Edgar Filing: FLAGSTAR BANCORP INC

FLAGSTAR BANCORP, INC.

Dated: December 9, 2011

/s/ Paul D. Borja

Paul D. Borja

Executive Vice-President and Chief Financial Officer

Form 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 9, 2011

Flagstar Bancorp, Inc.

(Exact name of registrant as specified in its charter)

Michigan

1-16577

38-3150651

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)


5151 Corporate Drive, Troy, Michigan		48098
(Address of principal executive offices)		(Zip Code)

(248) 312-2000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

On December 9, 2011, Flagstar Bank, FSB (the “Bank”), the wholly owned savings bank subsidiary of Flagstar Bancorp, Inc. (the “Company”), completed the sale of its 27-branch retail bank franchise in Georgia to PNC Bank, N.A., part of The PNC Financial Services Group, Inc. (NYSE: PNC) (“PNC”), pursuant to a Purchase and Assumption Agreement dated July 26, 2011 by and among the Bank, the Company and PNC. At closing, the Bank sold or assigned the leases associated with the branches and sold the associated business and retail deposits (approximately $210 million). PNC paid the Bank net book value of the acquired real estate and fixed and other personal assets associated with the branches. A copy of the Company’s press release announcing the completion of the sale is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

(d) The following exhibits are being furnished herewith:


Exhibit No.		Exhibit Description

99.1		Press release of Flagstar Bancorp, Inc. dated December 9, 2011

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.