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DAMASCUS (AP) — Exuberant Syrians observed the first Friday prayers since the ouster of President Bashar Assad , gathering in the capital's historic main mosque, its largest square and around the country to celebrate the end of half a century of authoritarian rule. The newly installed interim prime minister delivered the sermon at the Umayyad Mosque, declaring that a new era of “freedom, dignity and justice” was dawning for Syria. The gatherings illustrated the dramatic changes that have swept over Syria less than a week after insurgents marched into Damascus and toppled Assad. Amid the jubilation, U.S. Secretary of State Antony Blinken met with allies around the region and called for an “inclusive and non-sectarian” interim government. Blinken arrived in Iraq on a previously unannounced stop after talks in Jordan and Turkey, which backs some of the Syrian insurgent factions. So far, U.S. officials have not talked of direct meetings with Syria's new rulers. The main insurgent force, Hayat Tahrir al-Sham, has worked to establish security and start a political transition after seizing Damascus early Sunday. The group has tried to reassure a public both stunned by Assad's fall and concerned about extremist jihadis among the rebels. Insurgent leaders say the group has broken with its extremist past, though HTS is still labeled a terrorist group by the United States and European countries. HTS's leader, Ahmad al-Sharaa, formerly known as Abu Mohammed al-Golani, appeared in a video message Friday congratulating “the great Syrian people for the victory of the blessed revolution.” “I invite them to head to the squares to show their happiness without shooting bullets and scaring people,” he said. “And then after, we will work to build this country, and as I said in the beginning, we will be victorious by the help of God.” Huge crowds, including some insurgents, packed the historic Umayyad Mosque in the capital's old city, many waving the rebel opposition flag — with its three red stars — which has swiftly replaced the Assad-era flag with with its two green stars. Syrian state television reported that the sermon was delivered by Mohammed al-Bashir, the interim prime minister installed by HTS this week. The scene resonated on multiple levels. The mosque, one of the world's oldest dating back some 1,200 years, is a beloved symbol of Syria, and sermons there like all mosque sermons across Syria were tightly controlled under Assad's rule. Also, in the early days of the anti-government uprising in 2011, protesters would leave Friday prayers to march in rallies against Assad before he launched a brutal crackdown that turned the uprising into a long and bloody civil war. “I didn’t step foot in Umayyad Mosque since 2011," because of the tight security controls around it, said one worshipper, Ibrahim al-Araby. “Since 11 or 12 years, I haven’t been this happy.” Another worshipper, Khair Taha, said there was “fear and trepidation for what’s to come. But there is also a lot of hope that now we have a say and we can try to build.” Blocks away in Damascus' biggest roundabout, named Umayyad Square, thousands gathered, including many families with small children — a sign of how, so far at least, the country's transformation has not caused violent instability. “Unified Syria to build Syria,” the crowd chanted. Some shouted slurs against Assad and his late father, calling them pigs, an insult that would have previously led to offenders being hauled off to one of the feared detention centers of Assad’s security forces. One man in the crowd, 51-year-old Khaled Abu Chahine — originally from the southern province of Daraa, where the 2011 uprising first erupted — said he hoped for “freedom and coexistence between all Syrians, Alawites, Sunnis, Shiites and Druze.” The interim prime minister, al-Bashir, had been the head of a de facto administration created by HTS in Idlib, the opposition's enclave in northwest Syria. The rebels were bottled up in Idlib for years before fighters broke out in a shock offensive and marched across Syria in 10 days. Similar scenes of joy unfolded in other major cities, including in Aleppo, Homs, Hama, Latakia and Raqqa. Al-Sharaa, HTS' leader, has promised to bring a pluralistic government to Syria, seeking to dispel fears among many Syrians — especially its many minority communities — that the insurgents will impose a hard-line, extremist rule. Another key factor will be winning international recognition for a new government in a country where multiple foreign powers have their hands in the mix. The Sunni Arab insurgents who overthrew Assad did so with vital help from Turkey, a longtime foe of the U.S.