Income Statement Flagstar Financial, Inc.

Equities

FLG

US6494454001

Banks

Market Closed - Nyse Other stock markets 04:00:02 2024-12-06 pm EST			5-day change	1st Jan Change
11.43 ^USD	+0.70%		-4.51%	-62.76%

Nov. 08	Tranche Update on Flagstar Financial, Inc.'s Equity Buyback Plan announced on October 24, 2018.	CI
Oct. 29	Deteriorating office loans stress US regional banks' CRE portfolios	RE

932ed6615a9f7a499b8da788f7.GdBgvQxj3NZstcSAWEIu3tVTkQcAyjNv5tn2gTAiWeg.U6YBi04zrI8l2KnDGStMqL40yUpviV4sv52M4GltILBvnhjYPTnurguClQ

Published financial data: FLAGSTAR FINANCIAL, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Interest Income On Loans	1.55B	1.54B	1.52B	1.85B	4.51B
Interest Income On Investments	252M	166M	164M	244M	982M
Interest Income, Total	1.81B	1.71B	1.69B	2.09B	5.49B
Interest On Deposits	530M	306M	114M	383M	1.76B
Total Interest On Borrowings	317M	302M	286M	313M	656M
Interest Expense, Total	848M	608M	400M	696M	2.41B
Net Interest Income	957M	1.1B	1.29B	1.4B	3.08B
Total Mortgage Banking Activities	-	-	-	-	-
Gain (Loss) on Sale of Loans	-	-	-	5M	89M
Gain (Loss) on Sale of Assets	7.9M	-	-	-	-
Gain (Loss) on Sale of Invest. & Securities - (Rev)	7.78M	1.26M	-	-2M	-1M
Total Other Non Interest Income	68.55M	59.82M	61M	85M	468M
Non Interest Income, Total	84.23M	61.08M	61M	88M	556M
Revenues Before Provison For Loan Losses	1.04B	1.16B	1.35B	1.48B	3.63B
Provision For Loan Losses	7.1M	62.23M	3M	133M	833M
Total Revenues	1.03B	1.1B	1.35B	1.35B	2.8B
Salaries And Other Employee Benefits	265M	267M	272M	325M	1.1B
Amort. of Goodwill & Intang. Assets	-	-	-	5M	126M
Occupancy Expense	60.48M	63.17M	61M	64M	114M
Selling General & Admin Expenses, Total	185M	181M	185M	215M	883M
Non Interest Expense, Total	511M	511M	518M	609M	2.22B
EBT, Excl. Unusual Items	523M	588M	829M	742M	575M
Total Merger & Related Restructuring Charges	-	-	-23M	-75M	-330M
Impairment of Goodwill	-	-	-	-	-2.43B
Other Unusual Items	-	-	-	159M	2.13B
EBT, Incl. Unusual Items	523M	588M	806M	826M	-50M
Income Tax Expense	128M	76.7M	210M	176M	29M
Earnings From Continuing Operations	395M	511M	596M	650M	-79M
Net Income to Company	395M	511M	596M	650M	-79M
Net Income - (IS)	395M	511M	596M	650M	-79M
Preferred Dividend and Other Adjustments	37.16M	38.63M	40M	41M	38M
Net Income to Common Incl Extra Items	358M	472M	556M	609M	-117M
Net Income to Common Excl. Extra Items	358M	472M	556M	609M	-117M
Per Share Items
Net EPS - Basic	2.31	3.06	3.6	3.78	-0.49
Basic EPS - Continuing Operations	2.31	3.06	3.6	3.78	-0.49
Basic Weighted Average Shares Outstanding	155M	154M	155M	161M	238M
Net EPS - Diluted	2.31	3.06	3.6	3.78	-0.49
Diluted EPS - Continuing Operations	2.31	3.06	3.6	3.78	-0.49
Diluted Weighted Average Shares Outstanding	155M	154M	155M	162M	238M
Normalized Basic EPS	2.11	2.38	3.35	2.88	1.51
Normalized Diluted EPS	2.11	2.38	3.35	2.87	1.51
Dividend Per Share	2.04	2.04	2.04	2.04	2.04
Payout Ratio	88.65	68.17	58.56	53.85	-656.96
Supplemental Items
Effective Tax Rate - (Ratio)	24.51	13.05	26.05	21.31	-58
Current Domestic Taxes	27.45M	-143M	223M	179M	215M
Total Current Taxes	27.45M	-143M	223M	179M	215M
Deferred Domestic Taxes	101M	219M	-13M	-3M	-186M
Total Deferred Taxes	101M	219M	-13M	-3M	-186M
Normalized Net Income	327M	367M	518M	464M	359M
Non-Cash Pension Expense	1.76M	-3.49M	-5M	-10M	-2M
Supplemental Operating Expense Items
Stock-Based Comp., SG&A Exp. (Total)	36.25M	33.7M	31M	29M	47M
