Income Taxes

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Income Taxes

13.     Income Taxes

Flushing Financial Corporation files consolidated Federal and combined New York State and New York City income tax returns with its subsidiaries, with the exception of the Company’s trusts, which file separate Federal income tax returns as trusts, and Flushing Preferred Funding Corporation, which files a separate Federal income tax return as a real estate investment trust. Additionally, the Bank files New Jersey State tax returns. As of June 30, 2020, the Company is undergoing examination for its New York State income tax returns for 2014, 2015 and 2016 and its New York City income tax return for 2015, 2016 and 2017.

Income tax provisions are summarized as follows:

	For the three months				For the six months
	ended June 30,				ended June 30,
	2020		2019		2020		2019
(In thousands)
Federal:
Current	$	4,714	$	4,450	$	6,664	$	5,776
Deferred		(407)		(1,469)		(1,368)		(852)
Total federal tax provision		4,307		2,981		5,296		4,924
State and Local:
Current		1,322		1,017		1,484		1,173
Deferred		179		(726)		(1,178)		(538)
Total state and local tax provision		1,501		291		306		635
Total income tax provision	$	5,808	$	3,272	$	5,602	$	5,559