Flagstar Financial (FLG) announced it has received the required approvals from the Office of the Comptroller of the Currency to merge the company and Flagstar Bank, whereby the company will merge with and into the Bank, with the Bank as the surviving entity. The resulting entity will continue to be known as Flagstar Bank, N.A. and stock of the company currently listed for trading on the New York Stock Exchange will continue to be listed on the NYSE by Flagstar Bank, N.A., under the same ticker symbol currently used by the company – “FLG”. The Reorganization is also subject to shareholder approval. Assuming receipt at the Special Meeting of Shareholders to be held on Wednesday, October 15th, the company expects to consummate the Reorganization in mid- to late-October.
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