Flagstar Bank reported a second-quarter net income of $26 million, swinging from a loss of $78 million a year earlier. Earnings per share were $0.01, unchanged from the prior year. Adjusted net income was $23 million, compared with a loss of $60 million, and adjusted earnings per share were $0.05 versus a loss per share of $0.14. Interest income declined to $976 million from $1.14 billion, while non-interest income edged down to $76 million from $77 million. Shares fell 1.36% to $14.50 in pre-market trading on the New York Stock Exchange.
Flagstar Financial, Inc.Reported Q2 profit swing but shares fell 1.36% in pre-market, likely due to unchanged EPS and declining interest income.