s and the Company’s underwriting practices and the risk of fraud; (xii) fluctuations in the demand for loans; (xiii) the ability to develop and maintain a strong core deposit base or other low cost funding sources necessary to fund OceanFirst’s and the Company’s activities particularly in a rising or high interest rate environment; (xiv) the rapid withdrawal of a significant amount of deposits over a short period of time; (xv) results of examinations by regulatory authorities of OceanFirst or the Company and the possibility that any such regulatory authority may, among other things, limit OceanFirst’s or the Company’s business activities, restrict OceanFirst’s or the Company’s ability to invest in certain assets, refrain from issuing an approval or non-objection to certain capital or other actions, increase OceanFirst’s or the Company’s allowance for credit losses, result in write-downs of asset values, restrict OceanFirst’s or the Company’s ability or that of OceanFirst’s bank subsidiary or Flushing Bank to pay dividends, or impose fines, penalties or sanctions; (xvi) the impact of bank failures or other adverse developments at other banks on general investor sentiment regarding the stability and liquidity of banks; (xvii) changes in the markets in which OceanFirst and the Company compete, including with respect to the competitive landscape, technology evolution or regulatory changes; (xviii) changes in consumer spending, borrowing and saving habits; (xix) slowdowns in securities trading or shifting demand for security trading products; (xx) the impact of pandemics and other catastrophic events or disasters on the global economy and financial market conditions and our business, results of operations, and financial condition; (xxi) legislative or regulatory changes; (xxii) changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs, (xxiii) impact of operating in a highly competitive industry; (xxiv) reliance on third party service providers; (xxv) competition in

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌5

retaining key employees; (xxvi) risks related to data security and privacy, including the impact of any data security breaches, cyberattacks, employee or other internal misconduct, malware, phishing or ransomware, physical security breaches, natural disasters, or similar disruptions; (xxvii) changes to accounting principles and guidelines; (xxviii) potential litigation relating to the proposed transaction that could be instituted against OceanFirst, the Company or their respective directors and officers, including the effects of any outcomes related thereto; (xxix) volatility in the trading price of OceanFirst’s or the Company’s securities; (xxx) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities; (xxxi) the possibility that the proposed transaction may be more expensive to complete than anticipated, including as a result of unexpected expenses, factors or events; (xxxii) the possibility that the anticipated benefits of the proposed transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where OceanFirst and the Company do business; and (xxxiii) the dilution caused by OceanFirst’s issuance of additional shares of its capital stock in connection with the proposed transaction. The foregoing list of factors is not exhaustive. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above.

#FF- Statistical Tables Follow -

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌6

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

FINANCIAL HIGHLIGHTS

(Unaudited)

At or for the three months ended

March 31,

December 31,

September 30,

June 30,

March 31,

(Dollars in thousands, except per share data)

2026

2025

Performance Ratios (1)

Return on average assets

0.26

0.18

0.48

0.64

(0.43)

Return on average equity

3.26

2.24

5.86

8.00

(5.36)

Yield on average interest-earning assets (2)

5.46

5.58

5.70

5.59

5.51

Cost of average interest-bearing liabilities

3.32

3.46

3.62

3.58

3.50

Cost of funds

2.91

3.04

3.21

3.19

3.13

Net interest rate spread during period (2)

2.14

2.12

2.08

2.01

Net interest margin (2)

2.67

2.68

2.64

2.54

2.51

Noninterest expense to average assets

2.12

2.18

1.99

1.81

2.65

Efficiency ratio (3)

73.55

71.52

71.03

67.69

72.21

Average interest-earning assets to average interest-bearing liabilities

1.19

1.18

1.17

Average Balances

Total loans, net

6,539,653

6,591,699

6,595,037

6,678,494

6,671,922

Total interest-earning assets

8,292,959

8,313,586

8,181,582

8,402,582

8,468,913

Total assets

8,826,485

8,846,472

8,702,227

8,918,075

9,015,880

Total deposits

7,492,325

7,496,670

7,345,547

7,607,080

7,560,956

Total interest-bearing liabilities

6,974,738

6,973,230

6,923,640

7,176,399

7,261,100

Stockholders' equity

715,145

718,727

712,600

709,839

731,592

Per Share Data

Book value per common share (4)

