Flagstar Bancorp Expands Retail Banking Presence in Michigan with New Banking Center

Flagstar Bancorp, Inc. has announced the opening of its newest banking center in Grand Haven, Michigan, marking the ninth new location the company has opened in 1998. This new banking center features the unique sit-down teller environment introduced by Flagstar earlier in the year and offers drive-up and ATM banking services. The new location represents a 47% increase in Flagstar's retail banking branch network during the year, bringing the total number of bank branches to 28, with an additional 33 loan origination centers and 15 correspondent lending offices across the United States.

Key Takeaways:

• Flagstar Bancorp has opened its ninth new banking center in 1998, located at 17034 Robbins Rd. in Grand Haven, Michigan.
• The new banking center features the unique sit-down teller environment introduced by Flagstar earlier in 1998 and offers drive-up and ATM banking services.
• The opening of this new banking center represents a 47% increase in Flagstar's retail banking branch network during the year, bringing the total number of bank branches to 28.
• Vice Chairman and President Mark T. Hammond stated that Flagstar is pleased to open its third banking center in Ottawa County and plans to open one more banking center in Ottawa County in the near future.
• The Holland banking centers opened in October and November have achieved record deposit volume for the first month of operation.

Statistics:

• 47% increase in Flagstar's retail banking branch network during the year
• 28 bank branches currently operating in southern and western Michigan
• 33 loan origination centers operating in Michigan, Florida, and Ohio
• 15 correspondent lending offices located across the United States
• Flagstar Bank is one of the largest originators of residential mortgage loans in the United States
• Grand Haven banking center located at 17034 Robbins Rd. in Grand Haven, Michigan

Sources:

• Flagstar Bancorp, Inc. press release, December 9, 1998.