Flagstar Financial to merge into bank subsidiary, eliminating holding company structure

FLAGSTAR BANK, NATIONAL ASSOCIATION

Company (FLG) will merge into Flagstar Bank, N.A.; Bank survives, retains name and NYSE ticker FLG.
Reorganization subject to shareholder vote and regulatory approvals; expected close before year-end 2025.
CEO Joseph Otting says move reduces costs, simplifies structure, accelerates mission.
At March 31, 2025, Flagstar had $97.6B assets, $73.9B deposits, $8.2B equity.
No change in stock rights; shares convert into equivalent Bank shares; tax-free under Section 368(a).

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