Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


Last $17.40 USD
Change Today -0.07 / -0.40%
Volume 180.2K
FBC On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 4:15 PM 05/5/15 All times are local (Market data is delayed by at least 15 minutes).

flagstar bancorp inc (FBC) Key Developments

Flagstar Bancorp, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Net Charge-Offs for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter of 2015

Flagstar Bancorp Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total interest income of $79.3 million against $66.4 million a year ago. Net interest income was $64.9 million against $58.2 million a year ago. Net interest income after provision for loan losses was $68.4 million against net interest loss after provision for loan losses of $54.1 million a year ago. Income before income taxes was $49.7 million against loss before income taxes of $118.4 million a year ago. Net income was $31.5 million against net loss of $78.4 million a year ago. Diluted earnings per share were $0.43 against loss per share of $1.51 a year ago. Net income applicable to common stockholders was $31.5 million against net loss applicable to common stockholders of $78.9 million a year ago. Return on average assets as at March 31, 2015 was 1.16% against negative return on average assets of 3.39% a year ago. Return on average equity as at March 31, 2015 was 8.85% against negative return on average equity was 21.85% a year ago. Adjusted net income applicable to common stockholders was $31.5 million against adjusted net loss applicable to common stockholders of $65.2 million a year ago. Diluted adjusted earnings per share were $0.43 against diluted adjusted loss per share of $1.26 a year ago. Book value per common share as at March 31, 2015 was $20.43 against $19.29 a year ago. For the quarter, the company net charge-offs in the first quarter 2015 were $40.5 million, or 3.97% of applicable loans, compared to $9.0 million, or 0.91% of applicable loans in the prior quarter. The first quarter 2015 amount included $36.0 million of net charge-offs associated with the sale of $331 million of lower performing loans during the quarter. Excluding loan sales in both quarters, net charge-offs in the first quarter of 2015 were $4.6 million, or 0.45% of applicable loans, compared to $6.0 million, or 0.60% of applicable loans in the prior quarter. The company provided earnings guidance for the second quarter 2015. For the quarter, the company expects net interest income to increase approximately 10% as continue to grow earning assets. Mortgage locks are expected to remain flat with originations up 10% to 15%. The company expects the decline in gain on loan sale margin. Loan administration income is expected to remain at the first quarter level. The company expects the net return on the mortgage servicing asset to remain under pressure giving elevated prepayment rates. The company expects the effective tax rate in first quarter to remain content in second quarter to remain constant.

Flagstar Bancorp Inc. to Report Q1, 2015 Results on Apr 28, 2015

Flagstar Bancorp Inc. announced that they will report Q1, 2015 results at 6:30 AM, US Eastern Standard Time on Apr 28, 2015

Flagstar Bancorp Inc., Q1 2015 Earnings Call, Apr 28, 2015

Flagstar Bancorp Inc., Q1 2015 Earnings Call, Apr 28, 2015

Flagstar Bancorp Inc. Appoints Bruce E. Nyberg as Director

On March 24, 2015, the Board of Directors of Flagstar Bancorp Inc. appointed Bruce E. Nyberg as a director, having received regulatory non-objection from the Federal Reserve. No determination has yet been made naming Mr. Nyberg to a committee of the Board. Before joining the Bank, from 2001 to 2007, Mr. Nyberg was Regional President-East Michigan for Huntington Bancshares Incorporated. He also previously served in several management roles for NBD Bancorp, whose operations were subsequently integrated into those of J.P. Morgan Chase.

Flagstar Bancorp Inc. Appoints Bryan Marx as Principal Accounting Officer

On January 21, 2015, the board of directors of Flagstar Bancorp Inc. appointed Bryan Marx, as its principal accounting officer. The duties of the principal accounting officer were previously performed by James K. Ciroli, Executive Vice President and Chief Financial Officer of the company. In this role, Mr. Marx will continue to report to Mr. Ciroli. Mr. Marx joined the company and Flagstar Bank, FSB, as a Senior Vice President in the Accounting Group in October, 2013. Prior to joining the company, Mr. Marx worked in public accounting for fifteen years, most recently as a senior manager with PricewaterhouseCoopers LLP in the firm's Banking and Capital Markets practice group.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
FBC:US $17.40 USD -0.07

FBC Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Boston Private Financial Holdings Inc $12.54 USD -0.09
NBT Bancorp Inc $24.04 USD -0.16
Old National Bancorp/IN $13.53 USD -0.07
PennyMac Financial Services Inc $18.31 USD -0.22
Trustmark Corp $23.80 USD -0.14
View Industry Companies
 

Industry Analysis

FBC

Industry Average

Valuation FBC Industry Range
Price/Earnings 80.0x
Price/Sales 1.5x
Price/Book 0.9x
Price/Cash Flow 24.4x
TEV/Sales NM Not Meaningful
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact FLAGSTAR BANCORP INC, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.