FLAGSTAR BANK, NATIONAL ASSOCIATION
For the period ended Sep 30, 2026. Filed Nov 6, 2026.
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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.
Sep 30, 2026 · Filed Nov 6, 2026
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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Item 1. Condensed Consolidated Financial Statements
| Table of Contents | Flagstar Bank, National Association |
|---|---|
| Condensed Consolidated Statements of Condition (unaudited) | |
| ITEM 1. | FINANCIAL STATEMENTS |
|---|
| (in millions, except per share data) | September 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS: | ||
| Cash and due from banks | $382 | $553 |
| Interest-earning deposits and other securities with financial institutions | 3,664 | 5,341 |
| Debt securities available-for-sale | 16,395 | 15,701 |
| Equity investments with readily determinable fair values, at fair value | 14 | 65 |
| Loans held for sale | 166 | 265 |
| Loans and leases held for investment, net of deferred loan fees and costs | 61,945 | 60,732 |
| Less: Allowance for credit losses on loans and leases | (869) | (1,030) |
| Total loans and leases held for investment, net | 61,076 | 59,702 |
| Premises and equipment, net | 474 | 477 |
| Core deposit and other intangibles | 310 | 381 |
| Other assets | 4,931 | 5,027 |
| Total assets | $87,412 | $87,512 |
| LIABILITIES AND STOCKHOLDERS' EQUITY: | ||
| Deposits: | ||
| Interest-bearing checking and money market accounts | $19,330 | $18,233 |
| Savings accounts | 14,741 | 14,864 |
| Certificates of deposit | 21,359 | 20,843 |
| Non-interest-bearing accounts | 12,390 | 12,060 |
| Total deposits | 67,820 | 66,000 |
| Borrowed funds | 10,937 | 12,184 |
| Other liabilities | 1,010 | 1,184 |
| Total liabilities | 79,767 | 79,368 |
| Commitments 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; 423,470,219 and 422,931,277shares issued; and 400,635,645 and 415,982,036 shares outstanding, respectively) | 4 | 4 |
| Paid-in capital in excess of par | 9,311 | 9,303 |
| Accumulated deficit | (958) | (988) |
| Treasury stock, at cost (22,834,574 and 6,949,241 shares, respectively) | (377) | (190) |
| Accumulated other comprehensive loss, net of tax | (839) | (489) |
| Total stockholders’ equity | 7,644 | 8,143 |
| Total liabilities, mezzanine and stockholders’ equity | $87,412 | $87,512 |
| Table of Contents | Flagstar Bank, National Association |
|---|---|
| Condensed Consolidated Statements of Income (Loss) (unaudited) | |
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| (in millions, except per share data) | 2026 | 2025 | 2026 | 2025 |
| INTEREST INCOME: | ||||
| Loans and leases | $780 | $819 | $2,285 | $2,519 |
| Securities and money market investments | 232 | 282 | 687 | 889 |
| Total interest income | 1,012 | 1,101 | 2,972 | 3,408 |
| INTEREST EXPENSE: | ||||
| Interest-bearing checking and money market accounts | 140 | 151 | 380 | 480 |
| Savings accounts | 94 | 113 | 292 | 334 |
| Certificates of deposit | 201 | 255 | 605 | 850 |
| Borrowed funds | 117 | 157 | 352 | 490 |
| Total interest expense | 552 | 676 | 1,629 | 2,154 |
| Net interest income | 460 | 425 | 1,343 | 1,254 |
| Provision for credit losses | 76 | 38 | 94 | 181 |
| Net interest income after provision for credit losses | 384 | 387 | 1,249 | 1,073 |
| NON-INTEREST INCOME: | ||||
| Fee income | 29 | 23 | 78 | 67 |
| Bank-owned life insurance | 11 | 12 | 34 | 32 |
| Net gain (loss) on investment securities | — | 22 | (5) | 22 |
| Net gain on loan sales and securitizations | 3 | 5 | 12 | 24 |
| Net loan administration income | — | — | 1 | 5 |
| Other | 27 | 32 | 81 | 101 |
| Total non-interest income | 70 | 94 | 201 | 251 |
| NON-INTEREST EXPENSE: | ||||
| Operating expenses: | ||||
| Compensation and benefits | 228 | 242 | 676 | 723 |
| Occupancy and equipment | 46 | 47 | 142 | 155 |
| Software expense | 50 | 47 | 146 | 127 |
| FDIC insurance | 29 | 37 | 89 | 136 |
