Exhibit 99.1

0	● ●
	John R. Buran, President and CEO Commentary
Flushing Financial Corporation Reports 3Q23 GAAP EPS of $0.32 and Core EPS of $0.31; Delivered Sequential EPS and GAAP NIM Expansion as Action Plan Continues to Progress; Opened 27th Branch Expanding Asian Market Presence
“We delivered sequential EPS and GAAP NIM expansion through the continued execution of our action plan to drive long-term profitability while advancing our near-term areas of focus amid persisting challenges in the operating environment. In 3Q23, we made significant progress on delivering against all pillars of our action plan, including: 1) reduced interest rate risk and moved closer to our goal of interest rate neutrality, including the addition of $100 million of interest rate hedges; 2) increased yields on new loans 288 bps YoY and 34 bps QoQ, with an emphasis on floating rate loans and back-to-back swaps; 3) increased noninterest bearing deposits $46.6 million QoQ; 4) saw strength in debt service coverage for our multifamily and investor commercial real estate portfolios repricing through 2025, with our stress testing (200 bps increase in rates and 10% rise  in operating expenses) indicating a resilient borrower base; Manhattan office buildings are minimal at 0.6% of net loans; 5) maintained stability in available liquidity and capital ratios; and 6) emphasized noninterest expenses. We’re confident that our ability to execute will guide us through the near-term challenges and enable the Bank to emerge as a strong and more profitable institution.” - John R. Buran, President and CEO
Uniondale, N.Y., October 31, 2023 (GLOBAL NEWSWIRE) – QoQ, EPS Increases; GAAP NIM Expands; Minimal Core NIM Compression. The Company reported third quarter 2023 GAAP EPS of $0.32, up 10.3% QoQ, but down 57.9% YoY. Core EPS totaled $0.31, an increase of 19.2% QoQ, but a decrease of 50.0% YoY. The improvement in core EPS QoQ was primarily driven by lower credit costs, higher noninterest income, and lower operating expenses, partially offset by slight NIM compression. GAAP NIM of 2.22% increased 4 bps QoQ but declined 85 bps YoY; while Core NIM of 2.14% compressed 3 bps QoQ and 89 bps YoY. Our actions to reduce interest rate risk, including adding interest rate hedges and floating rate loans, assisted in reducing the NIM compression and are beneficial in a “higher-for-longer” rate environment. Strong Credit Quality; Stable Capital. Nonperforming assets decreased 23.2% YoY and 3.1% QoQ while net recoveries were $42,000 in 3Q23. Capital continues to be sound with TCE/TA1 of 7.59% at September 30, 2023, compared to 7.71% at June 30, 2023.

Key Financial Metrics²

	3Q23	2Q23	1Q23	4Q22	3Q22	9M23	9M22
GAAP:
EPS	$0.32	$0.29	$0.17	$0.34	$0.76	$0.77	$2.15
ROAA (%)	0.44	0.41	0.24	0.48	1.11	0.36	1.08
ROAE (%)	5.57	5.12	3.02	6.06	13.91	4.56	13.24
NIM FTE3 (%)	2.22	2.18	2.27	2.70	3.07	2.22	3.26
Core:
EPS	$0.31	$0.26	$0.10	$0.57	$0.62	$0.67	$1.92
ROAA (%)	0.43	0.37	0.14	0.82	0.90	0.31	0.96
ROAE (%)	5.41	4.66	1.76	10.29	11.24	3.93	11.80
Core NIM FTE (%)	2.14	2.17	2.25	2.63	3.03	2.18	3.22
Credit Quality:
NPAs/Loans & OREO (%)	0.56	0.58	0.61	0.77	0.72	0.56	0.72
ACLs/Loans (%)	0.57	0.57	0.56	0.58	0.59	0.57	0.59
ACLs/NPLs (%)	225.38	207.08	182.89	124.89	142.29	225.38	142.29
NCOs/Avg Loans (%)	-	0.09	0.54	0.05	0.02	0.21	0.01
Balance Sheet:
Avg Loans ($B)	$6.8	$6.8	$6.9	$6.9	$6.9	$6.8	$6.7
Avg Dep ($B)	$6.8	$6.9	$6.8	$6.7	$6.3	$6.8	$6.4
Book Value/Share	$23.15	$23.18	$22.84	$22.97	$22.47	$23.15	$22.47
Tangible BV/Share	$22.48	$22.51	$22.18	$22.31	$21.81	$22.48	$21.81
TCE/TA (%)	7.59	7.71	7.73	7.82	7.62	7.59	7.62

¹ Tangible Common Equity (“TCE”)/Total Assets (“TA”) ² See “Reconciliation of GAAP Earnings and Core Earnings”, “Reconciliation of GAAP Revenue and Pre-Provision Pre-Tax Net Revenue”, and “Reconciliation of GAAP 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, CFO and Treasurer, 718-961-5400‌1

3Q23 Highlights
● Net interest margin FTE increased 4 bps QoQ, but decreased 85 bps YoY to 2.22%; Core net interest margin FTE decreased 3 bps QoQ and 89 bps YoY to 2.14%; Both GAAP and Core NIMs benefited from $100 million of new interest rate hedges added during the quarter and the closing of $120.5 million of back-to-back swap loans that generate noninterest income immediately and interest income over the life of the loan while adding floating rate assets to provide additional interest rate risk neutralization ● Average total deposits increased 8.6% YoY, but declined 1.2% QoQ to $6.8 billion; Noninterest bearing deposits increased $46.6 million QoQ despite new checking account openings declining 5% YoY in 3Q23; average CDs totaled $2.3 billion, up 116.6% YoY and 11.9% QoQ; growth in CDs generally lengthens the duration of customer deposits and helps reduce rate sensitivity ● Bensonhurst branch opened on September 29, 2023, which expands our Asian market presence ● Period end net loans decreased 0.8% YoY, but increased 0.9% QoQ; loan closings were $241.5 million down 47.9% YoY, but up 52.1% QoQ; the yield on closings increased 288 bps YoY and 34 bps QoQ to 7.48% ● Loan pipeline increased 17.5% YoY, but decreased 12.6% QoQ to $363.3 million; approximately 60% of the loan pipeline consists of floating rate loans including back-to-back swap loans ● NPAs declined to $38.4 million from $50.0 million a year ago and $39.6 million in the prior quarter ● Provision for credit losses was $0.6 million in 3Q23 compared to $2.1 million in 3Q22 and $1.4 million in 2Q23; net recoveries were $42,000 in 3Q23 compared to net charge-offs of $0.3 million in 3Q22 and $1.6 million in 2Q23 ● Tangible Common Equity to Tangible Assets declined to 7.59% at 3Q23 compared to 7.71% at 2Q23 ● Repurchased 59,352 shares at an average price of $15.88 or a 29.4% discount to September 30, 2023, tangible book value of $22.48
Areas of Focus
Interest Rate Risk	● Continued to take actions to position the Company’s balance sheet more towards interest rate risk neutral ● During 3Q23, the Company added $100 million of interest rate hedges ● Approximately 60% of the loan pipeline consists of floating rate loans including back-to-back loan swaps ● Rate sensitivity to a +100 bps shock has been reduced by 66% over the past year ● Increased noninterest bearing deposits by $46.6 million QoQ
Credit Quality	● Manhattan office buildings are minimal at  0.6% of net loans ● Over 88% of the loan portfolio is collateralized by real estate with an average loan to value less than 36% ● Debt service coverage ratio is 1.8x for multifamily and investor commercial real estate loans that reprice through 2025
Liquidity	● The Company maintains ample liquidity with $3.7 billion of undrawn lines and resources ● Uninsured and uncollateralized deposits were 16% of total deposits ● Total deposits increased 9.1% YoY ● Checking account openings were down 5.0% YoY in 3Q23
Customer Experience	● Approximately 33% of our branches are in Asian communities ● Bensonhurst, our 27th branch, opened on September 29, 2023 ● Digital banking usage continues to increase with double digit growth in monthly mobile deposit active users and digital banking enrollment in September 2023 versus a year ago