20.58

20.96

21.06

20.91

20.81

Tangible book value per common share (5)

20.56

20.94

21.03

20.89

20.78

Stockholders' Equity

Stockholders' equity

697,408

707,975

711,226

706,377

702,851

Tangible stockholders' equity

696,712

707,202

710,372

705,437

701,822

Consolidated Regulatory Capital Ratios

Tier 1 capital

747,808

752,523

751,258

740,871

730,950

Common equity Tier 1 capital

694,708

702,747

703,450

695,099

683,670

Total risk-based capital

984,004

986,948

983,826

972,517

961,704

Risk Weighted Assets

6,634,737

6,623,923

6,692,035

6,675,621

6,719,291

Tier 1 leverage capital (well capitalized = 5%)

8.48

8.52

8.64

8.31

8.12

Common equity Tier 1 risk-based capital (well capitalized = 6.5%)

10.47

10.61

10.51

10.41

10.17

Tier 1 risk-based capital (well capitalized = 8.0%)

11.27

11.36

11.23

11.10

10.88

Total risk-based capital (well capitalized = 10.0%)

14.83

14.90

14.70

14.57

14.31

Capital Ratios

Average equity to average assets

8.10

8.12

8.19

7.96

8.11

Equity to total assets

7.87

8.14

8.02

8.05

7.80

Tangible common equity to tangible assets (6)

7.86

8.14

8.01

8.04

7.79

Asset Quality

Nonaccrual loans

50,555

41,564

44,851

49,247

46,263

Nonperforming loans

50,555

41,564

44,851

49,247

46,263

Nonperforming assets

68,169

58,825

62,129

66,125

64,263

Net charge-offs (recoveries)

520

1,783

1,090

2,549

4,427

Asset Quality Ratios

Nonperforming loans to gross loans

0.77

0.63

0.67

0.74

0.69

Nonperforming assets to total assets

0.77

0.68

0.70

0.75

0.71

Allowance for credit losses to gross loans

0.68

0.64

0.63

0.62

0.59

Allowance for credit losses to nonperforming assets

65.21

72.76

67.34

62.38

62.30

Allowance for credit losses to nonperforming loans

87.92

102.98

93.28

83.76

86.54

Net charge-offs (recoveries) to average loans

0.03

0.11

0.07

0.15

0.27

Full-service customer facilities

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌7

(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, Chief Financial Officer, 718-961-5400‌8

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(Unaudited)

For the three months ended

March 31,

December 31,

September 30,

June 30,

March 31,

(In thousands, except per share data)

2026

2025

Interest and Dividend Income

Interest and fees on loans

91,643

94,424

94,970

95,005

93,032

Interest and dividends on securities:

Interest

19,560

19,471

19,786

20,186

21,413

Dividends

Other interest income

1,782

1,900

1,685

2,183

2,063

Total interest and dividend income

113,010

115,822

116,469

117,402

116,536

Interest Expense

Deposits

52,823

55,179

57,137

59,037

57,174

Other interest expense

4,993

5,137

5,504

5,156

6,373

Total interest expense

57,816

60,316

62,641

64,193

63,547

Net Interest Income

55,194

55,506

53,828

53,209

52,989

Provision for credit losses

2,011

2,745

1,531

4,194

4,318

Net Interest Income After Provision for Credit Losses

53,183

52,761

52,297

49,015

48,671

Noninterest Income (Loss)

Banking services fee income

1,868

1,986

2,000

1,948

1,521

Net gain (loss) on sale of securities

—

661

—

Net gain (loss) on sale of loans

318

2,757

630

Net gain (loss) from fair value adjustments

(3,560)

(1,985)

(1,831)

1,656

(152)

Federal Home Loan Bank of New York stock dividends

365

369

428

697

Life insurance proceeds

—

Bank owned life insurance

2,202

2,037

2,319

2,835

1,574

Other income

717

835

910

653

804

Total noninterest income (loss)

