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Mar 31, 2021
Flagstar Financial Q1 2021 Earnings Report
Reported diluted EPS of $0.29, driven by NIM expansion, loan growth, lower operating expenses, deposit growth, and strong asset quality trends.
Key Takeaways
New York Community Bancorp reported a strong first quarter in 2021, marked by a 45% increase in diluted EPS to $0.29 and a 49% increase in net income available to common shareholders to $137.4 million. The company's performance was boosted by ongoing net interest margin (NIM) expansion, good loan growth, lower operating expenses, strong deposit growth, and strong asset quality trends. Additionally, NYCB announced a merger agreement with Flagstar Bancorp, expected to enhance its transformation strategy.
Diluted EPS increased 45% to $0.29.
Net income available to common shareholders rose 49% to $137.4 million.
Pre-provision net revenue increased 47% to $199.7 million.
Total deposits increased $1.8 billion, reaching $34.2 billion.
Forward Guidance
The company expects deposit costs to continue to decline, given current pricing trends and market interest rates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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