Flushing Financial Corporation reported a GAAP earnings per share of $0.41 for the second quarter of 2025, marking a substantial 128% increase year-over-year. Core earnings per share also rose significantly by 78% year-over-year to $0.32, demonstrating broad-based profitability improvement.
The company achieved notable Net Interest Margin (NIM) expansion, with GAAP NIM increasing by 49 basis points year-over-year to 2.54%, and core NIM expanding by 46 basis points to 2.52%. Pre-Provision Pre-Tax Net Revenue (PPNR) reached $23.1 million, with core PPNR at $19 million, both achieving their highest levels since 2022.
A significant tailwind for future profitability is the embedded loan repricing opportunity, with approximately $2.1 billion of real estate loans scheduled to reprice at rates around 160 basis points higher through 2027. This is projected to increase annualized Net Interest Income by $5 million in 2025, $12 million in 2026, and $16 million in 2027, with a 92% retention rate on repriced loans in Q2 2025 at a 154 basis point average rate increase.
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