Keyword Analysis & Research: flagstar merger with nycb

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When does New York community and Flagstar merge?

WESTBURY, N.Y. and TROY, Mich., April 26, 2021 /PRNewswire/ -- New York Community Bancorp, Inc. (NYSE: NYCB) ("New York Community") and Flagstar Bancorp, Inc. (NYSE: FBC) ("Flagstar"), jointly announced today that they have entered into a definitive merger agreement under which the two companies will combine in an all stock merger.

Who is New York Community Bancorp going to acquire?

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.

Who is the Chief Executive Officer of Flagstar?

Thomas R. Cangemi will be President and Chief Executive Officer of the combined company and Alessandro (Sandro) P. DiNello, Flagstar's current President and Chief Executive Officer, will become Non-Executive Chairman with John Pinto serving as Senior Executive Vice President and Chief Financial Officer of the combined company.

What kind of bank is Flagstar Bancorp in?

Flagstar Bancorp is a nearly $30-billion-asset bank that operates in Michigan, Indiana, Wisconsin, and Ohio, and has a small presence in California. It runs a big mortgage operation that flourished last year in the falling-rate environment that drove record profits in the mortgage industry.


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