Flagstar Bancorp Q3 Profit Declines

(RTTNews) - Flagstar Bancorp, Inc. (FBC) Wednesday announced a fall in third-quarter earnings compared to the prior year's results.

The company reported quarterly earnings of $73 million or $1.35 per share compared to $152 million or $2.83 per share last year. On an adjusted basis, earnings were $75 million or $1.41 per share.

On average, 3 analysts polled by Thomson Reuters expected the company report $1.24 per share. Analysts estimates usually exclude special items.

Net interest income were $219 million, compared to $195 million a year ago. Non-interest income for the quarter declined to $114 million, from $266 million in the prior year.