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌2

Income Statement Highlights

						YoY		QoQ
($000s, except EPS)	3Q23	2Q23	1Q23	4Q22	3Q22	Change		Change
Net Interest Income	$44,427	$43,378	$45,262	$54,201	$61,206	(27.4)	%	2.4	%
Provision (Benefit) for Credit Losses	596	1,416	7,508	(12)	2,145	(72.2)		(57.9)
Noninterest Income (Loss)	3,476	5,122	6,908	(7,652)	8,995	(61.4)		(32.1)
Noninterest Expense	34,415	35,279	37,703	33,742	35,634	(3.4)		(2.4)
Income Before Income Taxes	12,892	11,805	6,959	12,819	32,422	(60.2)		9.2
Provision for Income Taxes	3,493	3,177	1,801	2,570	8,980	(61.1)		9.9
Net Income	$9,399	$8,628	$5,158	$10,249	$23,442	(59.9)		8.9
Diluted EPS	$0.32	$0.29	$0.17	$0.34	$0.76	(57.9)		10.3
Avg. Diluted Shares (000s)	29,703	30,090	30,265	30,420	30,695	(3.2)		(1.3)
Core Net Income1	$9,135	$7,854	$3,003	$17,399	$18,953	(51.8)		16.3
Core EPS1	$0.31	$0.26	$0.10	$0.57	$0.62	(50.0)		19.2

¹ See Reconciliation of GAAP Earnings and Core Earnings

Net interest income decreased YoY but increased QoQ.

● Net interest margin, FTE of 2.22% decreased 85 bps YoY, but increased 4 bps QoQ

● Prepayment penalty income from loans and securities, net reversals and recoveries of interest from nonaccrual loans, net gains and losses from fair value adjustments on qualifying hedges, and purchase accounting accretion totaled $2.6 million (13 bps to the NIM) compared to $0.5 million (3 bps) in 2Q23, $1.1 million (6 bps) in 1Q23, $2.4 million (12 bps) in 4Q22, and $2.2 million (11 bps) in 3Q22

● Excluding the items in the previous bullet, net interest margin was 2.09% in 3Q23, 2.15% in 2Q23, 2.21% in 1Q23, 2.58% in 4Q22, and 2.96% in 3Q22

The provision for credit losses declined YoY and QoQ.

● Net charge-offs (recoveries) were $(42,000) in 3Q23 (less than (1) bp of average loans) compared to $1.6 million in 2Q23 (9 bps), $9.2 million in 1Q23 (54 bps of average loans), $0.8 million in 4Q22 (5 bps of average loans), and $0.3 million in 3Q22 (2 bps of average loans)

● 1Q23 net charge-offs were primarily related to a commercial business relationship that was placed on nonaccrual in 2Q22

Noninterest income (loss) declined YoY and QoQ.

● Noninterest income included net gains (losses) from fair value adjustments of $(1.2) million in 3Q23 ($(0.03) per share, net of tax), $0.3 million in 2Q23 ($0.01 per share, net of tax), $2.6 million in 1Q23 ($0.06 per share, net of tax), $(0.6) million in 4Q22 ($(0.02) per share, net of tax), and $5.6 million in 3Q22 ($0.13 per share, net of tax)

● Loss on the sale of securities was $10.9 million ($0.27 per share, net of tax) in 4Q22 as the Company sold $84.2 million of mortgage-based securities with an approximate yield of 1.17%; proceeds were primarily reinvested in 1Q23 into floating rate securities that had a yield at that time that approximated 6.40%

● Life insurance proceeds were $23,000 in 3Q23 (less than $0.01 per share), $0.6 million ($0.02 per share) in 2Q23, and $0.3 million ($0.01 per share) in 4Q22

● Absent all above items and other immaterial adjustments, core noninterest income was $4.7 million in 3Q23, up 39.5% YoY and 10.1% QoQ

● Back-to-back swap loan closings of $120.5 million in 3Q23 (compared to $11.5 million in 2Q23) contributed to the growth in core noninterest income; the Company earns fee income on back-to-back swap loan closings

Noninterest expense decreased YoY and QoQ.

● Other operating expenses include $0.6 million reduction in reserves for unfunded commitments in 3Q22; Seasonal compensation expense was $4.1 million in 1Q23

● Excluding the effects of other immaterial adjustments, core operating expenses were $34.3 million in 3Q23, down 3.4% YoY, and 2.4% QoQ

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌3

● GAAP noninterest expense to average assets was 1.62% in 3Q23, 1.67% in 2Q23, 1.78% in 1Q23, 1.58% in 4Q22, and 1.69% in 3Q22

● Noninterest expense largely includes $3.3 million benefit from Employee Retention Tax Credit refunds in 3Q23 and $7.0 million year to date; these refunds are not expected to be repeated in 2024

Provision for income taxes declined YoY and increased QoQ.

● The effective tax rate was 27.1% in 3Q23, 26.9% in 2Q23, 25.9% in 1Q23, 20.0% in 4Q22, and 27.7% in 3Q22

● The 4Q22 effective tax rate declined due to preferential tax items having a larger impact due to lower levels of pre-tax income

Balance Sheet, Credit Quality, and Capital Highlights

						YoY		QoQ
	3Q23	2Q23	1Q23	4Q22	3Q22	Change		Change
Averages ($MM)
Loans	$6,813	$6,830	$6,871	$6,881	$6,861	(0.7)	%	(0.2)	%
Total Deposits	6,819	6,900	6,810	6,678	6,277	8.6		(1.2)
Credit Quality ($000s)
Nonperforming Loans	$17,405	$18,637	$21,176	$32,382	$29,003	(40.0)	%	(6.6)	%
Nonperforming Assets	38,386	39,618	42,157	53,363	49,984	(23.2)		(3.1)
Criticized and Classified Loans	74,169	48,675	58,130	68,093	61,684	20.2		52.4
Criticized and Classified Assets	95,150	69,656	79,111	89,073	82,665	15.1		36.6
Allowance for Credit Losses/Loans (%)	0.57	0.57	0.56	0.58	0.59	(2)	bps	-	bps
Capital
Book Value/Share	$23.15	$23.18	$22.84	$22.97	$22.47	3.0	%	(0.1)	%
Tangible Book Value/Share	22.48	22.51	22.18	22.31	21.81	3.1		(0.1)
Tang. Common Equity/Tang. Assets (%)	7.59	7.71	7.73	7.82	7.62	(3)	bps	(12)	bps
Leverage Ratio (%)	8.54	8.56	8.58	8.61	8.74	(20)		(2)

Average loans decreased YoY and QoQ.

