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, NY / ACCESS Newswire / 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/TA 1 was 8.01% at September 30, 2025, compared to 8.04% at June 30, 2025.

Key Financial Metrics 2

3Q25

2Q25

1Q25

4Q24

3Q24

9M25

9M24

0.30

0.41

(0.29

)

(1.64

)

0.30

0.43

0.60

0.48

0.64

(0.43

)

(2.17

)

0.39

0.22

0.27

5.86

8.00

(5.36

)

(29.24

)

5.30

2.76

3.57

2.64

2.54

2.51

2.39

2.10

2.56

2.07

0.35

0.32

0.23

0.14

0.26

0.90

0.59

0.55

0.50

0.35

0.19

0.34

0.47

0.26

6.71

6.29

4.34

2.54

4.59

5.77

3.48

2.62

2.52

2.49

2.25

2.07

2.54

2.05

0.70

0.75

0.71

0.57

0.59

0.70

0.59

0.63

0.62

0.59

0.60

0.59

0.63

0.59

93.28

83.76

86.54

120.51

117.75

93.28

117.75

0.07

0.15

0.27

0.28

0.18

0.16

0.06

6.6

6.7

6.8

6.7

6.6

6.8

7.3

7.6

7.4

7.5

7.2

21.06

20.91

20.81

21.53

22.94

21.06

22.94

21.03

20.89

20.78

20.97

22.29

21.03

22.29

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").

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.

Income Statement Highlights

YoY

QoQ

3Q25

2Q25

1Q25

4Q24

3Q24

Change

53,828

53,209

52,989

51,235

45,603

18.0

1.2

1,531

4,194

4,318

6,440

1,727

(11.3

)

(63.5

)

4,746

10,277

5,074

(71,022

)

6,277

(24.4

)

(53.8

)

43,365

40,356

59,676

45,630

38,696

12.1

7.5

13,678

18,936

(5,931

)

(71,857

)

11,457

19.4

(27.8

)

3,231

4,733

3,865

(22,612

)

2,551

26.7

(31.7

)

10,447

14,203

(9,796

)

(49,245

)

8,906

17.3

(26.4

)

0.30

0.41

(0.29

)

(1.64

)

0.30

(26.8

)

11,957

11,162

7,931

4,209

7,723

54.8

7.1

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

Balance Sheet, Credit Quality, and Capital Highlights

YoY

QoQ

3Q25

2Q25

1Q25

4Q24

3Q24

Change

6,595

6,678

6,672

6,780

6,737

(2.1

(1.2

7,346

7,607

7,561

7,450

7,464

(1.6

)

(3.4

)

44,851

49,247

46,263

33,318

34,261

30.9

(8.9

62,129

66,125

64,263

51,318

54,888

13.2

(6.0

)

74,108

72,005

89,673

72,207

68,338

8.4

2.9

91,386

88,883

107,673

90,207

88,965

2.7

2.8

0.63

0.62

0.59

0.60

0.59

21.06

20.91

20.81

21.53

22.94

(8.2

0.7

21.03

20.89

20.78

20.97

22.29

(5.7

)

0.7

8.01

8.04

7.79

7.82

7.00

101

bps

)bps

8.64

8.31

8.12

8.04

7.91

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 loansincreased 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

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.

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

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 F lushingBank.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 -

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,

2025

2024

2025

2024

0.48

0.64

(0.43

(2.17

0.39

0.22

0.27

5.86

8.00

(5.36

)

(29.24

)

