Flagstar Bancorp (FBC) Tops Q2 EPS by 71c
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Flagstar Bancorp Reports Second Quarter 2020 Net Income of $116 Million, or $2.03 Per Diluted Share
July 28, 2020 6:30 AM EDTTROY, Mich., July 28, 2020 /PRNewswire/ --
Key Highlights - Second Quarter 2020
Posted best results in company history, validating strength of business model Expanded net interest margin by 5 basis points and increased net interest income by $20 million Achieved mortgage revenues of $295 million, driven by strong gain on sale margin Increased the allowance for credit losses, driving the coverage ratio to 1.69 percent; 2.60 percent, excluding warehouse Achieved stable capital ratios from balance sheet growth in low-risk asset categories