New York Community Bancorp, Inc. (NYCB) confirmed it’s closing 69% of the retail home lending offices outside of its branches after acquiring Michigan-based Flagstar Bank. 

“We made the strategic decision shortly after the transaction closed to swiftly restructure the business, which occurred in January,” Thomas Cangem, NYCB president and CEO, said in a statement. “Going forward, our distributed retail channel will operate as an in-branch footprint model and we will close all out-of-footprint locations, resulting in a 69% reduction in the number of retail home lending offices.”

The companies made the $2.6 billion deal public in April 2021, and the Office of details ⇒