-backed Kurds . Turkey controls a strip of Syrian territory along the shared border and backs an insurgent faction uneasily allied to HTS — and is deeply opposed to any gains by Syria's Kurds. In other developments, Turkish Foreign Minister Hakan Fidan said Turkey’s Embassy in Damascus would reopen Saturday for the first time since 2012, when it closed due to the Syrian civil war. The U.S. has troops in eastern Syria to combat remnants of the Islamic State group and supports Kurdish-led fighters who rule most of the east. Since Assad's fall, Israel has bombed sites all over Syria, saying it is trying to prevent weapons from falling into extremist hands. It has also seized a swath of southern Syria along the border with the Israeli-occupied Golan Heights, calling it a buffer zone. After talks with Fidan, Blinken said there was “broad agreement” between Turkey and the U.S. on what they would like to see in Syria. That starts with an "interim government in Syria, one that is inclusive and non-sectarian and one that protects the rights of minorities and women” and does not “pose any kind of threat to any of Syria’s neighbors,” Blinken said. Fidan said the priority was “establishing stability in Syria as soon as possible, preventing terrorism from gaining ground, and ensuring that IS and the PKK aren’t dominant” — referring to the Islamic State group and the Kurdistan Workers Party. Ankara considers the PKK within Turkey's borders a terrorist group, as it does the Kurdish-backed forces in Syria backed by the U.S. A U.S. official said that in Ankara, President Recep Tayyip Erdogan and Fidan both told Blinken that Kurdish attacks on Turkish positions would require a response. The official spoke to reporters on condition of anonymity to discuss private diplomatic talks. The U.S. has been trying to limit such incidents in recent days and had helped organize an agreement to prevent confrontations around the northern Syrian town of Manbij, which was taken by Turkey-backed opposition fighters from the U.S.-backed Kurdish forces earlier this week. In Baghdad, Blinken met with Iraqi Prime Minister Mohammed al-Sudani, saying both countries wanted to ensure the Islamic State group — also known by its Arabic acronym Daesh — doesn't exploit Syria's transition to re-emerge. “Having put Daesh back in its box, we can’t let it out, and we’re determined to make sure that that doesn’t happen," Blinken said. The U.S. official who briefed reporters said that Blinken had impressed upon al-Sudani the importance of Iraq exercising its full sovereignty over its territory and airspace to stop Iran from transporting weapons and equipment to Syria, either for Assad supporters or onward to the militant Hezbollah group in Lebanon. Lee reported from Ankara, Turkey. Associated Press writers Suzan Fraser in Ankara and Sally Abou AlJoud in Beirut contributed to this report.Rockefeller Capital Management L.P. Sells 1,423 Shares of Stanley Black & Decker, Inc. (NYSE:SWK)
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Dan Lanning said it best after the Oregon Ducks beat Washington. This College Football Playoff is going to be more like March Madness than anything we’ve ever seen on grass. And, hey, that sounds great. We all love the NCAA Tournament. But an unfortunate thing happened along the way to trialing this first year of a 12-team playoff. The committee created a system that bent too far toward that early spring hoops extravaganza, inadvertently placing a greater emphasis on marquee matchups and potential upsets than it did on making sure the best team wins the national championship. Is that Oregon? It will have to be for them to pull this off. And, look, I’m not trying to preemptively make excuses for the Ducks. Like I wrote after their 45-37 win over Penn State in Saturday’s Big Ten title win, the expectation should be that they win it all. Going 13-0 with a team as physical and skilled as this one and losing in the Rose Bowl would indeed be a bust. The standard and expectation for this team needs to be higher than that. But something is amiss in the way this system has played out in Year 1. To be the last team standing, the Ducks’ most likely path might require beating Ohio State, Texas and Georgia in succession. Or, if the Buckeyes falter, the top three teams in the SEC. That would make Dan Lanning’s Oregon team the most deserving national champion in the history of the sport. Full stop. They tried to give us a playoff and instead turned college football into “Survivor.” It’s a challenge I expect Lanning and his team to embrace. But that doesn’t make it any less treacherous. But at least it will make for great television. Quite clearly, the expanded playoff was going to mean that the 2024 national champion would have to navigate a gauntlet unlike anything ever seen at the FBS level. That was a given. But an untested system combined with a highly chaotic year across the sport has essentially rendered Oregon’s dominant 13-0 run meaningless. A first-round bye is not enough of an incentive to sweep the regular season, not if Boise State and Arizona State can land the same prize by winning the two weakest conferences that received automatic bids. I did not entertain the notion that the Ducks would have been better off losing to Penn State on Saturday for an easier path as the No. 5 seed. But the fact we have to even ask the question, or consider the implications, means that this system failed. Byes need to go to the four highest-ranked