Flushing Bank Mortgage Rates, Fees & Info

Uniondale, NY

LEI: 549300QVXT6121Q7E798

Tax ID: 41-2231564

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Flushing Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Flushing Bank has a high proportion of conventional loans. Their top markets include and New York among others. Flushing Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

234

Origination Dollar Volume (All Markets)

$369,640,000

Employee count

531

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 234 $369,640,000 $1,579,658 $0 0.00%

Flushing Bank's top markets include and New York among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 234 $369,640,000 $1,579,658 $0 0.00%

For the 2021 period, Flushing Bank's most frequently originated loan type of loans were Conventional, with 234 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 130 $205,530,000 $1,581,000 $0 0.00%
Cash Out Refi 70 $124,090,000 $1,772,714 $0 0.00%
Refi 25 $34,685,000 $1,387,400 $0 0.00%
Home Improvement 9 $5,335,000 $592,778 $0 0.00%

For the 2021, Flushing Bank's most frequently cited loan purpose of loans were Home Purchase, with 130 originations. The 2nd most popular reason of loans were Cash Out Refi, with 70 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 234 $369,640,000 $1,579,658 $0 0.00%

For the 2021, Flushing Bank's most frequently cited loan length of loans were Other, with 234 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$1MM+ 83 $283,385,000 $3,414,277 $0 0.00%
$600k-1MM 66 $49,560,000 $750,909 $0 0.00%
$400k-600k 62 $30,390,000 $490,161 $0 0.00%
$200k-400k 19 $5,635,000 $296,579 $0 0.00%
$100k-200k 4 $670,000 $167,500 $0 0.00%

2021 saw Flushing Bank place emphasis on $1MM+ loans with 83 originations, totaling $283,385,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$75k-100k 7 $2,885,000 $412,143 $0 0.00%
$100k-150k 4 $1,990,000 $497,500 $0 0.00%
$50k-75k 2 $740,000 $370,000 $0 0.00%
$250k+ 1 $585,000 $585,000 $0 0.00%

Flushing Bank lent most frequently to those with incomes in the $75k-100k range, with 7 originations. The second most popular income band? $100k-150k, with 4 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 234 $369,640,000 $1,579,658 $0 0.00%

Flushing Bank lent most frequently to those with DTI ratios of Exempt%, with 234 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 208 $352,430,000 $1,694,375 $0 0.00%
Not provided 9 $8,605,000 $956,111 $0 0.00%
White 7 $3,505,000 $500,714 $0 0.00%
Black 6 $3,250,000 $541,667 $0 0.00%
Asian 4 $1,850,000 $462,500 $0 0.00%

Approval Rates

Total approvals of all applications
86.41%

Flushing Bank has an average approval rate.

Pick Rate

Approvals leading to origination
81.36%

Flushing Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 234 $369,640,000 $1,579,658

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
234 $369,640,000 $1,579,658

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Flushing Bank 1044 William Floyd Parkway Shirley, NY 11967 Full Service B&M $81,148
Flushing Bank 1402 Avenue J Brooklyn, NY 11230 Full Service B&M $180,919
Flushing Bank 147-42 Northern Boulevard Flushing, NY 11354 Full Service B&M $242,607
Flushing Bank 164-20 Northern Boulevard Flushing, NY 11358 Full Service B&M $323,511
Flushing Bank 170 Old Country Road Mineola, NY 11501 Full Service B&M $18,901
Flushing Bank 1707 Veterans Highway, Suite 8 Islandia, NY 11749 Full Service B&M $561,896
Flushing Bank 183 Canal Street New York, NY 10013 Full Service B&M $62,326
Flushing Bank 186 Montague Street Brooklyn, NY 11201 Full Service B&M $121,579
Flushing Bank 213-03 Northern Boulevard Bayside, NY 11361 Full Service B&M $122,536
Flushing Bank 217 Havemeyer Street Brooklyn, NY 11211 Full Service B&M $49,556
Flushing Bank 225 Park Avenue South New York, NY 10003 Full Service B&M $227,899
Flushing Bank 260e Rxr Plaza Uniondale, NY 11556 Full Service Cyber Office $219,439
Flushing Bank 260e Rxr Plaza Uniondale, NY 11556 Full Service B&M $2,074,899
Flushing Bank 268 N Broadway Hicksville, NY 11801 Full Service B&M $50,509
Flushing Bank 3116 30th Ave Astoria, NY 11102 Full Service B&M $164,673
Flushing Bank 44-43 Kissena Boulevard Flushing, NY 11355 Full Service B&M $76,934
Flushing Bank 4616 13th Avenue Brooklyn, NY 11219 Full Service B&M $84,161
Flushing Bank 4747 Nesconset Highway, Unit 36 Port Jefferson Station, NY 11776 Full Service B&M $69,100
Flushing Bank 6114 Springfield Blvd Bayside, NY 11364 Full Service B&M $137,245
Flushing Bank 661 Hillside Ave New Hyde Park, NY 11040 Full Service B&M $663,764
Flushing Bank 7102 3rd Ave Brooklyn, NY 11209 Full Service B&M $80,739
Flushing Bank 89-12 Sutphin Boulevard Jamaica, NY 11435 Full Service B&M $11,270
Flushing Bank 99 Park Avenue New York, NY 10016 Full Service B&M $149,645
Flushing Bank 10711 Continental Ave Forest Hills, NY 11375 Full Service B&M $145,719
Flushing Bank 1122 Franklin Avenue Garden City, NY 11530 Full Service B&M $321,632
Flushing Bank 13641 Roosevelt Avenue Flushing, NY 11354 Full Service B&M $129,033

