Flagstar Bank

Flagstar Bank

Flagstar Bancorp, Inc. operates as the holding company for Flagstar Bank, a federally chartered stock savings bank. Flagstar is the largest publicly traded savings bank headquartered in the midwest United States. Flagstar is also a leading mortgage lender and a national leader in the wholesale mortgage business. The bank was chartered in 1987 under the name First Security Savings Bank, FSB. A small savings bank in nearby Jackson, Michigan, Security Savings Bank, was purchased in 1994. The banking charters of First Security Savings Bank and Security Savings Bank were merged in 1996, and the bank was renamed Flagstar. An initial public offering for Flagstar Bancorp, Inc. common stock was held in April 1997, and listed on the NASDAQ Stock Market under the symbol FLGS. The company's securities' listings moved to the NYSE on July 13, 2001 and trades under the ticker symbol FBC.

As of December 31, 2011, Flagstar operated 113 branches in Michigan, having sold their branches in both Indiana and Georgia in order to focus on their core markets. On December 2, 2011, all 22 Flagstar branches located in Indiana were sold to First Financial Bank. Similarly, on December 9, 2011, all 27 Flagstar branches located in Georgia were sold to PNC Financial Services. Additionally, Flagstar operated 27 home loan centers in 13 states, and a total of four commercial banking offices in Massachusetts, Connecticut, and Rhode Island. The company also originates a number of mortgages across the United States through its internet banking branch. Principal corporate offices are located in Troy, Michigan with regional offices in Dunwoody, Georgia and Bellevue, Washington. The bank is a principal co-sponsor of the Detroit Free Press/Flagstar Bank International Marathon and also sponsors several other events nationally.