Core Viewpoint - Flagstar Financial, Inc. has received a recommendation from Institutional Shareholder Services (ISS) for shareholders to vote "FOR" the company's proposals to merge the holding company into its bank subsidiary at the upcoming Special Meeting of Shareholders on October 15 [1][2]. Group 1: Company Overview - Flagstar Financial, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the United States, headquartered in Hicksville, New York [3]. - As of June 30, 2025, the company reported $92.2 billion in assets, $64.4 billion in loans, $69.7 billion in deposits, and total stockholders' equity of $8.1 billion [3]. - Flagstar Bank operates approximately 360 locations across nine states, with significant presence in the greater New York/New Jersey metropolitan area and the upper Midwest, as well as growing markets in Florida and the West Coast [3]. Group 2: Strategic Initiatives - The proposed reorganization aims to simplify the organizational structure, streamline managerial and operational functions, reduce costs, and eliminate redundant corporate activities [2]. - The endorsement from ISS highlights the strategic benefits of the reorganization, which is seen as a milestone in the company's transformation efforts [2]. - The company is committed to delivering value to shareholders while building a diversified, leading regional bank [2].
FLAGSTAR FINANCIAL, INC. RECEIVES SUPPORT FROM INDUSTRY LEADING INDEPENDENT PROXY ADVISORY FIRM ISS FOR UPCOMING SHAREHOLDER VOTE TO ENHANCE CORPORATE STRUCTURE