Company data sheet · Flagstar Bank, National Association
Flagstar Bank, National Association: from profit to three straight losses.
- Industry
- Savings Institutions, Not Federally Chartered
- Ticker
- FLG (NYSE)
- Sources
- SEC filings (1996–2026), Stratrix's verified Decision Cases, market data and official economic statistics
- Data as of
- November 15, 2026
- From profit to three straight losses. Flagstar Bank, National Association earned $1.8 billion in 2020–2022. Then it lost money every year from 2023 to 2025: $1.4 billion in all.
- Still smaller than it was. Revenue reached $0 billion in 2022, 17% below its 2016 peak of $0 billion.
- Leaders came and went. Flagstar Bank, National Association filed 29 leadership changes since 2016, more than 85% of large financial companies (the median is 15). The day after each, its shares fell a median 0.5 points against its sector.
Financial results
| Fiscal year | Revenue | Net income | |
|---|---|---|---|
| 2016 | $0 billion | $0.5 billion | |
| 2017 | $0 billion | $0.5 billion | |
| 2018 | $0 billion | $0.4 billion | |
| 2019 | $0 billion | $0.4 billion | |
| 2020 | $0 billion | $0.5 billion | |
| 2021 | $0 billion | $0.6 billion | |
| 2022 | $0 billion | $0.7 billion |
As reported in its annual filings. Losses in red.
Has Flagstar Bank, National Association had layoffs?
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 8,766 employees | At December 31, 2023 |
| 10-K for 2024 | 6,993 | At December 31, 2024 |
| 10-K for 2025 | 5,631 | December 31, 2025 |
Job cuts, severance and restructuring
Severance costs related to the company's cost optimization strategy were recorded during 2024.
“Included in the full-year 2024 total of non-interest expenses were certain notable items related to actions the Company took during the year ended 2024 , including severance costs of $31 million related to our cost optimization strategy.” 10-K for 2024
Asset impairment charges were recorded related to plans to close certain operating centers and retail locations.
“In addition, we recorded asset impairment charges of $77 million related to plans to close certain operating centers and retail locations which are expected to reduce non-interest expense in the future.” 10-K for 2024
Merger-related and restructuring expenses were recorded for the sale of the mortgage warehouse business and the sale of the mortgage servicing and third-party origination business, along with severance costs and long-term asset impairment charges for various properties.
“Several notable items included in the results for the year ended 2024 include a $121 million reduction in the bargain purchase gain arising from the Signature Transaction, $103 million of merger-related and restructuring expenses related to the sale of our mortgage warehouse business, the sale of our mortgage servicing and third-party origination business, as well as severance costs and long-term asset impairment charges related to various Company-owned or leased properties.” 10-K for 2024
The company took cost optimization actions during 2024 that lowered compensation and benefits costs and total non-interest expenses in 2025.
“The decrease is primarily due to lower compensation and benefits costs stemming from the actions taken to optimize costs during 2024, and a decrease in general and administrative expenses primarily due to the sale of our Mortgage Operations in 2024 as well as our continued focus on operating expense management.” 10-K for 2025
Flagstar Bank, National Association filed 1 restructuring notice (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
What has Flagstar Bank, National Association acquired?
