Deal Snapshot
FLAGSTAR BANK TO ACQUIRE DESERT COMMUNITY BANK BRANCHES FROM EAST WEST BANK
Tuesday 14 November 2017

Michigan, US-based bank holding company Flagstar Bancorp, Inc.'s (NYSE: FBC) Flagstar Bank, FSB has signed a definitive agreement to acquire eight Desert Community Bank branches in San Bernardino County, California from East West Bank along with certain related assets, the company said.
These branches have approximately USD 600m in deposits and USD 70m in loans. DCB, headquartered in Victorville, California, holds the #2 deposit market share in the High Desert region of San Bernardino County, the fifth largest county in California with a total population of 2.1m. 


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Details
Date Published: 14/11/2017
Target: Eight Desert Community Bank branches in,  San Bernardino County, California
Country: USA
Sector: Banking/Financial Services
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor: East West Bank,  
Buyer: Flagstar Bancorp
Buyer Advisor: Morrison and Foerster
Comment:
Terms of the deal were not disclosed

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