5.30

2.76

3.57

5.70

5.59

5.51

5.60

5.63

5.60

5.46

3.62

3.58

3.50

3.75

4.10

3.57

3.96

3.21

3.19

3.13

3.35

3.69

3.18

3.55

2.08

2.01

1.85

1.53

2.03

1.50

2.64

2.54

2.51

2.39

2.10

2.56

2.07

1.99

1.81

2.65

2.01

1.68

2.15

1.76

71.03

67.69

72.21

79.01

77.20

70.30

81.81

1.18

1.17

1.16

1.17

6,595,037

6,678,494

6,671,922

6,780,268

6,737,261

6,648,202

6,763,078

8,181,582

8,402,582

8,468,913

8,587,482

8,709,671

8,349,971

8,434,283

8,702,227

8,918,075

9,015,880

9,071,879

9,203,884

8,877,578

8,915,076

7,345,547

7,607,080

7,560,956

7,449,504

7,463,783

7,503,738

7,247,863

6,923,640

7,176,399

7,261,100

7,339,707

7,504,517

7,119,143

7,220,876

712,600

709,839

731,592

673,588

672,762

717,941

669,845

21.06

20.91

20.81

21.53

22.94

21.06

22.94

21.03

20.89

20.78

20.97

22.29

21.03

22.29

711,226

706,377

702,851

724,539

666,891

711,226

666,891

710,372

705,437

701,822

705,780

648,035

710,372

648,035

751,258

740,871

730,950

731,958

735,984

751,258

735,984

703,450

695,099

683,670

685,004

689,902

703,450

689,902

983,826

972,517

961,704

962,272

967,242

983,826

967,242

6,692,035

6,675,621

6,719,291

6,762,048

6,790,253

6,692,035

6,790,253

8.64

8.31

8.12

8.04

7.91

8.64

7.91

10.51

10.41

10.17

10.13

10.16

10.51

10.16

11.23

11.10

10.88

10.82

10.84

11.23

10.84

14.70

14.57

14.31

14.23

14.24

14.70

14.24

8.19

7.96

8.11

7.43

7.31

8.09

7.51

8.02

8.05

7.80

8.02

7.19

8.02

7.19

8.01

8.04

7.79

7.82

7.00

8.01

7.00

44,851

49,247

46,263

33,318

34,261

44,851

34,261

44,851

49,247

46,263

33,318

34,261

44,851

34,261

62,129

66,125

64,263

51,318

54,888

62,129

54,888

1,090

2,549

4,427

4,736

3,036

8,066

2,948

0.67

0.74

0.69

0.49

0.50

0.67

0.50

0.70

0.75

0.71

0.57

0.59

0.70

0.59

0.63

0.62

0.59

0.60

0.59

0.63

0.59

67.34

62.38

62.30

78.24

73.50

67.34

73.50

93.28

83.76

86.54

120.51

117.75

93.28

117.75

0.07

0.15

0.27

0.28

0.18

0.16

0.06

(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".

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,

2025

2024

2025

2024

94,970

95,005

93,032

94,111

95,780

283,007

281,467

19,785

20,186

21,413

24,111

24,215

61,384

54,965

1,685

2,183

2,063

1,787

2,565

5,931

8,791

116,469

117,402

116,536

120,040

122,593

350,407

345,322

57,137

59,037

57,174

59,728

66,150

173,348

184,908

5,504

5,156

6,373

9,077

10,840

17,033

29,638

62,641

64,193

63,547

68,805

76,990

190,381

214,546

53,828

53,209

52,989

51,235

45,603

160,026

130,776

1,531

4,194

4,318

6,440

1,727

10,043

3,128

52,297

49,015

48,671

44,795

43,876

149,983

127,648

2,000

1,948

1,521

2,180

1,790

5,469

4,767

661

(72,315

)

661

318

2,757

630

(3,836

)

137

3,705

273

(1,831

)

1,656

(152

)

(1,136

)

974

(327

)

197

369

428

697

754

624

1,494

2,036

284

2,319

2,835

1,574

2,322

1,260

6,728

3,683

910

653

804

725

1,491

2,367

2,620

4,746

10,277

5,074

(71,022

)

6,277

20,097

13,577

24,685

22,648

22,896

25,346

22,216

70,229

66,052

4,189

4,005

4,092

3,880

3,745

12,286

11,237

3,999

3,452

2,885

2,516

2,752

10,336

8,330

1,373

1,508

1,709

2,005

1,318

4,590

4,292

1,831

1,806

1,868

1,697

1,681

5,505

5,193

1,316

1,367

1,373

1,412

1,436

4,056

4,318

353

220

345

276

135

918

405

(174

)

(174

)

2,572

17,636

5,619

5,350

6,872

5,926

5,587

17,841

17,982

43,365

40,356

59,676

45,630

38,696

143,397

117,635

13,678

18,936

(5,931

)

(71,857

)

11,457

26,683

23,590

3,231

4,733

3,865

(22,612

)

2,551

11,829

5,678

10,447

14,203

(9,796

)

(49,245

)

8,906

14,854

17,912

(120

)

(127

)

(132

)

(90

)

(126

)

(381

)

(296

)

10,327

14,076

(9,928

)

(49,335

)