Total Stock-Based Compensation	36.25M	33.7M	31M	29M	47M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	742M	1.95B	2.21B	2.03B	11.48B
Investment Securities, Total	2.59B	2.89B	3.08B	4.59B	2.97B
Trading Asset Securities, Total	-	-	-	234M	138M
Mortgage Backed Securities	3.35B	3.04B	2.79B	4.79B	6.56B
Total investments	5.94B	5.93B	5.87B	9.61B	9.67B
Gross Loans	42B	43B	45.83B	69.09B	84.88B
Allowance For Loan Losses	-148M	-194M	-199M	-393M	-992M
Other Adjustments to Gross Loans	-105M	-116M	-95M	-85M	-258M
Net Loans	41.75B	42.69B	45.54B	68.61B	83.63B
Net Property Plant And Equipment	599M	554M	519M	610M	1.08B
Goodwill	2.43B	2.43B	2.43B	2.43B	-
Other Intangibles, Total	-	-	-	287M	625M
Investment in FHLB	648M	714M	734M	1.27B	1.39B
Loans Held For Sale	-	117M	-	1.12B	1.18B
Accrued Interest Receivable	-	234M	214M	323M	461M
Other Receivables	-	-	-	-	-
Restricted Cash	-	-	-	50M	135M
Deferred Tax Assets Long-Term (Collected)	-	-	-	-	-
Other Real Estate Owned And Foreclosed	12.27M	8.32M	8M	12M	14M
Other Long-Term Assets, Total	1.52B	1.69B	2B	3.8B	4.4B
Total Assets	53.64B	56.31B	59.53B	90.14B	114B
Liabilities
Interest Bearing Deposits	21.32B	22.61B	27.78B	42.92B	53.13B
Institutional Deposits	7.91B	6.75B	2.75B	3.75B	7.89B
Non-Interest Bearing Deposits	2.43B	3.08B	4.53B	12.06B	20.5B
Total Deposits	31.66B	32.44B	35.06B	58.72B	81.53B
Short-Term Borrowings	-	-	-	2.94B	1.55B
Current Portion of Long-Term Debt	4.52B	3.27B	3.75B	7.52B	7.35B
Current Portion of Leases	27.3M	26.96M	26M	28M	71M
Long-Term Debt	1.1B	1.1B	1.1B	432M	438M
Federal Home Loan Bank Debt - Long-Term	8.58B	11.36B	11.36B	10B	11.9B
Long-Term Leases	259M	240M	223M	94M	375M
Trust Preferred Securities (BS)	360M	360M	361M	575M	579M
Accrued Interest Payable	-	19.3M	18M	37M	50M
Other Current Liabilities - (Bank / Utility Template)	-	172M	87M	197M	915M
Pension & Other Post Retirement Benefits	-	11.85M	10M	7M	8M
Deferred Tax Liability Non-Current	-	420M	384M	107M	517M
Other Non Current Liabilities	428M	54.52M	114M	661M	407M
Total Liabilities	46.93B	49.46B	52.48B	81.32B	106B
Preferred Stock Non Redeemable	503M	503M	503M	503M	503M
Total Preferred Equity	503M	503M	503M	503M	503M
Common Stock, Total	4.9M	4.9M	5M	7M	7M
Additional Paid In Capital	6.12B	6.12B	6.13B	8.13B	8.23B
Retained Earnings	342M	494M	741M	1.04B	443M
Treasury Stock	-221M	-258M	-246M	-237M	-218M
Comprehensive Income and Other	-32.84M	-25.48M	-85M	-620M	-599M
Total Common Equity	6.21B	6.34B	6.54B	8.32B	7.86B
Total Equity	6.71B	6.84B	7.04B	8.82B	8.37B
Total Liabilities And Equity	53.64B	56.31B	59.53B	90.14B	114B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	156M	155M	156M	228M	258M
ECS Total Common Shares Outstanding	156M	155M	155M	227M	241M
Book Value / Share	39.86	40.99	42.2	36.64	32.67
Tangible Book Value	3.78B	3.91B	4.12B	5.61B	7.24B
Tangible Book Value Per Share	24.28	25.3	26.55	24.7	30.08
Tangible Book Value Per Share (As Reported)	24.27	25.29	26.55	24.69	-
Average Assets	52.11B	54.11B	57.55B	64.4B	110B
Average Loans	40.38B	42.03B	43.2B	49.38B	81.86B
Total Debt	14.84B	16.35B	16.81B	21.59B	22.27B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-82.66M	-88.9M	-125M	-112M	-138M
Net Debt	14.1B	14.4B	14.6B	19.32B	10.65B
Equity Method Investments, Total	57.1M	84.5M	76M	304M	372M
Full Time Employees	2.79K	2.95K	2.82K	7.5K	8.77K
Number Of Offices	238	237	237	395	420