1,785

3,303

4,746

10,277

5,074

Noninterest Expense

Salaries and employee benefits

26,610

26,219

24,685

22,648

22,896

Occupancy and equipment

4,557

4,240

4,189

4,005

4,092

Professional services

4,332

6,830

3,999

3,452

2,885

FDIC deposit insurance

1,001

1,038

1,373

1,508

1,709

Data processing

1,835

1,844

1,831

1,806

1,868

Depreciation and amortization

1,321

1,283

1,316

1,367

1,373

Other real estate owned/foreclosure expense

221

353

220

345

Impairment of goodwill

—

17,636

Other operating expenses

7,070

6,553

5,619

5,350

6,872

Total noninterest expense

46,775

48,228

43,365

40,356

59,676

Income (Loss) Before Provision (Benefit) for Income Taxes

8,193

7,836

13,678

18,936

(5,931)

Provision (Benefit) for income taxes

2,360

3,810

3,231

4,733

3,865

Net Income (Loss)

5,833

4,026

10,447

14,203

(9,796)

Dividends paid and earnings allocated to participating securities

(178)

(120)

(127)

(132)

Income (Loss) attributable to common stock

5,655

3,906

10,327

14,076

(9,928)

Divided by:

Weighted average common shares outstanding and participating securities

34,711

34,488

34,497

34,511

34,474

Weighted average participating securities

(735)

(547)

(558)

(582)

(542)

Total weighted average common shares outstanding

33,976

33,941

33,939

33,929

33,932

Basic earnings (loss) per common share

0.17

0.12

0.30

0.41

(0.29)

Diluted earnings (loss) per common share (1)

0.17

0.12

0.30

0.41

(0.29)

Dividends paid per common share

0.22

(1)

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

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌9

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Unaudited)

March 31,

December 31,

September 30,

June 30,

March 31,

(Dollars in thousands)

2026

2025

ASSETS

Cash and due from banks

158,707

126,076

142,929

150,123

271,912

Securities held-to-maturity:

Mortgage-backed securities

7,812

7,816

7,821

7,826

7,831

Other securities, net

42,041

42,364

42,688

43,005

43,319

Securities available for sale:

Mortgage-backed securities

1,087,248

821,938

906,270

828,756

879,566

Other securities

541,339

567,986

635,153

563,031

570,578

Loans held for sale

—

29,624

Loans

6,561,530

6,653,952

6,670,333

6,709,601

6,741,835

Allowance for credit losses

(44,450)

(42,802)

(41,837)

(41,247)

(40,037)

Net loans

6,517,080

6,611,150

6,628,496

6,668,354

6,701,798

Interest and dividends receivable

60,418

59,436

60,044

59,607

61,510

Bank premises and equipment, net

17,193

17,734

17,073

18,145

18,181

Federal Home Loan Bank of New York stock

18,520

18,937

18,909

23,773

18,475

Bank owned life insurance

228,881

226,939

224,902

222,583

219,748

Goodwill

—

Core deposit intangibles

696

773

854

940

1,029

Right of use asset

51,016

53,118

47,761

49,759

43,870

Other assets

131,898

139,035

139,091

140,622

140,955

Total assets

8,862,849

8,693,302

8,871,991

8,776,524

9,008,396

LIABILITIES

Total deposits

7,580,388

7,311,742

7,415,528

7,289,352

7,718,218

Borrowed funds

416,499

484,653

492,457

600,171

421,542

Operating lease liability

51,916

53,842

48,253

50,102

44,385

Other liabilities

116,638

135,090

204,527

130,522

121,400

Total liabilities

8,165,441

7,985,327

8,160,765

8,070,147

8,305,545

STOCKHOLDERS' EQUITY

Preferred stock (5,000,000 shares authorized; none issued)

—

Common stock ($0.01 par value; 100,000,000 shares authorized)

387

Additional paid-in capital

325,789

326,613

325,809

325,162

324,290

Retained earnings

470,540

480,376

483,936

481,077

474,472

Treasury stock

(96,649)

(98,948)

(98,985)

(98,993)

Accumulated other comprehensive loss, net of taxes

(2,659)

(453)

(1,264)

2,695

Total stockholders' equity

697,408

707,975

711,226

706,377

702,851

Total liabilities and stockholders' equity

8,862,849

8,693,302

8,871,991

8,776,524

9,008,396

(In thousands)

