secwatch.observer — SEC 8-K summary
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Issuer:     FLAGSTAR BANK, NATIONAL ASSOCIATION (FLG)
CIK:        0000910073
Form:       8-K
Filed at:   2022-12-01T23:59:59+00:00
Accession:  0001193125-22-295967
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.01, 2.03, 5.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NYCB completes acquisition of Flagstar Bancorp, creating 24th largest regional bank
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- Flagstar shareholders received 4.0151 NYCB shares per Flagstar share; combined bank ranks top 25 by assets.
- Board expanded to 14 directors; Alessandro DiNello named Non-Executive Chairman, Thomas Cangemi remains President/CEO.
- NYCB assumed ~$247M in trust preferred securities and $150M of 4.125% subordinated notes due 2030.
- Former Flagstar executives Lee M. Smith (President of Mortgage) and Reginald E. Davis (President of Banking) appointed.
- Bylaws amended to require 75% board vote to remove CEO or Chairman during 24-month post-merger period.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/910073/000119312522295967/0001193125-22-295967-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/910073/000119312522295967/d405764d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-295967

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer