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FBC Flagstar Bancorp

Flagstar Bancorp, Inc. operates as a bank holding company. The firm engages in the provision of financial services. It operates through the following segments: Mortgage Originations, Mortgage Servicing, Community Banking, and Other. The Mortgage Originations segment acquires and markets residential mortgage loans. The Mortgage Servicing segment comprises financing solutions to properties held-for-investment. The Community Banking segment offers loans, deposits, checking and savings accounts, consumer and commercial loans, treasury management, equipment leasing, and capital markets services. The Other segment consists of interest rate risk management, investment securities portfolios, balance sheet funding, treasury and corporate assets, and equities. The company was founded in 1993 and is headquartered in Troy, MI.

Company profile

FBC stock data

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Calendar

7 May 21
13 Jun 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 480M 480M 480M 480M 480M 480M
Cash burn (monthly) 58M (positive/no burn) (positive/no burn) (positive/no burn) 106.67M 569.5M
Cash used (since last report) 140.92M n/a n/a n/a 259.17M 1.38B
Cash remaining 339.08M n/a n/a n/a 220.83M -903.7M
Runway (months of cash) 5.8 n/a n/a n/a 2.1 -1.6

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
2 Jun 21 Ciroli James Flagstar Bancorp, Inc. Common Stock Payment of exercise Dispose F No No 0 570 0 44,709
2 Jun 21 Ciroli James Flagstar Bancorp, Inc. Common Stock Option exercise Aquire M No No 0 1,993 0 45,279
2 Jun 21 Ciroli James RSU Flagstar Bancorp, Inc. Common Stock Option exercise Dispose M No No 0 1,993 0 5,977
2 Jun 21 Figliuolo Stephen V Flagstar Bancorp, Inc. Common Stock Payment of exercise Dispose F No No 0 486 0 37,972
2 Jun 21 Figliuolo Stephen V Flagstar Bancorp, Inc. Common Stock Option exercise Aquire M No No 0 1,993 0 38,458
2 Jun 21 Figliuolo Stephen V RSU Flagstar Bancorp, Inc. Common Stock Option exercise Dispose M No No 0 1,993 0 5,977
2 Jun 21 Paul D Borja Flagstar Bancorp, Inc. Common Stock Payment of exercise Dispose F No No 0 97 0 25,770
2 Jun 21 Paul D Borja Flagstar Bancorp, Inc. Common Stock Option exercise Aquire M No No 0 339 0 25,867
2 Jun 21 Paul D Borja RSU Flagstar Bancorp, Inc. Common Stock Option exercise Dispose M No No 0 339 0 1,016
2 Jun 21 Marx Bryan Flagstar Bancorp, Inc. Common Stock Payment of exercise Dispose F No No 0 115 0 10,898

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 251 226 +11.1%
Opened positions 47 60 -21.7%
Closed positions 22 24 -8.3%
Increased positions 87 96 -9.4%
Reduced positions 91 50 +82.0%
13F shares
Current Prev Q Change
Total value 2.37B 2.15B +10.4%
Total shares 52.92M 52.71M +0.4%
Total puts 30.7K 100 +30600.0%
Total calls 273.1K 130.7K +109.0%
Total put/call ratio 0.1 0.0 +14592.4%
Largest owners
Shares Value Change
BLK Blackrock 7.79M $351.47M +3.2%
Vanguard 5.74M $259.07M +7.3%
Dimensional Fund Advisors 4.08M $183.95M -2.1%
Bay Pond Partners 3.03M $123.38M 0.0%
Wellington Management 2.45M $110.59M -44.2%
STT State Street 2.32M $104.51M +62.4%
Basswood Capital Management, L.L.C. 1.69M $76.39M +18.6%
Nuveen Asset Management 1.25M $56.35M -5.8%
FMR 1.24M $55.89M +62.1%
Bayview Asset Management 1.07M $48.48M 0.0%
Largest transactions
Shares Bought/sold Change
Wellington Management 2.45M -1.94M -44.2%
STT State Street 2.32M +890.16K +62.4%
Rubric Capital Management 0 -756.41K EXIT
Norges Bank 0 -657.09K EXIT
Canada Pension Plan Investment Board 0 -545.3K EXIT
FMR 1.24M +474.97K +62.1%
Citadel Advisors 20.92K -452.4K -95.6%
Point72 Asset Management 0 -410.3K EXIT
Vanguard 5.74M +389.52K +7.3%
GS Goldman Sachs 744.02K +319.5K +75.3%

