M&A Deal Summary

New York Community Bank Acquires Flagstar Bank

On April 26, 2021, New York Community Bank acquired financial services company Flagstar Bank for 2.6B USD

Acquisition Highlights
  • This is New York Community Bank’s 9th transaction in the Financial Services sector.
  • This is New York Community Bank’s largest (disclosed) transaction.
  • This is New York Community Bank’s 9th transaction in the United States.
  • This is New York Community Bank’s 1st transaction in Michigan.

M&A Deal Summary

Date 2021-04-26
Target Flagstar Bank
Sector Financial Services
Buyer(s) New York Community Bank
Deal Type Merger
Deal Value 2.6B USD
Advisor(s) Morgan Stanley
Jefferies (Financial)
Skadden, Arps, Slate, Meagher & Flom LLP (Legal)

Target

Flagstar Bank

Troy, Michigan, United States
website
Flagstar Bancorp's corporate headquarters in Troy, Michigan.
Flagstar Bancorp's corporate headquarters in Troy, Michigan.
Flagstar Bank is a savings and loan holding company that primarily originates or purchases residential mortgage loans throughout the US and sells them into securitization pools, primarily to Fannie Mae, Freddie Mac, and Ginnie Mae or as whole loans. In addition, Flagstar originates or purchases residential first mortgage loans, consumer loans, commercial loans and warehouse loans included in held-for-investment loan portfolios. Flagstar Bancorp was originally established in 1987 and is based in Troy, Michigan.

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Buyer(S) 1

Buyer

New York Community Bank

Hicksville, New York, United States

website


Category Company
Founded 1859
Sector Financial Services
Employees2,815
Revenue 1.5B USD (2022)
DESCRIPTION

New York Community Bank is a New York State-chartered savings bank serving customers throughout Metro New York, New Jersey, Florida, Ohio, and Arizona. New York Community Bank was founded in 1859 and is based in Hicksville, New York.


DEAL STATS #
Overall 9 of 9
Sector (Financial Services) 9 of 9
Type (Merger) 1 of 1
State (Michigan) 1 of 1
Country (United States) 9 of 9
Year (2021) 1 of 1
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-26 Desert Hills Bank

Phoenix,, Arizona, United States

Desert Hills Bank provides banking services and company offers personal banking services, such as deposit accounts, free checking, personal checking, business or personal savings, and business or personal money market.

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