Flagstar Bancorp, Inc. is the largest publicly traded savings bank in the Midwest. Its subsidiary is Flagstar Bank. In October 2008, the Company operated 175 banking centers in Michigan, Indiana and Georgia. In January 2009 a private equity firm, MattlinPatterson Global Advisors, invested $350 million to purchase a 70% share of Flagstar. Flagstar also shares naming rights to the Detroit Free Press/Flagstar Marathon. Flagstar Bancorp is headquartered in Troy, Michigan. Flagstar Bancorp received $266.7 million through the Treasury Department’s Capital Purchase Program, in exchange for 266,657 shares of the Company’s Fixed Rate Cumulative Perpetual Preferred Stock, Series C and a warrant to purchase up to 64,513,790 shares of the Company’s common stock.
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Bailout Bank Bio: Flagstar Bancorp
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Federal Equity Investment |
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Total Revenue |
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Net Income |
-$39.23 million |
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Number of Employees |
3,291 |
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Corporate Headquarters |
Troy, Michigan |
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Business Sector |
Bank |
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Officers and Directors |
Hammond, Mark, Vice Chairman of the Board, President, Chief Executive Officer of the Company and the Bank |
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Corporate Website |
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Executive Compensation |
2009-01-30 Flagstar 8K Treasury Agmt
2009-01-30 Flagstar 8K Purchase By MP
No federal contracts located.
No lobbying reports located.
Center for Responsive Politics (last accessed 03/23/2009)
February 18, 2009 Flagstar gets $25 mln investment from MatlinPatterson Reuters
February 14, 2009 Flagstar Bancorp gets another $100 million from New York firm Crain's Detroit Business
January 30, 2009 Flagstar Bancorp reports loss of $257.3 million for 2008 Crain's Detroit Business
January 30, 2009 Flagstar losses mount; help coming Lansing State Journal
Last Updated March 23, 2009
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