● Period end net loans totaled $6.9 billion, down 0.8% YoY, but up 0.9% QoQ

● Total loan closings were $241.5 million in 3Q23, $158.8 million in 2Q23, $173.5 million in 1Q23, $225.2 million in 4Q22, and $463.7 million in 3Q22; the loan pipeline was $363.3 million at September 30, 2023, up 17.5% YoY, but down 12.6% QoQ

● The diversified loan portfolio is over 88% collateralized by real estate with an average loan-to-value ratio of less than 36%

● Manhattan office buildings are approximately 0.6% of net loans

Average total deposits increased YoY but declined QoQ.

● Average CDs totaled $2.3 billion, up 116.6% YoY and 11.9% QoQ; CDs generally lengthen the duration of customer deposits and reduce sensitivity to rising rates

● Average noninterest bearing deposits decreased 18.9% YoY, but increased 0.2% QoQ in 3Q23 and comprised 12.5% of average total deposits in 3Q23 compared to 16.7% a year ago

● Period end noninterest bearing deposits decreased 11.9% YoY, but increased 5.6% QoQ

Credit Quality: Nonperforming loans declined YoY and QoQ.

● Criticized and classified loans were 108 bps of gross loans at 3Q23 compared to 71 bps at 2Q23, 84 bps at 1Q23, 98 bps at 4Q22, and 89 bps at 3Q22

● Allowance for credit losses were 225.4% of nonperforming loans at 3Q23 compared to 207.1 % at 2Q23, and 142.3% at 3Q22

Capital: Book value per common share and tangible book value per common share, a non-GAAP measure, increased YoY but declined slightly QoQ to $23.15 and $22.48, respectively.

● The Company paid a dividend of $0.22 per share in 3Q23 and has ample available liquidity to meet its obligations

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌4

● The Company repurchased 59,352 shares in 3Q23 at an average price of $15.88, representing a 29.4% discount to tangible book value, with 846,779shares remaining subject to repurchase under the authorized stock repurchase program, which has no expiration or maximum dollar limit

● Tangible common equity to tangible assets was 7.59% at 3Q23 compared to 7.71% at 2Q23 and 7.62% at 3Q22

The Company and the Bank remain well capitalized under all applicable regulatory requirements

Conference Call Information and Fourth Quarter Earnings Release Date

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 Wednesday, November 1, 2023, at 9:30 AM (ET) to discuss the Company’s third quarter results and strategy.

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

● Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=trpzpC32

● Dial-in for Replay: 1-877-344-7529; Canada 855-669-9658

● Replay Access Code: 2779651

● The conference call will be simultaneously webcast and archived

Fourth Quarter 2023 Earnings Release Date:

The Company plans to release Fourth Quarter 2023 financial results after the market close on January 25, 2024; followed by a conference call at 11:00 AM (ET) on January 26, 2024.

A detailed announcement will be issued prior to the third quarter’s close confirming the date and time of the earnings 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 FlushingBank.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, 2022 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 -

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌5

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,			September 30,			September 30,
(Dollars in thousands, except per share data)	2023			2023			2023			2022			2022			2023			2022
Performance Ratios (1)
Return on average assets		0.44	%		0.41	%		0.24	%		0.48	%		1.11	%		0.36	%		1.08	%
Return on average equity		5.57			5.12			3.02			6.06			13.91			4.56			13.24
Yield on average interest-earning assets (2)		5.20			4.84			4.61			4.44			4.10			4.88			3.91
Cost of average interest-bearing liabilities		3.52			3.15			2.80			2.11			1.25			3.16			0.79
Cost of funds		3.13			2.80			2.47			1.84			1.08			2.80			0.68
Net interest rate spread during period (2)		1.68			1.69			1.81			2.33			2.85			1.72			3.12
Net interest margin (2)		2.22			2.18			2.27			2.70			3.07			2.22			3.26
Noninterest expense to average assets		1.62			1.67			1.78			1.58			1.69			1.69			1.78
Efficiency ratio (3)		72.33			74.02			76.48			59.55			55.68			74.30			55.57
Average interest-earning assets to averageinterestbearingliabilities		1.18	X		1.18	X		1.19	X		1.21	X		1.22	X		1.19	X		1.22	X
Average Balances
Total loans, net	$	6,813,019		$	6,829,648		$	6,871,192		$	6,881,245		$	6,861,463		$	6,837,740		$	6,694,528
Total interest-earning assets		8,017,460			7,986,020			7,996,677			8,045,691			7,979,070			8,000,129			7,764,873
Total assets		8,504,364			8,461,827			8,468,311			8,518,019			8,442,657			8,478,299			8,236,070
Total deposits		6,819,397			6,899,617			6,810,485			6,678,383			6,276,613			6,843,200			6,375,372
Total interest-bearing liabilities		6,771,860			6,756,859			6,703,558			6,662,209			6,553,087			6,744,342			6,371,542
Stockholders' equity		675,513			673,943			683,071			676,165			674,282			677,481			671,588
Per Share Data
Book value per common share (4)	$	23.15		$	23.18		$	22.84		$	22.97		$	22.47		$	23.15		$	22.47
Tangible book value per common share (5)	$	22.48		$	22.51		$	22.18		$	22.31		$	21.81		$	22.48		$	21.81
Stockholders' Equity
Stockholders' equity	$	669,141		$	671,303		$	673,459		$	677,157		$	670,719		$	669,141		$	670,719
Tangible stockholders' equity		649,854			651,898			653,932			657,504			650,936			649,854			650,936
Consolidated Regulatory Capital Ratios
Tier 1 capital	$	739,364		$	735,810		$	737,138		$	746,880		$	749,526		$	739,364		$	749,526
Common equity Tier 1 capital		692,914			689,876			690,846			698,258			701,532			692,914			701,532
Total risk-based capital		968,152			963,840			965,384			975,709			979,021			968,152			979,021
Risk Weighted Assets		6,802,385			6,649,252			6,659,532			6,640,542			6,689,284			6,802,385			6,689,284
Tier1leveragecapital (wellcapitalized = 5%)		8.54	%		8.56	%		8.58	%		8.61	%		8.74	%		8.54	%		8.74	%
CommonequityTier1risk-basedcapital (wellcapitalized = 6.5%)		10.19			10.38			10.37			10.52			10.49			10.19			10.49
Tier 1 risk-based capital (well capitalized = 8.0%)		10.87			11.07			11.07			11.25			11.20			10.87			11.20
Total risk-based capital (well capitalized = 10.0%)		14.23			14.50			14.50			14.69			14.64			14.23			14.64
Capital Ratios
Average equity to average assets		7.94	%		7.96	%		8.07	%		7.94	%		7.99	%		7.99	%		8.15	%
Equity to total assets		7.80			7.92			7.94			8.04			7.84			7.80			7.84
Tangible common equity to tangible assets (6)		7.59			7.71			7.73			7.82			7.62			7.59			7.62
Asset Quality
Nonaccrual loans (7)	$	17,405		$	18,637		$	21,176		$	29,782		$	27,003		$	17,405		$	27,003
Nonperforming loans		17,405			18,637			21,176			32,382			29,003			17,405			29,003
Nonperforming assets		38,386			39,618			42,157			53,363			49,984			38,386			49,984
Net charge-offs (recoveries)		(42)			1,560			9,234			811			290			10,752			724
Asset Quality Ratios
Nonperforming loans to gross loans		0.25	%		0.27	%		0.31	%		0.47	%		0.42	%		0.25	%		0.42	%
Nonperforming assets to total assets		0.45			0.47			0.50			0.63			0.58			0.45			0.58
Allowance for credit losses to gross loans		0.57			0.57			0.56			0.58			0.59			0.57			0.59
Allowance for credit losses to nonperforming assets		102.19			97.41			91.87			75.79			82.56			102.19			82.56
Allowance for credit losses to nonperforming loans		225.38			207.08			182.89			124.89			142.29			225.38			142.29
Net charge-offs (recoveries) to average loans		—			0.09			0.54			0.05			0.02			0.21			0.01
Full-service customer facilities		27			26			26			25			25			27			25

