The Troy, Mich., company is operating unfettered by regulatory orders for the first time in a decade, and its CEO says Flagstar now has the flexibility to pull the trigger faster on deals and accelerate its diversification beyond mortgages.
Seven credit unions have asked Michigan's banking regulator for permission to launch a trust company, a move that bankers says oversteps that industry's role of helping people of "modest means."
The Ohio company said low unemployment is keeping business clients from expanding, while higher asking prices are forcing it to avoid bank acquisitions.
Level One Bank in Farmington, Mich., has hired a team of mortgage bankers from MB Financial, which previously announced it was shutting down this business line.
