Attached files
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EX-1.1 - EX-1.1 - FLAGSTAR BANCORP INC | k49057exv1w1.htm |
EX-5.1 - EX-5.1 - FLAGSTAR BANCORP INC | k49057exv5w1.htm |
8-K - FORM 8-K - FLAGSTAR BANCORP INC | k49057e8vk.htm |
Exhibit 99.1
NEWS RELEASE For more information, contact: |
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Paul D. Borja Executive Vice President / CFO (248) 312-2000 |
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FOR IMMEDIATE RELEASE |
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Flagstar Bancorp, Inc. Announces Pricing of Common Stock Offering
TROY, Mich., March 26, 2010 Flagstar Bancorp, Inc. (NYSE: FBC) (the Company), the holding
company for Flagstar Bank, FSB (the Bank), announced today that it has priced a public offering
of 500 million shares of common stock to the public at $0.50 per share for total gross proceeds of
approximately $250.0 million. The Company expects to close the sale of the shares of common stock
on March 31, 2010, subject to customary closing conditions. The underwriters will have a 30-day
option to purchase up to an additional 75 million shares of common stock from the Company at the
offering price, less underwriters discounts and commissions solely to cover over-allotments. The
public offering is being underwritten by Sandler ONeill & Partners, L.P., as book-running manager,
and Keefe, Bruyette & Woods, Inc., as co-manager.
The Company has filed a preliminary prospectus supplement to its already effective registration
statement with the SEC for the offering to which this communication relates. Before investing,
prospective investors should read the preliminary prospectus supplement and related prospectus and
other documents that the Company files with the SEC for more complete information about the Company
and the offering. Investors may obtain these documents without charge by visiting EDGAR on the SEC
website at http://www.sec.gov. Alternatively, copies of the prospectus relating to the offering
may be obtained from Sandler ONeill & Partners, L.P., 919 Third Avenue, 6th Floor, New York, NY
10022, (866) 805-4128.
The Company is a savings and loan holding company headquartered in Michigan with $14.0 billion in
total assets as of December 31, 2009. At December 31, 2009, the Company operated 165 banking
centers in Michigan, Indiana and Georgia and 23 home loan centers in 14 states and originates
residential mortgage loans nationwide.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the
securities described herein, nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction.
Matters discussed in this press release contain forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, that involve substantial risks and uncertainties, including but not
limited to the risk that, because of business, economic or market conditions or for any other
reasons within or outside of the Companys discretion, the offering may not be consummated. In
addition to the risks and uncertainties identified above, reference is also made to other risks and
uncertainties detailed in reports filed by the Company with the SEC. The Company cautions that the
foregoing risks and uncertainties are not exclusive.