(See footnotes on next page)

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌6

⁽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”.

⁽⁷⁾ Excludes performing nonaccrual TDR loans in periods prior to 1Q23.

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌7

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	For the three months ended										For the nine months ended
	September 30,		June 30,		March 31,		December 31,		September 30,		September 30,		September 30,
(In thousands, except per share data)	2023		2023		2023		2022		2022		2023		2022
Interest and Dividend Income
Interest and fees on loans	$	91,466	$	85,377	$	82,889	$	81,033	$	75,546	$	259,732	$	212,254
Interest and dividends on securities:
Interest		10,383		9,172		7,240		6,511		5,676		26,795		14,350
Dividends		33		30		29		24		17		92		36
Other interest income		2,154		1,982		1,959		1,702		506		6,095		716
Total interest and dividend income		104,036		96,561		92,117		89,270		81,745		292,714		227,356
Interest Expense
Deposits		50,066		46,249		39,056		27,226		11,965		135,371		20,059
Other interest expense		9,543		6,934		7,799		7,843		8,574		24,276		17,882
Total interest expense		59,609		53,183		46,855		35,069		20,539		159,647		37,941
Net Interest Income		44,427		43,378		45,262		54,201		61,206		133,067		189,415
Provision (benefit) for credit losses		596		1,416		7,508		(12)		2,145		9,520		5,093
Net Interest Income After Provision (Benefit) for Credit Losses		43,831		41,962		37,754		54,213		59,061		123,547		184,322
Noninterest Income (Loss)
Banking services fee income		2,636		1,780		1,411		1,231		1,351		5,827		3,891
Net loss on sale of securities		—		—		—		(10,948)		—		—		—
Net gain on sale of loans		—		54		54		46		—		108		73
Net gain on disposition of assets		—		—		—		104		—		—		—
Net gain (loss) from fair value adjustments		(1,246)		294		2,619		(622)		5,626		1,667		6,350
Federal Home Loan Bank of New York stock dividends		624		534		697		658		538		1,855		1,342
Life insurance proceeds		23		561		—		286		—		584		1,536
Bank owned life insurance		1,157		1,134		1,109		1,126		1,132		3,400		3,361
Other income		282		765		1,018		467		348		2,065		1,108
Total noninterest income (loss)		3,476		5,122		6,908		(7,652)		8,995		15,506		17,661
Noninterest Expense
Salaries and employee benefits		17,825		19,493		20,887		18,178		21,438		58,205		66,196
Occupancy and equipment		3,371		3,534		3,793		3,701		3,541		10,698		10,905
Professional services		3,042		2,657		2,483		2,130		2,570		8,182		7,077
FDIC deposit insurance		912		943		977		485		738		2,832		1,773
Data processing		1,422		1,473		1,435		1,421		1,367		4,330		4,174
Depreciation and amortization		1,482		1,482		1,510		1,535		1,488		4,474		4,395
Other real estate owned/foreclosure expense		185		150		165		35		143		500		259
Other operating expenses		6,176		5,547		6,453		6,257		4,349		18,176		15,171
Total noninterest expense		34,415		35,279		37,703		33,742		35,634		107,397		109,950
Income Before Provision for Income Taxes		12,892		11,805		6,959		12,819		32,422		31,656		92,033
Provision for Income Taxes		3,493		3,177		1,801		2,570		8,980		8,471		25,337
Net Income	$	9,399	$	8,628	$	5,158	$	10,249	$	23,442	$	23,185	$	66,696
Basic earnings per common share	$	0.32	$	0.29	$	0.17	$	0.34	$	0.76	$	0.77	$	2.15
Diluted earnings per common share	$	0.32	$	0.29	$	0.17	$	0.34	$	0.76	$	0.77	$	2.15
Dividends per common share	$	0.22	$	0.22	$	0.22	$	0.22	$	0.22	$	0.66	$	0.66
Basic average shares		29,703		30,090		30,265		30,420		30,695		30,017		30,960
Diluted average shares		29,703		30,090		30,265		30,420		30,695		30,017		30,960

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌8

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Unaudited)

