NYCB posts Q2 2024 GAAP net loss of $1.14 per share; deposits up 5.6% sequentially

FLAGSTAR BANK, NATIONAL ASSOCIATION

2024-Q2 EPS reported -$2.48

Net loss of $323M; GAAP diluted EPS loss of $1.14; adjusted EPS loss of $1.05.
Provision for credit losses of $390M; net charge-offs of $349M (0.42% of avg loans).
Total ACL improved to 1.78% of loans held for investment from 1.56% last quarter.
Deposits grew $4.2B to $79.0B (+5.6% QoQ); pro-forma liquidity ~$40B.
Pro-forma CET1 ratio of 11.2% after sale of mortgage servicing rights and warehouse business.

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