Earnings Call Excerpt
Flagstar Bancorp, Inc. (FBC)
Q3 2009 Earnings Call
November 3, 2009 11:00 am ET
Executives
Joe Campanelli - Chief Executive Officer
Paul Borja - Chief Financial Officer
Presentation
Operator
Good afternoon. My name is Stefanie, and I will be your conference operator today. At this time, I would like to welcome everyone to the Flagstar Bank Q3 2009 investor relations conference call. (Operator Instructions).
I'd now like to turn the conference over to Paul Borja, Chief Financial Officer. Please begin sir.
Paul Borja
Thank you. Good morning everyone. My name is Paul Borja and I am the Chief Financial Officer, Flagstar Bancorp.
Before Joe Campanelli and I begin our comments, let me remind you about a few things that this presentation does contain some forward-looking statements regarding both our financial condition and our financial results, and that these statements involve certain risks that may cause actual results in the future to be different from our current expectations. These factors include among other things, changes in economic conditions, changes in interest rates, comparative pressures within the financial services industry and legislative or regulatory requirements that may affect our businesses.
For additional factors, we urge you to please see our press release and SEC documents as well as the legal disclaimer on page two of our slide that we have posted on our Investor Relations website for this speech.
Please also note that the questions that we have received so far have been incorporated into our comments.
With that, I’ll turn it over to Joe Campanelli, our CEO
Joe Campanelli
Thank you, Paul. Good morning everyone. My name is Joe Campanelli. I am Chairman and CEO of Flagstar Bank. I am very pleased to be here for my first earnings call. First of, I would like to thank to Tom Hammond, the former Chairman and Mark Hammond the former CEO for their assistance for making this a smooth transition.
We will be getting into our third quarter earnings report in just a moment, but first I'd like to note several announcements that have been made and initiatives that are underway at Flagstar.
Today, we filed a shelf registration statement for $2 billion to put Flagstar in a position to take advantage of future market opportunities. This bank continues to remain well capitalized according to all regulatory standards; however, the market place that we anticipate will present opportunities for consolidation.
We believe it is prudent to ensure access to additional capital to best position Flagstar to take advantage of those opportunities. Perhaps more so today than at any other time in this industry, capital is king, and we've maintained a strong capital position will continue to be priority of ours.
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