8,780

14,473

17,616

34,497

34,511

34,474

30,519

29,742

34,495

29,758

(558

)

(582

)

(542

)

(414

)

(423

)

(561

)

(443

)

33,939

33,929

33,932

30,105

29,319

33,934

29,315

0.30

0.41

(0.29

)

(1.64

)

0.30

0.43

0.60

0.30

0.41

(0.29

)

(1.64

)

0.30

0.43

0.60

0.22

0.66

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

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Unaudited)

September 30,

June 30,

March 31,

December 31,

September 30,

2025

2024

142,929

150,123

271,912

152,574

267,643

7,821

7,826

7,831

7,836

7,841

42,688

43,005

43,319

43,649

63,859

906,270

828,756

879,566

911,636

926,731

635,153

563,031

570,578

586,269

687,518

29,624

70,098

6,670,333

6,709,601

6,741,835

6,745,848

6,818,328

(41,837

)

(41,247

)

(40,037

)

(40,152

)

(40,342

)

6,628,496

6,668,354

6,701,798

6,705,696

6,777,986

60,044

59,607

61,510

62,036

64,369

17,073

18,145

18,181

17,852

18,544

18,909

23,773

18,475

38,096

32,745

224,902

222,583

219,748

218,174

217,200

17,636

854

940

1,029

1,123

1,220

47,761

49,759

43,870

45,800

44,787

139,091

140,622

140,955

160,497

152,807

8,871,991

8,776,524

9,008,396

9,038,972

9,280,886

7,415,528

7,289,352

7,718,218

7,178,933

7,572,395

492,457

600,171

421,542

916,054

846,123

48,253

50,102

44,385

46,443

45,437

204,527

130,522

121,400

173,003

150,040

8,160,765

8,070,147

8,305,545

8,314,433

8,613,995

387

341

325,809

325,162

324,290

326,671

261,274

483,936

481,077

474,472

492,003

547,708

(98,948

)

(98,985

)

(98,993

)

(101,655

)

(101,633

)

(1,264

)

2,695

7,133

(40,799

)

