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 two markets are New York and Poughkeepsie .

    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

    247

    Origination Dollar Volume (All Markets)

    $344,855,000

    Employee count

    464

    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) 246 $344,250,000 $1,399,390 $0 0.00%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $605,000 $605,000 $0 0.00%
    Flushing Bank's top markets include New York and Poughkeepsie 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 247 $344,855,000 $1,396,174 $0 0.00%

    For 2019, Flushing Bank's most frequently originated type of loan was Conventional, with 247 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 108 $207,230,000 $1,918,796 $0 0.00%
    Home Purchase 100 $104,860,000 $1,048,600 $0 0.00%
    Refi 22 $23,140,000 $1,051,818 $0 0.00%
    Home Improvement 17 $9,625,000 $566,176 $0 0.00%

    For 2019, Flushing Bank's most frequently cited loan purpose was Cash Out Refi, with 108 originations. The 2nd most popular reason was Home Purchase, with 100 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 247 $344,855,000 $1,396,174 $0 0.00%

    For 2019, Flushing Bank's most frequently cited loan duration was Other, with 247 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 91 $260,005,000 $2,857,198 $0 0.00%
    $600k-1MM 61 $47,205,000 $773,852 $0 0.00%
    $400k-600k 53 $26,295,000 $496,132 $0 0.00%
    $200k-400k 36 $10,340,000 $287,222 $0 0.00%
    $100k-200k 6 $1,010,000 $168,333 $0 0.00%

    2019 saw Flushing Bank place emphasis on $1MM+ loans with 91 originations, totaling $260,005,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 5 $1,775,000 $355,000 $0 0.00%
    $75k-100k 5 $2,615,000 $523,000 $0 0.00%
    $150k-250k 2 $1,260,000 $630,000 $0 0.00%
    $100k-150k 1 $515,000 $515,000 $0 0.00%
    $50k or less 1 $505,000 $505,000 $0 0.00%

    Flushing Bank lent most frequently to those with incomes in the $50k-75k range, with 5 originations. The second most popular income band? $75k-100k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 247 $344,855,000 $1,396,174 $0 0.00%

    Flushing Bank lent most frequently to those with DTI ratios of Exempt%, with 247 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 210 $318,640,000 $1,517,333 $0 0.00%
    Not provided 10 $8,680,000 $868,000 $0 0.00%
    White 12 $6,670,000 $555,833 $0 0.00%
    Chinese 7 $4,795,000 $685,000 $0 0.00%
    Black 3 $2,555,000 $851,667 $0 0.00%
    Asian 2 $1,360,000 $680,000 $0 0.00%
    Native Hawaiian or Islander 1 $1,325,000 $1,325,000 $0 0.00%
    Asian Indian 1 $565,000 $565,000 $0 0.00%
    American Indian 1 $265,000 $265,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.71%

    Flushing Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.02%

    Flushing Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 247 $344,855,000 $1,396,174

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 179 $309,595,000 $1,729,581
    Single Family (1-4 Units):Site-Built 68 $35,260,000 $518,529

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Flushing Bank 10711 Continental Avenue Forest Hills, NY 11375 Full Service B&M $181,890
    Flushing Bank 1122 Franklin Avenue Garden City, NY 11530 Full Service B&M $239,880
    Flushing Bank 13641 Roosevelt Avenue Flushing, NY 11354 Full Service B&M $163,487
    Flushing Bank 1402 Avenue J Brooklyn, NY 11230 Full Service B&M $188,687
    Flushing Bank 147-42 Northern Boulevard Flushing, NY 11354 Full Service B&M $270,694
    Flushing Bank 164-20 Northern Boulevard Flushing, NY 11358 Full Service B&M $325,419
    Flushing Bank 183 Canal Street New York, NY 10013 Full Service B&M $40,516
    Flushing Bank 186 Montague Street Brooklyn, NY 11201 Full Service B&M $234,801
    Flushing Bank 217 Havemeyer Street Brooklyn, NY 11211 Full Service B&M $61,382
    Flushing Bank 225 Park Avenue South New York, NY 10003 Full Service B&M $209,175
    Flushing Bank 260e Rxr Plaza Uniondale, NY 11556 Full Service Cyber Office $367,188
    Flushing Bank 260e Rxr Plaza Uniondale, NY 11556 Full Service B&M $1,214,655
    Flushing Bank 3116 30th Avenue Astoria, NY 11102 Full Service B&M $147,440
    Flushing Bank 4211 Bell Boulevard Bayside, NY 11361 Full Service B&M $132,669
    Flushing Bank 44-43 Kissena Boulevard Flushing, NY 11355 Full Service B&M $91,255
    Flushing Bank 4616 13th Avenue Brooklyn, NY 11219 Full Service B&M $73,710
    Flushing Bank 61-14 Springfield Blvd Bayside, NY 11364 Full Service B&M $146,333
    Flushing Bank 661 Hillside Avenue New Hyde Park, NY 11040 Full Service B&M $602,469
    Flushing Bank 7102 3rd Avenue Brooklyn, NY 11209 Full Service B&M $84,385
    Flushing Bank 99 Park Avenue New York, NY 10016 Full Service B&M $112,501

