Flushing Bank Mortgage Rates, Fees & Info

Uniondale, NY

LEI: 549300QVXT6121Q7E798

Tax ID: 41-2231564

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Flushing Bank is a smaller bank specializing in Cash Out Refi and Home Purchase loans. Flushing Bank has a high proportion of conventional loans. Their top (well, only) market is New York.

    Flushing Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    291

    Origination Dollar Volume (All Markets)

    $359,905,000

    Employee count

    468

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 291 $359,905,000 $1,236,787 $0 0.00%
    Flushing Bank's top markets include and New York among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 291 $359,905,000 $1,236,787 $0 0.00%

    For 2018, Flushing Bank's most frequently originated type of loan was Conventional, with 291 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 144 $226,420,000 $1,572,361 $0 0.00%
    Home Purchase 112 $101,770,000 $908,661 $0 0.00%
    Refi 30 $27,950,000 $931,667 $0 0.00%
    Home Improvement 5 $3,765,000 $753,000 $0 0.00%

    For 2018, Flushing Bank's most frequently cited loan purpose was Cash Out Refi, with 144 originations. The 2nd most popular reason was Home Purchase, with 112 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 291 $359,905,000 $1,236,787 $0 0.00%

    For 2018, Flushing Bank's most frequently cited loan duration was Other, with 291 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 88 $42,900,000 $487,500 $0 0.00%
    $1MM+ 79 $247,495,000 $3,132,848 $0 0.00%
    $600k-1MM 70 $52,770,000 $753,857 $0 0.00%
    $200k-400k 52 $16,410,000 $315,577 $0 0.00%
    $100k-200k 2 $330,000 $165,000 $0 0.00%

    2018 saw Flushing Bank place emphasis on $400k-600k loans with 88 originations, totaling $42,900,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 8 $5,490,000 $686,250 $0 0.00%
    $250k+ 7 $7,255,000 $1,036,429 $0 0.00%
    $75k-100k 6 $2,620,000 $436,667 $0 0.00%
    $100k-150k 4 $2,210,000 $552,500 $0 0.00%
    $50k-75k 4 $1,470,000 $367,500 $0 0.00%

    Flushing Bank lent most frequently to those with incomes in the $150k-250k range, with 8 originations. The second most popular income band? $250k+, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 291 $359,905,000 $1,236,787 $0 0.00%

    Flushing Bank lent most frequently to those with DTI ratios of Exempt%, with 291 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 225 $322,075,000 $1,431,444 $0 0.00%
    White 28 $15,750,000 $562,500 $0 0.00%
    Not provided 14 $8,370,000 $597,857 $0 0.00%
    Asian 9 $6,675,000 $741,667 $0 0.00%
    Chinese 5 $2,295,000 $459,000 $0 0.00%
    Black 4 $1,850,000 $462,500 $0 0.00%
    Native Hawaiian or Islander 2 $1,200,000 $600,000 $0 0.00%
    Korean 2 $910,000 $455,000 $0 0.00%
    Other Asian 2 $780,000 $390,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    82.64%

    Flushing Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    84.54%

    Flushing Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 291 $359,905,000 $1,236,787

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 185 $289,895,000 $1,567,000
    Single Family (1-4 Units):Site-Built 106 $70,010,000 $660,472

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Flushing Bank 10711 Continental Avenue Forest Hills, NY 11375 Full Service B&M $159,681
    Flushing Bank 1122 Franklin Avenue Garden City, NY 11530 Full Service B&M $308,570
    Flushing Bank 13641 Roosevelt Avenue Flushing, NY 11354 Full Service B&M $120,557
    Flushing Bank 1402 Avenue J Brooklyn, NY 11230 Full Service B&M $149,792
    Flushing Bank 147-42 Northern Boulevard Flushing, NY 11354 Full Service B&M $267,034
    Flushing Bank 164-20 Northern Boulevard Flushing, NY 11358 Full Service B&M $293,896
    Flushing Bank 186 Montague Street Brooklyn, NY 11201 Full Service B&M $281,154
    Flushing Bank 217 Havemeyer Street Brooklyn, NY 11211 Full Service B&M $54,934
    Flushing Bank 225 Park Avenue South New York, NY 10003 Full Service B&M $230,769
    Flushing Bank 260e Rxr Plaza Uniondale, NY 11556 Full Service Cyber Office $385,575
    Flushing Bank 260e Rxr Plaza Uniondale, NY 11556 Full Service B&M $1,140,247
    Flushing Bank 3116 30th Avenue Astoria, NY 11102 Full Service B&M $123,366
    Flushing Bank 4211 Bell Boulevard Bayside, NY 11361 Full Service B&M $107,000
    Flushing Bank 44-43 Kissena Boulevard Flushing, NY 11355 Full Service B&M $73,658
    Flushing Bank 4616 13th Avenue Brooklyn, NY 11219 Full Service B&M $57,249
    Flushing Bank 61-14 Springfield Blvd Bayside, NY 11364 Full Service B&M $125,472
    Flushing Bank 661 Hillside Avenue New Hyde Park, NY 11040 Full Service B&M $568,312
    Flushing Bank 7102 3rd Avenue Brooklyn, NY 11209 Full Service B&M $70,873
    Flushing Bank 99 Park Avenue New York, NY 10016 Full Service B&M $96,767

