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 Home Purchase and Cash Out Refi loans. Flushing Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, New Haven, and Poughkeepsie among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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

    210

    Origination Dollar Volume (All Markets)

    $273,260,000

    Employee count

    520

    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) 207 $261,045,000 $1,261,087 $0 0.00%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 2 $11,310,000 $5,655,000 $0 0.00%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $905,000 $905,000 $0 0.00%
    Flushing Bank's top markets include New York, New Haven, and Poughkeepsie among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 210 $273,260,000 $1,301,238 $0 0.00%

    For 2020, Flushing Bank's most frequently originated type of loan was Conventional, with 210 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 98 $97,870,000 $998,673 $0 0.00%
    Cash Out Refi 73 $143,025,000 $1,959,247 $0 0.00%
    Refi 29 $28,535,000 $983,966 $0 0.00%
    Home Improvement 9 $3,565,000 $396,111 $0 0.00%
    Other 1 $265,000 $265,000 $0 0.00%

    For 2020, Flushing Bank's most frequently cited loan purpose was Home Purchase, with 98 originations. The 2nd most popular reason was Cash Out Refi, with 73 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 210 $273,260,000 $1,301,238 $0 0.00%

    For 2020, Flushing Bank's most frequently cited loan duration was Other, with 210 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 62 $192,460,000 $3,104,194 $0 0.00%
    $600k-1MM 59 $46,175,000 $782,627 $0 0.00%
    $400k-600k 48 $22,730,000 $473,542 $0 0.00%
    $200k-400k 35 $11,015,000 $314,714 $0 0.00%
    $100k-200k 6 $880,000 $146,667 $0 0.00%

    2020 saw Flushing Bank place emphasis on $1MM+ loans with 62 originations, totaling $192,460,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 3 $1,105,000 $368,333 $0 0.00%
    $150k-250k 3 $1,525,000 $508,333 $0 0.00%
    $250k+ 2 $560,000 $280,000 $0 0.00%
    $75k-100k 1 $245,000 $245,000 $0 0.00%

    Flushing Bank lent most frequently to those with incomes in the $100k-150k range, with 3 originations. The second most popular income band? $150k-250k, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 210 $273,260,000 $1,301,238 $0 0.00%

    Flushing Bank lent most frequently to those with DTI ratios of Exempt%, with 210 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 188 $259,000,000 $1,377,660 $0 0.00%
    White 9 $7,335,000 $815,000 $0 0.00%
    Not provided 5 $3,825,000 $765,000 $0 0.00%
    Black 4 $2,030,000 $507,500 $0 0.00%
    Asian 3 $805,000 $268,333 $0 0.00%
    Asian Indian 1 $265,000 $265,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.24%

    Flushing Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.52%

    Flushing Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 210 $273,260,000 $1,301,238

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 144 $228,380,000 $1,585,972
    Single Family (1-4 Units):Site-Built 66 $44,880,000 $680,000

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Flushing Bank 10711 Continental Ave Forest Hills, NY 11375 Full Service B&M $150,453
    Flushing Bank 1122 Franklin Avenue Garden City, NY 11530 Full Service B&M $277,375
    Flushing Bank 13641 Roosevelt Avenue Flushing, NY 11354 Full Service B&M $138,532
    Flushing Bank 1402 Avenue J Brooklyn, NY 11230 Full Service B&M $167,943
    Flushing Bank 147-42 Northern Boulevard Flushing, NY 11354 Full Service B&M $253,420
    Flushing Bank 164-20 Northern Boulevard Flushing, NY 11358 Full Service B&M $317,518
    Flushing Bank 183 Canal Street New York, NY 10013 Full Service B&M $44,385
    Flushing Bank 186 Montague Street Brooklyn, NY 11201 Full Service B&M $124,193
    Flushing Bank 213-03 Northern Boulevard Bayside, NY 11361 Full Service B&M $107,977
    Flushing Bank 217 Havemeyer Street Brooklyn, NY 11211 Full Service B&M $56,021
    Flushing Bank 225 Park Avenue South New York, NY 10003 Full Service B&M $219,974
    Flushing Bank 260e Rxr Plaza Uniondale, NY 11556 Full Service Cyber Office $219,907
    Flushing Bank 260e Rxr Plaza Uniondale, NY 11556 Full Service B&M $1,776,404
    Flushing Bank 268 N Broadway Hicksville, NY 11801 Full Service B&M $15,633
    Flushing Bank 3116 30th Ave Astoria, NY 11102 Full Service B&M $151,442
    Flushing Bank 44-43 Kissena Boulevard Flushing, NY 11355 Full Service B&M $75,616
    Flushing Bank 4616 13th Avenue Brooklyn, NY 11219 Full Service B&M $81,784
    Flushing Bank 6114 Springfield Blvd Bayside, NY 11364 Full Service B&M $132,206
    Flushing Bank 661 Hillside Ave New Hyde Park, NY 11040 Full Service B&M $625,316
    Flushing Bank 7102 3rd Ave Brooklyn, NY 11209 Full Service B&M $74,247
    Flushing Bank 99 Park Avenue New York, NY 10016 Full Service B&M $105,281

