Slide 1: 3Q25 Earnings Conference Call
3Q25 Earnings Conference Call October 30, 2025 Building Rewarding Relationships FlushingBank.com
Slide 2: Safe Harbor Statement
Safe Harbor Statement “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this Presentation relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments and other statements that are not des
Slide 3: 2025 Financial Highlights
2025 Financial Highlights Improve Profitability ▪ Profitability Improved as GAAP and Core NIM Expansion of 10bps QoQ • GAAP NIM increased to 2.64% • Core NIM expands to 2.62% ▪ Asset Quality Stable to Improving • 3Q25 Net charge-offs totaled 7 bps (18 bps in 3Q24, and 15 bps in 2Q25) Maintain Preser
Slide 4: Area of Focus: Improving Profitability
Area of Focus: Improving Profitability ▪ Both GAAP and Core NIM expanded 10 bps QoQ, respectively ▪ Real estate loans to reprice ~147 bps higher through 2027 ▪ Noninterest bearing deposit growth ▪ Continue to invest in the business ▪ Focused on improving ROAE over time ▪ Capital to grow as profitabi
Slide 5: NIM Expansion GAAP & Core NII and NIM Increase
NIM Expansion GAAP & Core NII and NIM Increase Core NII FTE Net Interest Income and Margin increased by ($ Millions) $8.6 million or 10.00% $6 0. 0 19.1 % YoY 9.00% $53.6 $52.8 $53.0 8.00% $5 0. 0 $48.2 7.00% $45.0 6.00% $4 0. 0 5.00% 4.00% $3 0. 0 3.00% 2.49% 2.52% 2.62% 2.00% 2.25% $2 0. 0 2.07% 1
Slide 6: Contractual Real Estate Loan Repricing to Drive NIM Expansion
Contractual Real Estate Loan Repricing to Drive NIM Expansion Loan Repricing 1,6 50 ($ Millions) 1,4 50 +128 bps; +153 bps; +147 bps; $2.21 $11.31 $14.71 ▪ At June 30, 2025, $96.1 million of 1,2 50 1,0 50 $1,003 loans were due to reprice in 3Q25 at $739 850 199 bps higher to 650 6.42%2 450 $175 5.88
Slide 7: Noninterest Bearing Deposits Increase
Noninterest Bearing Deposits Increase Total Average Deposits ($ Millions) 800 0 5.00% $7,464 $7,450 $7,561 $7,607 $7,346 700 0 600 0 3.55% 4.00% ▪ Noninterest bearing 3.21% 3.10% 3.11% deposits increased 3.02% 500 0 3.00% 5.7% YoY 400 0 ▪ Incentive plans emphasize 2.00% 300 0 noninterest bearing dep
Slide 8: Area of Focus: Maintain Credit Discipline
Area of Focus: Maintain Credit Discipline ▪ Low risk profile ▪ Conservative loan underwriting ▪ History of low credit losses ▪ Enhanced focus on relationship pricing FlushingBank.com | NSQ: FFIC 8
Slide 9: Net Charge-offs Significantly Outperforming the Industry; Strong DCR
Net Charge-offs Significantly Outperforming the Industry; Strong DCR NCOs / Average Loans1 ▪ Multifamily and Investor CRE portfolios 3.00% debt coverage ratios (DCR) at ~1.7x2 2.50% ▪ Charge-offs limited due to DCR stress testing and underwriting practices: 2.00% ▪ 200 bps shock increase in rates pr
Slide 10: Noncurrent Loans Outperforming the Industry
Noncurrent Loans Outperforming the Industry Noncurrent Loans / Loans1 6.00% ▪ Flushing Financial has a proven track record of industry-leading credit quality 5.00% spanning two decades and multiple credit cycles 4.00% ▪ Average LTVs on the Real Estate portfolio is less than 35%2 3.00% ▪ Only $66.8 m
Slide 11: Conservative Underwriting In Multifamily Portfolio
Conservative Underwriting In Multifamily Portfolio Portfolio Data Points Multifamily NPLs/Loans: 53 bps Criticized and Classified Loans/Loans: 66 bps Weighted Average DCR1: 1.7x Portfolio Size: $2.4 billion Average Loan Size: $1.1 million 1 Based on most recent Annual Loan Review Data as of Septembe
Slide 12: Recent Multifamily Market Sales vs Flushing Exposure Per Apartment
