FLAGSTAR FINANCIAL INC

For the period ended Dec 31, 2024. Filed Mar 4, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 4, 2025

FLG$10.51-0.7%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of (Loss) Income for the years ended

Consolidated Statements of (Loss) Income

	Year Ended December 31,
(in millions, except per share data)	2024	2023	2022
INTEREST INCOME:
Loans and leases	$4,369	$4,509	$1,848
Securities and money market investments	1,584	982	244
Total interest income	5,953	5,491	2,092
INTEREST EXPENSE:
Interest-bearing checking and money market accounts	869	943	226
Savings accounts	345	169	60
Certificates of deposit	1,362	646	97
Borrowed funds	1,225	656	313
Total interest expense	3,801	2,414	696
Net interest income	2,152	3,077	1,396
Provision for credit losses	1,092	833	133
Net interest income after provision for credit loan losses	1,060	2,244	1,263
NON-INTEREST INCOME:
Fee income	150	172	27
Bank-owned life insurance	42	43	32
Net return on mortgage servicing rights	73	103	6
Net gain on loan sales and securitizations	48	89	5
Net gain on mortgage/servicing sale	89	—	—
Net loan administration income	2	82	3
Bargain purchase gain	(121)	2,131	159
Other	117	67	15
Total non-interest income	400	2,687	247
NON-INTEREST EXPENSE:
Operating expenses:
Compensation and benefits	1,263	1,149	354
FDIC insurance	313	126	—
Occupancy and equipment	211	200	92
General and administrative	809	624	158
Total operating expense	2,596	2,099	604
Intangible asset amortization	136	126	5
Merger-related and restructuring expenses	106	330	75
Goodwill impairment	—	2,426	—
Total non-interest expense	2,838	4,981	684
(Loss) income before income taxes	(1,378)	(50)	826
Income tax (benefit)/expense	(260)	29	176
Net (loss) income	$(1,118)	$(79)	$650
Preferred stock dividends	35	33	33
Net (loss) attributable / net income available to common stockholders	$(1,153)	$(112)	$617
Basic (loss) earnings per common share (1)	$(3.49)	$(0.49)	$3.78
Diluted (loss) earnings per common share (1)	$(3.49)	$(0.49)	$3.77

(1)On June 27, 2024, the Company announced a 1 for 3 reverse stock split, effective July 11, 2024. This reverse stock split is reflected retroactively in all periods presented. See Note 1 - Description of Business, Organization and Basis of Presentation.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.