    For 2020, Flushing Bank had 21 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $270,125
    Net interest income $206,436
    Total noninterest income $5,025
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $985
    Trading account gains and fees $3
    Additional Noninterest Income $4,037
    Pre-tax net operating income $55,070
    Securities gains (or losses, -) $-436
    Income before extraordinary items $41,852
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $41,852
    Minority interest net income $0
    Net income $41,852
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $42,196

    Flushing Bank's gross interest income from loans was $270,125,000.
    Flushing Bank's net interest income from loans was $206,436,000.
    Flushing Bank's fee based income from loans was $985,000.
    Flushing Bank's net income from loans was $41,852,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $63,689
    Provision for credit losses $23,129
    Total noninterest expense $133,262
    Salaries and employee benefits $74,565
    Premises and equipment expense $17,378
    Additional noninterest expense $41,319
    Applicable income taxes $12,782
    Net charge-offs $3,639
    Cash dividends $78,833

    Flushing Bank's interest expense for loans was $63,689,000.
    Flushing Bank's payroll and benefits expense were $74,565,000.
    Flushing Bank's property, plant and equipment expenses $17,378,000.

    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 3.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    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 $6,163,490
    Deposits held in domestic offices $6,163,490
    Deposits by Individuals, partnerships, and corporations $4,837,919
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $1,288,749
    Deposits by Commercial banks and other depository institutions in U.S. $36,822
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $1,233,685
    Demand deposits $1,018,083
    Nontransaction accounts $4,929,805
    Money market deposit accounts (MMDAs) $1,690,388
    Other savings deposits (excluding MMDAs) $2,101,240
    Total time deposits $1,138,178
    Total time and savings deposits $5,145,407
    Noninterest-bearing deposits $798,098
    Interest-bearing deposits $5,365,392
    Retail deposits $4,829,949
    IRAs and Keogh plan accounts $107,893
    Brokered deposits $1,073,896
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $7,977,360
    Cash & Balances due from depository institutions $156,813
    Interest-bearing balances $135,076
    Total securities $704,010
    Federal funds sold & reverse repurchase $0
    Net loans and leases $6,659,521
    Loan and leases loss allowance $45,153
    Trading account assets $505
    Bank premises and fixed assets $78,921
    Other real estate owned $0
    Goodwill and other intangibles $18,811
    All other assets $358,779

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $7,977,360
    Total Liabilities $7,250,558
    Total deposits $6,163,490
    Interest-bearing deposits $5,365,392
    Deposits held in domestic offices $6,163,490
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $946,678
    Subordinated debt $0
    All other liabilities $140,390

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $6,659,521
    Loan and leases loss allowance $45,153
    Total loans and leases (domestic) $6,704,674
    All real estate loans $5,735,623
    Real estate loans in domestic offices $5,735,623
    Construction and development loans $91,855
    Residential 1-4 family construction $873
    Other construction, all land development and other land $90,982
    Loans secured by nonfarm nonresidential properties $2,250,361
    Nonfarm nonresidential secured by owner-occupied properties $502,427
    Commercial real estate & other non-farm, non-residential $1,747,934
    Multifamily residential real estate $2,530,898
    1-4 family residential loans $862,509
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $958,376
    To non-U.S. addressees $0
    Loans to individuals $3,872
    Credit card loans $0
    Related Plans $105
    Consumer Auto Loans $0
    Other loans to individuals $3,767
    All other loans & leases $6,803
    Loans to foreign governments and official institutions $0
    Other loans $6,803
    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 $12,956
    Non 1-4 family restructured loans & leases $10,990
    Total loans and leases (foreign) $0

    Flushing Bank had $6,659,521,000 of loans outstanding in 2020. $5,735,623,000 of loans were in real estate loans. $91,855,000 of loans were in development loans. $2,530,898,000 of loans were in multifamily mortgage loans. $862,509,000 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 485 $239,981 $494,806
    Nonfarm, nonresidential loans - <$100k 5 $256 $51,200
    Nonfarm, nonresidential loans - $100-250k 46 $7,547 $164,065
    Nonfarm, nonresidential loans - $250k-1MM 434 $232,178 $534,972
    Commercial & Industrial, US addressed loans - <$1MM 1,109 $188,907 $170,340
    Commercial & Industrial, US addressed loans - <$100k 530 $17,216 $32,483
    Commercial & Industrial, US addressed loans - $100-250k 232 $31,517 $135,849
    Commercial & Industrial, US addressed loans - $250k-1MM 347 $140,174 $403,960