greeksoup/ stock research
Stock research / United States / FLG · Savings Institutions, Not Federally Chartered · NYSE

Flagstar Bank, National Association (FLG)

Flagstar Bank, National Association is a national banking association headquartered in Hicksville, New York. The filing states that the bank went public in 1993 and has grown on its own and through a series of mergers and acquisitions. It reports a single segment.

Flagstar Bank, National Association

Flagstar Bank, National Association is a national banking association headquartered in Hicksville, New York. The filing states that the bank went public in 1993 and has grown on its own and through a series of mergers and acquisitions. It reports a single segment.

Reorganization

Effective October 17, 2025 the bank became the successor reporting company to Flagstar Financial, its former holding company, under an internal reorganization that eliminated the holding company structure. Flagstar Financial merged into the bank, and its common stock and Series A preferred stock were converted into an equivalent number of the bank's shares, so shareholders now own the bank directly in the same proportions as before. The bank took on Flagstar Financial's debt obligations and its equity incentive and compensation plans.

Markets

The bank operates approximately 340 locations across nine states, with a presence in the greater New York and New Jersey metropolitan region, the upper Midwest, Florida and the West Coast, plus approximately 20 private bank branches, mainly in the New York City region and on the West Coast, that serve high-net worth individuals and their businesses. The vast majority of its multi-family loans are secured by rental apartment buildings in New York City, most properties behind its commercial real estate loans are in the Northeast and Midwest, and it makes commercial and industrial loans nationally to middle-market and mid-sized companies. It sold its third-party mortgage origination and servicing businesses during 2024.

Strategy

The filing states that since 2024 the bank has been carrying out a strategic transformation plan to become a diversified, relationship-driven regional bank, including leadership additions, reducing non-core assets and improving its funding mix.

Competition

It competes for deposits with other institutions including credit unions, online banks and fintech companies, and for commercial and industrial and commercial real estate loans with the capital markets, larger financial institutions, commercial and savings banks, fintech companies and credit unions.

People

At December 31, 2025 its workforce included 5,631 employees, none of them represented by a collective bargaining agreement.

From Flagstar Bank's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name

Flagstar Bank, National Association (FLG) reported revenue of $516 million for Q2 FY2026, the quarter ended 30 June 2026, up 4.0% on the same quarter a year earlier. Net income was $34 million, and diluted earnings per share $0.06. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue$516 millionup 4.0%
Net income$34 million
Diluted EPS$0.06
QuarterQ2 FY2026ended 30 June 2026

Flagstar Bank, National Association (FLG) in brief

Flagstar Bank, National Association (FLG) reported revenue of $2.1 billion for fiscal 2025, the year ended 31 December 2025, down 19.2% on the year before.
Read moreNet loss was $177 million and the diluted loss per share $0.50. Revenue was $2.6 billion in fiscal 2024, $5.8 billion in fiscal 2023, $1.6 billion in fiscal 2022 and $1.4 billion in fiscal 2021. Net income in the same years was a loss of $1.1 billion, a loss of $79 million, $650 million and $596 million. Over the twelve months to 30 June 2026, Flagstar Bank, National Association reported revenue of $2.1 billion and net income of $48 million. Revenue grew 12.2% a year, compounded, over the five years to fiscal 2025. Flagstar Bank, National Association declared $0.04 a share in dividends over the last four quarters and had 417 million shares outstanding at the latest filed count. At the close of 8 October 2026 the market cap of Flagstar Bank, National Association was $4.7 billion, 283.8 times its earnings over the last twelve months.

