Flagstar Bancorp (FBC) Tops Q2 EPS by 1c

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Go back to Flagstar Bancorp (FBC) Tops Q2 EPS by 1c

Flagstar Reports Second Quarter 2018 Net Income of $50 million, or $0.85 per Diluted Share

July 24, 2018 6:31 AM EDT

TROY, Mich., July 24, 2018 /PRNewswire/ --

Key Highlights - Second Quarter 2018

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... More