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 (Legal)

Target

Flagstar Bank

Troy, Michigan, United States

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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