Flagstar Financial to merge holding company into bank subsidiary

Flagstar Financial, Inc. (NYSE: FLG) announced its board of directors approved a merger agreement to combine the holding company with its bank subsidiary, Flagstar Bank, N.A., according to a company statement. The bank will serve as the surviving entity and continue operating under the name Flagstar Bank, N.A., with shares trading on the New York Stock Exchange under the ticker symbol "FLG".

The reorganization requires both regulatory and shareholder approval. The company expects to file proxy materials with the Securities and Exchange Commission during the third quarter of 2025 and aims to complete the transaction before year-end, pending required approvals and shareholder vote.

The restructuring is designed to reduce costs, simplify organizational structure, and eliminate redundant corporate activities and duplicative supervision and regulation, the company stated.

"We continue to make significant progress on our journey of building a well-capitalized, diversified, and top-performing regional bank," said Joseph M. Otting, chairman, president, and CEO. "This action of simplifying our legal, regulatory, and corporate structure accelerates this mission by reducing unnecessary costs and ensures our focus remains on the customers and communities we serve."

Flagstar Financial is the parent company of Flagstar Bank, N.A., which operates approximately 400 locations across nine states. As of March 31, 2025, the company reported $97.6 billion in assets, $67.1 billion in loans, $73.9 billion in deposits, and $8.2 billion in total stockholders' equity.

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