Flagstar Reports Third Quarter 2018 Net Income of $48 million, or $0.83 per Diluted Share
Flagstar Bancorp, Inc. (FBC)
Last flagstar bancorp, inc. earnings: 4/28 06:30 am
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flagstar.com/about-flagstar.html
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Source: PR Newswire
TROY, Mich., Oct. 23, 2018 /PRNewswire/ -- Key Highlights - Third Quarter 2018Adjusted 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 expense management and lower mortgage expenses. Pristine asset quality - minimal net charge-offs, very low delinquencies and strong allowance for loan loss coverage.Flagstar Bancorp, Inc. (NYSE: FBC), the holding company for Flagstar Bank, FSB, today reported third quarter 2018 net income of $48 million, or $0.83 per diluted share, and adjusted net income
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