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Flagstar Bank, National Association vs Heritage Financial: FLG and HFWA compared
Flagstar Bank, National Association is the larger company: $530M of revenue in its latest quarter (Q3 2026) against $86.5M for Heritage Financial (Q3 2026). Heritage Financial is growing faster (+32% against +2% a year earlier). Heritage Financial is more profitable, with an operating margin of 25.8% against -1.9%.
Where the money goes: FLG and HFWA
Flagstar Bank, National Association (FLG) · Q3 2026
Flagstar Bank, National Association, Q3 2026: revenue $530M (+2% year over year), operating margin -1.9%, net earnings $12.0M, operating cash flow −$5.0M. The chart follows the revenue to costs, profit and cash.
Heritage Financial (HFWA) · Q3 2026
Heritage Financial, Q3 2026: revenue $86.5M (+32% year over year), operating margin 25.8%, net earnings $18.7M, operating cash flow $30.5M. The chart follows the revenue to costs, profit and cash.
| Flagstar Bank, National Association (FLG) | Heritage Financial (HFWA) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $530M | $86.5M |
| Revenue growth, Y/Y | +2% | +32% |
| Operating margin | -1.9% | 25.8% |
| Net earnings | $12.0M | $18.7M |
| Net margin | 2.3% | 21.6% |
| Operating cash flow | −$5.0M | $30.5M |
| Free cash flow | — | $28.4M |
| Market value | $5.0B | $1.1B |
| P/E | 103.8× | 14.6× |
| Analysts’ mean target | $13.18 | $32.60 |
Where the revenue comes from
Flagstar Bank, National Association
- Net interest income: $460M (87%)
- Noninterest income: $70.0M (13%)
Heritage Financial
- Net interest income: $77.3M (89%)
- Noninterest income: $9.3M (11%)
Questions
Which is bigger, Flagstar Bank, National Association or Heritage Financial?
Flagstar Bank, National Association is the larger company: $530M of revenue in its latest quarter (Q3 2026) against $86.5M for Heritage Financial (Q3 2026).
Is Flagstar Bank, National Association or Heritage Financial growing faster?
Heritage Financial is growing faster (+32% against +2% a year earlier).
Which is more profitable, Flagstar Bank, National Association or Heritage Financial?
Heritage Financial is more profitable, with an operating margin of 25.8% against -1.9%.
More: Flagstar Bank, National Association earnings · how Flagstar Bank, National Association makes money · Heritage Financial earnings · how Heritage Financial makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.