Financial report summary

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Risks
  • Economic and general conditions in the markets in which we operate may adversely affect our business.
  • We are asset sensitive, which means changes in interest rates could adversely affect our financial condition and results of operations including our net interest margin, mortgage related assets, and our investment portfolio.
  • Rising mortgage rates and adverse changes in mortgage market conditions could reduce mortgage revenue.
  • Mortgage forbearance levels and delayed foreclosures due to federal legislation could result in a decrease in service fee income and an increase in service costs.
  • We are highly dependent on the Agencies to buy mortgage loans that we originate. Changes in these entities and changes in the manner or volume of loans they purchase or their current roles could adversely affect our business, financial condition and results of operations.
  • We originate non-conforming "jumbo" residential mortgage loans for sale into either the private loan securitization market through a 144A offering or through whole loan sales. Demand for these loans or securities can change based on economic conditions which may adversely impact our ability to sell them.
  • Changes in the servicing, origination, or underwriting guidelines or criteria required by the Agencies could adversely affect our business, financial condition and results of operations.
  • Uncertainty about the future of LIBOR may adversely affect our business.
  • To effectively manage our MSR concentration risk we may have to sell our MSRs when market conditions are not optimal or hold MSRs at a level which is punitive to our Common Equity Tier 1 capital (CET1) under Basel III.
  • Our ACL could be too low to sufficiently cover future credit losses. Our estimate of expected lifetime losses is imperfect and includes a degree management judgment.
  • Concentration of loans held-for-investment in certain geographic locations and markets may increase the magnitude of potential losses should defaults occur.
  • Liquidity risk may affect our ability to meet obligations and impact our ability to grow our business.
  • We are a holding company and are, therefore, dependent on the Bank for funding of obligations.
  • We depend upon having FDIC insurance to raise deposit funding at reasonable rates. Future changes in deposit insurance premiums and special FDIC assessments could adversely affect our earnings.
  • Non-compliance with laws and regulations could result in fines, sanctions and/or operating restrictions.
  • A failure of our information technology systems could cause operational losses and damage to our reputation.
  • Our reliance on third parties to provide key components of our business infrastructure could cause operational losses or business interruptions.
  • We face operational risks due to the high volume and the high dollar value of transactions we process.
  • We may lose market share to our competitors if we are not able to respond to technological change and introduce new products and services.
  • We collect, store and transfer our customers’ and employees' personally identifiable information and other sensitive information. Any cybersecurity attack or other compromise to the security of that information, our computer systems or networks, or the systems or networks of third-party providers upon which we rely, could adversely impact our business and financial condition.
  • COVID-19 has exposed our customers and employees to health risks that has caused changes in our workplace, place of business and how our customers behave. As we have and continue to return to in-person activities we may be exposed to additional risks that could have a materially adverse impact on our operations and financial condition.
  • We may be terminated as a servicer or subservicer or incur costs, liabilities, fines and other sanctions if we fail to satisfy our servicing obligations, including our obligations with respect to mortgage loan foreclosure actions.
  • We may be required to repurchase mortgage loans, pay fees or indemnify buyers against losses.
  • We utilize third-party mortgage originators which subjects us to strategic, reputation, compliance, and operational risk.
  • New lines of business, products, or services may subject us to unknown risks.
  • We are subject to various legal or regulatory investigations and proceedings.
  • We may be required to pay interest on escrow in accordance with certain state laws despite the Federal preemption under the National Bank Act
  • Loss of certain personnel, including key members of the Corporation's management team, could adversely affect the Corporation.
Management Discussion
  • (1)Interest rate spread is the difference between the yield earned on average interest-earning assets for the period and the rate of interest paid on average interest-bearing liabilities.
  • (2) See Use of Non-GAAP Financial Measures for further information.
  • (3) Excludes goodwill, intangible assets and the associated amortization. See Non-GAAP Reconciliation for further information.
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