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Last $19.78 USD
Change Today +0.20 / 1.02%
Volume 236.9K
FBC On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

flagstar bancorp inc (FBC) Key Developments

Flagstar Bancorp Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Announces Net Charge-Offs for the Second Quarter Ended June 30, 2015

Flagstar Bancorp Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net interest income of $72.5 million against $62.5 million a year ago. The increase from the prior quarter was led by solid interest-earning asset growth and net interest margin expansion. Net interest income after provision for loan losses was $85.8 million against $56.3 million a year ago. Income before income taxes was $73.9 million against $37.4 million a year ago. Net income applicable to common stockholders was $46.4 million or $0.68 per basic and diluted share against $25.5 million or $0.33 per diluted share a year ago. Total interest income was $89.0 million against $71.9 million a year ago. Return on average assets was 1.57% against 1.04% a year ago. Return on average equity was 12.71% against 7.38% a year ago. Book value per share at June 30, 2015 was $20.98 compared to $19.90 a year ago. For the six months, the company reported net income was $77.9 million compared with loss of $52.9 million a year ago. Net profit applicable to common stockholders was $63.2 million or $1.12 per basic and diluted share against net loss applicable to common stockholders of $65.9 million or $1.17 per diluted share a year ago. Total interest income was $138,264,000 against $180,047,000 a year ago. Return on average assets was 1.38% against negative return on average assets of 1.12% a year ago. Return on average equity was 10.81% against negative return on average equity of 7.56% a year ago. Net charge-offs in the second quarter 2015 were $17.7 million, or 1.49% of applicable loans, compared to $40.5 million, or 3.97% of applicable loans in the prior quarter. The second quarter 2015 amount included $14.6 million of net charge-offs associated with the sale of $456.3 million unpaid principal balance of interest-only and lower performing loans during the quarter.

Flagstar Bancorp Inc. to Report Q2, 2015 Results on Jul 28, 2015

Flagstar Bancorp Inc. announced that they will report Q2, 2015 results at 6:30 AM, US Eastern Standard Time on Jul 28, 2015

Flagstar Bancorp Inc., Q2 2015 Earnings Call, Jul 28, 2015

Flagstar Bancorp Inc., Q2 2015 Earnings Call, Jul 28, 2015

Flagstar Bancorp Hires Leonard Israel to Lead its Mortgage Division

Flagstar Bancorp has announced that it has hired an executive to lead its mortgage division. The firm has appointed industry veteran, Leonard Israel, to the position. He is to report to Alessandro DiNello, chief executive.

Flagstar Bancorp Inc. and Flagstar Bank, FSB Announce the Resignation of Michael C. Flynn as Executive Vice President and Chief Legal Officer, Effective June 30, 2015

On June 18, 2015, Michael C. Flynn announced his intention to resign as Executive Vice P resident and Chief Legal Officer of Flagstar Bancorp Inc. and its wholly-owned subsidiary, Flagstar Bank, FSB, effective June 30, 2015.

 

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Industry Analysis

FBC

Industry Average

Valuation FBC Industry Range
Price/Earnings 34.1x
Price/Sales 1.6x
Price/Book 0.9x
Price/Cash Flow 18.3x
TEV/Sales NM Not Meaningful
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