711,226

706,377

702,851

724,539

666,891

8,871,991

8,776,524

9,008,396

9,038,972

9,280,886

38,678

34,088

33,778

33,777

33,659

29,069

4,900

4,901

5,019

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,

2025

2024

2025

2024

24,708

64,085

762

29,363

5,193,430

5,260,610

5,261,261

5,358,490

5,337,170

5,238,185

5,343,108

1,401,607

1,417,884

1,410,661

1,421,778

1,400,091

1,410,017

1,419,970

6,595,037

6,678,494

6,671,922

6,780,268

6,737,261

6,648,202

6,763,078

832,514

863,573

895,097

919,587

984,383

863,499

714,030

536,314

573,730

585,219

652,755

714,161

564,908

656,325

43,168

43,489

43,813

64,531

65,070

43,487

65,485

1,411,996

1,480,792

1,524,129

1,636,873

1,763,614

1,471,894

1,435,840

174,549

218,588

208,777

169,579

208,796

200,512

235,365

8,181,582

8,402,582

8,468,913

8,587,482

8,709,671

8,349,971

8,434,283

520,645

515,493

546,967

484,397

494,213

527,607

480,793

8,702,227

8,918,075

9,015,880

9,071,879

9,203,884

8,877,578

8,915,076

92,068

94,884

98,224

99,669

102,196

95,036

103,908

2,154,978

2,388,559

2,215,683

2,024,600

1,886,387

2,252,851

1,946,022

1,677,996

1,665,625

1,716,358

1,686,614

1,673,499

1,686,519

1,704,320

2,445,173

2,477,716

2,596,714

2,681,742

2,884,280

2,505,979

2,578,988

6,370,215

6,626,784

6,626,979

6,492,625

6,546,362

6,540,385

6,333,238

81,501

104,761

78,655

87,120

71,965

88,316

80,408

6,451,716

6,731,545

6,705,634

6,579,745

6,618,327

6,628,701

6,413,646

471,924

444,854

555,466

759,962

886,190

490,442

807,230

6,923,640

7,176,399

7,261,100

7,339,707

7,504,517

7,119,143

7,220,876

893,831

875,535

855,322

869,759

845,456

875,037

834,217

172,156

156,302

167,866

188,825

181,149

165,457

190,138

7,989,627

8,208,236

8,284,288

8,398,291

8,531,122

8,159,637

8,245,231

712,600

709,839

731,592

673,588

672,762

717,941

669,845

8,702,227

8,918,075

9,015,880

9,071,879

9,203,884

8,877,578

8,915,076

1,257,942

1,226,183

1,207,813

1,247,775

1,205,154

1,230,828

1,213,407

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,

2025

2024

2025

2024

247

664

911

74,149

74,240

72,391

73,252

74,645

220,780

218,185

20,821

20,518

19,977

20,852

21,135

61,316

63,282

94,970

94,758

92,368

94,104

95,780

282,096

281,467

11,513

11,709

12,528

13,884

12,443

35,750

23,601

7,939

8,143

8,553

9,887

11,431

24,635

30,343

458

456

469

474

1,372

1,418

19,910

20,310

21,537

24,240

24,348

61,757

55,362

1,685

2,183

2,063

1,787

2,565

5,931

8,791

116,565

117,498

116,632

120,138

122,693

350,695

345,620

110

113

122

302

359

18,808

21,111

18,915

18,390

18,795

58,834

57,293

15,390

15,323

15,372

15,909

17,485

46,085

52,083

22,766

22,443

22,710

25,258

29,676

67,919

74,977

57,058

58,975

57,107

59,670

66,078

173,140

184,712

208

196

57,137

59,037

57,174

59,728

66,150

173,348

184,908

5,504

5,156

6,373

9,077

10,840

17,033

29,638

62,641

64,193

63,547

68,805

76,990

190,381

214,546

53,924

53,305

53,085

51,333

45,703

160,314

131,074

1,498

878

294

648

1,647

2,670

2,944

2,911

554

214

544

191

257

252

191

155

700

608

4.00

4.14

3.67

4.14

5.71

5.64

5.50

5.47

5.59

5.62

5.44

5.94

5.79

5.66

5.87

6.04

5.80

5.94

5.76

5.68

5.54

5.55

5.69

5.66

5.55

5.53

5.42

5.60

6.04

5.06

5.52

4.41

5.92

5.68

5.85

6.06

6.40

5.81

6.16

4.24

4.21

4.16

2.91

4.21

2.89

5.64

5.49

5.65

5.92

5.52

5.59

5.14

3.86

3.99

3.95

4.22

4.91

3.94

4.98

5.70

5.59

5.51

5.60

5.63

5.60

5.46

0.41

0.45

0.48

0.42

0.46

3.49

3.54

3.41

3.63

3.99

3.48

3.93

3.67

3.68

3.58

3.77

4.18

3.64

4.07

3.72

3.62

3.50

3.77

4.12

3.61

3.88

3.58

3.56

3.45

3.68

4.04

3.53

3.89

0.39

0.24

0.34

0.27

0.40

0.31

0.33

3.54

3.51

3.41

3.63

4.00

3.49

3.84

4.67

4.64

4.59

4.78

4.89

4.63

4.90

3.62

3.58

3.50

3.75

4.10

3.57

3.96

2.08

2.01

1.85

1.53

2.03

1.50

2.64

2.54

2.51

2.39

2.10

2.56

2.07

1.18

1.17

1.16

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.

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

DEPOSIT and LOAN COMPOSITION

(Unaudited)

Deposit Composition

3Q25 vs.

September 30,

June 30,

March 31,

December 31,

September 30,

2Q25

3Q24

2025

2024

% Change

964,767

899,602

863,714

836,545

860,930

7.2

12.1

2,419,039

2,452,624

2,592,026

2,650,164

2,875,486

(1.4

)

(15.9

)

91,089

92,699

97,624

98,964

100,279

(1.7

)

(9.2

)

1,714,184

1,601,948

1,681,608

1,686,109

1,659,027

7.0

3.3

2,143,752

2,174,124

2,393,482

1,854,069

2,003,301

(1.4

)

7.0

6,368,064

6,321,395

6,764,740

6,289,306

6,638,093

0.7

(4.1

)

7,332,831

7,220,997

7,628,454

7,125,851

7,499,023

1.5

(2.2

)

82,697

68,355

89,764

53,082

73,372

21.0

12.7

7,415,528

7,289,352

7,718,218

7,178,933

7,572,395

1.7

(2.1

Loan Composition

3Q25 vs.

