FLAGSTAR BANK EXTENDS JOSEPH OTTING'S TERM AS CEO AND ANNOUNCES EXECUTIVE LEADERSHIP UPDATES
Flagstar Bank extended CEO Joseph Otting’s employment agreement through March 2028, citing confidence in his leadership and the bank’s return to profitability. Richard Raffetto and Lee Smith were named Co-Presidents and Co-Chief Operating Officers, assuming expanded operational responsibilities while reporting to Otting.
Key figures
- Total loans
- $60.7 billion
- Branch count
- 340
- Total assets
- $87.1 billion
- Total equity
- $8.1 billion
- Total deposits
- $66.8 billion
AI analysis
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