Flagstar Bank, N.a. · NYSE:FLG
Flagstar Bank, N.a — New York Community Bancorp — Shareholder Meeting (June 2024)
14 slides from Flagstar Bank, N.a's shareholder meeting presentation, Jun 3, 2024
Slide 1: Annual Shareholder Outreach Presentation May/June 2024
Annual Shareholder Outreach Presentation May /June 2024
Slide 2: Forward-Looking Information
Forward-Looking Information This presentation may include forward-looking statements within the meaning of the federal securities laws by New York Community Bancorp, Inc. (the “Company”) pertaining to such matters as our goals, intentions, and expectations regarding (a) revenues, earnings, loan prod
Slide 3: NYCB Flagstar Today
NYCB Flagstar Today Key Franchise Summary Stats Branch Map are a Top 20 bank(1) in the U.S. with a focus on We commercial banking and a private banking network Assets: $113 Billion MI NY CT Branches: 419 WI Headquarters: Hicksville, NY NV NJ OH IN CA AZ NC Community Banking Flagstar Bank, N.A. is a
Slide 4: NYCB Flagstar Will Transform Into a Fully Diversified Bank
NYCB Flagstar Will Transform Into a Fully Diversified Bank With a Strong Balance Sheet, Robust Capital Position and Meaningful Earnings Power Our Strategy 1 Bolster Management and Board 2 Develop a Realistic Operating Plan 3 Achievable Capital and Earnings Forecast 4 Rigorous Credit Risk Management
Slide 5: Management Team with Extensive Turnaround Expertise
Management Team with Extensive Turnaround Expertise Joseph Otting President & Chief Executive Officer, Director Joined 2024 Served as the 31st Comptroller of the Currency Former President of CIT Bank and Co-President of CIT Group Previously served as President, Chief Executive Officer, and Board Mem
Slide 6: Board of Directors – Best-In-Class Governance
Board of Directors – Best-In-Class Governance Steven Mnuchin Lead Independent Director; Chairman of Nominating & Corporate Governance Committee Joined 2024 ï,§ Served as 77th U.S. Secretary of the Treasury ï,§ Founder and Management Partner of Liberty Strategic Capitalï,§ Played a pivotal role in th
Slide 7: Operating Plan – The Path to Profitability
Operating Plan – The Path to Profitability Short-Term 1 Loan Portfolio Repricing Benefit to NII and NIM 2 Focus on Workout of Problem Loans Long-Term Reduction in NPAs Begin Building a More Robust Middle Market Higher Yielding Assets and Relationship-Based 3 Relationship Banking Platform Deposits Ca
Slide 8: Base Forecast Summary
Base Forecast Summary Q4’26 2024 2025 2026 Annualized Diluted EPS ($0.50 – 0.55) $0.35 – 0.40 $0.50 – 0.60 $0.65 – 0.75 Efficiency Ratio 80 – 85% 65 – 70% 60 – 65% 55 – 60% CET1 Ratio 10.0 – 10.25% 10.5 – 11.0% 11.0 – 12.0% 11.0 – 12.0% ROAA NM 0.45 – 0.50% 0.75 – 0.85% 0.95 – 1.00% ROATCE NM 6.5 –
Slide 9: Base Forecast Summary ($ in millions)
Base Forecast Summary ($ in millions) Q4’26 2024 2025 2026 Annualized Net Interest Income $2,400 – 2,450 $2,600 – 2,700 $2,900 – 3,100 $3,100 – 3,250 Net Interest Margin 2.2 – 2.3% 2.4 – 2.5% 2.7 – 2.8% 2.8 – 3.0% Provision for Loan Losses $750 – 800 $150 – 200 $150 – 200 $150 – 200 Noninterest Inco
Slide 10: Balance Sheet Position
Balance Sheet Position $50 – 100B Asset NYCB Flagstar NYCB Flagstar Category IV Banks Banks Q4’23 Q1’24 Most Recent Available Most Recent Available TCE / TA 6.4% 6.5% 6.4% 6.7% CET1 Ratio 9.0% 10.1% 10.4% 10.8% (As Preferred Converted)(1) CET1 Ratio 8.4% 9.4% 8.5% 9.3% (Inclusive of AOCI)(1)(2) ALLL
Slide 11: Concluding Statements
Concluding Statements Investment Opportunity Pro-forma for the capital raise, NYCB currently trades at approximately 0.52x of fully converted tangible book value, compared to 1.48x for Category IV banks and 1.35x for banks with assets between $50—$100 billion Q1’24 TBV Per Share (As Preferred Conver
Slide 12: Annual Meeting Proposals
Annual Meeting Proposals Shareholder approval of the proposals will contribute to the turnaround currently underway as NYCB aims to return to growth and profitability. The approval of the proposals related to the March 2024 capital raise (4, 6 & 7) in particular will further strengthen NYCB’s balanc
Slide 13: Proposals Related to March 2024 Capital Raise
Proposals Related to March 2024 Capital Raise Effect of approval of Proposals 4 & 7 Preferential dividend (13% annum) and liquidation preference ($2,000/share) rights associated with Series B and Series C Preferred cease. Significantly improved capital ratios for regulatory capital purposes. Effect
Slide 14: Proposal 8: Amendment to Incentive Plan
Proposal 8: Amendment to Incentive Plan Effect of approval of Proposal 8 The proposed amendment to the 2020 Omnibus Incentive Plan would increase the shares reserved for issuance by 35.8 million shares, to 51.9 million. The additional shares would result in dilution of ~2.9% (based on issued and out
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