Flagstar Bancorp (FBC) Misses Q4 EPS by 4c

Flagstar Bancorp (NYSE: FBC) reported Q4 EPS of $0.49, $0.04 worse than the analyst estimate of $0.53.

We are pleased to turn in another profitable quarter, capping a year of solid earnings growth for our Company," said Alessandro DiNello, president and chief executive officer of Flagstar Bancorp, Inc. "During the quarter, we saw growth in earning assets combined with net interest margin expansion. Asset quality remained rock solid, as it has all year, and expenses were well controlled. Mortgage originations declined seasonally, as expected, and coupled with rising interest rates made mortgage production challenging."

"We reached an important milestone during the quarter with the lifting of the Consent Order in December with the Office of the Comptroller of the Currency. We believe this represented a validation of the quality of our risk management organization, the strength of our balance sheet and our improved performance, and also reflected our success in building a broader, more stable and less risky business model."

"With the positive momentum from our 2016 performance, we are looking forward to 2017. We believe the economy will be a bit stronger and the interest rate curve a little steeper. Our business model is poised to continue to be successful."

For earnings history and earnings-related data on Flagstar Bancorp (FBC) click here.

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