Flagstar Bank
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| Flagstar Bancorp, Inc. | |
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| Type | Public (NYSE: [1]) |
| Founded | Flagstar Bancorp, Inc. - 1993 (as FSSB Holding Corporation); Flagstar Bank, FSB - 1987 (as First Security Savings Bank, FSB) |
| Headquarters | Troy, MI |
| Key people | Mark T. Hammond, President and CEO |
| Industry | Finance |
| Products | Commercial and retail banking, mortgage financing and servicing, consumer finance and asset management |
| Employees | 3,015 (2006) |
| Website | www.flagstar.com |
Flagstar Bancorp, Inc. (NYSE: FBC) operates as the holding company for Flagstar Bank, a federally chartered stock savings bank. Flagstar is the largest publicly traded savings bank headquartered in the midwest United States. Flagstar is also a leading mortgage lender and a national leader in the wholesale mortgage business. The bank was chartered in 1987 under the name First Security Savings Bank, FSB. A small savings bank in nearby Jackson, Michigan, Security Savings Bank, was purchased in 1994. The banking charters of First Security Savings Bank and Security Savings Bank were merged in 1996, and the bank was renamed to its current state. An initial public offering for Flagstar Bancorp, Inc. common stock was held in April 1997, and listed on the NASDAQ Stock Market under the symbol FLGS. The company's securities' listings moved to the NYSE on July 13, 2001.
The bank currently operates 162 banking centers (as of December 2007) in Michigan, Indiana and Georgia. In addition, Flagstar operates 151 home lending offices nationally. The company also originates a number of mortgages across the United States through its internet banking branch. Principal corporate offices are located in Troy, Michigan with regional offices in Dunwoody, Georgia and Bellevue, Washington. The bank is a principal co-sponsor of the Detroit Free Press/Flagstar Bank International Marathon and also sponsors several other events nationally.
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[edit] Financials
[edit] 2007
- Net Earnings (thousands): $(32.9)
- Earnings Per Share (Basic): $(0.64)
- Total Assets (millions): $15.8
- Return of average equity: (5.14%)
[edit] 2006
- Net Earnings (thousands): $75,202
- Earnings Per Share (Basic): $1.18
- Total Assets (millions): $15,497
- Return of average equity: 9.42%
[edit] 2005
- Net Earnings (thousands): $79,865
- Earnings Per Share (Basic): $1.29
- Total Assets (millions): $15,075.0
- Return of average equity: 10.66%
[edit] 2004
- Net Earnings (thousands): $142,738
- Earnings Per Share (Basic): $2.34
- Total Assets (millions): $13,143
- Return of average equity: 20.60%
