HICKSVILLE, N.Y. (AP) — HICKSVILLE, N.Y. (AP) — Flagstar Bank, National Association (FLG) on Friday reported fourth-quarter profit of $29 million.
The Hicksville, New York-based bank said it had earnings of 5 cents per share. Earnings, adjusted for one-time gains and costs, were 6 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The bank holding company posted revenue of $1.15 billion in the period. Its revenue net of interest expense was $557 million, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $534.1 million.
For the year, the company reported profit of $177 million, or 50 cents per share. Revenue was reported as $2.06 billion.
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