Issued shares

38,678

Outstanding shares

33,884

33,778

33,777

Treasury shares

4,794

4,900

4,901

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌10

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

AVERAGE BALANCE SHEETS

(Unaudited)

For the three months ended

March 31,

December 31,

September 30,

June 30,

March 31,

(In thousands)

2026

2025

Interest-earning Assets:

Loans held for sale

—

24,708

64,085

Mortgage loans, net

5,119,895

5,197,256

5,193,430

5,260,610

5,261,261

Commercial Business loans, net

1,419,758

1,394,443

1,401,607

1,417,884

1,410,661

Total loans, net

6,539,653

6,591,699

6,595,037

6,678,494

6,671,922

Mortgage-backed securities

943,977

882,501

832,514

863,573

895,097

Other taxable securities, net

549,052

585,285

536,314

573,730

585,219

Other tax-exempt securities

42,518

42,843

43,168

43,489

43,813

Total securities, net

1,535,547

1,510,629

1,411,996

1,480,792

1,524,129

Interest-earning deposits and federal funds sold

217,759

211,258

174,549

218,588

208,777

Total interest-earning assets

8,292,959

8,313,586

8,181,582

8,402,582

8,468,913

Other assets

533,526

532,886

520,645

515,493

546,967

Total assets

8,826,485

8,846,472

8,702,227

8,918,075

9,015,880

Interest-bearing Liabilities:

Deposits:

Savings accounts

96,917

92,836

92,068

94,884

98,224

NOW accounts

2,265,480

2,223,337

2,154,978

2,388,559

2,215,683

Money market accounts

1,813,291

1,781,888

1,677,996

1,665,625

1,716,358

Certificate of deposit accounts

2,265,312

2,331,079

2,445,173

2,477,716

2,596,714

Total due to depositors

6,441,000

6,429,140

6,370,215

6,626,784

6,626,979

Mortgagors' escrow accounts

85,508

96,853

81,501

104,761

78,655

Total interest-bearing deposits

6,526,508

6,525,993

6,451,716

6,731,545

6,705,634

Borrowings

448,230

447,237

471,924

444,854

555,466

Total interest-bearing liabilities

6,974,738

6,973,230

6,923,640

7,176,399

7,261,100

Noninterest-bearing demand deposits

965,817

970,677

893,831

875,535

855,322

Other liabilities

170,785

183,838

172,156

156,302

167,866

Total liabilities

8,111,340

8,127,745

7,989,627

8,208,236

8,284,288

Equity

715,145

718,727

712,600

709,839

731,592

Total liabilities and equity

8,826,485

8,846,472

8,702,227

8,918,075

9,015,880

Net interest-earning assets

1,318,221

1,340,356

1,257,942

1,226,183

1,207,813

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌11

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

NET INTEREST INCOME AND NET INTEREST MARGIN

(Unaudited)

For the three months ended

March 31,

December 31,

September 30,

June 30,

March 31,

(Dollars in thousands)

2026

2025

Interest Income:

Loans held for sale

—

247

664

Mortgage loans, net

71,972

74,181

74,149

74,240

72,391

Commercial Business loans, net

19,671

20,243

20,821

20,518

19,977

Total loans, net

91,643

94,424

94,970

94,758

92,368

Mortgage-backed securities

11,855

11,857

11,513

11,709

12,528

Other taxable securities, net

7,380

7,280

7,939

8,143

8,553

Other tax-exempt securities

443

457

458

456

Total securities, net

19,678

19,594

19,910

20,310

21,537

Interest-earning deposits and federal funds sold

1,782

1,900

1,685

2,183

2,063

Total interest-earning assets

113,103

115,918

116,565

117,498

116,632

Interest Expense:

Deposits:

Savings accounts

110

NOW accounts

17,379

18,401

18,808

21,111

18,915

Money market accounts

15,074

15,719

15,390

15,323

15,372

Certificate of deposit accounts

20,169

20,904

22,766

22,443

22,710

Total due to depositors

52,710

55,117

57,058

58,975

57,107

Mortgagors' escrow accounts

113

Total interest-bearing deposits

52,823

55,179

57,137

59,037

57,174

Borrowings

4,993

5,137

5,504

5,156

6,373

Total interest-bearing liabilities

57,816

60,316

62,641

64,193

63,547

Net interest income- tax equivalent

55,287

55,602

53,924

53,305

53,085

Included in net interest income above:

