FLAGSTAR FINANCIAL INC
For the period ended Dec 31, 2024. Filed Mar 4, 2025.
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FY2024 · Filed Mar 4, 2025
FLG$10.51-0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows for the years ended
| Year Ended December 31, | |||||
|---|---|---|---|---|---|
| (in millions) · 2024 · 2023 · 2022 | |||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||||
| Net (loss) income | $(1,118) | $(79) | $650 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||
| Provision for credit losses | 1,092 | 833 | 133 | ||
| Amortization of intangibles | 136 | 126 | 5 | ||
| Depreciation | 48 | 39 | 18 | ||
| Amortization of discounts and premiums, net | 181 | 221 | (37) | ||
| Net loss on securities | — | 1 | 2 | ||
| Net gain on MSR sale | (89) | — | — | ||
| Net gain on sales of loans | (48) | (89) | (5) | ||
| Net gain on sales of fixed assets | — | — | (2) | ||
| Long-term asset impairment | 77 | — | — | ||
| Loss (gain) on business acquisition | 121 | (2,131) | (159) | ||
| Goodwill Impairment | — | 2,426 | — | ||
| Stock-based compensation | 54 | 47 | 29 | ||
| Deferred tax expense | (411) | (187) | (3) | ||
| Changes in operating assets and liabilities: | |||||
| Decrease (increase) in other assets | 282 | (721) | 348 | ||
| Decrease in other liabilities | (769) | (255) | (100) | ||
| Purchases of securities held for trading | — | (10) | (75) | ||
| Proceeds from sales of securities held for trading | — | 10 | 75 | ||
| Change in loans held for sale, net | 530 | 32 | 147 | ||
| Proceeds from sales of loans originated for sale | — | — | |||
| Net cash provided by operating activities | 86 | 263 | 1,026 | ||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||
| Proceeds from repayment of securities available for sale | 2,099 | 1,402 | 732 | ||
| Proceeds from sales of securities available for sale including loans that have been securitized | 373 | 1,858 | 228 | ||
| Purchase of securities available for sale | (3,440) | (3,046) | (2,242) | ||
| Redemption of Federal Home Loan Bank stock | 436 | 1,501 | 635 | ||
| Purchases of Federal Home Loan Bank and Federal Reserve Bank stock | (190) | (1,626) | (839) | ||
| Proceeds from bank-owned life insurance, net | 21 | 30 | 16 | ||
| Purchases of loans | — | — | (162) | ||
| Net proceeds from sales of MSR's | 1,418 | 50 | — | ||
| Other changes in loans, net | 14,772 | (4,331) | (5,019) | ||
| Purchases of premises and equipment, net | (36) | (66) | (3) | ||
| Cash acquired in business acquisition | — | 24,901 | 331 | ||
| Net cash provided by (used in) investing activities | 15,453 | 20,673 | (6,323) | ||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||
| Net (decrease) increase in deposits | (5,671) | (10,738) | 7,662 | ||
| Net (decrease) increase in short-term borrowed funds | (4,250) | (550) | 2,550 | ||
| Proceeds from long-term borrowed funds | 28,236 | 19,850 | 9,479 | ||
| Repayments of long-term borrowed funds | (30,837) | (19,374) | (13,960) | ||
| Net receipt (disbursement) of payments of loans serviced for others | 27 | (66) | (189) | ||
| Cash dividends paid on common stock | (53) | (486) | (317) | ||
| Cash dividends paid on preferred stock | (35) | (33) | (33) | ||
| Treasury stock repurchased | — | — | (7) | ||
| Proceeds from common stock issued, net | 1,004 | — | — | ||
| Proceeds from preferred stock issued, net | 1 | — | — | ||
| Payments relating to treasury shares received for restricted stock award tax payments | (11) | (12) | (17) | ||
| Net cash (used in) provided by financing activities | (11,589) | (11,409) | 5,168 | ||
| Net increase (decrease) in cash, cash equivalents, and restricted cash (1) | 3,950 | 9,527 | (129) |
|---|---|---|---|
| Cash, cash equivalents, and restricted cash at beginning of year (1) | 11,609 | 2,082 | 2,211 |
| Cash, cash equivalents, and restricted cash at end of year (1) | $15,559 | $11,609 | $2,082 |
| Supplemental information: | |||
| Cash paid for interest | $3,693 | $2,290 | $657 |
| Cash paid for income taxes | 33 | 54 | 17 |
| Non-cash investing and financing activities: | |||
| Transfers to repossessed assets from loans | $6 | $9 | $— |
| Securitization of loans to mortgage-backed securities available for sale | 267 | 222 | 162 |
| Transfer of loans from held for investment to held for sale | 8,610 | 163 | — |
| Non-cash reclassification of LHFS to securitized HFS loans | — | — | 153 |
| Transfer of loans from held for sale to held for investment | — | — | — |
| Mortgage servicing rights resulting from sale or securitization of loans | — | — | 19 |
| Shares issued for restricted stock awards | 10 | 31 | 33 |
| Business Combinations: | |||
| Fair value of tangible assets acquired | — | 37,384 | 24,449 |
| Intangible assets | — | 464 | 292 |
| Mortgage servicing rights | — | — | 1,012 |
| Liabilities assumed | — | 35,632 | 23,584 |
| Common Stock issued in business combination | — | — | 2,010 |
| Issuance of FDIC Equity appreciation instrument | — | 85 | — |
(1)For further information on restricted cash, see Note 2 - Summary of Significant Accounting Policies
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