New York Community Bancorp, a bank headquartered in Westbury, New York, completed the acquisition of Flagstar Bancorp, a bank headquartered in Michigan, for $2.6bn. "For Flagstar, this is a unique opportunity. With our existing Flagstar platform, we had every expectation of continuing to build on our success as a leader in creating value in the mid-size bank space. Now, in partnership with NYCB, we are positioned to further accelerate everything we've been doing during my tenure as Flagstar's CEO to build a best-in-class commercial bank, supported by one of the best mortgage and servicing businesses in the country," Alessandro DiNello, Flagstar Bancorp President and CEO.