FINANCIAL STATEMENTS AND RATIOS ANALYSIS Assignment

FINANCIAL STATEMENTS AND RATIOS ANALYSIS - Assignment Example The two main financial statements (the Income Statement and Balance Sheet) are going to be analyzed in both cases together with some financial ratios. However, before embarking on the aforementioned task, each of these banking corporations is going to be considered individually in a bid to understand their backgrounds. This is going to be in the order in which they have been mentioned in the introduction part. Flagstar Bank is a banking institution known by the official name Flagstar Bank and Flagstar Bancorp Investment Company acts as its holding company. It is headquartered at Troy, Michigan at the address 5151 Corporate Drive. Its website address is www.flagstar.com and its investor relations phone number is (248) 312-2000 and in case an investor wants to send an e-mail there is a facility on the company’s website to do that(investors@flagstar.com) plus an in case of any suspicion in dealings with Flagstar e-mail abuse@flagstar.com. The stock exchange trading symbol for this company is FBC at NYSE. The current share price is $0.79 and the company’s stock is under Financial Industries and further narrows down to the bank sector of NYSE. According to the 2009’s annual report, there are ten directors of which eight are outside directors and two are inside directors. Outside directors are considered independent when it comes to the company’s management decision making and therefore, mindful of the impact of the decisions’ impact on the shareholders. This is a branch bank and it operates around 175 banking centers. (flagstar.com, 2011) Universal banking refers to a case where banking firms have a network of branches, several firm claims, offers a variety of services as well as taking part in corporate governance upon firms which depend on banks for sourcing funds. Flagstar bank is not a universal bank according to the opinion of the study. (Calomiris, 1995 p1) On the other hand, the