Loading...
•
Jun 30, 2021
Flagstar Financial Q2 2021 Earnings Report
Reported diluted EPS of $0.30, up 43% and $0.33 on a non-GAAP basis, up 57% year-over-year due to NIM improvement, lower operating expenses, solid credit trends, and good loan growth.
Key Takeaways
New York Community Bancorp reported a strong second quarter with diluted EPS of $0.30, up 43% year-over-year, and $0.33 on a non-GAAP basis, up 57% year-over-year. The company experienced net interest margin expansion, lower operating expenses and good loan growth.
Diluted EPS of $0.30, up 43%; non-GAAP diluted EPS of $0.33, up 57%.
Net income available to common shareholders was $144 million, up 48%.
NIM was 2.50%, up two bps sequentially and 32 bps year-over-year.
Total loans held for investment rose $449 million or 4% annualized to $43.6 billion on a linked-quarter basis.
Flagstar Financial
Flagstar Financial
Forward Guidance
The company is working diligently on the integration planning process with Flagstar, having made significant progress to date including selection of the technology platform and systems.
Positive Outlook
- Continued net interest margin expansion
- Lower operating expenses
- Good loan growth
- Solid credit quality trends
- Significant year-over-year increase in earnings per share