The low-cost deposits it gained in its purchase of 52 Wells Fargo branches, combined with higher interest rates, lifted Flagstar's net interest margin.
Associated Banc-Corp in Green Bay, Wis., said Wednesday that it will close 17 branches as part of a previously announced deal to buy 32 branches from Huntington Bancshares.
Balances from the 52 branches Flagstar bought from Wells Fargo fell by 22% between the deal's announcement and closing, forcing the Michigan company to adjust the math for earning back tangible book value.