TROY, Mich., Oct. 19, 2017 /PRNewswire/ -- Flagstar
Bancorp, Inc. (NYSE: FBC) today announced the results of its
company-run 2017 Dodd-Frank Act Stress Test ("DFAST"), conducted in
accordance with regulations of the Board of Governors of the
Federal Reserve (the "FRB") and the Office of the Comptroller of
the Currency ("OCC").
DFAST is a forward-looking exercise under which the Company and
its wholly owned bank subsidiary, Flagstar Bank, estimate the
impact of a hypothetical "severely adverse" macroeconomic scenario
provided by the FRB and OCC on its financial condition and its
regulatory capital ratios over a nine-quarter time
horizon.
Flagstar's DFAST results, given these hypothetical scenarios
provided by the regulatory agencies, suggest that Flagstar would
maintain sufficient capital to remain well capitalized throughout
the nine-quarter DFAST time horizon.
Additional information regarding Flagstar's DFAST results may be
found on the company's website at flagstar.com under Webcasts &
Presentations, 2017 Dodd-Frank Act Stress Test Results.
"We are very pleased with the results of our stress test," said
Alessandro P. DiNello, president and
chief executive officer of Flagstar Bancorp, Inc. "These results
clearly demonstrate a robust capital position that supports our
current business and also provides a significant opportunity for
continued growth."
About Flagstar
Flagstar Bancorp, Inc. (NYSE: FBC) is a $16.0 billion savings and loan holding company
headquartered in Troy, Mich.
Flagstar Bank, FSB, provides commercial, small business, and
consumer banking services through 99 branches in the state. It also
provides home loans through a wholesale network of brokers and
correspondents in all 50 states, as well as 95 retail locations in
27 states, representing the combined retail branches of Flagstar
and Opes Advisors mortgage division. Flagstar is a leading national
originator and servicer of mortgage loans, handling payments and
record keeping for $87 billion of
home loans representing 402,000 borrowers. For more information,
please visit flagstar.com.
This press release contains forward-looking statements,
including projections of the Company's financial results and
condition under a hypothetical scenario that incorporates a set of
assumed economic and financial conditions prescribed by its
regulators. The projections are not intended to be a forecast of
expected future economic or financial conditions or a forecast of
the Company's expected future financial results or condition, but
rather reflect possible results under the prescribed hypothetical
scenario. The Company's future financial results and condition will
be influenced by actual economic and financial conditions and
various other factors as described in its reports filed with the
Securities and Exchange Commission and available
at www.sec.gov.
For more information, contact:
David L. Urban
david.urban@flagstar.com
(248) 312-5970
View original content with
multimedia:http://www.prnewswire.com/news-releases/flagstar-announces-2017-dodd-frank-act-stress-test-results-300540256.html
SOURCE Flagstar Bancorp, Inc.