Ratios

From the filings

ROE0.6%
Net margin2.3%
Debt to equity1.34
Share count, 1 year0.4%
Sales CAGR, 3 years7.9%
Profit CAGR, 3 yearsn/a
EPS, TTM$0.04

At the close of 8 October 2026

Price$11.35
Market cap$4.7 billion
Stock P/E283.75
Price to book0.58
EV / EBITDAn/a
Dividend yield0.4%
Market cap / sales2.26
52-week high$15.36
52-week low$10.72
Price, 1 year-5.1%
Price CAGR, 3 years-29.8%
Price CAGR, 5 years-22.7%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from CBOE. Debt to equity here stands on the total debt Flagstar Bank, National Association states in its own filing, with lease liabilities counted separately and never inside it. Flagstar Bank, National Association files on the bank format, which does not report a return on capital employed, an operating margin or interest cover, so those are left out here rather than shown as a blank. Free cash flow margin and cash conversion are left out too, by our choice: a bank's operating cash flow moves with its lending and deposits, so neither ratio means for a bank what it means for an operating company. Nothing here is a valuation or a view.
FLGgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from CBOE.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on FLG

Filings24 in twelve months: 13 current reports (8-K), about 6 regulation fd disclosure; 5 officer or director change; 4 results of operations; 3 other events; 2 shareholder vote
Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 0.12 by open interest at the 8 October 2026 close; the straddle prices a 5.1% move to 16 October 2026
13F holders10 of the followed funds hold it; largest Geode Capital Management; 4 Schedule 13D or 13G filings in twelve months
Insider trading1 sale and 1 purchase on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest39.8 million shares short, 10.02 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,042867633671623625490496519557498516
Interest expense630707889n/an/an/an/an/an/an/an/an/a
Pre-tax income268-2,817-381-424-335-238-121-81.0-41.045.032.048.0
Tax rate23%n/an/an/an/an/an/an/an/a36%34%29%
Net income207-2,705-327-323-280-188-100-70.0-36.029.021.034.0
Net margin20%-312%-52%-48%-45%-30%-20%-14%-7%5%4%7%
Diluted EPS$0.81-$11.55-$1.35-$1.14-$0.79n/a-$0.26-$0.19-$0.11$0.06$0.03$0.06
Operating cash flow1,054779-294796-1,039623-590355243-189-118226
Buybacks0.00.00.0n/an/an/an/an/an/an/an/an/a
Dividends paid1251228.037.03.05.04.04.04.03.05.04.0
Shares outstanding241m241m268m351m415m415m417m415m416m416m417m417m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014FY2015FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023FY2024 †FY2025TTM
Revenue1,3426191,4331,3471,1231,0421,1611,3501,6435,7642,5522,0622,090
Selling, general and administrative173171188179129120124127158n/an/an/an/a
Operating income7633.27957065765306508321,039n/an/an/an/a
Operating margin56.8%0.5%55.5%52.4%51.3%50.9%56.0%61.6%63.2%n/an/an/an/a
Interest expense5431,2843874526598486084006962,414n/an/an/a
Pre-tax income773-132777668558523588806826-50.0-1,378-19884.0
Income tax288-84.928220213512877.021017629.0-260-21.036.0
Effective tax rate37.2%n/a36.3%30.2%24.3%24.5%13.1%26.1%21.3%n/an/an/a42.9%
Net income485-47.2495466422395511596650-79.0-1,118-17748.0
Net margin36.2%-7.6%34.6%34.6%37.6%37.9%44.0%44.1%39.6%-1.4%-43.8%-8.6%2.3%
Diluted EPS$3.27-$0.33$3.03$2.70$2.37$2.31$3.06$3.60$3.78-$0.48-$3.49-$0.50$0.04
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

Follow the cashA discounted cash flow: five years of free cash flow, added up in today's moneyNot for Flagstar Bank, National Association: a bank's lending and deposits run through its operating cash flow, so its free cash flow swings with the balance sheet rather than with what the bank earns. Book value and return on equity, in the ratios above, are the usual measures for it.

