Flagstar Bancorp (FBC) Tops Q1 EPS by 8c

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Go back to Flagstar Bancorp (FBC) Tops Q1 EPS by 8c

Flagstar Reports First Quarter 2017 Net Income of $27 million, or $0.46 per Diluted Share

April 25, 2017 6:30 AM EDT

TROY, Mich., April 25, 2017 /PRNewswire/ --

Key Highlights - First Quarter 2017

Strong commercial loan growth with period-end commercial and industrial and commercial real estate loans up 11 percent from prior quarter-end and up 58 percent versus same quarter-end last year. Mortgage revenues, including gain on sale and return on MSR, up $10 million, or 19 percent, from fourth quarter 2016, resulting from improved MSR returns; increased purchase mortgage volumes largely offset lower refinance levels. Noninterest expense improved $2 million, or 1 percent, versus prior quarter, on lower mortgage activity despite seasonally higher benefits costs... More