About Flagstar
On December 1, 2022, New York Community Bank, Flagstar Bank, and Desert Community Bank (DCB) joined together to become one bank. Together, we'll be able to bring you even more of the tailored solutions you need to succeed, all with a shared customer-first, community-focused approach. Read the press release.
Who We Are
New York Community Bancorp, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the country. The Company is headquartered in Hicksville, New York with regional headquarters in Troy, Michigan. At September 30, 2022, the Company had $88.4 billion of assets, $66.0 billion of loans, deposits of $58.3 billion, and total stockholders’ equity of $9.3 billion.
Flagstar Bank, N.A. operates 395 branches across nine states, including strong footholds in the Northeast and Midwest with exposure to high growth markets in the Southeast and West Coast. Through its Flagstar Mortgage division, the Company operates nationally through 81 retail home lending offices and a wholesale network of approximately 3,000 third-party mortgage originators.
Our History
New York Community Bancorp, Inc., through its subsidiary bank, Flagstar Bank, N.A., has deep roots in two major markets; the Northeast, specifically New York City and in Michigan. Founded in 1859 as the Queens County Savings Bank, it was the first savings bank chartered by the state of New York in the New York City Borough of Queens. The Company went public in 1993 and has grown organically and through a series of accretive mergers and acquisitions, culminating in its recent acquisition of Flagstar Bancorp, Inc., which closed on December 1, 2022.
Flagstar Bank’s origins date back to 1987 in Troy, Michigan when it was known as First Security Savings Bank. It was chartered as a federal savings bank in 1987 and adopted its current name in 1996, reflecting a series of acquisitions of its own. Flagstar has a retail presence in four Mid-western states and in California, while its mortgage division conducts business nationally.
What We Do
New York Community Bancorp, Inc. has market-leading positions in several national businesses, including multi-family lending, mortgage origination and servicing, and warehouse lending. The Company is the second-largest multi-family portfolio lender in the country and the leading multi-family portfolio lender in the New York City market area, where it specializes in rent-regulated, non-luxury apartment buildings. Flagstar Mortgage is the 7th largest bank originator of residential mortgages for the 12-months ending September 30, 2022, while we are the industry’s 5th largest sub-servicer of mortgage loans nationwide, servicing 1.4 million accounts with $360 billion in unpaid principal balances. Additionally, the Company is the 2nd largest mortgage warehouse lender nationally based on total commitments.