Flagstar Bank, National Association 8-K, filed Oct 23, 2026

Flagstar Bank, National Association (FLG)

8-K 2026-10-23 For: 2026-10-23

Added on October 23, 2026

About this 8-K

Flagstar Bank, National Association filed this 8-K on October 23, 2026.

Flagstar Bank reported third quarter 2026 net income of $12 million and common-stockholder income of $3 million, or $0.01 per diluted share; net interest income rose $20 million to $460 million, loans increased $958 million to $61.9 billion, and CET1 was 12.38%. AI summary

Items reported

Item 2.02: Financial results
Item 7.01: Regulation FD disclosure
Item 9.01: Financial statements and exhibits

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102 Duffy Avenue,	Hicksville,	New York	11801
(Address of principal executive offices)


Exhibit						Description of Exhibit
No.
99.1						Press release regarding Results of Operations and Financial Condition issued by the Bank on October 23, 2026
99.2						Written presentation to be distributed and made available to investors, and posted on the Bank's website, beginning October 23, 2026
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).



Date:	October 23, 2026	FLAGSTAR BANK, NATIONAL ASSOCIATION

		/s/ Salvatore DiMartino
		Salvatore DiMartino
		Executive Vice President and Director of Investor Relations


Third Quarter 2026 Compared to Second Quarter 2026


Profitability						Capital
•PPNR of $66 million was unchanged •Adjusted PPNR of $66 million, up $4 million or 6% •Net interest income rose $20 million or 5% to $460 million •Net interest margin increased 4 basis points to 2.17% •Deposit costs increased 1 basis point while overall cost of funds rose 2 basis points •Operating expenses of $441 million up 3%						•CET1 capital ratio of 12.38%, at or above peer group levels •Excess capital of $1.2 billion, using low end of target CET1 range of 10.5% •Book value per share of $17.82 •Tangible book value per share of $17.05 •Tangible book value per share adjusted for warrant exercise is $15.56

Balance Sheet						Asset Quality
•Total C&I loans increased $2.0 billion or 11% to $20.6 billion •Total loans increased $958 million to $61.9 billion, up 2% or 6% annualized •Strategic C&I loan focus areas grew $1.6 billion or 18% •Commercial Bank deposits grew $575 million, up 7% •Total MF/CRE loans declined $1.1 billion or 3%						•Total NYC multi-family loans declined $531 million or 4% •Total ACL of $0.9 billion, unchanged, and was 1.50% of total loans HFI: •Total multi-family ACL coverage of 1.63% •ACL coverage of 2.97% for multi-family loans with 50% or greater rent-regulated units •Non-accrual loans were relatively stable •Substandard loans increased $248 million or 4% as overall Criticized/Classified loans increased $670 million or 6% •NCOs to average loans was 0.49% vs. 0.66%


(dollars in millions)	September 30, 2026		June 30, 2026		Compare
Total cash and cash equivalents	$	4,046	$	5,108	-21	%
Total loans and leases held for investment	61,945		60,987		2	%
Total assets	87,412		87,714		-0.3	%
Total deposits	67,820		67,521		0.4	%
Total borrowed funds	10,937		10,937		—	%


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


							September 30, 2026
	For the Three Months Ended						compared to:
(dollars in millions)	September 30, 2026		June 30, 2026		September 30, 2025		June 30, 2026		September 30, 2025
Net interest income	$	460	$	440	$	425	5	%	8	%
Non-interest income	70		76		94		-8	%	-26	%
Total revenues	$	530	$	516	$	519	3	%	2	%
Total non-interest expense	464		450		522		3	%	-11	%
Pre - provision net revenue/(loss) (non-GAAP)	$	66	$	66	$	(3)	—	%	NM
Merger-related expenses	—		—		17		NM		NM


Severance	—		—		8		NM		NM




Litigation settlement	—		—		14		NM		NM
Net (gain) loss on investment security	—		(4)		(21)		NM		NM


Pre - provision net revenue/(loss), as adjusted (non-GAAP)(1)	$	66	$	62	$	15	6	%	NM


							September 30, 2026
	As of						compared to:
(dollars in millions)	September 30, 2026		June 30, 2026		September 30, 2025		June 30, 2026		September 30, 2025
Total non-accrual loans held for investment	$2,817		$2,800		$3,241		1	%	-13	%