	September 30,		June 30,		March 31,		December 31,		September 30,
(Dollars in thousands)	2023		2023		2023		2022		2022
ASSETS
Cash and due from banks	$	200,926	$	160,053	$	176,747	$	151,754	$	164,693
Securities held-to-maturity:
Mortgage-backed securities		7,860		7,865		7,870		7,875		7,880
Other securities, net		65,271		65,469		65,653		65,836		66,032
Securities available for sale:
Mortgage-backed securities		337,879		365,911		380,110		384,283		468,366
Other securities		505,784		503,645		431,818		351,074		351,495
Loans		6,896,074		6,832,425		6,904,176		6,934,769		6,956,674
Allowance for credit losses		(39,228)		(38,593)		(38,729)		(40,442)		(41,268)
Net loans		6,856,846		6,793,832		6,865,447		6,894,327		6,915,406
Interest and dividends receivable		55,660		52,911		46,836		45,048		42,571
Bank premises and equipment, net		21,302		22,182		21,567		21,750		22,376
Federal Home Loan Bank of New York stock		43,821		36,168		38,779		45,842		62,489
Bank owned life insurance		214,321		213,164		214,240		213,131		212,353
Goodwill		17,636		17,636		17,636		17,636		17,636
Core deposit intangibles		1,651		1,769		1,891		2,017		2,147
Right of use asset		41,404		41,526		42,268		43,289		44,885
Other assets		206,922		191,752		168,259		179,084		179,090
Total assets	$	8,577,283	$	8,473,883	$	8,479,121	$	8,422,946	$	8,557,419
LIABILITIES
Total deposits	$	6,681,509	$	6,723,690	$	6,734,090	$	6,485,342	$	6,125,305
Borrowed funds		1,001,010		857,400		887,509		1,052,973		1,572,830
Operating lease liability		43,067		44,402		45,353		46,125		48,330
Other liabilities		182,556		177,088		138,710		161,349		140,235
Total liabilities		7,908,142		7,802,580		7,805,662		7,745,789		7,886,700
STOCKHOLDERS' EQUITY
Preferred stock (5,000,000 shares authorized; none issued)		—		—		—		—		—
Common stock ($0.01 par value; 100,000,000 shares authorized)		341		341		341		341		341
Additional paid-in capital		264,486		263,744		262,876		264,332		263,755
Treasury stock		(105,433)		(104,574)		(97,760)		(98,535)		(90,977)
Retained earnings		550,678		547,811		545,786		547,507		543,894
Accumulated other comprehensive loss, net of taxes		(40,931)		(36,019)		(37,784)		(36,488)		(46,294)
Total stockholders' equity		669,141		671,303		673,459		677,157		670,719
Total liabilities and stockholders' equity	$	8,577,283	$	8,473,883	$	8,479,121	$	8,422,946	$	8,557,419
(In thousands)
Issued shares		34,088		34,088		34,088		34,088		34,088
Outstanding shares		28,905		28,961		29,488		29,476		29,851
Treasury shares		5,183		5,127		4,600		4,612		4,237

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌9

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,		September 30,		September 30,
(In thousands)	2023		2023		2023		2022		2022		2023		2022
Interest-earning Assets:
Mortgage loans, net	$	5,314,215	$	5,308,567	$	5,333,274	$	5,338,612	$	5,340,694	$	5,318,616	$	5,224,289
Other loans, net		1,498,804		1,521,081		1,537,918		1,542,633		1,520,769		1,519,124		1,470,239
Total loans, net		6,813,019		6,829,648		6,871,192		6,881,245		6,861,463		6,837,740		6,694,528
Taxable securities:
Mortgage-backed securities		436,181		448,620		457,911		549,204		568,854		447,491		581,439
Other securities, net		528,091		471,600		411,723		371,897		362,629		470,898		308,008
Total taxable securities		964,272		920,220		869,634		921,101		931,483		918,389		889,447
Tax-exempt securities:
Other securities		66,438		66,632		66,828		67,022		67,211		66,631		64,081
Total tax-exempt securities		66,438		66,632		66,828		67,022		67,211		66,631		64,081
Interest-earning deposits and federal funds sold		173,731		169,520		189,023		176,323		118,913		177,369		116,817
Total interest-earning assets		8,017,460		7,986,020		7,996,677		8,045,691		7,979,070		8,000,129		7,764,873
Other assets		486,904		475,807		471,634		472,328		463,587		478,170		471,197
Total assets	$	8,504,364	$	8,461,827	$	8,468,311	$	8,518,019	$	8,442,657	$	8,478,299	$	8,236,070
Interest-bearing Liabilities:
Deposits:
Savings accounts	$	115,437	$	124,041	$	134,945	$	146,598	$	154,545	$	124,736	$	155,966
NOW accounts		1,907,781		2,026,950		1,970,555		1,972,134		1,808,608		1,968,199		1,977,621
Money market accounts		1,584,308		1,754,574		2,058,523		2,146,649		2,136,829		1,797,398		2,206,973
Certificate of deposit accounts		2,290,669		2,046,960		1,679,517		1,350,683		1,057,733		2,007,954		923,301
Total due to depositors		5,898,195		5,952,525		5,843,540		5,616,064		5,157,715		5,898,287		5,263,861
Mortgagors' escrow accounts		69,525		97,410		70,483		82,483		68,602		79,136		79,192
Total interest-bearing deposits		5,967,720		6,049,935		5,914,023		5,698,547		5,226,317		5,977,423		5,343,053
Borrowings		804,140		706,924		789,535		963,662		1,326,770		766,919		1,028,489
Total interest-bearing liabilities		6,771,860		6,756,859		6,703,558		6,662,209		6,553,087		6,744,342		6,371,542
Noninterest-bearing demand deposits		851,677		849,682		896,462		979,836		1,050,296		865,777		1,032,319
Other liabilities		205,314		181,343		185,220		199,809		164,992		190,699		160,621
Total liabilities		7,828,851		7,787,884		7,785,240		7,841,854		7,768,375		7,800,818		7,564,482
Equity		675,513		673,943		683,071		676,165		674,282		677,481		671,588
Total liabilities and equity	$	8,504,364	$	8,461,827	$	8,468,311	$	8,518,019	$	8,442,657	$	8,478,299	$	8,236,070
Net interest-earning assets	$	1,245,600	$	1,229,161	$	1,293,119	$	1,383,482	$	1,425,983	$	1,255,787	$	1,393,331