FY2014FY2015FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023FY2024 †FY2025TTM
Operating cash flow722-4207561,3275405103342901,02626386.0-181162
Capital expenditure73.534.884.227.89.8n/an/a4.03.0n/an/an/an/a
Free cash flow649-4556711,299531n/an/a2861,023n/an/an/an/a
Cash from investingn/an/a1,2181,062-4,020-2,059-1,025-2,762-6,32320,67315,4532,6871,382
Cash from financingn/an/a-1,954-4182,4278161,8972,7355,168-11,409-11,589-12,088-4,535
Depreciation and amortisation27.831.532.832.832.327.024.021.018.0165184148140
Share-based compensation27.530.232.736.036.332.029.031.029.047.054.061.065.0
Buybacks7.37.08.718.516167.150.00.07.00.00.0n/an/a
Dividends paid44245433133233331731631631748653.015.016.0
Dividend per sharen/an/an/an/an/an/an/a$2.04$2.04$1.68$0.20$0.04n/a
Diluted shares, weighted147m150m162m162m162m155m154m155m162m238m331m415m474m
Shares outstanding at period end148m162m162m163m158m156m155m155m227m241m415m416m417m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023FY2024 †FY2025TTM
Funded by
Shareholders' equity5,7825,9356,1246,7956,6556,7126,8427,0448,8248,3678,1678,1438,140
Redeemable equityn/an/an/an/an/an/an/a0.00.00.01.01.01.0
Deposits28,32928,42728,88829,10230,76431,65732,43735,05958,72181,52675,87066,00067,521
Debtn/an/an/an/a295295n/an/a21,33221,26714,42612,18410,937
Operating lease liabilitiesn/an/an/an/an/a286n/an/an/an/an/an/an/a
Other liabilities14,44915,95613,91513,22714,18514,69117,02817,4241,2672,8971,6961,1841,115
Total liabilities and equity48,55950,31848,92749,12451,89953,64156,30659,52790,144114,057100,16087,51287,714
Owned
Fixed assets319322374369346313287270491652562477472
Goodwill2,4362,4362,4362,4362,4362,4262,4262,4262,4260.00.0n/an/a
Intangible assetsn/an/an/an/an/an/an/an/a287625488381333
Investmentsn/an/an/an/an/an/an/an/a9,0749,15910,416n/an/a
Securities held for sale or to maturity6,9556,0313,7283,5315,6145,8535,8135,780n/an/an/a15,70116,553
Loans32,88535,61637,22438,23040,00641,74742,69045,53968,60883,62767,07159,70260,118
Cash and equivalents5645385582,5281,4757421,9482,2112,03211,47515,4305,9775,180
Other assets5,4005,3754,6062,0302,0232,5603,1413,3017,2268,5196,1935,2745,058
Total assets48,55950,31848,92749,12451,89953,64156,30659,52790,144114,057100,16087,51287,714
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded12.8%12.2%7.9%-6.4%
Profit growth, compoundedn/an/an/an/a
Return on equity, average3.4%-0.2%-5.6%-2.2%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Banking

