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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.

money 1428594 640 small 100x100The 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.

Read the full article from Detroit Free Press.

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