TROY, Mich. (AP) _ Flagstar Bancorp Inc. (FBC) on Tuesday reported fourth-quarter net income of $54 million, after reporting a loss in the same period a year earlier.
The Troy, Michigan-based company said it had profit of 93 cents per share. Earnings, adjusted for non-recurring gains, were 72 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 72 cents per share.
The holding company for Flagstar Bank posted revenue of $279 million in the period. Its adjusted revenue was $250 million, surpassing Street forecasts. Five analysts surveyed by Zacks expected $235.8 million.
For the year, the company reported profit of $187 million, or $3.21 per share. Revenue was reported as $936 million.
Flagstar Bancorp shares have risen 13 percent since the beginning of the year. The stock has fallen 24 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FBC at https://www.zacks.com/ap/FBC