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Prosperity Bancshares Inc. PB$6.7 billion11.566.8%n/a13.3%0.281.7%
United Bankshares Inc. UBSI$6.2 billion12.459.3%n/a14.5%0.103.3%
FNB Corp. FNB$6.1 billion10.298.8%n/a11.8%0.292.8%
Hancock Whitney Corp. HWC$5.9 billion14.269.6%n/a-0.2%0.042.5%
Home Bancshares Inc. HOMB$5.7 billion11.7710.5%n/a7.1%0.962.8%
Glacier Bancorp, Inc. GBCI$5.6 billion17.617.2%n/a32.2%n/a3.1%
Associated Banc-Corp ASB$5.4 billion10.069.0%n/a45.6%1.013.2%
Flagstar Bank, National Association FLG$4.7 billion283.750.6%n/a-6.4%1.340.4%
First Financial Bankshares Inc. FFIN$4.5 billion16.8113.5%n/a12.4%0.452.4%
SLM Corp. SLM$4.3 billion6.3329.7%n/a11.5%2.362.3%
International Bancshares Corp. IBOC$4.3 billion10.3212.2%n/a4.0%n/a2.0%
Texas Capital Bancshares Inc. TCBI$4.0 billion12.0310.0%n/a33.1%0.14n/a
All 68 in Banking
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
JPMorgan Chase & Co. JPM$881.0 billion14.2017.4%n/a13.5%1.231.8%
Bank of America Corp. BAC$376.2 billionn/an/an/an/a1.132.1%
HSBC Holdings plc HSBC *$318.1 billion15.4410.6%41.0%3.7%n/a4.2%
Royal Bank of Canada RY *$266.9 billion19.3014.6%n/a16.1%n/an/a
Mitsubishi UFJ Financial Group Inc. MUFG *$253.7 billion23.488.8%34.1%22.6%n/a2.2%
Wells Fargo & Company WFC$248.4 billion11.9412.5%n/a6.2%1.012.1%
Citigroup Inc. C$224.1 billion13.838.4%n/a10.0%1.571.9%
American Express Co. AXP$208.0 billion18.7033.4%n/a10.7%1.661.1%
Banco Santander, S.A. SAN *$198.0 billion13.3012.5%n/a0.5%n/a1.9%
Toronto-Dominion Bank TD *$192.6 billion14.0615.6%n/a18.4%n/a2.8%
Banco Bilbao Vizcaya Argentaria, S.A. BBVA *$149.4 billion13.2117.0%43.7%4.1%n/a3.2%
Mizuho Financial Group Inc. MFG *$130.3 billion18.0610.7%n/a38.1%n/a1.9%
Capital One Financial Corp. COF$122.3 billion12.349.2%n/a45.3%0.391.5%
Bank of Montreal BMO *$113.9 billion20.029.9%n/a10.6%n/a3.2%
HDFC Bank Limited HDB *$112.9 billion15.448.6%n/a5.2%n/a2.2%
Itaú Unibanco Holding S.A. ITUB *$108.4 billionn/a21.9%n/a-0.2%n/an/a
Bank of Nova Scotia BNS *$108.3 billion22.029.0%n/a12.1%n/a3.9%
Canadian Imperial Bank of Commerce CM *$100.2 billion17.9913.1%n/a13.8%n/a2.8%
Bank of New York Mellon Corp. BNY$97.4 billion16.7214.1%n/a10.6%0.681.4%
ING Groep N.V. ING *$97.0 billion10.6815.4%n/an/an/a4.5%
Sumitomo Mitsui Financial Group, Inc. SMFG *$96.9 billion13.496.2%n/a26.1%0.583.7%
U.S. Bancorp USB$88.9 billion11.3812.1%n/a6.7%0.873.6%
PNC Financial Services Group, Inc. PNC$87.6 billion12.0911.5%n/a13.2%1.343.0%
Lloyds Banking Group plc LYG *$79.6 billion14.739.8%n/a7.9%n/a3.3%
Barclays plc BCS *$79.6 billion10.259.2%n/a8.8%n/a2.1%
Nu Holdings Ltd. NU *$74.7 billion26.3125.4%n/a37.0%0.39n/a
NatWest Group plc NWG *$70.5 billion9.6112.9%n/a13.2%n/a4.4%
Truist Financial Corp. TFC$56.4 billion10.578.6%n/a4.1%0.674.5%
State Street Corp. STT$48.1 billion15.4512.2%n/a12.3%0.911.8%
Fifth Third Bancorp FITB$46.0 billion17.366.8%n/a23.8%0.513.0%
Coinbase Global, Inc. COIN$45.4 billionn/a-7.6%9.9%-10.4%0.45n/a
Banco Bradesco S.A. BBD *$44.8 billionn/a13.3%n/an/a0.224.7%
