Our History

2016

Reported net income of $47 million for the second quarter.

2015

Reported net income of $33 million for the fourth quarter and $158 million for the year.

2014

Reported net income of $11.1 million for the fourth quarter and a net loss of $69.5 million for the year.

Opened a new branch in Detroit's Midtown district, our second new branch in the city in two years.

2013

Posted net income of $160.5 million for the fourth quarter and $261.2 million for the year.

Announced a three-year agreement to be an Official Partner of the Detroit Red Wings.

Announced Lee Smith joined Flagstar as chief operating officer in May.

Named Alessandro P. DiNello president and CEO of the company and the bank, and a director of both entities in May.

2012

Reported net income for 2012 of $62.7 million.

Named Michael J. Tierney chief executive officer of Flagstar Bancorp and Flagstar Bank and president of Flagstar Bancorp in December.

Reported net income of $79.7 million in the third quarter, marking our second consecutive quarter of profitability.

Formed a three-year partnership to become an Official Partner of Michigan Athletics.

Announced earnings of $86.0 million for the second quarter, marking our first profitable quarter since 2008.

Celebrated our 25th anniversary on May 20.

Consolidated our mortgage servicing operations into a 95,000 square-foot-location near our corporate headquarters.

2011

Introduced new products and services to support our transformation to a full-service community bank, including a refreshed website, a redesign of our online banking platform, and a new mobile banking application.

Ranked "Highest in Customer Satisfaction with Retail Banking for the North Central Region in a Tie" in the 2011 J.D. Power and Associates Retail Banking Satisfaction Study℠.* The North Central Region includes banks in Michigan, Indiana, Ohio, Kentucky, and West Virginia.

Divested our Indiana and Georgia franchises to focus our resources on our home state of Michigan.

2010

Introduced a full suite of consumer loans, as well as a robust line of business banking products.

Ranked "Highest in Customer Satisfaction with Retail Banking for the North Central Region" in the 2010 J.D. Power and Associates Retail Banking Satisfaction Study℠.* The North Central Region includes banks in Michigan, Indiana, Ohio, Kentucky, and West Virginia.

2009

Announced a new management team led by Joseph Campanelli, formerly CEO of Sovereign Bancorp. The new team created a business model to transform Flagstar into a full-service community bank.

2005

Entered the greater Atlanta market, opening five branches during the year.

2004

Marked the opening of our 100th bank branch; announced an agreement with Meijer stores to open four in-store branches in the Grand Rapids area.

2003

Reported a record-setting $56.5 billion in mortgage loan originations.

2001

Joined the New York Stock Exchange (NYSE), switching from the Nasdaq.

2000

Moved into a new 373,000 square-foot corporate headquarters in Troy, Michigan; entered the Indiana market and opened our first in-store branch at a Walmart in Indianapolis.

1997

Joined the Nasdaq stock exchange with our initial public offering of shares in Flagstar Bancorp, Inc., stock.

Launched our first online channel, flagstar.com.

1996

Changed our name to Flagstar Bank to reflect the new, combined entity of First Security Savings Bank and Security Savings Bank. The name had its origins in an employee contest.

1995

Reached the $1-billion-asset milestone.

1994

Acquired Security Savings of Jackson, Michigan, and its five bank offices—our first and only acquisition to date. Security Savings had started in 1938 with $3.2 million in assets.

1993

Formed Flagstar Bancorp, a bank holding company.

1992

Expanded our home lending operations nationally.

1987

Received a charter to operate as First Security Savings Bank, a federal savings bank. Closed the year with $3 million in assets and one branch.

*Flagstar Bank received the highest numerical score among retail banks in the North Central region in the proprietary J.D. Power and Associates 2010-2011 Retail Banking Satisfaction Studies(SM), tied in 2011. 2011 study based on 51,620 total responses measuring 28 providers in the North Central region (IN, KY, MI, OH, WV) and measures opinions of consumers with their primary banking provider. Proprietary study results are based on experiences and perceptions of consumers surveyed in January 2011. Your experiences may vary. Visit jdpower.com.

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