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌10

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,			September 30,			September 30,
(Dollars in thousands)	2023			2023			2023			2022			2022			2023			2022
Interest Income:
Mortgage loans, net	$	68,931		$	63,688		$	62,054		$	60,946		$	58,374		$	194,673		$	167,119
Other loans, net		22,535			21,689			20,835			20,087			17,172			65,059			45,135
Total loans, net		91,466			85,377			82,889			81,033			75,546			259,732			212,254
Taxable securities:
Mortgage-backed securities		3,031			2,976			2,281			2,425			2,466			8,288			6,989
Other securities		7,003			5,847			4,611			3,723			2,839			17,461			6,048
Total taxable securities		10,034			8,823			6,892			6,148			5,305			25,749			13,037
Tax-exempt securities:
Other securities		484			480			477			489			492			1,441			1,708
Total tax-exempt securities		484			480			477			489			492			1,441			1,708
Interest-earning deposits and federal funds sold		2,154			1,982			1,959			1,702			506			6,095			716
Total interest-earning assets		104,138			96,662			92,217			89,372			81,849			293,017			227,715
Interest Expense:
Deposits:
Savings accounts	$	130		$	140		$	126		$	59		$	53		$	396		$	152
NOW accounts		16,843			16,152			13,785			9,515			3,640			46,780			5,838
Money market accounts		14,386			14,625			14,102			10,532			5,280			43,113			8,507
Certificate of deposit accounts		18,639			15,281			11,007			7,037			2,948			44,927			5,510
Total due to depositors		49,998			46,198			39,020			27,143			11,921			135,216			20,007
Mortgagors' escrow accounts		68			51			36			83			44			155			52
Total interest-bearing deposits		50,066			46,249			39,056			27,226			11,965			135,371			20,059
Borrowings		9,543			6,934			7,799			7,843			8,574			24,276			17,882
Total interest-bearing liabilities		59,609			53,183			46,855			35,069			20,539			159,647			37,941
Net interest income- tax equivalent	$	44,529		$	43,479		$	45,362		$	54,303		$	61,310		$	133,370		$	189,774
Included in net interest income above:
Prepaymentpenalties received on loans and securities and net of reversals and recovered interest from nonaccrual loans	$	857		$	315		$	680		$	1,080		$	1,368		$	1,852		$	5,365
Net gains/(losses) from fair value adjustments on qualifying hedges included in interest income		1,348			(205)			100			936			28			1,243			(161)
Purchase accounting adjustments		347			340			306			342			775			993			2,200
Interest-earning Assets Yields:
Mortgage loans, net		5.19	%		4.80	%		4.65	%		4.57	%		4.37	%		4.88	%		4.27	%
Other loans, net		6.01			5.70			5.42			5.21			4.52			5.71			4.09
Total loans, net		5.37			5.00			4.83			4.71			4.40			5.06			4.23
Taxable securities:
Mortgage-backed securities		2.78			2.65			1.99			1.77			1.73			2.47			1.60
Other securities		5.30			4.96			4.48			4.00			3.13			4.94			2.62
Total taxable securities		4.16			3.84			3.17			2.67			2.28			3.74			1.95
Tax-exempt securities: (1)
Other securities		2.91			2.88			2.86			2.92			2.93			2.88			3.55
Total tax-exempt securities		2.91			2.88			2.86			2.92			2.93			2.88			3.55
Interest-earning deposits and federal funds sold		4.96			4.68			4.15			3.86			1.70			4.58			0.82
Total interest-earning assets (1)		5.20	%		4.84	%		4.61	%		4.44	%		4.10	%		4.88	%		3.91	%
Interest-bearing Liabilities Yields:
Deposits:
Savings accounts		0.45	%		0.45	%		0.37	%		0.16	%		0.14	%		0.42	%		0.13	%
NOW accounts		3.53			3.19			2.80			1.93			0.81			3.17			0.39
Money market accounts		3.63			3.33			2.74			1.96			0.99			3.20			0.51
Certificate of deposit accounts		3.25			2.99			2.62			2.08			1.11			2.98			0.80
Total due to depositors		3.39			3.10			2.67			1.93			0.92			3.06			0.51
Mortgagors' escrow accounts		0.39			0.21			0.20			0.40			0.26			0.26			0.09
Total interest-bearing deposits		3.36			3.06			2.64			1.91			0.92			3.02			0.50
Borrowings		4.75			3.92			3.95			3.26			2.58			4.22			2.32
Total interest-bearing liabilities		3.52	%		3.15	%		2.80	%		2.11	%		1.25	%		3.16	%		0.79	%
Net interest rate spread (tax equivalent) (1)		1.68	%		1.69	%		1.81	%		2.33	%		2.85	%		1.72	%		3.12	%
Net interest margin (tax equivalent) (1)		2.22	%		2.18	%		2.27	%		2.70	%		3.07	%		2.22	%		3.26	%
Ratio of interest-earning assets to interest-bearing liabilities		1.18	X		1.18	X		1.19	X		1.21	X		1.22	X		1.19	X		1.22	X

⁽¹⁾ 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, CFO and Treasurer, 718-961-5400‌11

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

DEPOSIT and LOAN COMPOSITION

(Unaudited)

Deposit Composition

											3Q23 vs.		3Q23 vs.
	September 30,		June 30,		March 31,		December 31,		September 30,		2Q23		3Q22
(Dollars in thousands)	2023		2023		2023		2022		2022		% Change		% Change
Noninterest bearing	$	874,420	$	827,820	$	872,254	$	921,238	$	992,378	5.6	%	(11.9)	%
Interest bearing:
Certificate of deposit accounts		2,321,369		2,232,696		1,880,260		1,526,338		1,036,107	4.0		124.0
Savings accounts		112,730		118,886		128,245		143,641		150,552	(5.2)		(25.1)
Money market accounts		1,551,176		1,594,637		1,855,781		2,099,776		2,113,256	(2.7)		(26.6)
NOW accounts		1,749,802		1,891,834		1,918,977		1,746,190		1,762,468	(7.5)		(0.7)
Total interest-bearing deposits		5,735,077		5,838,053		5,783,263		5,515,945		5,062,383	(1.8)		13.3
Total due to depositors		6,609,497		6,665,873		6,655,517		6,437,183		6,054,761	(0.8)		9.2
Mortgagors' escrow deposits		72,012		57,817		78,573		48,159		70,544	24.6		2.1
Total deposits	$	6,681,509	$	6,723,690	$	6,734,090	$	6,485,342	$	6,125,305	(0.6)	%	9.1	%

Loan Composition

											3Q23 vs.		3Q23 vs.
	September 30,		June 30,		March 31,		December 31,		September 30,		2Q23		3Q22
(Dollars in thousands)	2023		2023		2023		2022		2022		% Change		% Change
Multifamily residential	$	2,614,219	$	2,593,955	$	2,601,174	$	2,601,384	$	2,608,192	0.8	%	0.2	%
Commercial real estate		1,953,243		1,917,749		1,904,293		1,913,040		1,914,326	1.9		2.0
One-to-four family ― mixed-useproperty		537,744		542,368		549,207		554,314		560,885	(0.9)		(4.1)
One-to-four family ― residential		222,874		230,055		238,417		241,246		240,484	(3.1)		(7.3)
Construction		59,903		57,325		60,486		70,951		63,651	4.5		(5.9)
Mortgage Loans		5,387,983		5,341,452		5,353,577		5,380,935		5,387,538	0.9		—
Small Business Administration		21,896		22,404		22,860		23,275		27,712	(2.3)		(21.0)
Commercial business and other		1,487,775		1,466,358		1,518,756		1,521,548		1,532,497	1.5		(2.9)
Nonmortgage loans		1,509,671		1,488,762		1,541,616		1,544,823		1,560,209	1.4		(3.2)
Gross loans		6,897,654		6,830,214		6,895,193		6,925,758		6,947,747	1.0		(0.7)
Net unamortized (premiums) and unearned loan (cost) fees (1)		(1,580)		2,211		8,983		9,011		8,927	(171.5)		(117.7)
Allowance for credit losses		(39,228)		(38,593)		(38,729)		(40,442)		(41,268)	1.6		(4.9)
Net loans	$	6,856,846	$	6,793,832	$	6,865,447	$	6,894,327	$	6,915,406	0.9	%	(0.8)	%

⁽¹⁾ Includes $4.4 million, $4.8 million, $5.1 million, $5.4 million, and $5.8 million of purchase accounting unamortized discount resulting from the acquisition of Empire Bancorp at September 30, 2023, June 30, 2023, March 31, 2023, December 31, 2022, and September 30, 2022, respectively.