teams going forward. By awarding the third and fourth seeds to Boise State and ASU — ranked No. 9 and No. 12 in the final rankings — the committee essentially flipped the bracket, scrambling the balance of power. Now, teams that should be near the top are in the middle. Instead of having a bye, No. 3 Texas is the fifth seed with a home playoff game against a Clemson team that back-doored its way into the field. Texas needs only to beat the Tigers and Arizona State to reach the semifinal, possibly against Oregon and almost certainly in the Cotton Bowl at AT&T Stadium in Dallas. Some neutral site that would be. Same with a potential rematch with Georgia at Mercedes-Benz Stadium. If you’re Oregon, these are good problems to have, I suppose. You are the No. 1 team in the country. That means you should be able to beat any challengers. At least in theory. It’s not that I don’t believe the Ducks can win a rematch against Ohio State, or score against Texas, or win in the trenches against Georgia. I think they can do any of those things. It’s doing all three of them in a single month that becomes daunting. But even with this obstacle-laden path, the Ducks’ mission has not changed: Just win. And if March Madness has taught us anything about a tournament, it’s that things never play out exactly like you anticipate. The hardest path can very quickly become the best one.HICKSVILLE, N.Y. , Dec. 13, 2024 /PRNewswire/ -- Flagstar Financial, Inc. (NYSE: FLG) (the "Company") today announced the appointment of Brian Callanan , Senior Managing Director and General Counsel at Liberty Strategic Capital ("Liberty"), to its Board of Directors, effective December 16, 2024 . Commenting on the appointment, Joseph M. Otting , Chairman, President, and CEO said, "I'm pleased to have Brian join our Board. His proven track record and expertise in financial services, along with his strategic insights will be instrumental as we continue to execute on our transformation and long-term vision. Brian's perspectives will provide valuable guidance, and his leadership will play a critical role in driving sustainable growth, ensuring we achieve long-term success and maximize the value we deliver to our shareholders, employees, and clients." Callanan is a distinguished lawyer with extensive experience in financial regulation, regulatory compliance, and financial technology. At Liberty, Callanan leads the firm's legal function, serves on its Investment Committee, and focuses on financial sector investments. Prior to joining Liberty, he served as General Counsel of the U.S. Department of the Treasury, overseeing 2,000 lawyers across the department. As Chief General Counsel, he played a key role in major initiatives such as economic rescue programs during COVID-19, the design of new economic sanctions, and the implementation of tax reform. While serving as Deputy General Counsel, Callanan managed major litigation and advised on regulatory reform efforts, among other responsibilities. For his service, he received the Alexander Hamilton Award, the department's highest honor. This appointment aligns with the $1.05 billion equity investment in March 2024 , which stipulated that two Board seats would be granted to lead investor Liberty Strategic Capital. With Callanan's addition, the Company's Board of Directors, which was reconstituted earlier in 2024, expands to nine members, including Chairman, President, and Chief Executive Officer, Joseph M. Otting , Milton Berlinski , Alessandro P. DiNello , Alan Frank , Marshall Lux , Lead Independent Director Secretary Steven T. Mnuchin , Allen Puwalski , and Jennifer Whip. About Flagstar Financial, Inc. Flagstar Financial, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the country. The Company is headquartered in Hicksville, New York . At September 30, 2024, the Company had $114.4 billion of assets, $73.0 billion of loans, deposits of $83 .0 billion, and total stockholders' equity of $8 .6 billion. Flagstar Bank, N.A. operates over 400 branches, including a significant presence in the Northeast and Midwest and locations in high growth markets in the Southeast and West Coast. In addition, the Bank has approximately 80 private banking teams located in over 10 cities in the metropolitan New York City region and on the West Coast, which serve the needs of high-net worth individuals and their businesses. Cautionary Statements Regarding Forward-Looking Statements This release may include forward‐looking statements by the Company and our authorized officers pertaining to such matters as our goals, beliefs, intentions, and expectations regarding (a) revenues, earnings, loan production, asset quality, liquidity position, capital levels, risk analysis, divestitures, acquisitions, and other material transactions, among other matters; (b) the future costs and benefits of the actions we may take; (c) our assessments of credit risk and probable losses on loans and associated allowances and reserves; (d) our assessments of interest rate and other market risks; (e) our ability to execute on our strategic plan, including the sufficiency of