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Section 1: 8-K (8-K)

Document


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 

FORM 8-K
 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 29, 2019

 396549008_flagstara09a01a03.jpg
(Exact Name of Registrant as Specified in Charter)
  
 
Michigan
 
1-16577
 
38-3150651
(State or Other Jurisdiction
of Incorporation
 
(Commission File Number)
 
(IRS Employer
Identification No.)
 
5151 Corporate Drive, Troy, Michigan
 
48098
(Address of Principal Executive Offices)
 
(Zip Code)
(248) 312-2000
(Registrant's telephone number, including area code)
  
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):  
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (17 CFR 230.405) or Rule 12b-2 of the Exchange Act (17 CFR 240.12b-2).
Emerging growth company
o
 
 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act. o







Item 8.01
Other events
Flagstar Bancorp, Inc., (the "Company") the holding company for Flagstar Bank, FSB, today announced its Board of Directors has approved both the initiation of a quarterly dividend and a $50 million share repurchase program. Shareholders of record on March 1, 2019 will receive a quarterly dividend of $0.04 per share on March 15, 2019.
A copy of the Company's press release announcing the approval of the dividend is attached as Exhibits 99.1 to this Form 8-K and is incorporated herein by reference.

Item 9.01
Financial Statements and Exhibits
 Exhibits
 
 
 
 
99.1
 






SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 
 
 
 
 
 
 
 
 
FLAGSTAR BANCORP, INC.
 
 
 
 
Dated: January 30, 2019
 
 
 
By:
 
/s/    James K. Ciroli
 
 
 
 
 
 
James K. Ciroli
 
 
 
 
 
 
Executive Vice President and Chief Financial Officer

Exhibit Index
 
Exhibit No.
  
Description
 
 
 
 
99.1
  



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Section 2: EX-99.1 (EXHIBIT 99.1)

Exhibit


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NEWS RELEASE
For more information, contact:        
Susan Bergesen susan.bergesen@flagstar.com
(248) 312-6237
                                
                                        
Flagstar Initiates Dividend and $50 Million Share Repurchase

Action reflects strength of underlying business and confidence in future earnings prospects


TROY, Mich., Jan. 30, 2019 - Flagstar Bancorp, Inc. (NYSE: FBC), the holding company for Flagstar Bank, FSB, today announced its Board of Directors has approved both the initiation of a quarterly dividend and a $50 million share repurchase program. Shareholders of record on March 1, 2019 will receive a quarterly dividend of $0.04 per share on March 15, 2019.

“The ability to offer a dividend and stock buyback is a really positive sign of how much progress we’ve made over the last few years,” said Alessandro DiNello, president and chief executive officer of Flagstar Bancorp, Inc. “The initiation of a dividend reflects the underlying strength and diversity of our business and confidence in our future earnings prospects, while the share buyback program represents an attractive return on capital with our stock trading at such a low multiple of its tangible book value.

“We find ourselves with ample liquidity, strong capital and solid asset-generating capabilities to support our growth strategy and continue to execute on our strategic plan. We are pleased to be in a position to return value to our shareholders.”

About Flagstar

Flagstar Bancorp, Inc. (NYSE: FBC) is an $18.5 billion savings and loan holding company headquartered in Troy, Mich. Flagstar Bank, FSB, provides commercial, small business, and consumer banking services through 160 branches in Michigan, Indiana, California, Wisconsin and Ohio. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as 75 retail locations in 24 states, representing the combined retail branches of Flagstar and its Opes Advisors mortgage division. Flagstar is a leading national originator and servicer of mortgage loans, handling payments and record keeping for $175 billion of home loans representing nearly 827,000 borrowers. For more information, please visit flagstar.com.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of Flagstar Bancorp, Inc.’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause the Company's actual results to differ materially from those described in the forward-looking statements can be found in periodic Flagstar reports filed with the U.S.





Securities and Exchange Commission, which are available on the Company’s website (flagstar.com) and on the Securities and Exchange Commission's website (sec.gov). Other than as required under United States securities laws, Flagstar Bancorp does not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements.

SOURCE: Flagstar Bancorp, Inc.

For further information

ANALYSTS: Ken Schellenberg, Investor Relations, (248) 312-5741
MEDIA: Susan Bergesen, Corporate Communications, (248) 312-6237





    


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