Citi Agents $1.905B Revolver for Toll Brothers

Toll Brothers entered into a five-year $1.905 billion revolving credit facility to replace the company’s existing $1.295 billion revolving credit facility, which was scheduled to mature in May 2021.

Flagstar Bank Hires Lee to Head Capital Markets

Flagstar Bank hired Jason Lee to lead Flagstar’s Secondary Marketing and Capital Markets operations.

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.

Wells Fargo to Sell 52 Retail Branches to Flagstar

Wells Fargo agreed to sell 52 retail bank branches in Indiana, Michigan, Ohio and Wisconsin to Flagstar Bank. The sale is part of Wells Fargo’s plan to reduce its retail locations to approximately 5,000 branches by the end of 2020.

Flagstar Acquires Desert Community Branches from East West

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.

Flagstar Names Ottaway Michigan Market President After Strong 2016

Flagstar Bank named Andrew Ottaway president of the Michigan Market after equipment loans and leases reached $89 million in 2016. Ottaway was already Flagstar’s executive vice president and head of lending.

Flagstar Agrees to Settlement with Assured Guaranty

Flagstar announced that the bank has entered into an agreement to settle a lawsuit filed by Assured Guaranty and will pay $105 million for claims arising from home equity line of credit loans insured by Assured.

BridgeSpan Capital, Crestmark Announce Joint Venture

BridgeSpan Capital and Crestmark announced the joint venture BridgeSpan Funding, formed specifically to provide short-term financing to investors in commercial real estate assets.

Customers Bank to Buy Flagstar’s Northeast Loan Portfolio

Flagstar Bancorp said Customers Bank will acquire Flagstar’s remaining Northeast-based commercial loan portfolio.

CIT to Buy Flagstar Bank’s $1.3B Loan Portfolio

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.