Flagstar Sells Northeast-Based Commercial Loans to CIT for ~$779M
Posted on January 02, 2013 at 17:02 PM EST
Flagstar Bancorp, Inc. (NYSE: FBC ), (the "Company"), the holding company for Flagstar Bank, FSB (the "Bank"), today announced that, effective December 31, 2012, the Bank entered into a definitive Transaction Purchase and Sale Agreement (the "Agreement") under which a wholly-owned subsidiary of CIT Bank, the U.S. commercial bank subsidiary of CIT Group Inc.