| Professional services | 23 | 20 | 64 | 69 |
| General and administrative | 65 | 86 | 192 | 237 |
| Total operating expense | 441 | 479 | 1,309 | 1,447 |
| Intangible asset amortization | 23 | 26 | 71 | 81 |
| Merger-related expense | — | 17 | — | 39 |
| Total non-interest expense | 464 | 522 | 1,380 | 1,567 |
| Income (loss) before income taxes | (10) | (41) | 70 | (243) |
| Income tax (benefit) expense | (22) | (5) | 3 | (37) |
| Net income (loss) | $12 | $(36) | $67 | $(206) |
| Preferred stock dividends | 9 | 9 | 25 | 25 |
| Net income (loss) attributable to common stockholders | $3 | $(45) | $42 | $(231) |
| Basic earnings (loss) per common share | $0.01 | $(0.11) | $0.10 | $(0.56) |
| Diluted earnings (loss) per common share | $0.01 | $(0.11) | $0.09 | $(0.56) |
| Table of Contents | Flagstar Bank, National Association |
|---|---|
| Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited) | |
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| (in millions) | 2026 | 2025 | 2026 | 2025 |
| Net income (loss) | $12 | $(36) | $67 | $(206) |
| Other comprehensive (loss) income, net of tax: | ||||
| Net unrealized gain (loss) on securities available-for-sale | (292) | 50 | (350) | 159 |
| Net unrealized gain (loss) in pension and post-retirement obligations | — | 1 | — | 2 |
| Net unrealized gain (loss) on cash flow hedges | — | (4) | — | (16) |
| Total other comprehensive (loss) income, net of tax | $(292) | $47 | $(350) | $145 |
| Total comprehensive income (loss), net of tax | $(280) | $11 | $(283) | $(61) |
| Income tax (benefit) expense of items included in other comprehensive income: | ||||
| Net unrealized gain (loss) on securities available-for-sale | $(105) | $18 | $(126) | $56 |
| Net unrealized gain (loss) in pension and post-retirement obligations | — | — | — | 1 |
| Net unrealized gain (loss) on cash flow hedges | — | (2) | — | (6) |
| Table of Contents | Flagstar Bank, National Association |
|---|---|
| Condensed Consolidated Statements of Stockholders' Equity (unaudited) | |
| (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 June 30, 2026 | 417,018,972 | $503 | $4 | $9,299 | $(958) | $(161) | $(547) | $8,140 | $1 |
| Shares issued for restricted stock, net of forfeitures | 320,473 | — | — | (7) | — | 5 | — | (2) | — |
| Compensation expense related to restricted stock awards | — | — | — | 19 | — | — | — | 19 | — |
| Net income | — | — | — | — | 12 | — | — | 12 | — |
| Dividends paid on common stock ($0.01) | — | — | — | — | (3) | — | — | (3) | — |
| Dividends paid on preferred stock ($15.94), Series B ($3.33) | — | — | — | — | (9) | — | — | (9) | — |
| Purchase of common stock | (16,703,800) | — | — | — | — | (221) | — | (221) | — |
| Other comprehensive loss, net of tax | — | — | — | — | — | — | (292) | (292) | — |
| Balance at September 30, 2026 | 400,635,645 | $503 | $4 | $9,311 | $(958) | $(377) | $(839) | $7,644 | $1 |
| Balance at June 30, 2025 | 415,353,394 | $503 | $4 | $9,291 | $(957) | $(204) | $(542) | $8,095 | $1 |
| Shares issued for restricted stock, net of forfeitures | 408,579 | — | — | (8) | — | 8 | — | — | — |
| Compensation expense related to restricted stock awards | — | — | — | 17 | — | — | — | 17 | — |
| Net loss | — | — | — | — | (36) | — | — | (36) | — |
| Dividends paid on common stock ($0.01) | — | — | — | — | (4) | — | — | (4) | — |
| Dividends paid on preferred stock ($15.94), Series B ($3.33) | — | — | — | — | (9) | — | — | (9) | — |
| Purchase of common stock | (153,828) | — | — | — | — | (2) | — | (2) | — |
| Other comprehensive income, net of tax | — | — | — | — | — | — | 47 | 47 | — |
| Balance at September 30, 2025 | 415,608,145 | $503 | $4 | $9,300 | $(1,006) | $(198) | $(495) | $8,108 | $1 |
| (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 | 2,097,737 | — | — | (44) | — | 44 | — | — | — |
| Compensation expense related to restricted stock awards | — | — | — | 52 | — | — | — | 52 | — |
| Net income | — | — | — | — | 67 | — | — | 67 | — |
| Dividends paid on common stock ($0.03) | — | — | — | — | (12) | — | — | (12) | — |
| Dividends paid on preferred stock Series A ($47.82), Series B ($9.99) | — | — | — | — | (25) | — | — | (25) | — |
| Purchase of common stock | (17,444,128) | — | — | — | — | (231) | — | (231) | — |
| Other comprehensive loss, net of tax | — | — | — | — | — | — | (350) | (350) | — |
| Balance at September 30, 2026 | 400,635,645 | $503 | $4 | $9,311 | $(958) | $(377) | $(839) | $7,644 | $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 | 1,368,201 | — | — | (28) | — | 28 | — | — | — |
| Compensation expense related to restricted stock awards | — | — | — | 46 | — | — | — | 46 | — |
| Net loss | — | — | — | — | (206) | — | — | (206) | — |
| Dividends paid on common stock ($0.03) | — | — | — | — | (12) | — | — | (12) | — |
| Dividends paid on preferred stock Series A ($47.82), Series B ($9.99) | — | — | — | — | (25) | — | — | (25) | — |
| Purchase of common stock | (694,684) | — | — | — | — | (7) | — | (7) | — |
| Other comprehensive income, net of tax | — | — | — | — | — | — | 145 | 145 | — |
| Balance at September 30, 2025 | 415,608,145 | $503 | $4 | $9,300 | $(1,006) | $(198) | $(495) | $8,108 | $1 |
| Table of Contents | Flagstar Bank, National Association |
|---|---|
| Condensed Consolidated Statements of Cash Flows (unaudited) | |
| Nine Months Ended September 30, | ||
|---|---|---|
| (in millions) | 2026 | 2025 |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income (loss) | $67 | $(206) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Provision for credit losses | 94 | 181 |
| Depreciation and amortization | 100 | 113 |
| Stock-based compensation | 52 | 46 |
| Deferred tax expense (benefit) | 33 | (97) |
| Other operating activities | (115) | 34 |
| Changes in operating assets and liabilities: | ||
| (Increase) decrease in other miscellaneous assets | (118) | 115 |
| Decrease in other miscellaneous liabilities | (63) | (542) |
| Change in loans held for sale, net | 53 | 364 |
| Net cash provided by operating activities | 103 | 8 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Proceeds from repayment of securities available-for-sale | 2,978 | 1,494 |
| Proceeds from sales of securities available-for-sale including loans that have been securitized | — | 85 |
| Purchase of securities available-for-sale | (4,195) | (5,994) |
| Redemption of Federal Home Loan Bank stock | 362 | 131 |
| Purchases of Federal Home Loan Bank and Federal Reserve Bank stock | (259) | (3) |
| Other changes in loans, net | (1,186) | 5,219 |
| Purchases of premises and equipment | (67) | (29) |
| Proceeds from sales of equity securities | 46 | — |
| Other investing activities | 44 | 18 |
| Net cash (used in) provided by investing activities | (2,277) | 921 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Net increase (decrease) in deposits | 1,820 | (6,727) |
| Net increase (decrease) in short-term borrowed funds | 1,250 | (250) |
| Proceeds from long-term borrowed funds | 1,750 | 500 |
| Repayments of long-term borrowed funds | (4,250) | (1,500) |
| Cash dividends paid on common stock | (12) | (12) |
| Cash dividends paid on preferred stock | (25) | (25) |
| Shares repurchased under stock repurchase program | (214) | — |
| Other financing activities, net | (10) | 85 |
| Net cash provided by (used in) financing activities | 309 | (7,929) |
| Net decrease in cash, cash equivalents, and restricted cash | (1,865) | (7,000) |
| Cash, cash equivalents, and restricted cash at beginning of period | 5,977 | 15,559 |
| Cash, cash equivalents, and restricted cash at end of period | $4,112 | $8,559 |
| Supplemental information: | ||
| Cash paid for interest | $1,620 | $2,254 |
| Non-cash investing and financing activities: | ||
| Transfer of loans from held for investment to held for sale | — | 590 |
| Transfer of loans from held for sale to held for investment | 29 | — |
| Shares issued for restricted stock awards | 44 | 28 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.