Mar. 5 at 1:38 PM
$FLG I have been waiting nearly two years for this announcement and not a single publication picked it up. This was THE material weakness in the original NYCB that spurred the restructuring. Now it is resolved.
Flagstar Financial's management team just reported that they have officially, "maintained effective internal control over financial reporting as of December 31, 2025." KPMG issued an audited opinion backing up this claim. Throughout their annual report, they only referenced their, "past material weakness." WOW.
For those of you following along for the last two years, this was THE underlying concern driving a lower-than-TBV valuation on the company.
$25+/share here we come!