Flagstar Bancorp (FBC) Tops Q4 EPS by 4c
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Flagstar Reports Fourth Quarter 2017 Financial Results and Announces Regulatory Approval to Acquire Eight Branches in Southern California
January 23, 2018 6:30 AM ESTTROY, Mich., Jan. 23, 2018 /PRNewswire/ --
Key Highlights - Fourth Quarter 2017
Net loss of $45 million, or $0.79 per diluted share, on non-cash charge from new tax legislation. Adjusted net income of $35 million, or $0.60 per diluted share. Net interest income grew $4 million, or 4 percent, from third quarter 2017, led by higher earning assets. Average commercial loans up $344 million, or 9 percent, from last quarter. Net gain on loan sales rose to $79 million, driven by an improved gain on sale margin. Asset quality strong with a high allowance coverage ratio. Strong... More