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Stocks•27 April 2026•

1 min read

Flagstar Bank Returns to Profitability as Fitch Upgrades Credit Rating to BB

Key Facts

1Flagstar Bank achieved positive non-GAAP profits for two consecutive quarters.

2Fitch upgraded the bank's credit rating to BB following improved credit quality.

3Deposits rose 1.3% sequentially to reach $66.8 billion.

Flagstar Bank has demonstrated a significant turnaround in its financial performance, reporting positive non-GAAP profits for two consecutive quarters. In response to the improved credit quality, Fitch Ratings upgraded the bank's credit rating to BB. Deposits also saw a sequential increase of 1.3%, reaching a total of $66.8 billion, signaling growing depositor confidence. This recovery is largely attributed to the bank's strategic shift to reduce commercial real estate (CRE) exposure while expanding its commercial and industrial lending portfolio. Despite these positive milestones, the bank's stock continues to trade at a discount to its tangible book value, suggesting potential room for valuation recovery.