New York Community Bancorp (NYCB) acquired Flagstar Bancorp, creating a regional banking franchise ranking among the top 25 banks in the country based on total assets.
New York Community Bancorp and Flagstar Bancorp announced that NYCB has received regulatory approval from the Federal Reserve Board to complete its previously announced acquisition of Flagstar.
The Federal Reserve lifted its supervisory agreement with Flagstar Bancorp as of August 14, 2018.
Flagstar Bancorp closed its previously announced transaction to acquire eight Desert Community Bank branches in San Bernardino County, CA, from East West Bank, along with certain related assets.
CIT announced it has agreed to acquire approximately $1.3 billion in commercial loan commitments, which consists primarily of asset-based, commercial real estate and equipment finance loans and leases from Flagstar Bank.