Latest news with #FlagstarFinancial
Fast Company
3 days ago
- Business
- Fast Company
Flagstar Bank just closed dozens of branches in 5 states. See full the list of locations that shuttered in May
This year has not been kind to retailers in terms of store closures. But brick-and-mortar shops are not the only retail category that has experienced a decline in 2025. Banks are closing retail locations, too. One of America's largest regional banks, Flagstar, closed 24 branch locations on May 30. The closures come after the bank's parent company, Flagstar Financial, announced in January that it would be shuttering 60 branches this year. Here's what you need to know about the latest Flagstar branch closures. What's happened? On May 30, Flagstar shut 24 bank branches for good, according to the Office of the Comptroller of the Currency (OCC), which is an independent bureau of the U.S. Department of the Treasury. The OCC regulates national banks in the United States. In its weekly bulletin for the period from May 25 to May 30, 2025, the OCC says that 24 Flagstar Bank branches were closed. However, the closures did not come as a surprise, as the company announced in January that it would shutter 60 branches. As Banking Dive previously reported, Flagstar Financial announced it would close the locations in an effort to consolidate its retail footprint and cut $600 million in operating costs from its balance sheet by the end of the year. Running physical locations incurs significant operating costs, and as more people turn to online banking first and try to avoid visiting branches if possible, those branches are used less, leading to a reduced return on investment for banks. Which Flagstar Bank branches have closed? According to the OCC, 24 Flagstar Bank branches closed on May 30. The branch closures impact locations in five states: Indiana, Michigan, New Jersey, New York, and Ohio. New York saw the most Flagstar Bank branches close in this round, with nine locations shutting down. Michigan and New Jersey saw six locations each shutter. Indiana saw two close and Ohio one. Here are the locations of the closed branches in each state. Indiana 5770 COVENTRY LANE FORT WAYNE IN 2926 MISHAWAKA AVENUE SOUTH BEND IN Michigan 210 WEST HURON STREET ANN ARBOR MI 29049 JOY ROAD WESTLAND MI 914 CHARLEVOIX DRIVE GRAND LEDGE MI 4675 32ND AVENUE HUDSONVILLE MI 5151 CORPORATE DRIVE TROY MI 500 WOODWARD AVENUE, Detroit, MI New Jersey 949 BROADWAY BAYONNE NJ 142 BROAD STREET ELIZABETH NJ 36 FERRY STREET NEWARK NJ 198 JEFFERSON STREET NEWARK NJ 2624 MORRIS AVENUE UNION NJ 133 S. LIVINGSTON AVENUE LIVINGSTON NJ New York 30TH AVENUE, ASTORIA, NY 625 ATLANTIC AVENUE BROOKLYN NY 102 DUFFY AVENUE HICKSVILLE NY 1608 KINGS HIGHWAY HOMECREST (BKLYN) NY 66-77 FRESH POND ROAD RIDGEWOOD NY 65-30 KISSENA BLVD. FLUSHING NY 509 OLD COUNTRY ROAD PLAINVIEW NY 194-02 NORTHERN BOULEVARD FLUSHING NY 100 JERICHO QUADRANGLE JERICHO NY Ohio ONE NORTH HAWKINS AVE. AKRON OH Flagstar's stock price soars since closure announcement While many people prefer the ease and convenience of online banking, closures of physical bank branches can still have a negative impact on communities and certain groups of individuals. This is particularly true for older individuals who may not be as adept at using the internet or app-based banking, or who may simply prefer to visit a physical branch location to discuss their banking needs with a representative. Still, financial companies looking to cut costs often turn to branch closures as the quickest way to do so (that, and employee layoffs). And investors in those banks generally react favorably to those types of moves. Indeed, since Flagstar announced in January that it would close 60 branches, the company's stock price (NYSE: FLG) has soared. At the start of the year, FLG stock was trading in the $9 range. But by the end of January, after the company announced the branch closures, FLG stock jumped to nearly $12 per share. Year-to-date, FLG stock is currently up over 27% as of the time of this writing. On April 25, Flagstar Financial announced its Q1 2025 earnings, in which the company revealed that its operating expenses declined 22% year-over-year. The company says that as of March 31, Flagstar Bank held $97.6 billion in total assets, $73.9 billion in total deposits, and operated approximately 400 locations. Its online branch locator tool shows that as of today, there are 363 Flagstar Bank locations in the United States.
