Flagstar Bancorp’s third-quarter earnings decline


(RTTNews) – Flagstar Bancorp, Inc. (FBC) on Wednesday reported lower third-quarter earnings from a year earlier.

The company reported quarterly profit of $73 million or $1.35 per share, compared with $152 million or $2.83 per share last year. On an adjusted basis, earnings were $75 million or $1.41 per share.

On average, 3 analysts polled by Thomson Reuters expected the company to earn $1.24 per share. Analyst estimates generally exclude special items.

Net interest income was $219 million, compared to $195 million a year ago. Non-interest revenue for the quarter decreased to $114 million from $266 million a year earlier.

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