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Bring it on home: BelgiumHICKSVILLE, 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.
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Bucks get second crack at NBA Cup semis vs. Trae Young, HawksNFL Hall of Fame WR Randy Moss announces battle with cancer outside of bowel duct on Instagram Live NFL Hall of Fame wide receiver Randy Moss announced that he has been battling a cancer found in his bowel duct between his pancreas and liver on Instagram live. Moss, aided by a cane, introduced himself as a cancer survivor and thanked his “prayer warriors” for their support. He had a Whipple procedure to put a stent on his liver on Thanksgiving after experiencing urine discoloration. Moss spent the last six days in the hospital before getting out on Friday and said he’s nursing himself back to full health with chemotherapy and radiation. Lindsey Vonn to enter World Cup ski races next weekend in Switzerland in her comeback at age 40 BEAVER CREEK, Colo. (AP) — Lindsey Vonn will return to World Cup ski racing next weekend for a pair of super-G events in St. Moritz, Switzerland, as she continues her comeback at 40 years old. Vonn teased her return in an Instagram post through her sponsor, Red Bull, on Friday morning. She said “I hear St. Moritz is pretty nice this time of year.” The U.S. Ski Team then confirmed she will race in St. Moritz. She’s won five of her 82 World Cup races on the venue at St. Moritz. Picabo Street, a two-time Olympic medalist and Vonn’s former teammate, says “it’s the coolest thing ever.” De'Vondre Campbell won't be part of the 49ers after his refusal to enter a game, Kyle Shanahan says SANTA CLARA, Calif. (AP) — San Francisco coach Kyle Shanahan said linebacker De’Vondre Campbell won’t be part of the 49ers moving forward after he refused to enter a game after losing his starting job. Shanahan said the team is still working through the options of how to deal with Campbell after he walked to the locker room in the middle of a 12-6 loss to the Los Angeles Rams. Shanahan says the team is weighing its options, which could include a suspension or release, but that Campbell won't be part of the team for the final three weeks of the season. Saudi Arabia's plans to host the men's World Cup 2034 will be harmful for the climate, experts say Saudi Arabia says that to host the 2034 World Cup in men’s soccer, it will build or renovate 15 stadiums, create a futuristic city and expand airports and public transport in a massive buildout to accommodate millions of athletes, coaches and spectators. That will emit tons of planet-warming greenhouse gases as concrete and steel are manufactured and transported, diesel-powered excavators and trucks move material and new buildings are powered and cooled. The buildings and construction sector, taken together, is the largest emitter of greenhouse gases globally. Because of the scale of the building plans and travel needed for the event, experts say the toll on the climate could be enormous. Yankees get closer Devin Williams from Brewers for Nestor Cortes, Caleb Durbin NEW YORK (AP) — The New York Yankees have acquired All-Star closer Devin Williams from the Milwaukee Brewers for left-hander Nestor Cortes and infield prospect Caleb Durbin. The Yankees also will send $2 million to the Brewers as part of the trade. A 30-year-old right-hander, Williams and his signature “Airbender” changeup are eligible for free agency after the 2025 season. He was diagnosed during spring training with two stress fractures in his back and didn’t make his season debut until July 28. Williams was 14 for 15 in save chances with a 1.25 ERA, striking out 38 and walking 11 in 21 2/3 innings. Cubs acquiring All-Star outfielder Kyle Tucker in trade with the Astros, AP source says CHICAGO (AP) — The Chicago Cubs are acquiring All-Star outfielder Kyle Tucker in a trade with the Houston Astros, paying a big price for one of baseball’s best hitters, a person familiar with the situation said. The person spoke to the AP on condition of anonymity because the move was pending a review of medical reports. The Cubs are sending third baseman Isaac Paredes, right-hander Hayden Wesneski and Cam Smith, one of their top infield prospects, to the Astros for Tucker, who is eligible for free agency after the 2025 season. Tucker was limited to 78 games this year because of a fractured right shin, but he hit .289 with 23 homers and 49 RBIs for the AL West champions. US Olympic and Paralympic officials put coach on leave after AP reports sexual abuse allegations The U.S. Olympic & Paralympic Committee has placed an employee on administrative leave after The Associated Press reported that one of its coaches was accused of sexually abusing a young biathlete, causing her so much distress that she attempted suicide. USOPC officials sent an email to the U.S. Biathlon national team saying it wanted to commend the athletes who came forward with the “concerning allegations of abuse." The email, which did not name the employee, said officials were conducting an internal investigation. USOPC spokesperson Jon Mason said no further information would be released while the inquiry is underway. New West Virginia coach Rich Rodriguez says leaving for Michigan 17 years ago was a 'mistake' MORGANTOWN, W.Va. (AP) — Rich Rodriguez says he regrets leaving West Virginia 17 years ago. Rodriguez was introduced as the coach at his alma mater on Friday. Based on the welcome he got from the thousands of West Virginia fans in attendance, much seems to be forgiven. Rodriguez told the crowd that he never should have left his home state. The 61-year-old coach says he's grown both as a person and a coach throughout his long career, and that his departure at the end of the 2007 season for a head coaching job at Michigan was a mistake. Rodriguez went 60-26 at West Virginia from 2001 to 2007. Woman who falsely accused Duke lacrosse players of rape in 2006 publicly admits she lied RALEIGH, N.C. (AP) — The woman who in 2006 falsely accused three Duke University lacrosse players of raping her has admitted publicly for the first time that she made up the story. The accusations made national headlines at the time, stirring tensions about race, class and the privilege of college athletes. Crystal Mangum, who is Black, said in an interview with the “Let’s Talk with Kat” podcast that she “made up a story that wasn’t true” about the white players who attended a party where she was hired to perform as a stripper “because I wanted validation from people and not from God.” The former Duke players were declared innocent in 2007 after Mangum’s story fell apart under legal scrutiny. Analysis: Only LeBron James knows what's happening right now, and what's in his future LAS VEGAS (AP) — LeBron James was starring in Las Vegas at this time last year, the headline attraction while he and the Los Angeles Lakers were about to win the inaugural version of the event now known as the NBA Cup. That's not the case this year. “Personal reasons ... he’s taking some time” is what Lakers coach JJ Redick said this week when detailing why James was missing from practice. “Left foot soreness” is the reason why the Lakers have ruled him out of Friday’s game in Minnesota. There’s been trade speculation in recent days. It's all very different than a year ago at Cup time.