Non-accrual held for investment loans to total loans held for investment	4.55	%	4.59	%	5.17	%	-1	%	-12	%
Non-accrual held for investment loans and repossessed assets ("NPAs") to total assets	3.23	%	3.20	%	3.56	%	1	%	-9	%
Allowance for credit losses on loans and leases	$869		$869		$1,071		—	%	-19	%
Total ACL, including on unfunded commitments	$927		$925		$1,128		—	%	-18	%
ACL % of total loans held for investment	1.40	%	1.42	%	1.71	%	-2 bps		-31 bps
Total ACL % of total loans held for investment	1.50	%	1.52	%	1.80	%	-2 bps		-30 bps
ACL on loans and leases % of NPLs	31%		31%		33%		-1	%	-7	%
Total ACL % of NPLs	33%		33%		35%		—	%	-5	%


	September 30, 2026		June 30, 2026		December 31, 2025
REGULATORY CAPITAL RATIOS: (1)
Common equity tier 1 ratio	12.38	%	13.16	%	12.83	%
Tier 1 risk-based capital ratio	13.19	%	13.99	%	13.66	%
Total risk-based capital ratio	15.74	%	16.58	%	16.23	%
Leverage capital ratio	9.33	%	9.70	%	9.22	%


							September 30, 2026
							compared to
(dollars in millions)	September 30, 2026		June 30, 2026		December 31, 2025		June 30, 2026		December 31, 2025
Assets
Cash and due from banks	$	382	$	416	$	553	-8	%	-31	%
Interest-earning deposits and other securities with financial institutions	3,664		4,692		5,341		-22	%	-31	%
Total cash and cash equivalents	4,046		5,108		5,894		-21	%	-31	%
Securities:
Debt securities available-for-sale	16,395		16,553		15,701		-1	%	4	%
Equity investments with readily determinable fair values, at fair value	14		14		65		—	%	-78	%
Total securities	16,409		16,567		15,766		-1	%	4	%
Loans held for sale	166		208		265		-20	%	-37	%
Loans and leases held for investment:
Multi-family	25,948		26,931		28,983		-4	%	-10	%
Commercial real estate	8,102		8,244		9,314		-2	%	-13	%
One-to-four family first mortgage	5,867		5,767		5,630		2	%	4	%
Commercial and industrial	20,579		18,563		15,217		11	%	35	%
Other loans	1,449		1,482		1,588		-2	%	-9	%
Total loans and leases held for investment	61,945		60,987		60,732		2	%	2	%
Less: Allowance for credit losses on loans and leases	(869)		(869)		(1,030)		—	%	-16	%
Total loans and leases held for investment, net	61,076		60,118		59,702		2	%	2	%

Premises and equipment, net	474		472		477		—	%	-1	%
Core deposit and other intangibles	310		333		381		-7	%	-19	%



Other assets	4,931		4,908		5,027		—	%	-2	%
Total assets	$	87,412	$	87,714	$	87,512	—	%	—	%
Liabilities and Stockholders' Equity
Deposits:
Interest-bearing checking and money market accounts	$	19,330	$	20,477	$	18,233	-6	%	6	%
Savings accounts	14,741		14,836		14,864		-1	%	-1	%
Certificates of deposit	21,359		20,477		20,843		4	%	2	%
Non-interest-bearing accounts	12,390		11,731		12,060		6	%	3	%
Total deposits	67,820		67,521		66,000		—	%	3	%
Borrowed funds:
Wholesale borrowings	9,900		9,901		11,151		—	%	-11	%
Junior subordinated debentures	588		587		585		—	%	1	%
Subordinated notes	449		449		448		—	%	—	%
Total borrowed funds	10,937		10,937		12,184		—	%	-10	%
Other liabilities	1,010		1,115		1,184		-9	%	-15	%

Total liabilities	79,767		79,573		79,368		—	%	1	%
Mezzanine equity:
Preferred stock - Series B	1		1		1		—	%	—	%
Stockholders' equity:
Preferred stock - Series A and D	503		503		503		—	%	—	%
Common stock	4		4		4		—	%	—	%
Paid-in capital in excess of par	9,311		9,299		9,303		—	%	—	%
Retained earnings	(958)		(958)		(988)		—	%	-3	%
Treasury stock, at cost	(377)		(161)		(190)		NM		98	%
Accumulated other comprehensive loss, net of tax:	(839)		(547)		(489)		53	%	72	%
Total stockholders' equity	7,644		8,140		8,143		-6	%	-6	%
Total liabilities, Mezzanine and Stockholders' Equity	$	87,412	$	87,714	$	87,512	—	%	—	%


