Keyword Analysis & Research: flagstar and nycb merger

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What does Flagstar's acquisition of New York Community Bancorp mean for community banks?

New York Community Bancorp ( NYSE:NYCB) kept the wave of regional bank consolidation going with its recent announcement that it plans to acquire the Michigan-based Flagstar Bancorp ( NYSE:FBC). The deal will create an $87-billion-asset institution with a presence mainly in the Northeast and Midwest.

What are the terms of the agreement between Flagstar and New York community?

Under terms of the agreement, which was unanimously approved by the Boards of Directors of both companies, Flagstar shareholders will receive 4.0151 shares of New York Community common stock for each Flagstar share they own.

How much did NYCB spend to buy Flagstar?

Image source: Getty Images. NYCB plans to purchase Flagstar in an all-stock deal that values the bank at $2.6 billion, or 115% tangible book value (equity minus intangible assets and goodwill).

What kind of bank is Flagstar Bank?

About Flagstar Bancorp, Inc. Flagstar Bancorp, Inc. is a $29.4 billion savings and loan holding company headquartered in Troy, MI. Flagstar Bank, FSB, provides commercial, small business, and consumer banking services through 158 branches in Michigan, Indiana, California, Wisconsin, and Ohio.

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