Flagstar Bancorp (FBC) Reports In-Line Q3 EPS

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Go back to Flagstar Bancorp (FBC) Reports In-Line Q3 EPS

Flagstar Reports Third Quarter 2018 Net Income of $48 million, or $0.83 per Diluted Share

October 23, 2018 6:30 AM EDT

TROY, Mich., Oct. 23, 2018 /PRNewswire/ --

Key Highlights - Third Quarter 2018

Adjusted net income of $49 million, or $0.85 per diluted share, excluding costs for pending Wells Fargo branch acquisition. Net interest income grew $9 million, or 8 percent from second quarter 2018, led by earning asset growth and net interest margin expansion. Average loans held-for-investment rose 6 percent while average total deposits increased 9 percent from prior quarter. Total serviced accounts increased 16 percent from last quarter to nearly 620,000 accounts. Noninterest expense dropped $4 million, or 2 percent from prior quarter, driven by prudent... More