	For the Nine Months Ended
	September 30, 2026		September 30, 2025		Compare
(dollars in millions, except per share data)
Interest Income:
Loans and leases	$	2,285	$	2,519	-9	%
Securities and money market investments	687		889		-23	%
Total interest income	2,972		3,408		-13	%

Interest Expense:
Interest-bearing checking and money market accounts	380		480		-21	%
Savings accounts	292		334		-13	%
Certificates of deposit	605		850		-29	%
Borrowed funds	352		490		-28	%
Total interest expense	1,629		2,154		-24	%
Net interest income	1,343		1,254		7	%
Provision for credit losses	94		181		-48	%
Net interest income after provision for credit losses	1,249		1,073		16	%

Non-Interest Income:
Fee income	78		67		16	%
Bank-owned life insurance	34		32		6	%
Net loss on investment securities	(5)		22		NM

Net gain on loan sales and securitizations	12		24		-50	%

Net loan administration income	1		5		-80	%

Other income	81		101		-20	%
Total non-interest income	201		251		-20	%

Non-Interest Expense:
Operating expenses:
Compensation and benefits	676		723		-7	%
Occupancy and equipment	142		155		-8	%
Software expenses	146		127		15	%
FDIC insurance	89		136		-35	%
Professional services	64		69		-7	%
General and administrative	192		237		-19	%
Total operating expenses	1,309		1,447		-10	%
Intangible asset amortization	71		81		-12	%
Merger-related expenses	—		39		NM

Total non-interest expense	1,380		1,567		-12	%
Income (loss) before income taxes	70		(243)		NM
Income tax expense (benefit)	3		(37)		NM
Net income (loss)	67		(206)		NM
Preferred stock dividends	25		25		—	%
Net income (loss) attributable to common stockholders	$	42	$	(231)	NM

Basic earnings (loss) per common share	$	0.10	$	(0.56)	NM
Diluted earnings (loss) per common share	$	0.09	$	(0.56)	NM
Dividends per common share	$	0.03	$	0.03	—	%


	At or for the
	Three Months Ended,									Nine Months Ended,
(dollars in millions)	September 30, 2026			June 30, 2026			September 30, 2025			September 30, 2026			September 30, 2025
Total Stockholders’ Equity	$	7,644		$	8,140		$	8,108		$	7,644		$	8,108
Less: Core deposit and other intangible assets	(310)			(333)			(407)			(310)			(407)
Less: Preferred stock - Series A and D	(503)			(503)			(503)			(503)			(503)
Tangible common stockholders’ equity	$	6,831		$	7,304		$	7,198		$	6,831		$	7,198
Total Stockholders’ Equity	$	7,644		$	8,140		$	8,108		$	7,644		$	8,108
Less: Preferred stock - Series A and D	$	(503)		$	(503)		$	(503)		$	(503)		$	(503)
Common stockholders’ equity	$	7,141		$	7,637		$	7,605		$	7,141		$	7,605
Total Assets	$	87,412		$	87,714		$	91,668		$	87,412		$	91,668
Less: Core deposit and other intangible assets	(310)			(333)			(407)			(310)			(407)
Tangible Assets	$	87,102		$	87,381		$	91,261		$	87,102		$	91,261
Average common stockholders’ equity	$	7,583		$	7,670		$	7,628		$	7,649		$	7,604
Less: Other intangible assets	(326)			(349)			(424)			$	(349)		$	(451)
Average tangible common stockholders’ equity	$	7,257		$	7,321		$	7,204		$	7,300		$	7,153
Average Assets	$	87,793		$	86,694		$	91,983		$	87,184		$	95,907
Less: Core deposit and other intangible assets	(326)			(349)			(424)			(349)			(451)
Average tangible assets	$	87,467		$	86,345		$	91,559		$	86,835		$	95,456
GAAP MEASURES:
Return (loss) on average assets (1)	0.06		%	0.16		%	(0.16)		%	0.10		%	(0.29)		%
Return (loss) on average common stockholders' equity (2)	0.21		%	1.37		%	(2.31)		%	0.75		%	(4.05)		%
Book value per common share	$	17.82		$	18.31		$	18.30		$	17.82		$	18.30
Common stockholders’ equity to total assets	8.17		%	8.71		%	8.30		%	8.17		%	8.30		%
NON-GAAP MEASURES:
Return (loss) on average tangible assets (1)	0.06		%	0.15		%	(0.10)		%	0.11		%	(0.22)		%
Return (loss) on average tangible common stockholders’ equity (2)	0.22		%	1.29		%	(1.70)		%	0.85		%	(3.45)		%
Tangible book value per common share	$	17.05		$	17.51		$	17.32		$	17.05		$	17.32
Tangible common stockholders’ equity to tangible assets	7.84		%	8.36		%	7.89		%	7.84		%	7.89		%