our internal resources, procedures and systems; (f) our ability to attract, incentivize, and retain key personnel and the roles of key personnel; (g) our ability to achieve our financial and other strategic goals, including those related to our merger with Flagstar Bancorp, Inc., which was completed on December 1, 2022, our acquisition of substantial portions of the former Signature Bank through an FDIC-assisted transaction, and our ability to fully and timely implement the risk management programs institutions greater than $100 billion in assets must maintain; (h) the effect on our capital ratios of the approval of certain proposals approved by our shareholders during our 2024 annual meeting of shareholders; (i) the conversion or exchange of shares of the Company's preferred stock; (j) the payment of dividends on shares of the Company's capital stock, including adjustments to the amount of dividends payable on shares of the Company's preferred stock; (k) the availability of equity and dilution of existing equity holders associated with amendments to the 2020 Omnibus Incentive Plan; (l) the effects of the reverse stock split; and (m) transactions relating to the sale of our mortgage business and mortgage warehouse business. Forward‐looking statements are typically identified by such words as "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "should," "confident," and other similar words and expressions, and are subject to numerous assumptions, risks, and uncertainties, which change over time. Additionally, forward‐looking statements speak only as of the date they are made; the Company does not assume any duty, and does not undertake, to update our forward‐looking statements. Furthermore, because forward‐looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those anticipated in our statements, and our future performance could differ materially from our historical results. Our forward‐looking statements are subject to, among others, the following principal risks and uncertainties: general economic conditions and trends, either nationally or locally; conditions in the securities, credit and financial markets; changes in interest rates; changes in deposit flows, and in the demand for deposit, loan, and investment products and other financial services; changes in real estate values; changes in the quality or composition of our loan or investment portfolios, including associated allowances and reserves; changes in future allowance for credit losses, including changes required under relevant accounting and regulatory requirements; the ability to pay future dividends; changes in our capital management and balance sheet strategies and our ability to successfully implement such strategies; recent turnover in our Board of Directors and our executive management team; changes in our strategic plan, including changes in our internal resources, procedures and systems, and our ability to successfully implement such plan; changes in competitive pressures among financial institutions or from non‐financial institutions; changes in legislation, regulations, and policies; the imposition of restrictions on our operations by bank regulators; the outcome of pending or threatened litigation, or of investigations or any other matters before regulatory agencies, whether currently existing or commencing in the future; the success of our blockchain and fintech activities, investments and strategic partnerships; the restructuring of our mortgage business; our ability to recognize anticipated expense reductions and enhanced efficiencies with respect to our recently announced strategic workforce reduction; the impact of failures or disruptions in or breaches of the Company's operational or security systems, data or infrastructure, or those of third parties, including as a result of cyberattacks or campaigns; the impact of natural disasters, extreme weather events, military conflict (including the Russia / Ukraine conflict, the conflict in Israel and surrounding areas, the possible expansion of such conflicts and potential geopolitical consequences), terrorism or other geopolitical events; and a variety of other matters which, by their nature, are subject to significant uncertainties and/or are beyond our control. Our forward-looking statements are also subject to the following principal risks and uncertainties with respect to our merger with Flagstar Bancorp, which was completed on December 1, 2022 , and our acquisition of substantial portions of the former Signature Bank through an FDIC-assisted transaction: the possibility that the anticipated benefits of the transactions will not be realized when expected or at all; the possibility of increased legal and compliance costs, including with respect to any litigation or regulatory actions related to the business practices of acquired companies or the combined business; diversion of management's attention from ongoing business operations and opportunities; the possibility that the Company may be unable to achieve expected synergies and operating efficiencies in or as a result of the transactions within