Flushing Financial has reported that its net income for the fourth quarter ended December 31, 2008 was $6.5 million, an increase of 51% from the $4.3 million earned in the fourth quarter of 2007.
Diluted earnings per share for the fourth quarter were $0.31, an increase of 41% from the $0.22 earned in the comparable quarter of 2007. For the fourth quarter of 2008, net interest income was $22.8 million, an increase of 25% from $18.2 million for the same quarter in 2007.
Net income for the year ended December 31, 2008 was $22.3 million, an increase of 10.3% from the $20.2 million earned in the year ended December 31, 2007. Diluted earnings per share for the year ended December 31, 2008 were $1.10, an increase of 7.8% from the $1.02 earned in the comparable 2007 period. For 2008, net interest income was $87.7 million, an increase of 23.7% from $70.9 million for 2007.
At December 31, 2008, total assets were $3.95 billion, an increase of 17.7% from $3.35 billion at December 31, 2007. Total loans, net increased 9.6% during the year ended December 31, 2008 to $2.96 billion from $2.70 billion at December 31, 2007.