KB Financial Group Inc. KB *$43.8 billion10.769.9%47.5%5.4%n/a2.1%
ORIX Corporation IX *$41.2 billionn/a10.0%13.7%15.9%n/a2.8%
Shinhan Financial Group Co. Ltd. SHG *$36.0 billion10.348.6%n/an/a0.962.5%
M&T Bank Corp. MTB$31.4 billion11.5210.9%n/a5.8%0.492.6%
Huntington Bancshares Inc. HBAN$31.1 billion11.917.4%n/a26.4%0.574.0%
Northern Trust Corp. NTRS$30.8 billion14.4016.7%n/a15.1%n/a1.8%
Citizens Financial Group Inc. CFG$27.1 billion13.908.1%n/a11.0%0.582.7%
Synchrony Financial SYF$24.0 billion7.5520.8%n/a0.3%0.971.6%
Regions Financial Corp. RF$23.1 billion11.0511.8%n/a4.4%0.253.8%
Keycorp KEY$21.4 billion11.6910.3%n/a51.6%0.554.1%
East West Bancorp Inc. EWBC$17.3 billion12.1415.6%n/a13.7%0.001.9%
Pinnacle Financial Partners, Inc. PNFP$14.3 billion14.075.2%n/an/a0.411.6%
Ally Financial Inc. ALLY$11.5 billion8.889.4%n/a11.5%1.103.2%
First Horizon Corp. FHN$11.0 billion11.1511.5%n/a10.3%n/a2.6%
UMB Financial Corp. UMBF$9.9 billion10.8611.7%n/a39.3%0.061.3%
SouthState Bank Corp. SSB$9.8 billion10.5810.4%n/a25.2%0.052.3%
Wintrust Financial Corp. WTFC$9.7 billion11.5812.0%n/a11.5%0.001.4%
Cullen/Frost Bankers, Inc. CFR$9.5 billion14.4014.8%n/a7.4%n/a2.6%
OLD National Bancorp ONB$9.5 billion10.9910.3%n/a34.1%0.602.3%
Zions Bancorporation, National Association ZION$9.2 billion7.9915.2%n/a-64.1%0.252.8%
Western Alliance Bancorporation WAL$8.2 billion8.5012.5%n/a19.7%0.192.2%
Columbia Banking System, Inc. COLB$8.1 billion11.379.4%n/a33.6%n/a5.2%
Valley National Bancorp VLY$7.0 billion10.818.8%n/a12.2%0.493.5%
Prosperity Bancshares Inc. PB$6.7 billion11.566.8%n/a13.3%0.281.7%
United Bankshares Inc. UBSI$6.2 billion12.459.3%n/a14.5%0.103.3%
FNB Corp. FNB$6.1 billion10.298.8%n/a11.8%0.292.8%
Hancock Whitney Corp. HWC$5.9 billion14.269.6%n/a-0.2%0.042.5%
Home Bancshares Inc. HOMB$5.7 billion11.7710.5%n/a7.1%0.962.8%
Glacier Bancorp, Inc. GBCI$5.6 billion17.617.2%n/a32.2%n/a3.1%
Associated Banc-Corp ASB$5.4 billion10.069.0%n/a45.6%1.013.2%
Flagstar Bank, National Association FLG$4.7 billion283.750.6%n/a-6.4%1.340.4%
First Financial Bankshares Inc. FFIN$4.5 billion16.8113.5%n/a12.4%0.452.4%
SLM Corp. SLM$4.3 billion6.3329.7%n/a11.5%2.362.3%
International Bancshares Corp. IBOC$4.3 billion10.3212.2%n/a4.0%n/a2.0%
Texas Capital Bancshares Inc. TCBI$4.0 billion12.0310.0%n/a33.1%0.14n/a
Euronet Worldwide, Inc. EEFT$2.4 billion9.9923.4%11.5%5.8%2.16n/a
No other company here shares its SEC industry code (Savings Institutions, Not Federally Chartered); these are the names nearest in size in its wider industry, Banking, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20266 August 2026EDGAR
10-Q31 March 20267 May 2026EDGAR
10-K31 December 202527 February 2026EDGAR
10-Q30 September 20256 November 2025EDGAR
10-Q30 June 20257 August 2025EDGAR
10-Q31 March 20259 May 2025EDGAR
10-K31 December 20244 March 2025EDGAR
10-Q30 September 20248 November 2024EDGAR
10-Q30 June 20249 August 2024EDGAR
10-Q31 March 202410 May 2024EDGAR

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install