Flagstar Financial (NYSE:FLG) on Friday reported a net loss of $100 million for its first quarter, as falling deposits and loans weighed on the bank holding company's results.
The Hicksville, New York-based bank posted a loss of 26 cents per share for the period ending March 31, 2025.
However, excluding certain non-recurring costs and items related to mergers and acquisitions, Flagstar's adjusted loss came in at 23 cents per share.
The adjusted results surpassed Wall Street expectations.
The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.
The bank holding company reported total revenue of $1.24 billion in the quarter.
Its revenue net of interest expense, a key measure of a bank's core earnings power, was $490 million.
This figure missed analyst forecasts; six analysts surveyed by Zacks had on average expected $518.8 million for revenue net of interest expense.
On the balance sheet, total loans and leases held for investment decreased to $66.6 billion as of March 31, 2025.
This was down $1.7 billion, or 2%, on a linked-quarter basis.
Total deposits also saw a decline, totalling $73.9 billion at the end of the quarter, a $2 billion or 3% decrease compared to the previous quarter.