Flagstar Financial (FLG), parent of Flagstar Bank, said Wednesday its shareholders approved all the proposals linked to its holding company reorganization, during a special meeting.
The approved proposals consist of an amended and restated agreement and merger between the company and Flagstar Bank, as well as the transformation of the company into an interim federal savings association, it said in a statement.
It expects the merger to close in mid-to-late October. It will continue to operate as Flagstar Bank, and its stocks will remain listed on the New York Stock Exchange.
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