September 30,

June 30,

March 31,

December 31,

September 30,

2Q25

3Q24

2025

2024

% Change

2,442,555

2,487,610

2,531,628

2,527,222

2,638,863

(1.8

(7.4

1,960,009

1,987,523

1,953,710

1,973,124

1,929,093

(1.4

)

1.6

482,933

493,846

501,562

511,222

515,511

(2.2

)

(6.3

)

335,592

258,608

269,492

244,282

252,293

29.8

33.0

51,638

46,798

63,474

60,399

63,674

10.3

(18.9

)

5,272,727

5,274,385

5,319,866

5,316,249

5,399,434

(2.3

)

11,439

15,473

14,713

19,925

19,368

(26.1

)

(40.9

)

1,372,598

1,407,792

1,396,597

1,401,602

1,387,965

(2.5

)

(1.1

)

1,384,037

1,423,265

1,411,310

1,421,527

1,407,333

(2.8

)

(1.7

)

6,656,764

6,697,650

6,731,176

6,737,776

6,806,767

(0.6

)

(2.2

)

13,569

11,951

10,659

8,072

11,561

13.5

17.4

(41,837

)

(41,247

)

(40,037

)

(40,152

)

(40,342

)

1.4

3.7

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.

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,

2025

2024

2025

2024

17,674

8,546

21,183

25,232

50,528

47,403

90,299

40,199

57,533

22,916

75,285

56,713

120,648

87,326

3,580

3,039

1,842

6,622

5,709

8,461

10,439

86,589

411

35,206

739

1,705

122,206

54,933

4,839

2,469

3,275

9,338

5,063

10,583

11,552

152,881

71,998

84,422

117,216

119,718

309,301

254,549

528

2,457

1,250

1,368

5,930

4,235

5,930

99,351

84,721

88,404

106,580

91,447

272,476

212,564

99,879

87,178

89,654

107,948

97,377

276,711

218,494

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,

2025

2024

6.44

6.87

6.68

7.12

7.31

7.14

7.25

7.28

7.45

7.75

6.72

7.08

6.99

7.28

7.51

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,

2025

2024

2025

2024

41,247

40,037

40,152

40,342

41,648

40,152

40,161

372

1,677

)

2,053

)

1,275

421

1,347

)

(41

)

(58

)

(47

)

271

)

(40

)

227

(97

)

(848

)

804

4,463

4,361

3,095

4,419

3,095

1,090

2,549

4,427

4,736

3,036

8,066

2,948

1,680

3,759

4,312

4,546

1,730

9,751

3,129

41,837

41,247

40,037

40,152

40,342

41,837

40,342

2,024

2,857

4,471

4,790

3,110

9,352

3,179

934

308

1,286

231

0.63

0.62

0.59

0.60

0.59

0.63

0.59

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,

2025

2024

12,970

12,364

25,952

11,031

9,478

21,786

23,481

6,703

6,283

6,705

422

426

116

369

1,351

2,277

1,225

1,428

1,493

554

2,445

8,190

8,258

9,512

12,015

13,771

44,851

49,247

46,263

33,318

34,261

44,851

49,247

46,263

33,318

34,261

17,278

16,878

18,000

20,627

62,129

66,125

64,263

51,318

54,888

0.70

0.75

0.71

0.57

0.59

93.3

83.8

86.5

120.5

117.7

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.

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

RECONCILIATION OF GAAP EARNINGS (LOSS) and CORE EARNINGS

(Unaudited)

For the three months ended

For the nine months ended

September 30,

June 30,

March 31,

December 31,

September 30,

2025

2024

2025

2024

13,678

18,936

(5,931

)

(71,857

)

11,457

26,683

23,590

1,831

(1,656

)

152

1,136

(974

)

327

(197

)

(661

)

72,315

(661

)

(284

)

(2,590

)

194

3,836

(2,396

)

(94

)

(64

)

(56

)

(2,911

)

(554

)

(214

)

(544

)

2,572

(113

)

(176

)

(167

)

(101

)

(62

)

(456

)

(316

)

17,636

1,053

395

)

218

1,447

504

15,694

14,845

11,827

4,924

9,876

42,366

23,036

3,737

3,683

3,896

715

2,153

11,316

5,545

11,957

11,162

7,931

4,209

7,723

31,050

17,491

0.30

0.41

(0.29

)

(1.64

)

0.30

0.43

0.60

0.04

(0.04

)

0.03

(0.03

)

(0.01

)

(0.01

)

1.65

(0.01

)

(0.01

)

(0.06

)

0.09

(0.06

)

(0.05

)

(0.01

)

(0.01

)

0.04

(0.01

)

0.51

0.02

0.01

0.03

0.01

0.03

0.35

0.32

0.23

0.14

0.26

0.90

0.59

11,957

11,162

7,931

4,209

7,723

31,050

17,491

8,702,227

8,918,075

9,015,880

9,060,481

9,203,884

8,877,578

8,915,076

712,600

709,839

731,592

662,190

672,762

717,941

669,845

0.55

0.50

0.35

0.19

0.34

0.47

0.26

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.

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,

2025

2024

2025

2024

53,828

53,209

52,989

51,235

45,603

160,026

130,776

(94

)

(64

)

(56

)

(2,911

)

(554

)

(214

)

(544

)

(191

)

(257

)

(252

)

(191

)

(155

)

(700

)

(608

)

53,543

52,888

52,681

48,133

44,894

159,112

129,624

4,746

10,277

5,074

(71,022

)

6,277

20,097

13,577

1,831

(1,656

)

152

1,136

(974

)

327

(197

)

(661

)

72,315

(661

)

(2,590

)

194

3,836

(2,396

)

(284

)

5,916

6,031

5,420

5,981

5,302

17,367

13,379

43,365

40,356

59,676

45,630

38,696

143,397

117,635

(2,572

)

(78

)

(81

)

(85

)

(90

)

(93

)

(244

)

(292

)

(17,636

)

(17,636

)

(1,053

)

(395

)

(218

)

(10

)

(1,447

)

(504

)

42,234

39,880

41,956

42,750

38,593

124,070

116,839

53,828

53,209

52,989

51,235

45,603

160,026

130,776

4,746

10,277

5,074

(71,022

)

6,277

20,097

13,577

(43,365

)

(40,356

)

(59,676

)

(45,630

)

(38,696

)

(143,397

)

(117,635

)

15,209

23,130

(1,613

)

(65,417

)

13,184

36,726

26,718

53,543

52,888

52,681

48,133

44,894

159,112

129,624

5,916

6,031

5,420

5,981

5,302

17,367

13,379

(42,234

)

(39,880

)

(41,956

)

(42,750

)

(38,593

)

(124,070

)

(116,839

)

17,225

19,039

16,145

11,364

11,603

52,409

26,164

71.0

67.7

72.2

79.0

77.2

70.3

81.8

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,

2025

2024

2025

2024

53,828

53,209

52,989

51,235

45,603

160,026

130,776

(94

)

(64

)

(56

)

(2,911

)

(554

)

(214

)

(544

)

(191

)

(257

)

(252

)

(191

)

(155

)

(700

)

(608

)

100

288

298

53,639

52,984

52,777

48,231

44,994

159,400

129,922

(1,498

)

(878

)

(294

)

(648

)

(1,647

)

(2,670

)

(2,944

)

52,141

52,106

52,483

47,583

43,347

156,730

126,978

8,183,818

8,405,053

8,471,609

8,590,022

8,712,443

8,352,437

8,437,288

2.62

2.52

2.49

2.25

2.07

2.54

2.05

2.55

2.48

2.22

1.99

2.50

2.01

94,970

94,758

92,368

94,104

95,780

282,096

281,467

(94

)

(64

)

(56

)

(364

)

(214

)

(378

)

(195

)

(260

)

(252

)

(216

)

(168

)

(707

)

(661

)

94,681

94,434

92,060

93,917

95,248

281,175

280,428

6,597,315

6,681,009

6,674,665

6,783,264

6,740,579

6,650,712

6,766,650

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.

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,

2025

2024

711,226

706,377

702,851

724,539

666,891

(17,636

)

(17,636

)

(854

)

(940

)

(1,029

)

(1,123

)

(1,220

)

710,372

705,437

701,822

705,780

648,035

8,871,991

8,776,524

9,008,396

9,038,972

9,280,886

(17,636

)

(17,636

)

(854

)

(940

)

(1,029

)

(1,123

)

(1,220

)

8,871,137

8,775,584

9,007,367

9,020,213

9,262,030

8.01

8.04

7.79

7.82

7.00

SOURCE: Flushing Financial Corporation