    For 2018, Flushing Bank had 19 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $262,029
    Net interest income $178,713
    Total noninterest income $11,260
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,169
    Trading account gains and fees $0
    Additional Noninterest Income $10,091
    Pre-tax net operating income $79,768
    Securities gains (or losses, -) $-1,920
    Income before extraordinary items $63,547
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $63,547
    Minority interest net income $0
    Net income $63,547
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $65,121

    Flushing Bank's gross interest income from loans was $262,029,000.
    Flushing Bank's net interest income from loans was $178,713,000.
    Flushing Bank's fee based income from loans was $1,169,000.
    Flushing Bank's net income from loans was $63,547,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $83,316
    Provision for credit losses $575
    Total noninterest expense $109,630
    Salaries and employee benefits $65,118
    Premises and equipment expense $15,192
    Additional noninterest expense $29,320
    Applicable income taxes $14,301
    Net charge-offs $-19
    Cash dividends $34,000

    Flushing Bank's interest expense for loans was $83,316,000.
    Flushing Bank's payroll and benefits expense were $65,118,000.
    Flushing Bank's property, plant and equipment expenses $15,192,000.

    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 0.0%
    HELOC loans 1.0%
    All other family 0.0%
    Commercial & industrial loans 1.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $4,963,833
    Deposits held in domestic offices $4,963,833
    Deposits by Individuals, partnerships, and corporations $4,076,351
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $876,790
    Deposits by Commercial banks and other depository institutions in U.S. $10,692
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $263,033
    Demand deposits $77,396
    Nontransaction accounts $4,700,800
    Money market deposit accounts (MMDAs) $1,428,523
    Other savings deposits (excluding MMDAs) $1,709,354
    Total time deposits $1,562,923
    Total time and savings deposits $4,886,437
    Noninterest-bearing deposits $417,179
    Interest-bearing deposits $4,546,654
    Retail deposits $4,295,868
    IRAs and Keogh plan accounts $68,517
    Brokered deposits $301,301
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $6,833,890
    Cash & Balances due from depository institutions $118,118
    Interest-bearing balances $105,317
    Total securities $840,864
    Federal funds sold & reverse repurchase $0
    Net loans and leases $5,530,539
    Loan and leases loss allowance $20,945
    Trading account assets $12,554
    Bank premises and fixed assets $30,418
    Other real estate owned $0
    Goodwill and other intangibles $14,157
    All other assets $287,240

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $6,833,890
    Total Liabilities $6,172,846
    Total deposits $4,963,833
    Interest-bearing deposits $4,546,654
    Deposits held in domestic offices $4,963,833
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $1,134,994
    Subordinated debt $0
    All other liabilities $74,019

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $5,530,539
    Loan and leases loss allowance $20,945
    Total loans and leases (domestic) $5,551,484
    All real estate loans $4,908,276
    Real estate loans in domestic offices $4,908,276
    Construction and development loans $60,834
    Residential 1-4 family construction $7,183
    Other construction, all land development and other land $53,651
    Loans secured by nonfarm nonresidential properties $1,788,820
    Nonfarm nonresidential secured by owner-occupied properties $271,909
    Commercial real estate & other non-farm, non-residential $1,516,911
    Multifamily residential real estate $2,276,174
    1-4 family residential loans $782,448
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $632,853
    To non-U.S. addressees $0
    Loans to individuals $153
    Credit card loans $0
    Related Plans $153
    Consumer Auto Loans $0
    Other loans to individuals $0
    All other loans & leases $10,202
    Loans to foreign governments and official institutions $0
    Other loans $10,202
    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 $4,439
    Non 1-4 family restructured loans & leases $2,195
    Total loans and leases (foreign) $0

    Flushing Bank had $5,530,539,000 of loans outstanding in 2018. $4,908,276,000 of loans were in real estate loans. $60,834,000 of loans were in development loans. $2,276,174,000 of loans were in multifamily mortgage loans. $782,448,000 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 412 $190,536 $462,466
    Nonfarm, nonresidential loans - <$100k 4 $245 $61,250
    Nonfarm, nonresidential loans - $100-250k 47 $7,480 $159,149
    Nonfarm, nonresidential loans - $250k-1MM 361 $182,811 $506,402
    Commercial & Industrial, US addressed loans - <$1MM 287 $67,250 $234,321
    Commercial & Industrial, US addressed loans - <$100k 73 $2,529 $34,644
    Commercial & Industrial, US addressed loans - $100-250k 61 $8,595 $140,902
    Commercial & Industrial, US addressed loans - $250k-1MM 153 $56,126 $366,837