Flagstar Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company's total interest income was $95 million compared to $72 million a year ago. Net interest income was $76 million compared to $61 million a year ago. The results were led by earning asset growth of 5%, partially offset by a slight drop in net interest margin. Net interest income after provision for loan losses was $77 million compared to $56 million a year ago. Income before income taxes was $45 million compared to $15 million a year ago. Net income was $33 million compared to $11 million a year ago. Diluted income per share was $0.44 compared to $0.07 a year ago. Return on average assets was 1.03% compared to negative return on assets of 0.71% a year ago. Return on average equity was 8.56% compared to negative return on equity of 4.97% a year ago. Book value per share was $22.33 compared to $19.64 a year ago.

For the year, the company's total interest income was $355 million compared to $286 million a year ago. Net interest income was $287 million compared to $247 million a year ago. Net interest income after provision for loan losses was $306 million compared to $115 million a year ago. Income before income taxes was $240 million compared to loss before income taxes of $103 million a year ago. Net income was $158 million compared to loss of $70 million a year ago. Diluted income per share was $2.24 compared to loss per share of $1.72 a year ago.

Net charge-offs in the fourth quarter 2015 were $9 million, or 0.62% of applicable loans, compared to $24 million, or 1.84% of applicable loans in the prior quarter. the fourth quarter 2015 amount included $2 million of net charge-offs associated with the sale of $11 million (unpaid principal balance) of nonperforming loans.