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
Signature Bridge Bank“These year-to-date increases were primarily due to our March 20, 2023, assumption of a substantial amount of the deposits and certain identified liabilities and the acquisition of certain assets and lines of business of Signature Bridge Bank, from the FDIC as receiver for Signature Bridge Bank (the “Signature Transaction”).” 10-K for 2023 | acquisition | March 20, 2023 | — |
Atlantic Bank of New York“The Parent Company also has one non-banking subsidiary that was established in connection with the acquisition of Atlantic Bank of New York and two non-banking insurance subsidiaries that were acquired in connection with the Flagstar acquisition.” 10-K for 2023 | acquisition | — | — |
Signature Bridge Bank, N.A. (certain assets and liabilities, Signature Transaction)“Soon after closing the 2022 acquisition of Flagstar Bank, in 2023 we were selected by the FDIC to purchase certain strategically and financially attractive assets and liabilities of Signature.” 10-K for 2024 | acquisition | — | — |
Mortgage servicing rights assets and mortgage warehouse, mortgage servicing and third-party origination businesses“To further position ourselves for long-term success, we took actions to simplify our business model and sold certain parts of our mortgage business, including our mortgage servicing right assets and the mortgage warehouse, mortgage servicing and third-party origination businesses.” 10-K for 2024 | divestiture | — | — |
Mortgage servicing, subservicing, and third-party origination activities“As a result of the sale of our mortgage servicing, subservicing, and third-party origination activities during 2024, substantially all income associated with mortgage servicing rights of $73 million, and loan administration income ceased upon completion of these non-core sales on October 31, 2024.” 10-K for 2024 | divestiture | October 31, 2024 | — |
Mortgage warehouse lending portfolio“The decrease was primarily driven by the sale of the warehouse lending portfolio in the third quarter, along with reductions in commercial and industrial loans where we made strategic decisions to decrease the size of some of our lending positions and exit certain non-relationship-based customers.” 10-K for 2024 | divestiture | — | — |
Mortgage servicing rights assets“We currently expect to sell those mortgage servicing rights in the first quarter 2025 at a price consistent with the recorded value at December 31, 2024, and have classified these assets as held for sale.” 10-K for 2024 | agreed divestiture | First quarter 2025 | consistent with the recorded value at December 31, 2024 |
| Fiscal year ended | Goodwill from acquisitions |
|---|---|
| 2020-12-31 | $0 |
| 2021-12-31 | $0 |
| 2022-12-31 | $0 |
Deal filings since 2016
- 2025-10-20 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2025-10-20 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2025-08-22 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2024-11-06 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2024-09-24 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2024-08-13 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2024-07-29 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2024-06-13 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2024-03-14 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2023-03-20 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2023-03-20 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2022-12-01 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2022-10-28 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2022-04-27 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2021-04-27 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2018-11-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2017-03-16 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
What are Flagstar Bank, National Association's subsidiaries?
Subsidiaries it lists
| Subsidiary | Jurisdiction |
|---|---|
| 100 Duffy Realty, LLC | New York |
| Beta Investments, Inc. | Delaware |
| BSR 1400 Corp. | New York |
| Ferry Development Holding Company | Delaware |
| Flagstar Specialty Finance Company, LLC | Delaware |
| NYB Realty Holding Company, LLC | New York |
| NYCB Insurance Agency, Inc. | New York |
| Pacific Urban Renewal, Inc. | New Jersey |
| Synergy Capital Investment, Inc. | New Jersey |
| NYCB Mortgage Company, LLC | Delaware |
| Woodhaven Investments, LLC | Delaware |
| Flagstar REO, LLC | Delaware |
| Flagstar Mortgage Securities, LLC | Delaware |
| Flagstar Real Estate Holdings, Inc. | Michigan |
| Flagstar Investment, LLC | Michigan |
| Flagstar Opportunities, LLC | Michigan |
| Grass Lake Insurance Agency, Inc. | Michigan |
| FSB-Optimum Investment Fund I LLC | Michigan |
| Flagstar-Petros Fund I, LLC | Michigan |
| Flagstar Financing & Leasing, LLC | New York |
| Flagstar Advisors, Inc. | New York |
| Flagstar Public Funding Corp. | New York |
| 1400 Corp. | New York |
| Flagstar Opportunities Fund Limited Partnership | Delaware |
| Prospect Realty Holding Company, LLC | New York |
| Walnut Realty Holding Company, LLC | Delaware |
| Long Lake REIT | Maryland |
| Long Lake MSR, Inc. | Maryland |
From Exhibit 21 of the 10-K for 2025. Companies must list their significant subsidiaries there and may leave out smaller ones, so this is the company’s own list, not every entity it owns.
Layoffs, acquisitions, competitors and subsidiaries are read from Flagstar Bank, National Association’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023), as of 2026-02-27.
The full data sheet · Data Plan
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