NYCB reports Q1 net loss of $327M; targets 1% ROAA by Q4 2026

FLAGSTAR BANK, NATIONAL ASSOCIATION

2024-Q1 EPS reported -$0.45

Net loss of $327M; diluted EPS -$0.45; adjusted net loss $174M (-$0.25 adjusted EPS).
Raised over $1B in equity; CET1 ratio 9.45% (10.14% fully converted); target CET1 11-12%.
ACL on loans increased to 1.48% vs 1.17% prior quarter; provision for credit losses $315M.
Nonperforming loans rose to 0.97% of LHFI from 0.51% linked quarter.
Targets ROAA of 1% and ROATCE of 11-12% by Q4 2026.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FLAGSTAR BANK, NATIONAL ASSOCIATION reported first quarter 2024 results: net income net loss of $327 million, EPS $0.45 per diluted share. Guidance raised.

Period: first quarter 2024
Net income: net loss of $327 million
EPS: $0.45 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

The Company reported a net loss of $327 million for first quarter 2024 and a net loss available to common shareholders of $335 million, or $0.45 per diluted share.

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Source: SEC EDGAR

accession 0000910073-24-000128

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