FLAGSTAR BANK, NATIONAL ASSOCIATION

For the period ended Mar 31, 2026. Filed May 7, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 7, 2026

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

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Contents

Item 1. Condensed Consolidated Financial Statements

Condensed Consolidated Statement of Condition (unaudited)
Table of Contents	Flagstar Bank, National Association

ITEM 1.	FINANCIAL STATEMENTS

	March 31, 2026	December 31, 2025
(in millions, except per share data) · (unaudited)
ASSETS:
Cash and due from banks	$401	$553
Interest-earning deposits and other securities with financial institutions	6,605	5,341
Debt securities available-for-sale	14,514	15,701
Equity investments with readily determinable fair values, at fair value	56	65
Loans held for sale	233	265
Loans and leases held for investment, net of deferred loan fees and costs	60,425	60,732
Less: Allowance for credit losses on loans and leases	(954)	(1,030)
Total loans and leases held for investment, net	59,471	59,702
Premises and equipment, net	474	477
Core deposit and other intangibles	356	381
Other assets	5,019	5,027
Total assets	$87,129	$87,512
LIABILITIES AND STOCKHOLDERS' EQUITY:
Deposits:
Interest-bearing checking and money market accounts	$19,310	$18,233
Savings accounts	15,005	14,864
Certificates of deposit	20,719	20,843
Non-interest-bearing accounts	11,798	12,060
Total deposits	66,832	66,000
Borrowed funds	11,186	12,184
Other liabilities	990	1,184
Total liabilities	79,008	79,368
Commitment and contingencies (refer to Note 17)
Mezzanine equity:
Preferred stock - Series B	1	1
Stockholders' equity:
Preferred stock - Series A and D	503	503
Common stock at par $0.01 (916,666,666 and 916,666,666 shares authorized; 423,246,169 and 422,931,277shares issued; and 416,777,393 and 415,982,036 shares outstanding, respectively)	4	4
Paid-in capital in excess of par	9,288	9,303
Accumulated deficit	(980)	(988)
Treasury stock, at cost (6,468,776 and 6,949,241 shares, respectively)	(167)	(190)
Accumulated other comprehensive loss, net of tax	(528)	(489)
Total stockholders’ equity	8,120	8,143
Total liabilities, mezzanine and stockholders’ equity	$87,129	$87,512

Condensed Consolidated Statement of Income (Loss) (unaudited)
Table of Contents	Flagstar Bank, National Association

	Three Months Ended March 31,
(in millions, except per share data)	2026	2025
INTEREST INCOME:
Loans and leases	$754	$860
Securities and money market investments	230	304
Total interest income	984	1,164
INTEREST EXPENSE:
Interest-bearing checking and money market accounts	114	167
Savings accounts	101	111
Certificates of deposit	203	308
Borrowed funds	123	168
Total interest expense	541	754
Net interest income	443	410
Provision for credit losses	—	79
Net interest income after provision for credit losses	443	331
NON-INTEREST INCOME:
Fee income	23	22
Bank-owned life insurance	10	10
Net (loss) gain on investment securities	(9)	—
Net gain on loan sales and securitizations	5	13
Net loan administration income	—	4
Other	26	31
Total non-interest income	55	80
NON-INTEREST EXPENSE:
Operating expenses:
Compensation and benefits	228	244
Occupancy and equipment	50	55
Software expense	47	42
FDIC insurance	30	50
Professional services	22	26
General and administrative	64	79
Total operating expense	441	496
Intangible asset amortization	25	28
Merger-related expense	—	8
Total non-interest expense	466	532
Income (loss) before income taxes	32	(121)
Income tax expense (benefit)	11	(21)
Net income (loss)	$21	$(100)
Preferred stock dividends	8	8
Net income (loss) attributable to common stockholders	$13	$(108)
Basic earnings (loss) per common share	$0.03	$(0.26)
Diluted earnings (loss) per common share	$0.03	$(0.26)

Condensed Consolidated Statement of Comprehensive Income (Loss) (unaudited)
Table of Contents	Flagstar Bank, National Association

	Three Months Ended March 31,
(in millions)	2026	2025
Net income (loss)	$21	$(100)
Other comprehensive (loss) income, net of tax:
Net unrealized gain (loss) on securities available-for-sale	(39)	93
Net unrealized gain (loss) in pension and post-retirement obligations	—	1
Net unrealized gain (loss) on cash flow hedges	—	(7)
Total other comprehensive (loss) income, net of tax	$(39)	$87
Total comprehensive income (loss), net of tax	$(18)	$(13)
Income tax expense (benefit) of items included in other comprehensive income:
Net unrealized gain (loss) on securities available-for-sale	$(14)	$33
Net unrealized gain (loss) in pension and post-retirement obligations	—	—
Net unrealized gain (loss) on cash flow hedges	—	(2)

