Oct 23, 6:03 AM ET
Flagstar Bank reported third quarter 2026 net income attributable to common stockholders of $3 million, or $0.01 per diluted share, down from $26 million, or $0.06, in the second quarter but up from a $45 million loss in the third quarter of 2025. The quarter included a $22 million income tax benefit from a federal tax audit settlement, while the provision for credit losses rose $58 million to $76 million, and management said full achievement of its long-term strategic objectives has shifted to 2028 from 2027.
- Total revenues rose 3% to $530 million from $516 million in the second quarter, and net interest income rose 5% to $460 million
- Provision for credit losses increased $58 million to $76 million, mainly reflecting net charge-offs of $74 million
- A $22 million income tax benefit from the settlement of a 2019-2021 federal tax audit helped results
- Management moved the full realization of its long-term strategic objectives to 2028 from 2027, citing a higher-for-longer interest rate environment
Read the filing on SEC.gov ↗
Jul 24, 6:08 AM ET
Flagstar Bank, N.A. reported second-quarter 2026 net income attributable to common stockholders of $26 million, or $0.06 per diluted share, up from $13 million, or $0.03, in the first quarter and from a net loss of $78 million in the year-ago quarter. The board also authorized a repurchase of up to $250 million of common stock over the next 12 months, which the company says reflects its excess capital.
- Adjusted net income attributable to common stockholders was $23 million, or $0.05 per diluted share, excluding a $4 million gain on the Figure Investment.
- Pre-provision net revenue was $66 million, up $34 million from the first quarter; operating expenses fell 3% to $427 million.
- Total deposits rose $689 million in the quarter, and the CET1 capital ratio was 13.16% at June 30, 2026.
- Repurchases may be made in the open market or in privately negotiated deals, and the program can be modified, suspended, or discontinued at any time.
Read the filing on SEC.gov ↗
Jun 11, 4:03 PM ET
At the June 9, 2026 annual meeting, Flagstar Bank shareholders elected eight directors to one-year terms, ratified KPMG LLP as auditor for 2026, approved executive pay on a non-binding basis, and approved a 12,000,000-share increase to the 2020 Omnibus Incentive Plan. The share increase raises the number of shares reserved for issuance under the plan, and the pay vote drew 60,772,773 votes against.
- Eight directors were elected to one-year terms, including Joseph Otting, Steven T. Mnuchin and Jennifer R. Whip.
- The Incentive Plan amendment passed with 274,608,504 votes for and 48,478,199 against.
- The non-binding pay vote passed with 262,444,105 votes for and 60,772,773 against.
- KPMG LLP was ratified as auditor for the fiscal year ending December 31, 2026, with 369,716,004 votes for.
Read the filing on SEC.gov ↗
May 18, 5:00 PM ET
Flagstar Bank, N.A. (NYSE: FLG) effective May 18, 2026 reorganized its senior executive roles, with Richard Raffetto and Lee Smith named Co-Presidents and Co-Chief Operating Officers and Bao Nguyen named Chief Legal Officer. The Bank also amended Chairman and CEO Joseph Otting's employment agreement, extending its term to March 6, 2028, with a $10 million restricted stock unit award and higher pay terms, which shareholders may track in future proxy and compensation disclosures.
- Joseph Otting's employment agreement as Executive Chairman and CEO runs through March 6, 2028; he gives up the title of President.
- Otting's base salary rises to $1.4 million effective March 6, 2027, with target annual bonuses of $2.25 million for 2026 and $2.5 million for 2027.
- Otting receives a restricted stock unit award with a grant date fair value of $10 million on May 18, 2026, vesting quarterly from March 6, 2027 through March 6, 2028.
- Raffetto and Smith take on expanded roles; Raffetto becomes Chief Banking Officer and Smith remains CFO with added oversight of HR, IT and operations.
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.