The all-stock deal is set to close by the end of 2021, following sign-offs from shareholders and regulators.
The Flagstar Bank brand name would continue to exist, while the bank’s main offices would be on Long Island in New York.
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Flagstar Bought By New York Community in $2.6B Deal
New York Community Bancorp is purchasing Troy, Mich.-based Flagstar Bank in a tentative $2.6 billion agreement. So reports the Detroit Free Press.
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