Yahoo
05-06-2025
- Business
- Yahoo
FLAGSTAR FINANCIAL, INC. TO PARTICIPATE IN THE MORGAN STANLEY U.S. FINANCIALS CONFERENCE
HICKSVILLE, N.Y., June 5, 2025 /PRNewswire/ -- Flagstar Financial, Inc. (NYSE: FLG) (the "Company") announced today that Chairman, President, and Chief Executive Officer Joseph Otting and Senior Executive Vice President and Chief Financial Officer Lee Smith will participate in the Morgan Stanley U.S. Financials Conference in New York City, on Wednesday, June 11, 2025 at 12:15 p.m. (ET). A live audio-only webcast will be available at the Company's website, A replay of the webcast will be available by end of day and will be archived at the Company's website through 5:00 p.m., on Wednesday, July 9, 2025. About Flagstar Financial, Inc. Flagstar Financial, 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. At March 31, 2025, the Company had $97.6 billion of assets, $67.1 billion of loans, deposits of $73.9 billion, and total stockholders' equity of $8.2 billion. Flagstar Bank, N.A. operates approximately 400 locations across nine states, with strong footholds in the greater New York/New Jersey metropolitan region and in the upper Midwest, along with a significant presence in fast-growing markets in Florida and the West Coast. Investor Contact: Salvatore J. DiMartino(516) 683-4286 Media Contact: Steven Bodakowski(248) 312-5872 View original content to download multimedia: SOURCE Flagstar Financial, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-04-2025
- Business
- Yahoo
Black Bear Value Fund's Views on Flagstar Financial (FLG)
Black Bear Value Partners, an investment management firm, published its first-quarter 2025 investor letter. A copy of the letter can be downloaded here. Black Bear Value Fund returned +0.8% in March and -1.3% YTD and the S&P 500 returned -5.7% in March and -4.3% YTD. HFRI Value Index returned -2.0% in March and -0.5% YTD. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first quarter 2025 investor letter, Black Bear Value Fund emphasized stocks such as Flagstar Financial, Inc. (NYSE:FLG). Flagstar Financial, Inc. (NYSE:FLG) is a bank holding company that provides banking products and services. The one-month return of Flagstar Financial, Inc. (NYSE:FLG) was -10.81%, and its shares gained 17.12% of their value over the last 52 weeks. On April 8, 2025, Flagstar Financial, Inc. (NYSE:FLG) stock closed at $10.40 per share with a market capitalization of $4.31 billion. Black Bear Value Fund stated the following regarding Flagstar Financial, Inc. (NYSE:FLG) in its Q1 2025 investor letter: "Flagstar Financial, Inc. (NYSE:FLG) is the former New York Community Bank (a mashup of Flagstar Bank, New York Community Bank and assets from Signature Bank). Like our SHORT investments in Silicon Valley Bank and First Republic, FLG had a hole in their balance sheet (from soured multifamily and office real estate vs. long duration securities). That is where the similarities end. A business professional banking from their laptop, taking advantage of the company's investment services. Flagstar Financial, Inc. (NYSE:FLG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held Flagstar Financial, Inc. (NYSE:FLG) at the end of the fourth quarter compared to 25 in the third quarter. While we acknowledge the potential of Flagstar Financial, Inc. (NYSE:FLG) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. We covered Flagstar Financial, Inc. (NYSE:FLG) in another article, where we shared the list of best performing bank stocks so far in 2025. In the previous quarter, Black Bear Value Partners increased its stake in Flagstar Financial, Inc. (NYSE:FLG). In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Associated Press
02-04-2025
- Business
- Associated Press
FLAGSTAR FINANCIAL, INC. TO REPORT FIRST QUARTER 2025 EARNINGS AND HOST CONFERENCE CALL ON APRIL 25TH
HICKSVILLE, N.Y., April 2, 2025 /PRNewswire/ -- Flagstar Financial, Inc. (NYSE: FLG) (the 'Company') today announced that it plans to issue results for the three months ended March 31, 2025 at approximately 6:00 a.m. Eastern Time (ET) on Friday, April 25, 2025. The earnings release and presentation will be posted to the Investor Relations portion of the Company's website, shortly after issuance. The Company will conduct a conference call at 8:00 a.m. (ET) on the same date, during which Chairman, President, and Chief Executive Officer, Joseph M. Otting and Senior Executive Vice President and Chief Financial Officer, Lee Smith will discuss the Company's first quarter 2025 performance. Conference Call Dial-In Instructions: Once you dial-in to the call, please enter the conference ID (5857240) and press #. You will then be prompted to provide your name and company name before being placed directly into the call. Participants should dial-in at least 15 minutes in advance of the call start time. The conference call will be simultaneously webcast at and archived through 5:00 p.m. on May 23, 2025. Conference Call Details: About Flagstar Financial, Inc. Flagstar Financial, 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. At December 31, 2024, the Company had $100.2 billion of assets, $69.2 billion of loans, deposits of $75.9 billion, and total stockholders' equity of $8.2 billion. Flagstar Bank, N.A. operates over 400 locations across 10 states, including a significant presence in the Northeast and Midwest and locations in high growth markets in the Southeast and West Coast. In addition, the Bank has approximately 80 private banking teams located in over 10 cities in the metropolitan New York City region and on the West Coast, which serve the needs of high-net worth individuals and their businesses. Investor Contact: Media Contact:
