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FLAGSTAR BANCORP INC

investors.flagstar.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2022 10-Q, filed Nov 8, 2022. Its latest SEC filing is a SC 13G/A from Feb 10, 2023.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Provides commercial and consumer banking, mortgage loans and mortgage servicing to consumers, businesses, and government customers.

How Did They Make Money?

Depositors pay fees for services such as outgoing wires, overdrafts, stop payments and ATM use; fees are earned when the service is performed. The bank also earns interchange fees when customers use its debit cards.

FY2021 revenue

Who Were Their Customers?

The bank serves consumers, businesses, mortgage lenders and government customers through its banking groups; mortgage loans are originated through brokers, correspondents and its own loan officers.

Did Revenues Turn Into Profits?

Yes. Its net income in FY2021 was larger than its revenue.

Net income, FY2021
1240% of revenue
▼ −1% vs FY2020 ($538M, 1312%)

How Were They Changing?

Since the FY2021 annual report
Latest quarter: Q3 FY2022, the three months to Sep 30, 2022
Revenue
vs $0 in Q3 FY2021
Net income
▼ −52%
vs $152M in Q3 FY2021
  • Dec 1, 2022 Flagstar merged into New York Community Bancorp Flagstar ceased to exist as a separate entity, and its shareholders received New York Community Bancorp shares under the merger terms.

Grew. Revenue grew 2.0x in 4 years, from $21M in FY2017 to $43M in FY2021, about 20% a year.

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