Episodic items (1)

674

1,442

1,498

878

294

Net gains/(losses) from fair value adjustments on hedges included in net interest income

Purchase accounting adjustments

160

161

191

257

252

Interest-earning Assets Yields:

Loans held for sale

—

4.00

4.14

Mortgage loans, net

5.62

5.71

5.64

5.50

Commercial Business loans, net

5.54

5.81

5.94

5.79

5.66

Total loans, net

5.61

5.73

5.76

5.68

5.54

Mortgage-backed securities

5.02

5.37

5.53

5.42

5.60

Other taxable securities, net

5.38

4.98

5.92

5.68

5.85

Other tax-exempt securities (2)

4.17

4.27

4.24

4.21

4.16

Total securities, net

5.13

5.19

5.64

5.49

5.65

Interest-earning deposits and federal funds sold

3.27

3.60

3.86

3.99

3.95

Total interest-earning assets (1)

5.46

5.58

5.70

5.59

5.51

Interest-bearing Liabilities Yields:

Deposits:

Savings accounts

0.36

0.40

0.41

0.45

NOW accounts

3.07

3.31

3.49

3.54

3.41

Money market accounts

3.33

3.53

3.67

3.68

3.58

Certificate of deposit accounts

3.56

3.59

3.72

3.62

3.50

Total due to depositors

3.27

3.43

3.58

3.56

3.45

Mortgagors' escrow accounts

0.53

0.26

0.39

0.24

0.34

Total interest-bearing deposits

3.24

3.38

3.54

3.51

3.41

Borrowings

4.46

4.59

4.67

4.64

4.59

Total interest-bearing liabilities

3.32

3.46

3.62

3.58

3.50

Net interest rate spread (tax equivalent) (1)

2.14

2.12

2.08

2.01

Net interest margin (tax equivalent) (1)

2.67

2.68

2.64

2.54

2.51

Ratio of interest-earning assets to interest-bearing liabilities

1.19

1.18

1.17

(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, Chief Financial Officer, 718-961-5400‌12

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

DEPOSIT and LOAN COMPOSITION

(Unaudited)

Deposit Composition

1Q26 vs.

March 31,

December 31,

September 30,

June 30,

March 31,

4Q25

1Q25

(Dollars in thousands)

2026

2025

% Change

Noninterest bearing

995,529

969,287

964,767

899,602

863,714

2.7

15.3

Interest bearing:

Certificate of deposit accounts

2,219,987

2,288,844

2,419,039

2,452,624

2,592,026

(3.0)

(14.4)

Savings accounts

98,325

93,752

91,089

92,699

97,624

4.9

0.7

Money market accounts

1,855,343

1,791,616

1,714,184

1,601,948

1,681,608

3.6

10.3

NOW accounts

2,314,962

2,108,653

2,143,752

2,174,124

2,393,482

9.8

(3.3)

Total interest-bearing deposits

6,488,617

6,282,865

6,368,064

6,321,395

6,764,740

3.3

(4.1)

Total due to depositors

7,484,146

7,252,152

7,332,831

7,220,997

7,628,454

3.2

(1.9)

Mortgagors' escrow deposits

96,242

59,590

82,697

68,355

89,764

61.5

7.2

Total deposits

7,580,388

7,311,742

7,415,528

7,289,352

7,718,218

3.7

(1.8)

Loan Composition

1Q26 vs.

