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Flagstar Bank history
Flagstar Bank company history timeline
Flagstar Bank was founded on May 20, 1987 and has been serving the financial needs of their customers for over 34 years.
In 1993, FSSB Holding Corporation, a bank holding company was established.
In 1994, the company acquired Security Savings Bank, based in Jackson, Michigan.
In 1996, the company changed its name to Flagstar Bank.
In 2001, it moved its stock listing from the NASDAQ to the New York Stock Exchange.
Announced earnings of $86.0 million for the second quarter, marking our first profitable quarter since 2008.
In 2009, former CEO of Sovereign Bancorp Joseph P. Campanelli was named chairman, president, and CEO of Flagstar Bank and Flagstar Bancorp.
Ranked "Highest in Customer Satisfaction with Retail Banking for the North Central Region" in the 2010 J.D. Power and Associates Retail Banking Satisfaction Study℠.* The North Central Region includes banks in Michigan, Indiana, Ohio, Kentucky, and West Virginia.
Ranked "Highest in Customer Satisfaction with Retail Banking for the North Central Region in a Tie" in the 2011 J.D. Power and Associates Retail Banking Satisfaction Study℠.* The North Central Region includes banks in Michigan, Indiana, Ohio, Kentucky, and West Virginia.
In 2012, Michael J. Tierney, previously executive vice president and managing director of personal financial services at Flagstar, became president and CEO of the organizations.
In May 2013, Flagstar paid a $110 million settlement to MBIA.
In 2013, the company sold a $1.3 billion commercial loan portfolio to CIT Group.
Alessandro P. DiNello became president, CEO and director of the organizations in 2013.
In September 2014, Flagstar agreed to pay $37.5 million to the Consumer Financial Protection Bureau.
In August 2016, the bank repaid all of the funds it received under the Troubled Asset Relief Program (TARP).
In September 2016, Flagstar Bank announced plans for a $10 million, 5-year economic development program for Pontiac, Michigan.
In March 2018, the bank acquired 8 branches in San Bernardino County, California from Desert Community Bank.
In April 2021, Flagstar was acquired by New York Community Bank.
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Flagstar Bank competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Huntington National Bank | 1866 | $4.8B | 25,693 | 1,516 |
| Old National Bank | 1834 | $347.9M | 2,901 | 585 |
| Fifth Third Bank | 1858 | $7.7T | 19,846 | 1,162 |
| Access Bank | - | $298.0M | 28,121 | - |
| First Horizon Bank | 1864 | $50.0M | 5,577 | 807 |
| Wintrust Financial | 1991 | $29.9M | 5,057 | 176 |
| The Harbor Bank of Maryland | 1982 | - | 47 | 23 |
| First Merchants | 1893 | $556.0M | 1,918 | 201 |
| M&T Bank | 1856 | $499.3M | 16,840 | 938 |
| Desert Community Bank | - | $14.0M | 50 | - |
Flagstar Bank history FAQs
Zippia gives an in-depth look into the details of Flagstar Bank, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Flagstar Bank. The employee data is based on information from people who have self-reported their past or current employments at Flagstar Bank. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Flagstar Bank. The data presented on this page does not represent the view of Flagstar Bank and its employees or that of Zippia.
Flagstar Bank may also be known as or be related to FLAGSTAR BANCORP INC, Flagstar Bancorp Inc, Flagstar Bancorp, Inc, Flagstar Bancorp, Inc., Flagstar Bank and Flagstar Bank, Fsb.