    For 2019, Flushing Bank had 20 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $283,775
    Net interest income $173,269
    Total noninterest income $6,375
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,258
    Trading account gains and fees $3
    Additional Noninterest Income $5,114
    Pre-tax net operating income $64,981
    Securities gains (or losses, -) $335
    Income before extraordinary items $50,091
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $50,091
    Minority interest net income $0
    Net income $50,091
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $49,826

    Flushing Bank's gross interest income from loans was $283,775,000.
    Flushing Bank's net interest income from loans was $173,269,000.
    Flushing Bank's fee based income from loans was $1,258,000.
    Flushing Bank's net income from loans was $50,091,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $110,506
    Provision for credit losses $2,811
    Total noninterest expense $111,852
    Salaries and employee benefits $67,911
    Premises and equipment expense $16,396
    Additional noninterest expense $27,545
    Applicable income taxes $15,225
    Net charge-offs $2,005
    Cash dividends $32,000

    Flushing Bank's interest expense for loans was $110,506,000.
    Flushing Bank's payroll and benefits expense were $67,911,000.
    Flushing Bank's property, plant and equipment expenses $16,396,000.

    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 $5,079,276
    Deposits held in domestic offices $5,079,276
    Deposits by Individuals, partnerships, and corporations $4,242,533
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $817,009
    Deposits by Commercial banks and other depository institutions in U.S. $19,734
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $509,710
    Demand deposits $352,046
    Nontransaction accounts $4,569,566
    Money market deposit accounts (MMDAs) $1,600,989
    Other savings deposits (excluding MMDAs) $1,531,162
    Total time deposits $1,437,416
    Total time and savings deposits $4,727,230
    Noninterest-bearing deposits $440,016
    Interest-bearing deposits $4,639,260
    Retail deposits $4,343,736
    IRAs and Keogh plan accounts $68,840
    Brokered deposits $388,304
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $7,017,594
    Cash & Balances due from depository institutions $49,260
    Interest-bearing balances $35,983
    Total securities $829,284
    Federal funds sold & reverse repurchase $0
    Net loans and leases $5,750,455
    Loan and leases loss allowance $21,751
    Trading account assets $772
    Bank premises and fixed assets $69,930
    Other real estate owned $239
    Goodwill and other intangibles $14,106
    All other assets $303,548

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $7,017,594
    Total Liabilities $6,332,951
    Total deposits $5,079,276
    Interest-bearing deposits $4,639,260
    Deposits held in domestic offices $5,079,276
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $1,167,895
    Subordinated debt $0
    All other liabilities $85,780

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $5,750,455
    Loan and leases loss allowance $21,751
    Total loans and leases (domestic) $5,772,206
    All real estate loans $5,032,860
    Real estate loans in domestic offices $5,032,860
    Construction and development loans $76,655
    Residential 1-4 family construction $9,399
    Other construction, all land development and other land $67,256
    Loans secured by nonfarm nonresidential properties $1,915,754
    Nonfarm nonresidential secured by owner-occupied properties $345,748
    Commercial real estate & other non-farm, non-residential $1,570,006
    Multifamily residential real estate $2,245,198
    1-4 family residential loans $795,253
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $730,627
    To non-U.S. addressees $0
    Loans to individuals $197
    Credit card loans $0
    Related Plans $197
    Consumer Auto Loans $0
    Other loans to individuals $0
    All other loans & leases $8,522
    Loans to foreign governments and official institutions $0
    Other loans $8,522
    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 $3,885
    Non 1-4 family restructured loans & leases $1,873
    Total loans and leases (foreign) $0

    Flushing Bank had $5,750,455,000 of loans outstanding in 2019. $5,032,860,000 of loans were in real estate loans. $76,655,000 of loans were in development loans. $2,245,198,000 of loans were in multifamily mortgage loans. $795,253,000 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 402 $197,714 $491,826
    Nonfarm, nonresidential loans - <$100k 4 $223 $55,750
    Nonfarm, nonresidential loans - $100-250k 41 $6,509 $158,756
    Nonfarm, nonresidential loans - $250k-1MM 357 $190,982 $534,964
    Commercial & Industrial, US addressed loans - <$1MM 301 $79,355 $263,638
    Commercial & Industrial, US addressed loans - <$100k 59 $2,193 $37,169
    Commercial & Industrial, US addressed loans - $100-250k 75 $10,137 $135,160
    Commercial & Industrial, US addressed loans - $250k-1MM 167 $67,025 $401,347