Flagstar Bancorp, Inc. (NYSE: FBC)("Company"), the holding company for Flagstar Bank("Bank"), has announced the resignation of Mark T. Hammond as Vice-Chairman and as a member of the Board of Directors of both companies as well as an Executive Advisor of the Company.
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The company also recently held a special meeting of stockholders on December 4, 2009. The meeting was held at the company's National HQ located at 5151 Corporate Drive, Troy, Michigan. At the company's meeting, the stockholders had approved the proposal to increase the number of shares of common stock which can be issued by the company from 750,000,000 to 3,000,000,000.
Flagstar, with $14.8 billion in total assets as of September 30, 2009, is the largest savings bank headquartered in the Midwest and the largest financial institution headquartered in Michigan. At September 30, 2009, Flagstar operated 176 banking centers in Michigan, Indiana and Georgia and 42 home loan centers in 18 states.
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