NYCB reports $2.4B goodwill impairment, material weaknesses, delays 10-K filing

FLAGSTAR BANK, NATIONAL ASSOCIATION

Q4 2023 net loss available to common stockholders of $2.713B ($3.76 diluted EPS) after $2.4B goodwill impairment charge.
Goodwill impairment fully writes off historical goodwill; no cash impact and no effect on regulatory capital ratios.
Material weaknesses identified in internal loan review controls; expects to report ineffective disclosure controls and ICFR for fiscal 2023.
Will file Form 12b-25 to delay 10-K; expects to file within 15-day grace period; also recorded $19M reduction in bargain purchase gain from Signature deal and $10M FDIC special assessment.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FLAGSTAR BANK, NATIONAL ASSOCIATION reported the three months ended December 31, 2023 results: net income $ (2,713 ), EPS $ (3.76 ) per diluted share.

Period: the three months ended December 31, 2023
Net income: $ (2,713 )
EPS: $ (3.76 ) per diluted share
Result: reported results

Exact text from the filing

Net (loss) income available to common stockholders $ (2,713 ) $ 199 $ 164 -1463 % -1754 % Basic (loss) earnings per common share $ (3.76 ) $ 0.27 $ 0.30 -1493 % -1353 % Diluted (loss) earnings per common share $ (3.76 ) $ 0.27 $ 0.30 -1493 % -1353 %

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FLAGSTAR BANK, NATIONAL ASSOCIATION reported the fiscal year ended December 31, 2023 results: net income $ (112 ).

Period: the fiscal year ended December 31, 2023
Net income: $ (112 )
Result: reported results

Exact text from the filing

Net (loss) income available to common stockholders $ (112 ) $ 617 (729 ) -118 %

View on SEC.gov

51 earnings releases filed in the last 30 days. Browse all earnings releases →

FLAGSTAR BANK, NATIONAL ASSOCIATION filing history →

Source: SEC EDGAR

accession 0001193125-24-053449

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.