Flushing Financial Corp (NASDAQ: FFIC)

Flushing Financial Corp operates as the holding company for Flushing Bank, a New York State-chartered commercial bank. The Bank provides a full range of banking services, including accepting deposits and making loans. Its primary business involves attracting retail deposits from the general public and investing those funds in various loan types and securities.

Flushing Financial Corp generates revenue principally from interest on loans, interest and dividends on securities in its investment portfolio, and fees from mortgage-backed securities. The Bank’s primary sources of funds include deposits, Federal Home Loan Bank of New York borrowings, and principal and interest payments on loans. The company also earns income from the sale of loans and securities, and from servicing loans for others.

The company operates through the following segments:

• Mortgage Loans: This segment includes multi-family residential, commercial real estate, one-to-four family mixed-use property, one-to-four family residential, and construction loans. The Bank originates and purchases these loans, with mortgage loans representing 78.7% of gross loans at December 31, 2025. Multi-family residential loans alone accounted for 35.9% of gross loans, the largest single category.

• Commercial Business Loans: This segment comprises Small Business Administration loans and other commercial business and other loans. These loans are provided to businesses in the New York City metropolitan area with annual sales up to $250 million. At December 31, 2025, commercial business and other loans totaled $1,395.9 million, or 21.0% of gross loans, and included lines of credit, term loans, and owner-occupied mortgages.

Flushing Financial Corp operates as a community-oriented commercial bank in a highly competitive market. It faces intense competition from numerous banks, thrifts, credit unions, mortgage banks, and insurance companies in the New York City metropolitan area. The Bank’s market share of deposits was 0.35% as of June 30, 2025, ranking it 23rd among financial institutions in its service area. Competitive advantages include its focus on multi-ethnic communities, timely loan responses, and a network of quality brokers and business sources.

The Bank serves retail depositors, small businesses, and commercial clients in the New York City metropolitan area. Its customer base includes individuals, families, and businesses located in Queens, Brooklyn, Manhattan, Nassau, and Suffolk Counties. The Bank also serves public municipalities through its government banking unit, providing services to counties, cities, towns, villages, school districts, libraries, fire districts, and courts.