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌12

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,			September 30,	September 30,
(In thousands)	2023		2023		2023		2022		2022		2023		2022
Multifamily residential	$	75,655	$	31,901	$	42,164	$	65,347	$	173,980	$	149,720	$	409,062
Commercial real estate		70,197		38,523		15,570		20,750		77,777		124,290		287,705
One-to-four family – mixed-useproperty		6,028		5,812		4,938		4,489		12,383		16,778		33,109
One-to-four family – residential		1,070		63		4,296		7,485		4,102		5,429		17,574
Construction		6,971		8,811		10,592		7,301		7,170		26,374		24,291
Mortgage Loans		159,921		85,110		77,560		105,372		275,412		322,591		771,741
Small Business Administration		—		820		318		665		46		1,138		2,796
Commercial business and other		81,549		72,850		95,668		119,191		188,202		250,067		522,229
Nonmortgage Loans		81,549		73,670		95,986		119,856		188,248		251,205		525,025
Total Closings	$	241,470	$	158,780	$	173,546	$	225,228	$	463,660	$	573,796	$	1,296,766

Weighted Average Rate on Loan Closings

	For the three months ended
	September 30,		June 30,		March 31,		December 31,		September 30,
Loan type	2023		2023		2023		2022		2022
Mortgage loans	7.22	%	6.62	%	6.30	%	5.59	%	4.37	%
Nonmortgage loans	8.00		7.76		7.58		6.57		4.93
Total loans	7.48	%	7.14	%	7.01	%	6.10	%	4.60	%

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌13

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,			September 30,			September 30,
(Dollars in thousands)	2023			2023			2023			2022			2022			2023			2022
Allowance for credit losses - loans
Beginning balances	$	38,593		$	38,729		$	40,442		$	41,268		$	39,424		$	40,442		$	37,135
Net loan charge-off (recoveries):
Multifamily residential		—			—			(1)			132			—			(1)			(1)
Commercial real estate		—			8			—			—			—			8			—
One-to-four family – residential		(6)			4			(36)			17			2			(38)			(2)
Small Business Administration		(48)			(158)			(6)			(9)			(12)			(212)			1,016
Taxi medallion		—			—			—			—			—			—			(447)
Commercial business and other		12			1,706			9,277			671			300			10,995			158
Total		(42)			1,560			9,234			811			290			10,752			724
Provision (benefit) for loan losses		593			1,424			7,521			(15)			2,134			9,538			4,857
Ending balance	$	39,228		$	38,593		$	38,729		$	40,442		$	41,268		$	39,228		$	41,268
Gross charge-offs	$	21		$	1,731		$	9,298		$	1,938		$	324		$	11,050		$	1,410
Gross recoveries		63			171			64			1,127			34			298			686
Allowance for credit losses - loans to gross loans		0.57	%		0.57	%		0.56	%		0.58	%		0.59	%		0.57	%		0.59	%
Net loan charge-offs (recoveries) to average loans		—			0.09			0.54			0.05			0.02			0.21			0.01

Nonperforming Assets

	September 30,			June 30,			March 31,			December 31,			September 30,
(Dollars in thousands)	2023			2023			2023			2022			2022
Loans 90 Days Or More Past Due and Still Accruing:
Commercial real estate	$	—		$	—		$	—		$	—		$	2,000
Construction		—			—			—			2,600			—
Commercial business and other		—			—			—			—			—
Total		—			—			—			2,600			2,000
Nonaccrual Loans:
Multifamily residential		3,206			3,206			3,628			3,206			3,414
Commercial real estate		—			—			—			237			1,851
One-to-four family - mixed-use property(1)		1,075			790			790			790			790
One-to-four family - residential		4,161			5,218			4,961			4,425			4,655
Small Business Administration		1,255			1,119			937			937			937
Commercial business and other(1)		7,708			8,304			10,860			20,187			15,356
Total		17,405			18,637			21,176			29,782			27,003
Total Nonperforming Loans (NPLs)		17,405			18,637			21,176			32,382			29,003
Total Nonaccrual HTM Securities		20,981			20,981			20,981			20,981			20,981
Total Nonperforming Assets	$	38,386		$	39,618		$	42,157		$	53,363		$	49,984
Nonperforming Assets to Total Assets		0.45	%		0.47	%		0.50	%		0.63	%		0.58	%
Allowance for Credit Losses to NPLs		225.4	%		207.1	%		182.9	%		124.9	%		142.3	%

⁽¹⁾ Adopted ASU No. 2022-02 Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures on January 1, 2023; Not included in the above analysis are nonaccrual performing TDR one-to-four family – mixed use property loans totaling $0.2 million in 4Q22 and in 3Q22; nonaccrual performing TDR commercial business loans totaling less than $0.1 million in 4Q22 and $2.9 million in 3Q22.

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌14

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

RECONCILIATION OF GAAP EARNINGS and CORE EARNINGS

Non-cash Fair Value Adjustments to GAAP Earnings

The variance in GAAP 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, CFO and Treasurer, 718-961-5400‌15

FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

RECONCILIATION OF GAAP EARNINGS and CORE EARNINGS

(Unaudited)

	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)	2023			2023			2023			2022			2022			2023			2022
GAAP income before income taxes	$	12,892		$	11,805		$	6,959		$	12,819		$	32,422		$	31,656		$	92,033
Net (gain) loss from fair value adjustments (Noninterest income (loss))		1,246			(294)			(2,619)			622			(5,626)			(1,667)			(6,350)
Netloss on sale of securities (Noninterest income (loss))		—			—			—			10,948			—			—			—
Life insurance proceeds (Noninterest income (loss))		(23)			(561)			—			(286)			—			(584)			(1,536)
Net gain on disposition of assets (Noninterest income (loss))		—			—			—			(104)			—			—			—
Net (gain) loss from fair value adjustments on qualifying hedges (Net interest income)		(1,348)			205			(100)			(936)			(28)			(1,243)			161
Net amortization of purchase accounting adjustments and intangibles (Various)		(237)			(227)			(188)			(219)			(650)			(652)			(1,811)
Core income before taxes		12,530			10,928			4,052			22,844			26,118			27,510			82,497
Provision for core income taxes		3,395			3,074			1,049			5,445			7,165			7,518			23,057
Core net income	$	9,135		$	7,854		$	3,003		$	17,399		$	18,953		$	19,992		$	59,440
GAAP diluted earnings per common share	$	0.32		$	0.29		$	0.17		$	0.34		$	0.76		$	0.77		$	2.15
Net (gain) loss from fair value adjustments, net of tax		0.03			(0.01)			(0.06)			0.02			(0.13)			(0.04)			(0.15)
Net loss on sale of securities, net of tax		—			—			—			0.27			—			—			—
Life insurance proceeds		—			(0.02)			—			(0.01)			—			(0.01)			(0.05)
Net gain on disposition of assets, net of tax		—			—			—			—			—			—			—
Net (gain) loss from fair value adjustments on qualifying hedges, net of tax		(0.03)			—			—			(0.02)			—			(0.03)			—
Net amortization of purchase accounting adjustments, net of tax		(0.01)			(0.01)			(0.01)			(0.01)			(0.02)			(0.02)			(0.04)
Core diluted earnings per common share(1)	$	0.31		$	0.26		$	0.10		$	0.57		$	0.62		$	0.67		$	1.92
Core net income, as calculated above	$	9,135		$	7,854		$	3,003		$	17,399		$	18,953		$	19,992		$	59,440
Average assets		8,504,364			8,461,827			8,468,311			8,518,019			8,442,657			8,478,299			8,236,070
Average equity		675,513			673,943			683,071			676,165			674,282			677,481			671,588
Core return on average assets(2)		0.43	%		0.37	%		0.14	%		0.82	%		0.90	%		0.31	%		0.96	%
Core return on average equity(2)		5.41	%		4.66	%		1.76	%		10.29	%		11.24	%		3.93	%		11.80	%

