earnings
confidence high
sentiment negative
materiality 0.80
NYCB reports Q3 net loss of $289M; deposits up $4B, NIM declines to 1.79%
FLAGSTAR BANK, NATIONAL ASSOCIATION
2024-Q3 EPS reported
-$3.16
- Q3 GAAP net loss of $289M ($0.79/diluted share); non-GAAP net loss of $252M ($0.69/share).
- Deposits rose $4B to $83B; wholesale borrowings cut 31% to $19.3B; loan/deposit ratio 86%.
- Net interest margin fell 19bp QoQ to 1.79%; net interest income down 8% to $510M.
- Provision for credit losses $242M; net charge-offs $240M; ACL coverage 1.87% vs 1.78% Q2.
- Company changed name to Flagstar Financial, Inc. (ticker FLG); director Peter Schoels resigned.