Daily News: December 4, 2018

Flagstar Acquires 52 Wells Fargo Branches in Midwest


Flagstar Bank closed its previously announced transaction to acquire 52 branches of Wells Fargo Bank in four Midwest states, including approximately $2 billion in deposits, along with certain related assets.

“We are excited to welcome the customers and employees of the Wells Fargo Bank branches who joined the Flagstar family over the weekend,” said Alessandro DiNello, president and CEO of Flagstar Bancorp. “We are eager to bring Flagstar’s brand of custom-crafted banking solutions to our new customers—all delivered by our new team of talented bankers. They share our tradition of superior customer service and commitment to the community. Our thanks to the teams on both sides who worked so hard to bring this transaction to a successful conclusion.”

Headquartered in Troy, MI, Flagstar Bank provides commercial, small business, and consumer banking services through 108 branches in Michigan and California. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as 81 retail locations in 27 states.