Recent Multifamily Market Sales vs Flushing Exposure Per Apartment 200,000 FFIC Carrying Value Per Apartment Unit 180,000 Significantly Exceeded 3Q25 Market Sales Data 160,000 140,000 Sales Price Per Unit 120,000 100,000 77% 80,000 40% 42% 60,000 61% 40,000 20,000 - Bronx Brooklyn Northern Manhattan
Slide 13: Low Past Due Multifamily Loans
Low Past Due Multifamily Loans Multifamily Ratios vs Peer Banks – 2Q251 Multifamily Allowance for Credit Losses/Criticized and Classified Multifamily Loans – 2Q25 Criticized and Classified Multifamily Loans / Multifamily Allowance for Credit Losses / Total Multifamily Loans Criticized and Classified
Slide 14: Strong Credit Quality In Investor CRE
Strong Credit Quality In Investor CRE Portfolio Data Points Investor CRE NPLs/Loans: 111 bps Criticized and Classified Loans/Loans: 155 bps Weighted Average DCR1: 1.8x Portfolio Size: $2.0 billion Average Loan Size: $2.7 million 1 Based on most recent Annual Loan Review Data as of September 30, 2025
Slide 15: Area of Focus: Preserving Strong Liquidity and Capital
Area of Focus: Preserving Strong Liquidity and Capital ▪ Maintain ample liquidity with $3.9 billion of undrawn lines and resources as of September 30, 2025 ▪ Average Noninterest bearing deposits increased 5.7% YoY and 2.1% QoQ ▪ Uninsured and uncollateralized deposits only 17% of deposits as of Sept
Slide 16: Continued Growth in Asian Market Deposits
Continued Growth in Asian Market Deposits Asian Deposits ($MMs) $1,600 $1,400 ▪ Asian Communities – Total Loans $736.5 million and Deposits $1.4 billion $1,200 ▪ 11.3% Deposit CAGR from 3Q22-3Q25 $1,000 ▪ Multilingual Branch Staff Serves Diverse $800 Customer Base in NYC Metro Area ▪ About One Third
Slide 17: Outlook
Outlook Balance Sheet Noninterest Income ▪ Expect total assets to remain stable for the balance of ▪ Approximately $59.0 million of back-to-back swaps in 2025; loan growth market dependent the loan pipeline; banking services fee income to ▪ Stay focused on improving asset and funding mix; benefit in
Slide 18: Key Takeaways Meaningful Progress in All Areas
Key Takeaways Meaningful Progress in All Areas Improve Profitability ▪ GAAP and Core NIM each expanded 10 bps QoQ ▪ Real Estate loans expected to reprice ~147 bps higher through 2027 ▪ Opportunities to lower deposit costs ▪ Continuing to invest in people and branches to drive core business improveme
Slide 19: Appendix
Appendix
Slide 20: Key Community Events: Lunar New Year Parades
Key Community Events: Lunar New Year Parades FlushingBank.com | NSQ: FFIC 20
Slide 21: Digital Banking Usage Continues to Increase
Digital Banking Usage Continues to Increase 8.3% Increase in Monthly Mobile ~15,500 32,800 Deposit Active Users1 Users with Active Online Digital Banking Banking Status1 Enrollment1 YoY Growth Internet Banks Numerated ~16,600 iGObanking and BankPurely Small Business Lending national deposit gatherin
Slide 22: Annual Financial Highlights
Annual Financial Highlights 2024 2023 2022 2021 2020 2019 Reported Results (Loss) Earnings per Share ($1.07) $0.96 $2.50 $2.59 $1.18 $1.44 ROAA (0.35) % 0.34 % 0.93 % 1.00 % 0.48 % 0.59 % ROAE (4.67) 4.25 11.44 12.60 5.98 7.35 NIM FTE 2.15 2.24 3.11 3.24 2.85 2.47 Core1 Results EPS $0.73 $0.83 $2.49
Slide 23: 29 Year Track Record of Steady Growth
29 Year Track Record of Steady Growth Assets ($B) Total Gross Loans ($B) Total Deposits ($B) 9% CAGR 11% CAGR 9% CAGR $7.4 $8.9 $6.7 $0.7 $0.6 $0.3 1995 2000 2005 2010 2015 2020 2024 3Q25 1995 2000 2005 2010 2015 2020 2024 3Q25 1995 2000 2005 2010 2015 2020 2024 3Q25 Core EPS ($) Dividends per Share
Slide 24: Approach to Real Estate Lending: Low Leverage & Shared Philosophy
Approach to Real Estate Lending: Low Leverage & Shared Philosophy ▪ Since 1929, we have a long history of lending in metro New York City – Historically, credit quality has outperformed the industry and peers • From 2001-2024, median NCOs to average loans has been 4 bps compared to 59 bps for the ind
