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Dec 31, 2019
Flagstar Financial Q4 2019 Earnings Report
Reported diluted earnings per common share of $0.20, driven by strong loan growth and a higher net interest margin.
Key Takeaways
New York Community Bancorp reported a net income of $101.2 million for Q4 2019, a 2% increase compared to the previous quarter. The diluted earnings per share was $0.20, up 5% from Q3 2019. Loan growth was strong, particularly in multi-family and specialty finance portfolios, and the net interest margin improved.
Net income for the fourth quarter of 2019 totaled $101.2 million compared to $99.0 million for the third quarter of 2019.
Net income available to common shareholders for the fourth quarter of 2019 was $93.0 million or $0.20 per common share, compared to $90.8 million for the third quarter of 2019, or $0.19 per common share.
Total assets were $53.6 billion, up 3% compared to December 31, 2018 and up 8% on an annualized basis compared to the third quarter of 2019.
The net interest margin for the fourth quarter was 2.04%, up 5 basis points compared to the third quarter 2019 net interest margin, driven primarily by lower funding costs.
Forward Guidance
Company expects loan growth and margin expansion throughout 2020.
Positive Outlook
- Expects loan growth throughout 2020.
- Expects margin expansion throughout 2020.
- Liability sensitive balance sheet.
- Federal Reserve’s current stance on interest rates.
- Significant repricing opportunities within CD portfolio and wholesale borrowings.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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