the expected timeframes or at all; and revenues following the transactions may be lower than expected. Additionally, there can be no assurance that the Community Benefits Agreement entered into with NCRC, which was contingent upon the closing of the Company's merger with Flagstar Bancorp, Inc., will achieve the results or outcome originally expected or anticipated by us as a result of changes to our business strategy, performance of the U.S. economy, or changes to the laws and regulations affecting us, our customers, communities we serve, and the U.S. economy (including, but not limited to, tax laws and regulations). More information regarding some of these factors is provided in the Risk Factors section of our Annual Report on Form 10‐K/A for the year ended December 31, 2023, Quarterly Report on Forms 10-Q for the quarters ended March 31, 2024 , June 30, 2024 , and September 30, 2024 , and in other SEC reports we file. Our forward‐looking statements may also be subject to other risks and uncertainties, including those we may discuss in this news release, on our conference call, during investor presentations, or in our SEC filings, which are accessible on our website and at the SEC's website, www.sec.gov . Investor Contact: Salvatore J. DiMartino (516) 683-4286 Media Contact: Nicole Yelland (248) 219-9234 View original content to download multimedia: https://www.prnewswire.com/news-releases/flagstar-financial-inc-appoints-brian-callanan-to-board-of-directors-302331692.html SOURCE Flagstar Financial, Inc.
NoneSANTA CLARA — Brandon Allen prepared as if he was the 49ers’ starting quarterback all week, but the reality didn’t hit home until Friday, when Brock Purdy again missed practice. “I know he had a plan for his shoulder all week, rest it a little bit on Wednesday and we’d split reps,” Allen said of Purdy. “I think the plan Thursday was to come out and practice. I guess in warmups it just wasn’t feeling right. I found out (Friday).” Allen, a 32-year-old veteran in his ninth season, will start Sunday when the 49ers (5-5) visit the Green Bay Packers (7-3) at Lambeau Field. Purdy was ruled out with a shoulder injury sustained in a 20-17 loss to Seattle , the first time he has missed a start because of injury after 31 regular-season and six postseason starts. Here are five things to know about Allen: 1. Arkansas roots The Fayetteville, Arkansas native’s father Bobby spent more than 20 years as an Arkansas assistant coach. After a redshirt season in 2011, Allen played in 42 games with 38 starts for the Razorbacks. As a senior, Allen completed 57.4 percent of his passes for 3,440 yards, 30 touchdowns and eight interceptions as Arkansas went 8-5. His brother Austin took over as the Arkansas quarterback. In his ninth season, only Joe Ferguson (11 seasons) of the Buffalo Bills has more time in the NFL among Arkansas quarterbacks. 2. Professional route Drafted in the sixth round by the Jacksonville Jaguars, Allen spent his rookie season behind Blake Bortles and Chad Henne as a third-string quarterback and did not play. He was claimed off waivers by the Los Angeles Rams in 2017 and played behind Jared Goff and Sean Mannion before being signed by the Denver Broncos in 2019. Allen won his first start against Cleveland 24-19 in Week 9 of that season, passing for 193 yards and two touchdowns. Allen signed with Cincinnati in 2020, spent time on the practice squad and was promoted to the active roster in November. Subbing for Joe Burrow, Allen had his career-best game, passing for 371 yards and two touchdowns in a 37-31 win. Allen is 2-7 as an NFL starter with 1,611 yards passing, 10 touchdowns, six interceptions and a 78.0 passer rating. 3. Signing with the 49ers Allen became a 49er on May 8, 2023, signing as a free agent. The 49ers, who up to that point seldom kept a third quarterback on the 53-man roster, kept Allen as a No. 3 all season behind Purdy and Sam Darnold after the previous year’s injuries to Trey Lance, Jimmy Garoppolo, and finally Purdy in the NFC Championship Game. Allen did not take a snap. 4. Installed as No. 2 QB Allen signed another one-year contract with the 49ers for one year and $1.21 million (which is more than the $985,000 that Purdy makes on his rookie deal). The 49ers also signed Joshua Dobbs to a one-year, guaranteed $2.35 million contract. Allen and Dobbs competed throughout training camp, with Allen earning the nod from coach Kyle Shanahan. “You’ve got to make a decision. Usually I don’t want to have to make it,” Shanahan said. “I want it to be that obvious, let it play out. Brandon had the head start just being here. I thought he did some better things in practice.” 5. Familiarity with the system While in Denver, Allen’s offensive coordinator was Rich Scangarello, who was the quarterbacks coach under Shanahan in 2017-18. In Los Angeles, the head coach was Sean McVay and the offensive coordinator was Matt LaFleur, both of whom run variations of the Shanahan offense. In 2018, Zac Taylor was his quarterbacks coach with the Rams. Taylor, upon being hired as head coach in Cincinnati, signed Allen to back up Burrow.