-
Flagstar Bancorp in Troy, Mich., reported a third-quarter profit, as it originated more residential mortgages and recorded higher fee income.
October 27 -
After a "landmark" first-quarter driven by mortgage origination gains, Flagstar Bancorp is counting on mortgage servicing and community banking to spur future growth.
June 2 -
Flagstar Bancorp in Troy, Mich., beat expectations as it reported stronger mortgage volume in the first quarter. The company reported net income of $31.5 million in the first quarter versus a profit of $11.1 million in the previous quarter and a loss of $78.4 million a year ago.
April 28
Flagstar Bancorp in Troy, Mich., has picked Andrew Ottaway for the newly created position of managing director of lending.
Ottaway will lead the $12.5 billion-asset bank's nonmortgage lending activities, including commercial real estate, large corporate lending, middle-market and warehouse lending. He will also have responsibilities in connection with consumer finance, equipment finance, government banking, treasury management and strategic alliances.
"We are pleased to have someone with [Ottaway's] strong experience, Michigan background, and professionalism join Flagstar in this very important role," Chief Executive Alessandro DiNello said in a news release this week. "Building the bank's balance sheet will be critical to the continued diversification of our earnings, and [Ottaway] will play a big part in that effort."
Before joining Flagstar, Ottaway most recently served as senior vice president and chief credit officer for wealth management and retail banking at Comerica Bank. A Comerica spokesman told American Banker that the company has not yet named his replacement.
