Core Viewpoint - Flagstar Financial, Inc. has announced a merger agreement with Flagstar Bank, where the Company will merge into the Bank, simplifying its organizational structure and operations [1][2][4] Group 1: Merger Details - The merger will result in Flagstar Bank, N.A. as the surviving entity, with its common stock continuing to trade under the ticker symbol "FLG" on the NYSE [1] - The reorganization aims to reduce costs, streamline operations, and eliminate redundant corporate activities [2] Group 2: Approval Process - The merger is subject to regulatory and shareholder approval, with a proxy statement expected to be filed with the SEC in Q3 2025 [3] - The Company anticipates completing the merger before the end of 2025, assuming all approvals are received [3] Group 3: Company Overview - As of March 31, 2025, Flagstar Financial, Inc. had $97.6 billion in assets, $67.1 billion in loans, $73.9 billion in deposits, and total stockholders' equity of $8.2 billion [4] - Flagstar Bank operates approximately 400 locations across nine states, with a strong presence in the New York/New Jersey metropolitan area and significant markets in Florida and the West Coast [4]
FLAGSTAR FINANCIAL, INC. ANNOUNCES ACTIONS TO ENHANCE ITS CORPORATE STRUCTURE BY MERGING HOLDING COMPANY INTO THE BANK