secwatch.observer — SEC 8-K summary
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Issuer:     FLAGSTAR BANK, NATIONAL ASSOCIATION (FLG)
CIK:        0000910073
Form:       8-K
Filed at:   2024-10-25T23:59:59+00:00
Accession:  0000910073-24-000179
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NYCB reports Q3 net loss of $289M; deposits up $4B, NIM declines to 1.79%
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/910073/000091007324000179/0000910073-24-000179-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/910073/000091007324000179/nycb-20241025.htm
  HTML page:      https://secwatch.observer/filing/0000910073-24-000179

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer