KBRA Comments on Flagstar Bancorp, Inc.’s Proposed Acquisition of Select Branches and Deposits from Wells Fargo Bank
Flagstar Bancorp, Inc. (FBC)
Last flagstar bancorp, inc. earnings: 4/28 06:30 am
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US:NYSE Investor Relations:
flagstar.com/about-flagstar.html
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)-- Kroll Bond Rating Agency (KBRA) releases a comment on Flagstar Bancorp, Inc. KBRA views the proposed Wells Fargo Bank, N.A. branch and deposit acquisition favorably for Flagstar Bancorp, Inc.’s (NYSE: FBC) creditors. In KBRA’s view, this purchase is strategically compelling, with limited potential downside compared to many transactions. In conjunction with the recently completed DCB branch acquisition, the proposed Wells Fargo branch acquisition would propel significant branch network expansion in a relatively short timeframe and create notable funding flexibility to continue to grow the balance sheet going forward. In terms of funding base impact, the acquisition of these low cost, low beta deposits would allow FBC to immediately pay down FHLB borrowings as well as reduce rate sensitivity on the funding side. The
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