Flagstar Bancorp Reports First Quarter 2020 Net Income of $46 Million, or $0.80 Per Diluted Share
Flagstar Bancorp, Inc. (FBC)
Last flagstar bancorp, inc. earnings: 4/28 06:30 am
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US:NYSE Investor Relations:
flagstar.com/about-flagstar.html
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Source: PR Newswire
TROY, Mich., April 28, 2020 /PRNewswire/ --Key Highlights - First Quarter 2020Transitioned smoothly to remote operations to protect the health of employees and ensure business continuity Achieved mortgage revenues of $96 million, driven by strong refinance volume and higher return on MSRs Effectively managed NIM compression through the challenging rate environment Adopted CECL, increasing credit reserves to $152 million at March 31st Ended the quarter in a solid financial position--ample capital and liquidityFlagstar Bancorp, Inc. (NYSE: FBC), the holding company for Flagstar Bank, FSB, today reported first quarter 2020 net income of $46 million, or $0.80 per diluted share, compared to fourth quarter 2019 net income of $58 million, or $1.00 per diluted share and first quarter 2019 net income of $36 million, or $0.63 per diluted share."We posted strong results in the quarter," said Alessandro DiNello, president and chief executive officer of Flagstar Bancorp, Inc. "but the real story o
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