March 31,

December 31,

September 30,

June 30,

March 31,

4Q25

1Q25

(Dollars in thousands)

2026

2025

% Change

Multifamily residential

2,387,794

2,382,828

2,442,555

2,487,610

2,531,628

0.2

(5.7)

Commercial real estate

1,932,186

1,993,018

1,960,009

1,987,523

1,953,710

(3.1)

(1.1)

One-to-four family ― mixed use property

466,734

476,423

482,933

493,846

501,562

(2.0)

(6.9)

One-to-four family ― residential

297,735

319,353

335,592

258,608

269,492

(6.8)

10.5

Construction

40,614

54,821

51,638

46,798

63,474

(25.9)

(36.0)

Mortgage loans

5,125,063

5,226,443

5,272,727

5,274,385

5,319,866

(1.9)

(3.7)

Small Business Administration

21,972

17,523

11,439

15,473

14,713

25.4

49.3

Commercial business and other

1,401,627

1,395,853

1,372,598

1,407,792

1,396,597

0.4

Commercial Business loans

1,423,599

1,413,376

1,384,037

1,423,265

1,411,310

0.7

0.9

Gross loans

6,548,662

6,639,819

6,656,764

6,697,650

6,731,176

(1.4)

(2.7)

Net unamortized (premiums) and unearned loan (cost) fees (1)

12,868

14,133

13,569

11,951

10,659

(9.0)

20.7

Allowance for credit losses

(44,450)

(42,802)

(41,837)

(41,247)

(40,037)

3.9

11.0

Net loans

6,517,080

6,611,150

6,628,496

6,668,354

6,701,798

(1.4)

(2.8)

(1)

Includes $1.8 million, $2.0 million, $2.1 million, $2.3 million, and $2.6 million of purchase accounting unamortized discount resulting from the acquisition of Empire Bancorp at March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025, and March 31, 2025, respectively.

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌13

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

LOAN CLOSINGS and RATES

(Unaudited)

Loan Closings

For the three months ended

March 31,

December 31,

September 30,

June 30,

March 31,

(In thousands)

2026

2025

Multifamily residential

47,784

16,559

17,674

8,546

21,183

Commercial real estate

21,922

90,035

40,199

57,533

22,916

One-to-four family – mixed use property

4,302

7,553

3,580

3,039

1,842

One-to-four family – residential

289

1,174

86,589

411

35,206

Construction

4,043

3,184

4,839

2,469

3,275

Mortgage loans

78,340

118,505

152,881

71,998

84,422

Small Business Administration

5,510

6,391

528

2,457

1,250

Commercial business and other

77,657

136,486

99,351

84,721

88,404

Commercial Business loans

83,167

142,877

99,879

87,178

89,654

Total Closings

161,507

261,382

252,760

159,176

174,076

Weighted Average Rate on Loan Closings

For the three months ended

March 31,

December 31,

September 30,

June 30,

March 31,

Loan type

2026

2025

Mortgage loans

6.18

6.44

6.87

6.68

Commercial Business loans

6.49

6.67

7.14

7.25

7.28

Total loans

6.34

6.45

6.72

7.08

6.99

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌14

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

ASSET QUALITY

(Unaudited)

Allowance for Credit Losses

For the three months ended

March 31,

December 31,

September 30,

June 30,

March 31,

(Dollars in thousands)

2026

2025

Allowance for credit losses - loans

Beginning balances

42,802

41,837

41,247

40,037

40,152

Net loan charge-off (recoveries):

Multifamily residential

319

834

372

1,677

Commercial real estate

616

—

1,275

—

One-to-four family – mixed-use property

—

Small Business Administration

—

271

(4)

(40)

Commercial business and other

(415)

914

(848)

804

4,463

Total net loan charge-offs (recoveries)

520

1,783

1,090

2,549

4,427

Provision (benefit) for loan losses

2,168

2,748

1,680

3,759

4,312

Ending balance

44,450

42,802

41,837

41,247

40,037

Gross charge-offs

1,052

2,051

2,024

2,857

4,471

Gross recoveries

532

268

934

308

Allowance for credit losses - loans to gross loans

0.68

0.64

0.63

0.62

0.59

Net loan charge-offs (recoveries) to average loans

0.03

0.11

0.07

0.15

0.27

Nonperforming Assets

March 31,

December 31,

September 30,

June 30,

March 31,

(Dollars in thousands)

2026

2025

Nonaccrual Loans:

