Flagstar Bancorp (FBC) Tops Q2 EPS by 1c

Flagstar Bancorp (NYSE: FBC) reported Q2 EPS of $0.85, $0.01 better than the analyst estimate of $0.84.

• Net interest income rose $9 million, or 8 percent from first quarter 2018, driven by earning asset growth and net interest margin expansion.
• Mortgage revenues increased $8 million, or 13 percent from the prior quarter, led by a seasonal increase in mortgage originations and higher net return on MSR.
• Total revenue increased $21 million, or 10 percent, while noninterest expense rose a modest $4 million, or 2 percent from last quarter, benefiting from expense discipline and variable cost model.
• Strong asset quality with minimal net charge-offs and no commercial delinquencies.
• Pending acquisition of 52 Wells Fargo branches accelerates banking transformation.

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

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