Highest-materiality recent filing
Flagstar Bank extends CEO Otting's term to March 2028; appoints Raffetto and Smith as Co-Presidents
Joseph Otting's employment extended as CEO through March 6, 2028; base salary rises to $1.4M from Mar 2027.
Flagstar Bank Q1 2026 net income $13M ($0.03 GAAP); adjusted EPS $0.04; C&I loans up 9% QoQ
Net income attributable to common stockholders $13M ($0.03 diluted); adjusted net income $20M ($0.04).
Flagstar returns to profitability in Q4 2025 with EPS $0.05; NIM expands 23 bps to 2.14%
Net income $29M vs net loss of $36M in Q3 2025; diluted EPS $0.05 (adjusted $0.06).
Flagstar Bank Q3 net loss narrows to $0.11/share; NIM improves to 1.91%
Net loss attributable to common stockholders of $45M ($0.11/diluted share); adjusted loss $0.07/share, improved from Q2 loss of $0.19/share.
Shareholders voted 323,484,538 in favor (99.8% of votes cast) to approve merger of Company into wholly-owned subsidiary Flagstar Bank, N.A.
Flagstar secures voting agreements from ~35% holders for merger with bank subsidiary
Liberty, Hudson Bay, and Reverence, holding ~35.05% of common stock, agreed to vote for merger and conversion at Oct 15 special meeting.
Flagstar Q2 2025 net loss $0.19/share; adjusted loss $0.14; C&I originations up 57%
Net loss attributable to common stockholders of $78M ($0.19/diluted share); adjusted net loss $60M ($0.14/diluted share).
Flagstar Financial to merge into bank subsidiary, eliminating holding company structure
Company (FLG) will merge into Flagstar Bank, N.A.; Bank survives, retains name and NYSE ticker FLG.
Flagstar Q1 GAAP loss $0.26/diluted; C&I originations up 42% QoQ, NIM stabilizes
Net loss attributable to common stockholders $108M ($0.26/diluted); adjusted net loss $94M ($0.23/diluted).
GAAP net loss attributable to common stockholders of $0.41 per diluted share; adjusted net loss $0.34 per diluted share.
Flagstar Financial appoints Brian Callanan to board, Lee Smith as CFO effective Dec 27
Brian Callanan appointed to board effective Dec 16, filling vacancy from Peter Schoels resignation; term expires at 2025 annual meeting.
Flagstar completes $1.3B sale of mortgage servicing assets to Mr. Cooper subsidiary
Closed sale of mortgage servicing rights, subservicing contracts and origination assets to Nationstar for ~$1.3B cash on Oct 31, 2024.
NYCB reports Q3 net loss of $289M; deposits up $4B, NIM declines to 1.79%
Q3 GAAP net loss of $289M ($0.79/diluted share); non-GAAP net loss of $252M ($0.69/share).
Flagstar Bank (NYCB subsidiary) cuts 8% of workforce (~700 jobs); expects $20M charges in Q4 2024
~700 employees (8% of workforce) cut; expects $20M one-time cash charges for severance, mostly in Q4 2024.
Liberty exchanged 114,355 Series B shares for 38,118,329 common shares; Hudson Bay exchanged 13,600 Series B shares for 4,533,331 common shares.
NYCB exchanges 63,357 Series B preferred shares for 21.1M common shares with three investors
Liberty 77 Capital exchanged 29,000 Series B shares for 9,666,665 common shares; Hudson Bay exchanged 22,500 Series B for 7,499,998 common; Reverence exchanged 11,857 Series B for 3,952,332 common.
NYCB subsidiary Flagstar selling mortgage servicing business to Mr. Cooper for $1.4B
Purchase price ~$1.4B cash; expected to close Q4 2024.
NYCB posts Q2 2024 GAAP net loss of $1.14 per share; deposits up 5.6% sequentially
Net loss of $323M; GAAP diluted EPS loss of $1.14; adjusted EPS loss of $1.05.
NYCB announces 1-for-3 reverse stock split effective July 11, 2024
Reverse split ratio of 1-for-3, effective at 5:01 p.m. ET on July 11, 2024 after NYSE close.
NYCB completes FDIC-assisted acquisition of Signature Bridge Bank assets; net assets acquired $2.1B
Acquired assets with estimated total fair value of $37.8B, including $24.9B cash and $11.7B loans, net of ACL.
Authorized common shares increased from 900M to 2B; total stock authority raised to 2.005B shares.
NYCB CEO Joseph Otting named Executive Chairman; DiNello steps down as Non-Executive Chairman
CEO Joseph M. Otting appointed Executive Chairman of NYCB and Flagstar Bank, effective June 5, 2024.
COO Julie-Ann Signorille-Browne resigns from New York Community Bancorp
Resigned as Senior Executive Vice President and COO, effective May 24, 2024.
NYCB reports Q1 net loss of $327M; targets 1% ROAA by Q4 2026
Net loss of $327M; diluted EPS -$0.45; adjusted net loss $174M (-$0.25 adjusted EPS).
Richard Raffetto, Senior Executive Vice President and President of Commercial and Private Banking of the Bank, and Lee Smith, Senior Executive Vice President and Chief Financial Officer of the Bank, will serve as Co-Presidents and Co-Chief Operating Officers of the Bank, effective immediately.
Bao Nguyen, Senior Executive Vice President, General Counsel and Chief of Staff of the Bank, will become the Bank’s Chief Legal Officer and remain Chief of Staff
Peter Sullivan, Senior Deputy General Counsel and Chief Regulatory Counsel of the Bank, will become the Bank’s General Counsel
Joseph M. Otting, Executive Chairman, President, and Chief Executive Officer, will relinquish the title and role of President, while continuing to serve as Executive Chairman and Chief Executive Officer
Richard Raffetto, Senior Executive Vice President and President of Commercial and Private Banking of the Bank, and Lee Smith, Senior Executive Vice President and Chief Financial Officer of the Bank, will serve as Co-Presidents and Co-Chief Operating Officers of the Bank, effective immediately.
On October 24, 2024, Mr. Peter Schoels notified New York Community Bancorp, Inc. (the “Company”) of his resignation as a member of the Board of Directors of the Company and the Board of Directors of Flagstar Bank, N.A., a wholly owned subsidiary of the Company, effective October 25, 2024.
named President and Chief Executive Officer, Joseph M. Otting, to the additional role of Executive Chairman of the Board of Directors of both the Company and Flagstar Bank, N.A. (the “Bank”), effective as of close of business on June 5, 2024.
Alessandro P. DiNello will step down from his role as Non-Executive Chairman of the Company and the Bank as of the close of business on June 5, 2024.
On May 10, 2024, Julie-Ann Signorille-Browne, Senior Executive Vice President and Chief Operating Officer of New York Community Bancorp, Inc. (“NYCB” or the “Company”), resigned from such role, effective as of May 24, 2024.
On April 12, 2024, New York Community Bancorp, Inc. (“NYCB” or the “Company”) announced that Craig Gifford was appointed as Senior Executive Vice President and Chief Financial Officer of the Company and Flagstar Bank, N.A., a wholly owned subsidiary of the Company (the “ Bank ”), effective immediately.
Mr. Shepherd succeeds John T. Adams, who ceased serving as Senior Executive Vice President and Head of Commercial Real Estate of the Company and the Bank on April 12, 2024.
Mr. Gifford succeeds John J. Pinto, who ceased serving as Senior Executive Vice President and Chief Financial Officer of the Company and the Bank on April 12, 2024.
Max materiality 0.85 · Median 0.55 · Most common event other_material