Flagstar Bancorp: Q2 Earnings Snapshot

July 27, 2022 GMT

TROY, Mich. (AP) _ Flagstar Bancorp Inc. (FBC) on Wednesday reported second-quarter net income of $60 million.

The Troy, Michigan-based company said it had net income of $1.12 per share. Earnings, adjusted for non-recurring costs, came to $1.17 per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.

The holding company for Flagstar Bank posted revenue of $340 million in the period. Its adjusted revenue was $324 million, which missed Street forecasts. Three analysts surveyed by Zacks expected $346.7 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FBC at https://www.zacks.com/ap/FBC