Attached files
file | filename |
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8-K - FORM 8-K - FLAGSTAR BANCORP INC | k49925e8vk.htm |
EX-3.1 - EX-3.1 - FLAGSTAR BANCORP INC | k49925exv3w1.htm |
Exhibit 99.1
NEWS RELEASE | |||
For more information, contact: | |||
Paul D. Borja | |||
Executive Vice President / CFO | |||
Bradley T. Howes | |||
Investor Relations Officer | |||
(248) 312-2000 | |||
FOR IMMEDIATE RELEASE |
Flagstar Announces Results of Special Meeting of Stockholders
TROY, Mich., December 21, 2010 Flagstar Bancorp, Inc. (NYSE: FBC) (the Company), the holding
company for Flagstar Bank, FSB (the Bank), held a special meeting of stockholders today at the
Companys National Headquarters located at 5151 Corporate Drive, Troy, Michigan. At the special
meeting, stockholders approved the proposal to increase the number of shares of common stock, $0.01
par value per share (the Common Stock), issuable by the Company from 300,000,000 to 700,000,000.
As a result of the stockholder approval, each share of the Companys Mandatorily Convertible
Non-Cumulative Perpetual Preferred Stock, Series D outstanding will automatically convert into 20
shares of Common Stock as of the close of business on the mandatory conversion date, or December
22, 2010. In the aggregate, 14,192,250 shares of Mandatorily Convertible Non-Cumulative Perpetual
Preferred Stock, Series D outstanding will automatically convert into 283,845,000 shares of Common
Stock. The Mandatorily Convertible Non-Cumulative Perpetual Preferred Stock, Series D was issued
as part of the Companys $400 million public offerings completed in November 2010. After the
conversion, the Company will have approximately 553,270,960 shares of Common Stock outstanding.
Flagstar Bancorp, with $13.8 billion in total assets, is the largest publicly held savings bank
headquartered in the Midwest. At September 30, 2010, Flagstar operated 162 banking centers in
Michigan, Indiana and Georgia and 27 home loan centers in 13 states. Flagstar Bank originates loans
nationwide and is one of the leading originators of residential mortgage loans.