⁽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, CFO and Treasurer, 718-961-5400‌16

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,			September 30,			September 30,
(Dollars in thousands)	2023			2023			2023			2022			2022			2023			2022
GAAP Net interest income	$	44,427		$	43,378		$	45,262		$	54,201		$	61,206		$	133,067		$	189,415
Net (gain) loss from fair value adjustments on qualifying hedges		(1,348)			205			(100)			(936)			(28)			(1,243)			161
Net amortization of purchase accounting adjustments		(347)			(340)			(306)			(342)			(775)			(993)			(2,200)
Core Net interest income	$	42,732		$	43,243		$	44,856		$	52,923		$	60,403		$	130,831		$	187,376
GAAP Noninterest income (loss)	$	3,476		$	5,122		$	6,908		$	(7,652)		$	8,995		$	15,506		$	17,661
Net (gain) loss from fair value adjustments		1,246			(294)			(2,619)			622			(5,626)			(1,667)			(6,350)
Net loss on sale of securities		—			—			—			10,948			—			—			—
Life insurance proceeds		(23)			(561)			—			(286)			—			(584)			(1,536)
Net gain on sale of assets		—			—			—			(104)			—			—			—
Core Noninterest income	$	4,699		$	4,267		$	4,289		$	3,528		$	3,369		$	13,255		$	9,775
GAAP Noninterest expense	$	34,415		$	35,279		$	37,703		$	33,742		$	35,634		$	107,397		$	109,950
Net amortization of purchase accounting adjustments		(110)			(113)			(118)			(123)			(125)			(341)			(389)
Core Noninterest expense	$	34,305		$	35,166		$	37,585		$	33,619		$	35,509		$	107,056		$	109,561
Net interest income	$	44,427		$	43,378		$	45,262		$	54,201		$	61,206		$	133,067		$	189,415
Noninterest income (loss)		3,476			5,122			6,908			(7,652)			8,995			15,506			17,661
Noninterest expense		(34,415)			(35,279)			(37,703)			(33,742)			(35,634)			(107,397)			(109,950)
Pre-provision pre-tax net revenue	$	13,488		$	13,221		$	14,467		$	12,807		$	34,567		$	41,176		$	97,126
Core:
Net interest income	$	42,732		$	43,243		$	44,856		$	52,923		$	60,403		$	130,831		$	187,376
Noninterest income		4,699			4,267			4,289			3,528			3,369			13,255			9,775
Noninterest expense		(34,305)			(35,166)			(37,585)			(33,619)			(35,509)			(107,056)			(109,561)
Pre-provision pre-tax net revenue	$	13,126		$	12,344		$	11,560		$	22,832		$	28,263		$	37,030		$	87,590
Efficiency Ratio		72.3	%		74.0	%		76.5	%		59.6	%		55.7	%		74.3	%		55.6	%

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌17

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,			September 30,			September 30,
(Dollars in thousands)	2023			2023			2023			2022			2022			2023			2022
GAAP net interest income	$	44,427		$	43,378		$	45,262		$	54,201		$	61,206		$	133,067		$	189,415
Net (gain) loss from fair value adjustments on qualifying hedges		(1,348)			205			(100)			(936)			(28)			(1,243)			161
Net amortization of purchase accounting adjustments		(347)			(340)			(306)			(342)			(775)			(993)			(2,200)
Tax equivalent adjustment		102			101			100			102			104			303			359
Core net interest income FTE	$	42,834		$	43,344		$	44,956		$	53,025		$	60,507		$	131,134		$	187,735
Total average interest-earning assets (1)	$	8,021,424		$	7,990,331		$	8,001,271		$	8,050,601		$	7,984,558		$	8,004,417		$	7,770,910
Core net interest margin FTE		2.14	%		2.17	%		2.25	%		2.63	%		3.03	%		2.18	%		3.22	%
GAAP interest income on total loans, net	$	91,466		$	85,377		$	82,889		$	81,033		$	75,546		$	259,732		$	212,254
Net (gain) loss from fair value adjustments on qualifying hedges - loans		(1,379)			157			(101)			(936)			(28)			(1,323)			161
Net amortization of purchase accounting adjustments		(358)			(345)			(316)			(372)			(783)			(1,019)			(2,256)
Core interest income on total loans, net	$	89,729		$	85,189		$	82,472		$	79,725		$	74,735		$	257,390		$	210,159
Average total loans, net (1)	$	6,817,642		$	6,834,644		$	6,876,495		$	6,886,900		$	6,867,758		$	6,842,712		$	6,701,413
Core yield on total loans		5.26	%		4.99	%		4.80	%		4.63	%		4.35	%		5.02	%		4.18	%

⁽¹⁾ Excludes purchase accounting average balances for all periods presented.

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌18

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,
(Dollars in thousands)	2023			2023			2023			2022			2022
Total Equity	$	669,141		$	671,303		$	673,459		$	677,157		$	670,719
Less:
Goodwill		(17,636)			(17,636)			(17,636)			(17,636)			(17,636)
Core deposit intangibles		(1,651)			(1,769)			(1,891)			(2,017)			(2,147)
Tangible Stockholders' Common Equity	$	649,854		$	651,898		$	653,932		$	657,504		$	650,936
Total Assets	$	8,577,283		$	8,473,883		$	8,479,121		$	8,422,946		$	8,557,419
Less:
Goodwill		(17,636)			(17,636)			(17,636)			(17,636)			(17,636)
Core deposit intangibles		(1,651)			(1,769)			(1,891)			(2,017)			(2,147)
Tangible Assets	$	8,557,996		$	8,454,478		$	8,459,594		$	8,403,293		$	8,537,636
Tangible Stockholders' Common Equity to Tangible Assets		7.59	%		7.71	%		7.73	%		7.82	%		7.62	%

Investor Contact: Susan K. Cullen, SEVP, CFO and Treasurer, 718-961-5400‌19