Multifamily residential

13,006

10,214

12,970

12,364

25,952

Commercial real estate

18,339

21,786

23,481

6,703

One-to-four family - mixed-use property

—

236

—

422

426

One-to-four family - residential

1,707

1,838

1,351

2,277

1,225

Small Business Administration

1,064

554

2,445

Commercial business and other

16,439

6,936

8,190

8,258

9,512

Total Nonaccrual loans

50,555

41,564

44,851

49,247

46,263

Total Nonperforming Loans (NPLs)

50,555

41,564

44,851

49,247

46,263

Total Nonaccrual Securities

17,614

17,261

17,278

16,878

18,000

Total Nonperforming Assets

68,169

58,825

62,129

66,125

64,263

Nonperforming Assets to Total Assets

0.77

0.68

0.70

0.75

0.71

Allowance for Credit Losses to NPLs

87.9

103.0

93.3

83.8

86.5

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌15

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, Chief Financial Officer, 718-961-5400‌16

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

RECONCILIATION OF GAAP EARNINGS (LOSS) and CORE EARNINGS

(Unaudited)

For the three months ended

(Dollars in thousands,

March 31,

December 31,

September 30,

June 30,

March 31,

except per share data)

2026

2025

GAAP income (loss) before income taxes

8,193

7,836

13,678

18,936

(5,931)

Net (gain) loss from fair value adjustments (Noninterest income (loss))

3,560

1,985

1,831

(1,656)

152

Net (gain) loss on sale of securities (Noninterest income (loss))

—

(47)

(661)

—

Life insurance proceeds (Noninterest income (loss))

(99)

—

Valuation allowance on loans transferred to held for sale (Noninterest income (loss))

—

(2,590)

194

Net (gain) loss from fair value adjustments on hedges (Net interest income)

(34)

(42)

(94)

(64)

(56)

Net amortization of purchase accounting adjustments and intangibles (Various)

(91)

(88)

(113)

(176)

(167)

Impairment of goodwill (Noninterest expense)

—

17,636

Miscellaneous expense (Noninterest expense)

989

1,053

395

(1)

Non-deductible miscellaneous expense (Noninterest expense)

1,405

4,836

—

Core income before taxes

13,923

14,499

15,694

14,845

11,827

Provision for core income taxes

3,983

3,581

3,737

3,683

3,896

Core net income

9,940

10,918

11,957

11,162

7,931

GAAP diluted earnings (loss) per common share

0.17

0.12

0.30

0.41

(0.29)

Net (gain) loss from fair value adjustments, net of tax

0.07

0.03

0.04

(0.04)

—

Net (gain) loss on sale of securities, net of tax

—

0.01

(0.01)

—

Life insurance proceeds

—

Valuation allowance on loans transferred to held for sale, net of tax

—

(0.06)

—

Net (gain) loss from fair value adjustments on hedges, net of tax

—

Net amortization of purchase accounting adjustments, net of tax

—

Impairment of goodwill

—

0.51

Miscellaneous expense, net of tax

0.02

—

0.02

0.01

—

Non-deductible miscellaneous expense

0.03

0.14

—

Disallowed Compensation

—

0.01

—

Core diluted earnings per common share(1)

0.29

0.32

0.35

0.32

0.23

Core net income, as calculated above

9,940

10,918

11,957

11,162

7,931

Average assets

8,826,485

8,846,472

8,702,227

8,918,075

9,015,880

Average equity

715,145

718,727

712,600

709,839

731,592

Core return on average assets(2)

0.45

0.49

0.55

0.50

0.35

Core return on average equity(2)

5.56

6.08

6.71

6.29

4.34

(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, Chief Financial Officer, 718-961-5400‌17

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

RECONCILIATION OF GAAP REVENUE and PRE-PROVISION

PRE-TAX NET REVENUE

(Unaudited)

For the three months ended

March 31,

December 31,

September 30,

June 30,

March 31,

(Dollars in thousands)

2026

2025

GAAP Net interest income

55,194

55,506

53,828

53,209

52,989

Net (gain) loss from fair value adjustments on hedges

(34)

(42)

(94)

(64)

(56)

Net amortization of purchase accounting adjustments

(160)

(161)

(191)

(257)

(252)

Core Net interest income

55,000

55,303

53,543

52,888

52,681

GAAP Noninterest income (loss)

