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Mar 31, 2020
Flagstar Financial Q1 2020 Earnings Report
Reported diluted earnings per common share of $0.20 due to NIM expansion, net interest income growth, and an increase in loans.
Key Takeaways
New York Community Bancorp reported a net income of $100.3 million and diluted EPS of $0.20 for Q1 2020. Results included a provision for credit losses of $20.6 million due to CECL and COVID-19. The company saw growth in net interest income and net interest margin, driven by growth in the specialty finance portfolio and in the multi-family portfolio.
Diluted EPS of $0.20, up 5% year-over-year.
Net income available to common shareholders was $92.1 million, up 3% year-over-year.
Net interest income increased to $244.5 million.
Total assets were $54.3 billion, up 5% annualized.
Forward Guidance
The Company expects continued improvement in net interest income and net interest margin over the course of the year, at a faster pace than what was experienced during the current quarter. The company also expects loan pricing to improve.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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