Last $20.39 USD
Change Today +0.24 / 1.19%
Volume 128.5K
FBC On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

flagstar bancorp inc (FBC) Snapshot

Open
$20.14
Previous Close
$20.15
Day High
$20.45
Day Low
$20.08
52 Week High
02/28/14 - $22.88
52 Week Low
05/1/13 - $12.29
Market Cap
1.1B
Average Volume 10 Days
167.6K
EPS TTM
$1.29
Shares Outstanding
56.2M
EX-Date
02/19/08
P/E TM
15.8x
Dividend
--
Dividend Yield
--
Current Stock Chart for FLAGSTAR BANCORP INC (FBC)

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flagstar bancorp inc (FBC) Details

Flagstar Bancorp, Inc. operates as the holding company for Flagstar Bank, FSB that provides various financial products and services to individuals and businesses in the United States. The company’s Mortgage Banking segment originates, acquires, sells, and services mortgage loans through home loan centers, national call centers, Internet, unaffiliated banks, and mortgage brokerage companies. Its products include one-to-four family residential first mortgage loans, adjustable-rate mortgage loans, interest-only mortgages, second mortgage loans, and home equity line of credit loans. This segment also services mortgage loans for others and sells mortgage servicing rights into the secondary market. Its Community Banking segment offers various financial products and services to individuals, small and middle market businesses, and mortgage lenders. Its products comprise checking, savings, sweep, and money market deposit accounts, as well as certificates of deposit; commercial loans; commercial real estate loans; commercial and industrial loans; commercial lease financing loans; and warehouse lines of credit. This segment also provides other financial services to consumer and commercial customers, including lines of credit, revolving credit, customized treasury management solutions, equipment and technology leasing, international services, and inventory and accounts receivable lending, as well as capital markets services, such as interest rate risk protection products, foreign exchange hedging, and trading of securities. The company also offers telephone banking services; government banking products; and treasury management services, such as remote deposit and merchant services. As of December 31, 2013, it operated through a regional office in Jackson, Michigan; 111 banking centers in Michigan; 39 home loan centers in 19 states; and 9 wholesale lending offices. Flagstar Bancorp, Inc. was founded in 1987 and is headquartered in Troy, Michigan.

3,253 Employees
Last Reported Date: 03/5/14
Founded in 1987

flagstar bancorp inc (FBC) Top Compensated Officers

Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $750.0K
Executive Vice President of Personal Financia...
Total Annual Compensation: $828.5K
Executive Vice President and Director of Loan...
Total Annual Compensation: $675.0K
Chief Credit Officer of Flagstar Bank FSB and...
Total Annual Compensation: $700.0K
Compensation as of Fiscal Year 2012.

flagstar bancorp inc (FBC) Key Developments

Flagstar Bancorp Mulls Acquisitions

Alessandro DiNello, President and Chief Executive Officer of Flagstar Bancorp Inc. (NYSE:FBC) said that its growth strategy will be to acquire smaller banks in Michigan.

Flagstar Bancorp Inc. Announces Consolidated Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Announces Net Charge for the Fourth Quarter Ended December 31, 2013; Provides Earnings Guidance for the First Quarter of 2014

Flagstar Bancorp Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported total interest income of $71,833,000 against $115,415,000 a year ago. Net interest income was $41,203,000 against $73,941,000 a year ago. The decrease from the prior quarter is primarily due to lower average balances in the mortgage loans available-for-sale and warehouse loans held-for-investment portfolios, and a lower yield on loans repurchased with government guarantees. Loss before income taxes was $248,456,000 against $88,577,000 a year ago. Net income applicable to common stockholders was $160,457,000 or $2.77 per diluted share against net loss applicable to common stockholders of $94,229,000 or $1.75 per diluted share a year ago. Return on average assets was 5.70% against negative return on average assets of 2.51% a year ago. Return on average equity was 50.39% against negative return on average equity of 29.26% a year ago. Net income was $161,906,000 against net loss of $92,912,000 a year ago. For the year, the company reported total interest income was $330,687,000 against $480,970,000 a year ago. Net interest income was $186,651,000 against $297,231,000 a year ago. Loss before income taxes was $149,263,000 against income before income taxes of $52,731,000 a year ago. Net income applicable to common stockholders was $261,203,000 or $4.37 per diluted share against $62,718,000 or $0.87 per diluted share a year ago. Return on average assets was 2.08% against 0.43% a year ago. Return on average equity was 21.09% against 5.26% a year ago. Net income was $266,987,000 against net loss of $68,376,000 a year ago. Book value per common share was $20.66 against $16.12 a year ago. For the quarter, the company reported charge offs, net was $107,593,000 against $41,516,000 a year ago. For the first quarter of 2014, the company expects that net interest income before provision for loan losses will increase by approximately 40% as compared to net interest income in fourth quarter of 2013. Such improvement in net interest income arises primarily from fourth quarter 2013 paydown of a long-term, fixed-rate FHLB advances. The company also expects that this will result in a net interest margin at the bank level by year-end 2014 of between 2.75% and 3%.

Flagstar Bancorp Inc. to Reduce Staffing Levels by Approximately 600 Positions as a Part of Organizational Restructuring

Flagstar Bancorp Inc. announced that it has implemented an organizational restructuring to reduce expenses in light of the current operating environment and consistent with its previously communicated strategy of optimizing its cost structure across all business lines. The decision to downsize its workforce was not made lightly, but is a necessary step on the path to achieving the company's long-term goals. These organizational changes will have no impact on its clients. As part of this restructuring initiative, the company will reduce staffing levels across the organization by approximately 600 positions from its September 30, 2013 headcount level. The company expects the restructuring will generate annualized cost savings of approximately $40 million when fully-implemented by the end of the first quarter of 2014. The company expects to incur a pre-tax charge of approximately $5.2 million related to this restructuring.

 

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Industry Analysis

FBC

Industry Average

Valuation FBC Industry Range
Price/Earnings 4.7x
Price/Sales 1.6x
Price/Book 1.0x
Price/Cash Flow 4.3x
TEV/Sales NM Not Meaningful
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