See accompanying notes to the condensed consolidated financial statements

Condensed Consolidated Statement of Stockholders' Equity (unaudited)
Table of Contents	Flagstar Bank, National Association

(in millions, except share data)	Shares Outstanding	Preferred Stock A (Par Value: $0.01)	Common Stock (Par Value: $0.01)	Paid-in Capital in excess of Par	Accumulated deficit	Treasury Stock, at Cost	AOCL, Net of Tax	Total Stockholders’ Equity	Preferred Stock Mezzanine (Par Value: $0.01)
Balance at December 31, 2025	415,982,036	$503	$4	$9,303	$(988)	$(190)	$(489)	$8,143	$1
Shares issued for restricted stock, net of forfeitures	1,400,769	—	—	(29)	—	29	—	—	—
Compensation expense related to restricted stock awards	—	—	—	14	—	—	—	14	—
Net income	—	—	—	—	21	—	—	21	—
Dividends paid on common stock ($0.01)	—	—	—	—	(5)	—	—	(5)	—
Dividends paid on preferred stock ($15.94), Series B ($3.33)	—	—	—	—	(8)	—	—	(8)	—
Purchase of common stock	(605,412)	—	—	—	—	(6)	—	(6)	—
Other comprehensive income (loss), net of tax	—	—	—	—	—	—	(39)	(39)	—
Balance at March 31, 2026	416,777,393	$503	$4	$9,288	$(980)	$(167)	$(528)	$8,120	$1
Balance at December 31, 2024	414,934,628	$503	$4	$9,282	$(763)	$(219)	$(640)	$8,167	$1
Shares issued for restricted stock, net of forfeitures	463,831	—	—	(11)	—	11	—	—	—
Compensation expense related to restricted stock awards	—	—	—	15	—	—	—	15	—
Net (loss)	—	—	—	—	(100)	—	—	(100)	—
Dividends paid on common stock ($0.01)	—	—	—	—	(4)	—	—	(4)	—
Dividends paid on preferred stock ($15.94), Series B ($3.33)	—	—	—	—	(8)	—	—	(8)	—
Purchase of common stock	(376,569)	—	—	—	—	(4)	—	(4)	—
Other comprehensive income, net of tax	—	—	—	—	—	—	87	87	—
Balance at March 31, 2025	415,021,890	$503	$4	$9,286	$(875)	$(212)	$(553)	$8,153	$1

Condensed Consolidated Statement of Cash Flows (unaudited)
Table of Contents	Flagstar Bank, National Association

	Three Months Ended March 31,
(in millions)	2026	2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$21	$(100)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Provision for credit losses	—	79
Depreciation and amortization	35	39
Stock-based compensation	14	15
Deferred tax expense (benefit)	46	(26)
Other operating activities	(35)	19
Changes in operating assets and liabilities:
Increase in other miscellaneous assets	(7)	(85)
Decrease in other miscellaneous liabilities	(207)	(641)
Change in loans held for sale, net	15	110
Net cash used in operating activities	(118)	(590)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from repayment of securities available-for-sale	1,125	375
Proceeds from sales of securities available-for-sale including loans that have been securitized	—	271
Purchase of securities available-for-sale	—	(2,669)
Redemption of Federal Home Loan Bank stock	90	86
Purchases of Federal Home Loan Bank and Federal Reserve Bank stock	(75)	(1)
Other changes in loans, net	285	1,525
Purchases of premises and equipment	(20)	(12)
Other investing activities	9	—
Net cash provided by (used in) investing activities	1,414	(425)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase (decrease) in deposits	832	(1,967)
Net decrease in short-term borrowed funds	(1,500)	(250)
Proceeds from long-term borrowed funds	1,500	—
Repayments of long-term borrowed funds	(1,000)	—
Cash dividends paid on common stock	(5)	(4)
Cash dividends paid on preferred stock	(8)	(8)
Other financing activities, net	(7)	332
Net cash used in financing activities	(188)	(1,897)
Net increase (decrease) in cash, cash equivalents, and restricted cash	1,108	(2,912)
Cash, cash equivalents, and restricted cash at beginning of period	5,977	15,559
Cash, cash equivalents, and restricted cash at end of period	$7,085	$12,647
Supplemental information:
Cash paid for interest	$558	$817
Non-cash investing and financing activities:
Securitization of loans to mortgage-backed securities available-for-sale	—	271
Transfer of loans from held for investment to held for sale	—	273
Shares issued for restricted stock awards	29	11

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