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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.
Flagstar Financial
Flagstar Financial
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.