Flagstar Financial Q4 2020 Earnings Report

Reported strong fourth quarter and full-year results driven by double-digit net interest margin expansion and a substantial increase in pre-provision net revenue.

Key Takeaways

New York Community Bancorp reported a strong performance for Q4 2020, with diluted EPS of $0.39, up 70% compared to the previous quarter and 95% year-over-year. The company saw a 13% increase in pre-provision net revenue and a 27% increase in net interest income compared to the year-ago quarter. Asset quality remained solid, with non-performing assets declining.

Diluted GAAP EPS of $0.39, a 70% increase compared to the third quarter of this year and a 95% increase compared to the fourth quarter of last year.

Pre-provision net revenue totaled $189.4 million for the fourth quarter, up 13% relative to the prior quarter and up 42% relative to the year-ago quarter.

Net interest margin increased 18 bp to 2.47% compared to the previous quarter and was up 43 bp compared to the year-ago fourth quarter.

Loans and leases originated for investment totaled $3.9 billion, up 30% compared to the volumes originated during the three months ended September 30, 2020.