Slide 25: $6.7B Total Portfolio
Loans Secured by Real Estate Have an Average LTV of <35% 1% 90% Real Estate Based 1% 1% 2% 1% Multifamily: 36.0% 3% 4% Owner Occupied CRE: 12.0% Non Real Estate: 9.0% 5% General Commercial: 7.0% 36% One-to-four family - Mixed Use: 7.0% $6.7B 5% CRE - Shopping Center: 5.0% CRE - Strip Mall: 5.0% One-
Slide 26: Multifamily: Conservative Underwriting Standards
Multifamily: Conservative Underwriting Standards Portfolio Data Points Underwriting Standards at Origination Portfolio Size: $2.4 billion ▪ All loans underwritten with a 250-300 bps increase in rates at origination; Average Loan Size: $1.1 million especially when rates were low ▪ Debt coverage ratio
Slide 27: Multifamily: Manageable Repricing Risk
Multifamily: Manageable Repricing Risk Actual Repricing Rent Regulated Property At Origination At Reprice Date Market Rents Property At Origination At Reprice Date ($000s) 2020 At Reset CAGR 2025 ($000s) 2020 At Reset CAGR 2025 Purchase Price: $1,650 $1,650 Purchase Price: $12,600 $12,600 Loan Amoun
Slide 28: Multifamily: DCR Risks Are Well Contained
Multifamily: DCR Risks Are Well Contained Debt Coverage Ratio Details1 Key Data Points1 Multifamily weighted 1.7x2 ▪ Underwriting assumes higher rates at origination average DCR: leading to strong DCRs Amount of loans with a ▪ Low amount of loans with DCRs less than 1.2x $152.5 million3 DCR of 1.0-1
Slide 29: Multifamily: Minimal Interest Only; High Quality Performance
Multifamily: Minimal Interest Only; High Quality Performance Interest Only Loan Details1 Key Data Points1 Total interest only loans: $98.9 million ▪ Interest only loans are typically only offered to Weighted average LTV2: 47% relationship customers who have a prior history with the Bank Weighted ave
Slide 30: Multifamily: Rent Regulated Portfolio – Granular and Low Risk
Multifamily: Rent Regulated Portfolio – Granular and Low Risk Portfolio Data Points1 Key Data Points1 Portfolio Size: $1.4 billion ▪ New York City area has a shortage of affordable Average Loan Size: $1.3 million housing creating the need for rent regulated units; Current Weighted Average Coupon: 5.
Slide 31: Investor CRE: Conservative Underwriting Standards
Investor CRE: Conservative Underwriting Standards Portfolio Data Points Key Data Points1 Portfolio Size: $2.0 billion ▪ All loans underwritten with a 250-300 bps increase in rates at origination; especially when rates were low Average Loan Size: $2.7 million ▪ Debt coverage ratios (DCR) based on cur
Slide 32: Geographically Diverse Multifamily and CRE Portfolios
Geographically Diverse Multifamily and CRE Portfolios Multifamily Geography Non-Owner Occupied CRE Geography 14% 8% 17% 16% 3% 17% $2.4 Billion 8% $2.0 Billion 18% Portfolio Portfolio 28% 6% 5% 18% 21% 21% Bronx Kings Manhattan Bronx Kings Manhattan Queens Other Queens Other NY Nassau Suffolk NJ CT/
Slide 33: Well-Diversified Commercial Business Portfolio
Well-Diversified Commercial Business Portfolio Real Estate 1.9% 1.6% 1.9% 1.6% 12.3% Commercial Business Collateral 2.1% $779MM 2.2% 2.5% ▪ Primarily in market lending 2.6% 3.6% 10.9% ▪ Annual sales up to $250 million 3.6% Lines of credit and term loans, including owner 3.8% $1.4B ▪ occupied mortgag
Slide 34: Low Risk Credit Profile Results
Low Risk Credit Profile Results ACL by Loan Segment (3Q25) 9.16% 0.49% 0.67% 0.32% 0.34% 0.29% 0.94% 10 .0 0% 0. 00 % -1 0. 00% $2,443 -2 0. 00% $1,960 -3 0. 00% $1,373 -4 0. 00% -5 0. 00% $483 $335 -6 0. 00% $52 $11 -7 0. 00% Multifamily Commercial Real 1-4 Family - Mixed 1-4 Family - Construction