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	395M	511M	596M	650M	-79M
Depreciation, Depletion & Amortization	27.1M	23.87M	39M	18M	39M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	5M	126M
Total Depreciation, Depletion & Amortization	27.1M	23.87M	39M	23M	165M
Gain (Loss) on Sale of Loans & Receivables - (CF)	75K	-	-1M	-5M	-89M
(Gain) Loss On Sale of Asset - (CF)	-7.4M	-	-	-2M	-
(Gain) Loss on Sale of Investments - (CF)	160K	9.84M	-5M	-35M	222M
Total Asset Writedown	-	-	-	-	2.43B
Provision for Credit Losses	7.1M	62.23M	3M	133M	833M
Stock-Based Compensation (CF)	32.05M	29.4M	31M	29M	47M
Net (Increase) Decrease in Loans Originated / Sold - Operating	-	-	-	-	-
Change in Trading Asset Securities	66K	23K	0	0	0
Change in Other Net Operating Assets (Collected)	-45.25M	-522M	-342M	395M	-944M
Other Operating Activities	101M	219M	-31M	-162M	-2.32B
Cash from Operations	510M	334M	290M	1.03B	263M
Capital Expenditure	-	-	-4M	-3M	-66M
Sale of Property, Plant, and Equipment	9.3M	1.31M	-	-	-
Cash Acquisitions	-	-	-	331M	24.9B
Purchase / Sale of Intangible Assets	-	-	-	-	50M
Investment in Marketable and Equity Securities, Total	-180M	31.78M	-68M	-1.28B	214M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-1.75B	-1B	-2.68B	-5.18B	-4.33B
Other Investing Activities, Total	-141M	-54.15M	-8M	-188M	-95M
Cash from Investing	-2.06B	-1.03B	-2.76B	-6.32B	20.67B
Short Term Debt Issued, Total	1.1B	1.15B	950M	2.55B	-
Long-Term Debt Issued, Total	4.79B	6.92B	2.07B	9.48B	19.85B
Total Debt Issued	5.89B	8.08B	3.02B	12.03B	19.85B
Short Term Debt Repaid, Total	-	-	-	-	-550M
Long-Term Debt Repaid, Total	-5.54B	-6.55B	-2.54B	-13.96B	-19.37B
Total Debt Repaid	-5.54B	-6.55B	-2.54B	-13.96B	-19.92B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-75.22M	-59.02M	-16M	-24M	-12M
Issuance of Preferred Stock	-	-	-	-	-
Common Dividends Paid	-317M	-316M	-316M	-317M	-486M
Preferred Dividends Paid	-32.83M	-32.83M	-33M	-33M	-33M
Common & Preferred Stock Dividends Paid	-350M	-348M	-349M	-350M	-519M
Net Increase (Decrease) in Deposit Accounts - (CF)	893M	780M	2.62B	7.66B	-10.74B
Other Financing Activities, Total	-	-	-	-189M	-66M
Cash from Financing	816M	1.9B	2.74B	5.17B	-11.41B
Net Change in Cash	-733M	1.21B	263M	-129M	9.53B
Supplemental Items
Cash Interest Paid	813M	633M	402M	657M	2.29B
Cash Income Tax Paid (Refund)	75.68M	118M	471M	17M	54M
Net Debt Issued / Repaid	349M	1.52B	478M	-1.93B	-74M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	0.75	0.93	1.03	0.87	-0.08