For 2021, Flushing Bank had 26 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $293,933
Net interest income $259,439
Total noninterest income $9,491
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,389
Trading account gains and fees $-4
Additional Noninterest Income $8,106
Pre-tax net operating income $131,047
Securities gains (or losses, -) $-252
Income before extraordinary items $97,908
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $97,908
Minority interest net income $0
Net income $97,908
Sale, conversion, retirement of capital stock, net $0
Net operating income $98,107

Flushing Bank's gross interest income from loans was $293,933,000.
Flushing Bank's net interest income from loans was $259,439,000.
Flushing Bank's fee based income from loans was $1,389,000.
Flushing Bank's net income from loans was $97,908,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $34,494
Provision for credit losses $-5,550
Total noninterest expense $143,433
Salaries and employee benefits $89,130
Premises and equipment expense $19,332
Additional noninterest expense $34,971
Applicable income taxes $32,887
Net charge-offs $3,119
Cash dividends $5,000

Flushing Bank's interest expense for loans was $34,494,000.
Flushing Bank's payroll and benefits expense were $89,130,000.
Flushing Bank's property, plant and equipment expenses $19,332,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 1.0%
HELOC loans 2.0%
All other family 1.0%
Commercial & industrial loans 0.0%
Personal loans 1.0%
Credit card loans 0.0%
Other individual loans 1.0%
Auto loans 0.0%
Other consumer loans 1.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $6,400,542
Deposits held in domestic offices $6,400,542
Deposits by Individuals, partnerships, and corporations $5,274,208
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $1,098,435
Deposits by Commercial banks and other depository institutions in U.S. $27,899
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $505,787
Demand deposits $238,095
Nontransaction accounts $5,894,755
Money market deposit accounts (MMDAs) $2,343,711
Other savings deposits (excluding MMDAs) $2,604,584
Total time deposits $946,460
Total time and savings deposits $6,162,447
Noninterest-bearing deposits $981,251
Interest-bearing deposits $5,419,291
Retail deposits $5,562,368
IRAs and Keogh plan accounts $208,614
Brokered deposits $626,146
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $8,047,301
Cash & Balances due from depository institutions $81,118
Interest-bearing balances $56,828
Total securities $833,021
Federal funds sold & reverse repurchase $0
Net loans and leases $6,600,970
Loan and leases loss allowance $37,135
Trading account assets $388
Bank premises and fixed assets $73,538
Other real estate owned $0
Goodwill and other intangibles $18,123
All other assets $440,143

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $8,047,301
Total Liabilities $7,203,435
Total deposits $6,400,542
Interest-bearing deposits $5,419,291
Deposits held in domestic offices $6,400,542
% insured (estimated) $62
Federal funds purchased and repurchase agreements $25,000
Trading liabilities $0
Other borrowed funds $611,186
Subordinated debt $0
All other liabilities $166,707

Issued Loan Types

Type Value (in 000's)
Net loans and leases $6,600,970
Loan and leases loss allowance $37,135
Total loans and leases (domestic) $6,638,105
All real estate loans $5,833,022
Real estate loans in domestic offices $5,833,022
Construction and development loans $75,602
Residential 1-4 family construction $873
Other construction, all land development and other land $74,729
Loans secured by nonfarm nonresidential properties $2,386,285
Nonfarm nonresidential secured by owner-occupied properties $626,190
Commercial real estate & other non-farm, non-residential $1,760,095
Multifamily residential real estate $2,516,134
1-4 family residential loans $855,001
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $797,327
To non-U.S. addressees $0
Loans to individuals $2,711
Credit card loans $0
Related Plans $117
Consumer Auto Loans $0
Other loans to individuals $2,594
All other loans & leases $5,045
Loans to foreign governments and official institutions $0
Other loans $5,045
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $12,460
Non 1-4 family restructured loans & leases $10,602
Total loans and leases (foreign) $0

Flushing Bank had $6,600,970,000 of loans outstanding in 2021. $5,833,022,000 of loans were in real estate loans. $75,602,000 of loans were in development loans. $2,516,134,000 of loans were in multifamily mortgage loans. $855,001,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 477 $235,854 $494,453
Nonfarm, nonresidential loans - <$100k 4 $228 $57,000
Nonfarm, nonresidential loans - $100-250k 43 $6,919 $160,907
Nonfarm, nonresidential loans - $250k-1MM 430 $228,707 $531,877
Commercial & Industrial, US addressed loans - <$1MM 927 $146,726 $158,280
Commercial & Industrial, US addressed loans - <$100k 445 $13,363 $30,029
Commercial & Industrial, US addressed loans - $100-250k 202 $26,491 $131,144
Commercial & Industrial, US addressed loans - $250k-1MM 280 $106,872 $381,686