Flagstar Reports Second Quarter 2018 Net Income of $50 million, or $0.85 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., July 24, 2018 /PRNewswire/ --Key Highlights - Second Quarter 2018Net interest income rose $9 million, or 8 percent from first quarter 2018, driven by earning asset growth and net interest margin expansion. Mortgage revenues increased $8 million, or 13 percent from the prior quarter, led by a seasonal increase in mortgage originations and higher net return on MSR. Total revenue increased $21 million, or 10 percent, while noninterest expense rose a modest $4 million, or 2 percent from last quarter, benefiting from expense discipline and variable cost model. Strong asset quality with minimal net charge-offs and no commercial delinquencies. Pending acquisition of 52 Wells Fargo branches accelerates banking transformation.Flagstar Bancorp, Inc. (NYSE:FBC), the holding company for Flagstar Bank, FSB, today reported second quarter 2018 net income of $50 million, or $0.85 per diluted share, compared to first quarter 2018 net income of $35 million, or $0.60 per diluted share. For
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