FLAGSTAR BANK, NATIONAL ASSOCIATION
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
FLG$10.58+0.6%Stored close · as of Nov 9, 2026
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Table of Contents
Flagstar Bank, National Association
FORM 10-K
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2025
TABLE OF CONTENTS
| Cautionary Statement Regarding Forward-Looking Language | 6 | |
|---|---|---|
| PART I | ||
| ITEM 1. | Business | 9 |
| ITEM 1A. | Risk Factors | 26 |
| ITEM 1B. | Unresolved Staff Comments | 40 |
| ITEM 1C. | Cybersecurity | 41 |
| ITEM 2. | Properties | 42 |
| ITEM 3. | Legal Proceedings | 42 |
| ITEM 4. | Mine Safety Disclosures | 42 |
| PART II | ||
| ITEM 5. | Market For The Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 43 |
| ITEM 6. | Reserved | 45 |
| ITEM 7. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 45 |
| ITEM 7A. | Quantitative and Qualitative Disclosures About Market Risk | 67 |
| Report of Independent Registered Public Accounting Firms (PCAOB ID 185) | 67 | |
| ITEM 8. | Financial Statements and Supplementary Data | 72 |
| Consolidated Statements of Condition as of December 31, 2025 and 2024 | 72 | |
| Consolidated Statements of (Loss) Income for the years ended December 31, 2025, 2024, and 2023 | 73 | |
| Consolidated Statements of Comprehensive (Loss) Income for the years ended December 31, 2025, 2024, and 2023 | 74 | |
| Consolidated Statements of Changes in Stockholders’ Equity for the years ended December 31, 2025, 2024, and 2023 | 75 | |
| Consolidated Statements of Cash Flows for the years ended December 31, 2025, 2024, and 2023 | 76 | |
| Notes to Consolidated Financial Statements | 77 | |
| Note 1 - Description of Business, Organization and Basis of Presentation | 77 | |
| Note 2 - Summary of Significant Accounting Policies | 78 | |
| Note 3 - Earnings per Common Share | 85 | |
| Note 4 - Accumulated Other Comprehensive Income | 85 | |
| Note 5 - Investment Securities | 86 | |
| Note 6 - Loans and Leases | 89 | |
| Note 7 - Allowance for Credit Losses | 95 | |
| Note 8 - Leases, Premises and Equipment | 96 | |
| Note 9 - Mortgage Servicing Rights | 98 | |
| Note 10 - Variable Interest Entities | 100 | |
| Note 11 - Deposits | 100 | |
| Note 12 - Borrowed Funds | 100 | |
| Note 13 - Federal, State, and Local Taxes | 103 | |
| Note 14 - Stock-Based Compensation | 106 | |
| Note 15 - Derivative and Hedging Activities | 107 | |
| Note 16 - Intangible Assets | 109 | |
| Note 17 - Capital | 110 | |
| Note 18 - Fair Value Measurement | 111 | |
| Note 19 - Mezzanine and Stockholders Equity | 116 | |
| Note 20 - Commitments and Contingencies | 117 | |
| Note 21 - Employee Benefits | 121 | |
| Note 22 - Business Combinations | 124 | |
| Note 23 - Segment Reporting | 127 | |
| ITEM 9. | Changes In and Disagreements with Accountants on Accounting and Financial Disclosures | 128 |
|---|---|---|
| ITEM 9A. | Controls and Procedures | 128 |
| ITEM 9B. | Other Information | 129 |
| ITEM 9C. | Disclosure Regarding Foreign Jurisdictions That Prevent Inspections | 130 |
| PART III | ||
| ITEM 10. | Directors, Executive Officers and Corporate Governance | 131 |
| ITEM 11. | Executive Compensation | 131 |
| ITEM 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 131 |
| ITEM 13. | Certain Relationships and Related Transactions, and Director Independence | 131 |
| ITEM 14. | Principal Accounting Fees and Services | 131 |
| PART IV | ||
| ITEM 15. | Exhibits and Financial Statement Schedules | 132 |
ABBREVIATIONS AND ACRONYMS
The following list of abbreviations and acronyms are provided as a tool for the reader and may be used throughout this Report, including the Consolidated Financial Statements and Notes:
| Term | Definition | Term | Definition |
|---|---|---|---|
| ACL | Allowance for Credit Losses | GNMA | Government National Mortgage Association |
| ADC | Acquisition, development, and construction loan | GSE | Government-sponsored enterprises |
| ALCO | Asset/Liability Committee | HELOC | Home Equity Line of Credit |
| AOCL | Accumulated Other Comprehensive Loss | HELOAN | Home Equity Loan |
| BOLI | Bank-owned life insurance | HQLAs | High-Quality Liquid Assets |
| C&I | Commercial and industrial loan | HUD | U.S. Department of Housing and Urban Development |
| CDs | Certificates of deposit | HVCRE | High volatility commercial real estate |
| CDIs | Core deposit intangibles | LGG | Loans with government guarantees |
| CFP | Contingent Funding Plan | MBS | Mortgage-backed securities |
| CMOs | Collateralized mortgage obligations | MSR | Mortgage servicing rights |
| CRE | Commercial real estate | NII | Net Interest Income |
| DFA | Dodd-Frank Wall Street Reform and Consumer Protection Act | NIM | Net interest margin |
| DSCR | Debt service coverage ratio | NVCE | Non‑Voting Common Equivalent |
| EGRRCPA | Economic Growth, Regulatory Relief, and Consumer Protection Act | NYSE | New York Stock Exchange |
| EPS | Earnings per common share | OCC | Office of the Comptroller of the Currency |
| EVE | Economic value of equity | OREO | Other real estate owned |
| EWI | Early Warning Indicators | PCD | Purchase credit deteriorated |
| Fannie Mae | Federal National Mortgage Association | PCG | Private client group |
| FDIC | Federal Deposit Insurance Corporation | PSUs | Performance-Based Restricted Stock Units |
| FHA | Federal Housing Administration | RSUs | Restricted Stock Units |
| FHLB | Federal Home Loan Bank | SEC | U.S. Securities and Exchange Commission |
| FOMC | Federal Open Market Committee | SOFR | Secured Overnight Financing Rate |
| FRB-NY | Federal Reserve Bank of New York | TDM | Troubled debt modification |
| Freddie Mac | Federal Home Loan Mortgage Corporation | VIE | Variable Interest Entity |
| GAAP | U.S. generally accepted accounting principles | ||
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