Flagstar Bancorp Inc. 1998 net up
BLOOMFIELD, Mich., Jan 29 (Reuters) -
SUMMARY OF SELECTED CONSOLIDATED FINANCIAL DATA
Summary of Consolidated Statements of Income
At or For the Year Ended December 31,
1998 1997 1996 (1)
( In Thousands, Except Share Data )
Interest income $191,261 $122,752 $76,179
Interest expense 137,187 80,033 45,967
Net interest income 54,074 42,719 30,212
Provisions for losses 18,631 5,015 2,604
Net interest income after
provisions for losses 35,443 37,704 27,608
Other income 118,413 59,836 58,534
Operating and administrative
expenses 86,843 62,503 58,820
Income before federal
income tax provision 67,013 35,037 27,322
Provision for federal
income taxes 25,950 13,265 10,299
Net income $41,063 $21,772 $17,023
Earnings per
share -- basic: $3.00 $1.70 $1.51
Earnings per
share -- diluted: $2.90 $1.68 $1.51
Dividends per
common share $0.28 $0.06 $0.09
Total assets $3,046,445 $1,901,084 $1,297,226
1. The 1996 earnings reflect the one time SAIF assessment
of $3.4 million ($2.2 million after tax) paid in September
1996. Without this assessment, earnings would have been $19.2
million and return on average equity, return on average assets
and the efficiency ratio would have been 27.87 percent, 1.73
percent, and 61.0 percent, respectively.
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