Return On Equity %	5.91	7.54	8.58	8.19	-0.92
Return on Common Equity	5.79	7.53	8.63	8.2	-1.45
Shareholders Value Added	-347M	-242M	-162M	-190M	-718M
Margin Analysis
SG&A Margin	49.42	46.51	38.46	44.71	74.96
Net Interest Income / Total Revenues %	92.54	100.1	95.69	103.33	109.89
EBT Excl. Non-Recurring Items Margin %	50.58	53.49	61.54	54.92	20.54
Income From Continuing Operations Margin %	38.19	46.51	44.25	48.11	-2.82
Net Income Margin %	38.19	46.51	44.25	48.11	-2.82
Net Avail. For Common Margin %	34.59	42.99	41.28	45.08	-4.18
Normalized Net Income Margin	31.62	33.43	38.47	34.33	12.83
Asset quality
Nonperforming Loans / Total Loans %	0.15	0.09	0.07	0.2	0.5
Nonperforming Loans / Total Assets %	0.11	0.07	0.06	0.16	0.38
Nonperforming Assets / Total Assets %	0.14	0.08	0.07	0.17	0.39
NPAs / Loans and OREO	0.17	0.11	0.09	0.22	0.52
NPAs / Equity	1.1	0.67	0.58	1.73	5.28
Allowance for Credit Losses / Net Charge-offs %	765.48	1.03K	-9.95K	-9.82K	476.92
Allowance for Credit Losses / Nonperforming Loans %	241.07	513.54	603.03	278.72	231.78
Allowance for Credit Losses / Total Loans %	0.35	0.45	0.43	0.57	1.17
Net Charge-offs / Total Average Loans %	0.05	0.04	-0	-0.01	0.25
Provision for Loan Losses / Net Charge-offs %	36.84	331.26	-150	-3.32K	400.48
Earning Assets / IBL	112.3	112.28	115.53	115.3	138.54
Interest Income / Average Assets	3.46	3.16	2.94	3.25	4.97
Interest Expense / Average Assets	1.63	1.12	0.7	1.08	2.18
Net Interest Income / Average Assets	1.84	2.03	2.24	2.17	2.78
Non Interest Income / Average Assets	0.16	0.11	0.11	0.14	0.5
Non Interest Expense / Average Asset	0.98	0.94	0.9	0.95	2.01
Capital And Funding
Total Average Common Equity / Total Average Assets %	11.71	11.41	11.12	9.93	7.93
Total Average Equity / Total Average Assets %	12.67	12.33	11.99	10.6	8.42
Total Equity + Allowance for Loan Losses / Total Loans %	16.33	16.36	15.8	13.34	11.03
Gross Loans / Total Deposits %	132.67	132.57	130.73	117.65	104.11
Net Loans / Total Deposits %	131.87	131.61	129.89	116.84	102.58
Tier 1 Capital Ratio %	11.22	10.95	10.83	9.78	9.62
Total Capital Ratio %	13.27	12.97	12.73	11.66	11.77
Core Tier 1 Capital Ratio	9.91	9.72	9.68	9.06	9.05
Equity Tier 1 Capital Ratio	7.39	7.26	7.21	6.41	-
Coverage Ratio	252.89	-	-	-	-
Leverage Ratio %	8.66	8.52	8.46	9.7	7.75
Interbank Ratio	-	-	-	-	-
Fixed Charges Coverage
EBT + Interest on Borrowings / Interest on Borrowings	2.65	2.95	3.82	3.64	0.92
EBT + Interest Expense / Interest Expense