Flagstar Bancorp (FBC) Reports In-Line Q4 EPS
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Flagstar Reports Fourth Quarter 2018 Net Income of $54 million, or $0.93 Per Diluted Share
January 22, 2019 6:30 AM ESTTROY, Mich., Jan. 22, 2019 /PRNewswire/ --
Key Highlights - Fourth Quarter 2018
Completed Wells Fargo branch acquisition, providing low-cost, stable liquidity for continued banking growth. Results include a $29 million pre-tax benefit for hedging gains recognized in conjunction with the acquisition and $14 million of pre-tax acquisition-related expenses. Excluding the acquisition-related benefit and expenses, adjusted net income was $42 million, or $0.72 per diluted share, an increase of 20 percent from adjusted fourth quarter 2017 net income. Strong capital position with total risk-based capital ratio at 13.6 percent. Pristine asset quality with minimal net... More