1,785

3,303

4,746

10,277

5,074

Net (gain) loss from fair value adjustments

3,560

1,985

1,831

(1,656)

152

Net loss on sale of securities

—

(47)

(661)

—

(Reversal) Valuation allowance on loans transferred to held for sale

—

(2,590)

194

Life insurance proceeds

(99)

—

Core Noninterest income

5,246

5,241

5,916

6,031

5,420

GAAP Noninterest expense

46,775

48,228

43,365

40,356

59,676

Prepayment penalty on borrowings

—

Net amortization of purchase accounting adjustments

(69)

(73)

(78)

(81)

(85)

Impairment of goodwill

—

(17,636)

Miscellaneous expense

(2,394)

(4,855)

(1,053)

(395)

Core Noninterest expense

44,312

43,300

42,234

39,880

41,956

Net interest income

55,194

55,506

53,828

53,209

52,989

Noninterest income (loss)

1,785

3,303

4,746

10,277

5,074

Noninterest expense

(46,775)

(48,228)

(43,365)

(40,356)

(59,676)

Pre-provision pre-tax net (loss) revenue

10,204

10,581

15,209

23,130

(1,613)

Core:

Net interest income

55,000

55,303

53,543

52,888

52,681

Noninterest income

5,246

5,241

5,916

6,031

5,420

Noninterest expense

(44,312)

(43,300)

(42,234)

(39,880)

(41,956)

Pre-provision pre-tax net revenue

15,934

17,244

17,225

19,039

16,145

Efficiency Ratio

73.6

71.5

71.0

67.7

72.2

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌18

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

March 31,

December 31,

September 30,

June 30,

March 31,

(Dollars in thousands)

2026

2025

GAAP net interest income

55,194

55,506

53,828

53,209

52,989

Net (gain) loss from fair value adjustments on hedges

(34)

(42)

(94)

(64)

(56)

Net amortization of purchase accounting adjustments

(160)

(161)

(191)

(257)

(252)

Tax equivalent adjustment

Core net interest income FTE

55,093

55,399

53,639

52,984

52,777

Episodic items (1)

(674)

(1,442)

(1,498)

(878)

(294)

Net interest income FTE excluding episodic items

54,419

53,957

52,141

52,106

52,483

Total average interest-earning assets (2)

8,294,840

8,315,631

8,183,818

8,405,053

8,471,609

Core net interest margin FTE

2.66

2.62

2.52

2.49

Net interest margin FTE excluding episodic items

2.62

2.60

2.55

2.48

GAAP interest income on total loans, net (3)

91,643

94,424

94,970

94,758

92,368

Net (gain) loss from fair value adjustments on hedges - loans

(34)

(42)

(94)

(64)

(56)

Net amortization of purchase accounting adjustments

(171)

(167)

(195)

(260)

(252)

Core interest income on total loans, net

91,438

94,215

94,681

94,434

92,060

Average total loans, net (2)

6,541,561

6,593,780

6,597,315

6,681,009

6,674,665

Core yield on total loans

5.59

5.72

5.74

5.65

5.52

(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, Chief Financial Officer, 718-961-5400‌19

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

CALCULATION OF TANGIBLE STOCKHOLDERS’

COMMON EQUITY to TANGIBLE ASSETS

(Unaudited)

March 31,

December 31,

September 30,

June 30,

March 31,

(Dollars in thousands)

2026

2025

Total Equity

697,408

707,975

711,226

706,377

702,851

Less:

Goodwill

—

Core deposit intangibles

(696)

(773)

(854)

(940)

(1,029)

Tangible Stockholders' Common Equity

696,712

707,202

710,372

705,437

701,822

Total Assets

8,862,849

8,693,302

8,871,991

8,776,524

9,008,396

Less:

Goodwill

—

Core deposit intangibles

(696)

(773)

(854)

(940)

(1,029)

Tangible Assets

8,862,153

8,692,529

8,871,137

8,775,584

9,007,367

Tangible Stockholders' Common Equity to Tangible Assets

7.86

8.14

8.01

8.04

7.79

Investor Contact: Susan K. Cullen, SEVP, Chief Financial Officer, 718-961-5400‌20

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