Slide 35: Interest Rate Hedges: Shifting more towards Neutral
Interest Rate Hedges: Shifting more towards Neutral Annualized 4Q25 2026 2027 Net Interest Swap Notional Maturities Maturities Maturities Income1 Type ($ Million) ($ Million) ($ Million) ($ Million) ($ Million) Loans2 $647.3 $- $313.9 $115.0 $7.0 Funding2 $725.8 $- $180.0 $125.0 $9.3 ▪ The $1.4 bill
Slide 36: Reconciliation of GAAP Earnings (Loss) and Core Earnings
Reconciliation of GAAP Earnings (Loss) and Core Earnings Non-cash Fair Value Adjustments to GAAP Earnings 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
Slide 37: Reconciliation of GAAP Earnings (Loss)
For the three months ended For the nine months ended (Dollars in thousands, September 30, June 30, March 31, December 31, September 30, September 30, September 30, except per share data) 2025 2025 2025 2024 2024 2025 2024 Reconciliation GAAP income (loss) before income taxes $ 13,678 $ 18,936 $ (5,9
Slide 38: Reconciliation of GAAP Revenue and Pre-provision Pre-tax Net Revenue
For the three months ended For the nine months ended Reconciliation September 30, June 30, March 31, December 31, September 30, September 30, September 30, (Dollars in thousands) 2025 2025 2025 2024 2024 2025 2024 of GAAP GAAP Net interest income $ 53,828 $ 53,209 $ 52,989 $ 51,235 $ 45,603 $ 160,02
Slide 39: Reconciliation of GAAP to Core Net Interest Income
For the three months ended For the nine months ended Reconciliation (Dollars in thousands) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 September 30, 2025 September 30, 2024 of GAAP GAAP net interest income $ 53,828 $ 53,209 $ 52,989 $ 51,235 $ 45,603 $ 160,02
Slide 40: Calculation of Tangible Stockholders' Common Equity to Tangible Assets
Calculation of (Dollars in thousands) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Tangible T otal Equity Less: $ 711,226 $ 706,377 $ 702,851 $ 724,539 $ 666,891 Stockholders’ Goodwill — — — (17,636) (17,636) Core deposit intangibles (854) (940) (1,029) (1,123
Slide 41: Reconciliation of GAAP Earnings (Loss) and Core Earnings
Years Ended Reconciliation December 31, December 31, December 31, December 31, December 31, December 31, (Dollars In thousands, except per share data) 2024 2023 2022 2021 2020 2019 GAAP (loss) income before income taxes $ (48,267) $ 39,833 $ 104,852 $ 109,278 $ 45,182 $ 53,331 of GAAP Day 1, Provisi
Slide 42: Reconciliation of GAAP Revenue and Pre-Provision Pre-Tax Net Revenue
Years Ended December 31, December 31, December 31, December 31, December 31, December 31, Reconciliation (Dollars In thousands) 2024 2023 2022 2021 2020 2019 GAAP Net interest income $ 182,011 $ 179,152 $ 243,616 $ 247,969 $ 195,199 $ 161,940 Net (gain) loss from fair value of GAAP adjustments on he
Slide 43: Reconciliation of GAAP and Core Net Interest Income and NIM
Reconciliation Years Ended December 31, December 31, December 31, December 31, December 31, December 31, (Dollars In thousands) 2024 2023 2022 2021 2020 2019 of GAAP and GAAP net interest income Net (gain) loss from fair value adjustments $ 182,011 $ 179,152 $ 243,616 $ 247,969 $ 195,199 $ 161,940 C
Slide 44: Calculation of Tangible Stockholders' Common Equity
Calculation of (Dollars in thousands) T otal Equity $ December 31, 2024 724,539 $ December 31, 2023 669,837 $ December 31, 2022 677,157 $ December 31, 2021 679,628 $ December 31, 2020 618,997 $ December 31, 2019 579,672 Tangible Less: Goodwill (17,636) (17,636) (17,636) (17,636) (17,636) (16,127) Co
Slide 45: Contact Details
Contact Details Susan K. Cullen SEVP, CFO & Treasurer scullen@flushingbank.com (718) 961-5400
Slide 46: FlushingBank.com
FFICIQAGS INE Financial Corporation