	At or for the
(dollars in millions, except per share data)	Three Months Ended September 30, 2026
Tangible common stockholders’ equity	$	6,831
Common shares outstanding as of September 30, 2026	400,635,645
Dilution Impact of Warrants	38,233,612
Common shares outstanding at the respective period-ends, incl. warrants	438,869,257
Tangible book value per common share - adjusted for warrant exercise	$	15.56

Weighted average dilutive potential common shares for the three months ended - GAAP	54,637,476
Weighted average dilutive impact of convertible preferred	(250,000)
Weighted average dilutive impact of options outstanding	(3,291,956)
Weighted average dilutive impact of unvested share units	(2,504,420)
Weighted average vs. ending share price adjustment on the dilutive impact of warrants outstanding	(10,357,489)
Dilution impact of warrants on tangible book value- non GAAP(1)	38,233,612


Emerging growth company			☐


Item 7.01			Regulation FD Disclosures


Item 9.01			Financial Statements and Exhibits


	For the Three Months Ended						For the Nine Months Ended
	September 30, 2026		June 30, 2026		September 30, 2025		September 30, 2026		September 30, 2025
	Amount	Per Share	Amount	Per Share	Amount	Per Share	Amount	Per Share	Amount	Per Share
Diluted Earnings (Loss) Per Share - GAAP	$3	$0.01	$26	$0.06	$(45)	$(0.11)	$42	$0.09	$(231)	$(0.56)
Adjustments	—	0.00	(4)	(0.01)	18	0.04	5	0.01	62	0.15
Tax effect on adjustments	—	0.00	1	0.00	(4)	(0.01)	(1)	0.00	(16)	(0.04)
Diluted Earnings (Loss) Per Share, as adjusted - non-GAAP	$3	0.01	$23	0.05	$(31)	(0.07)	$46	0.10	$(185)	(0.45)

Total shares for diluted earnings per common share	466,030,436		473,623,332		415,563,380		468,707,328		415,173,630


(dollars in millions)	Current		Loans 30-89 Days Past Due		Loans 90 Days or More Past Due and Still Accruing		Non-Accrual Loans		Total Loans Receivable
September 30, 2026
Multi-family	$	23,381	$	392	$	50	$	2,125	$	25,948
Commercial real estate	7,508		79		53		462		8,102
One-to-four family first mortgage	5,791		13		2		61		5,867
Commercial and industrial	20,399		34		2		144		20,579
Other	1,412		12		—		25		1,449
Total	$	58,491	$	530	$	107	$	2,817	$	61,945
June 30, 2026
Multi-family	$	24,528	$	233	$	38	$	2,132	$	26,931
Commercial real estate	7,730		30		13		471		8,244
One-to-four family first mortgage	5,698		9		—		60		5,767
Commercial and industrial	18,370		82		—		111		18,563
Other	1,442		14		—		26		1,482
Total	$	57,768	$	368	$	51	$	2,800	$	60,987
September 30, 2025
Multi-family	$	27,682	$	344	$	—	$	2,440	$	30,466
Commercial real estate	9,495		117		—		551		10,163
One-to-four family first mortgage	5,424		19		—		70		5,513
Commercial and industrial	14,686		34		—		154		14,874
Other	1,598		21		—		26		1,645
Total	$	58,885	$	535	$	—	$	3,241	$	62,661