Overview / Commentary
248-312-5400
5151 Corporate Drive
Troy, MI 48098

Flagstar Bank is the banking subsidiary of Flagstar Bancorp, Inc., a publicly traded bank holding company (NASDAQ: FBC) that is a national leader in wholesale mortgage lending. The commercial bank offers deposit accounts, consumer loans and credit cards to individuals, as well as cash management services to businesses.

As far as deposit accounts, the bank offers checking, savings, and Money Market accounts, as well as Certificates of Deposit (CDs) and IRA CDs. Checking account options are numerous and include a simple checking account that comes with a Visa debit card, a free annual investment review, and unlimited check writing. The simple checking account also comes with preferred CD rates when higher balances are maintained. The bank has University of Michigan-themed checking accounts as well as other interest bearing checking accounts that come with the cost of monthly service fees, which can be avoided by meeting certain requirements. All of the savings accounts offerings come with free ATM transactions at qualifying machines, online and telephone banking, and a free spending review service. A simple savings account is available and comes with a monthly service fee that can be waived by opening a checking account. Money Market accounts at the bank offer higher interest rates for higher balances and come with a Visa debit card. Certificates of Deposit (CDs) have a low minimum balance to open and are available in term lengths ranging from 30 days to 120 months.

Flagstar is also part of the CDARS network, giving large deposit investors a convenient way to find the best CDs for their funds while maintaining FDIC insurance coverage. The bank also offers government banking solutions that help government entities manage public sector funds.

Flagstar Bank online banking provides a web-based platform for account management tasks like Bill Pay, budget tracking, reward account management, and fund transfers. The system also provides Intuit financial management tools to help track expenses and plan out personal finances. Mobile banking is also available for customers to use through smartphone and tablet apps.

Flagstar Bank was originally established in 1987 as the First Security Savings Bank. In 1996 it transitioned to its current name, and four years later moved to its current headquarters in Troy, Michigan. Over a hundred branches are operated across the state of Michigan, where Flagstar focuses its business.

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CD Specials - 13,19,25 Month. - 4/25/2018

13 month 2.15% 19 month 2.35% 25 month 2.55% New money only. $500 min. 180 EWP.

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5/21/13 - Flagstar Bank’s Savings Account Promotion in Michigan
11/30/11 - Flagstar Bank's Savings Account Promotion
7/13/11 - Flagstar Direct Cuts Money Market Account Rate
2/18/11 - $25 Referral Bonus At Flagstar Bank
12/21/10 - Checking Account Promotion Continues at Flagstar Direct - Available Nationwide
9/17/10 - Checking Account Promotion at Flagstar Direct - Available Nationwide
8/8/10 - Checking, CD and Savings Account Promotions at Flagstar Bank
7/19/10 - Competitive 6-Month & 1-Year CD Rates at Flagstar Direct - Available Nationwide
5/25/10 - CD, Savings & Checking Account Promotions at Flagstar - Available Nationwide
4/18/10 - Checking Account Promotions at Flagstar Bank - GA, MI & IN Only
1/30/10 - Unofficial Problem Bank List increases to 599 [CR]
1/14/10 - Flagstar Bank Launches New Internet Website
1/14/10 - Flagstar's New Online 5.30% Money Market Account
1/9/10 - Flagstar Direct Raises Money Market Account Rate
12/17/09 - Flagstar Internet Money Market Rate Plummets and Is No Longer Competitive
12/12/09 - 2.00% Checking Account with Rate Guaranteed for One Year at Flagstar Bank - GA, MI & IN Only
11/12/09 - Flagstar's Online Money Market Promotion - Available Nationwide
8/15/09 - 2.00% Checking Account with Rate Guaranteed for One Year at Flagstar Bank
7/13/09 - $100 Checking Account/Direct Deposit Bonus at Flagstar Bank
6/14/09 - 2.00% Checking for One Year or $100 Checking/DD Bonus at Flagstar Bank - GA, MI, IN Only
2/12/09 - 3.25% 9-Month CD at Flagstar Bank - Nationally Available
2/5/09 - 4.50% 48-Month Online CD at Flagstar Bank
1/2/09 - $100 Checking Account/Direct Deposit Bonus at Flagstar - Update
11/4/08 - Money Market Account Promotion at Flagstar Bank in Michigan - 4% for 12 Months
9/11/08 - 5.10% 48-Month Online CD at Flagstar Bank
7/22/08 - $100 Checking Account/Direct Deposit Bonus at Flagstar
6/15/08 - 10% 6-Month CD ($2.5K Max) Continues at Flagstar Bank
4/27/08 - 10% 6-Month CD ($2.5K Max) and Other Promos and News at Flagstar Bank
3/10/08 - Update on $100 Checking Account Bonus at Flagstar Bank
1/27/08 - $100 Checking Account Bonus with DD at Flagstar Bank
9/1/07 - 7.30% 12-Month CD at a Georgia Bank - $2.5k Max (Flagstar)
6/18/07 - 5.50% 14-Month CD at an Indiana/Michigan/Georgia Bank (Flagstar)
5/21/07 - $100 Checking Account Bonus at Flagstar Bank Continues
3/16/07 - $100 Checking Account Bonus at GA/IN/MI Bank (Flagstar)
2/19/07 - 10% 6-Month CD at an IN/MI/GA Bank Continues - $2.5K Max (Flagstar)
1/7/07 - 10% 6-Month CD at an Indiana/Michigan/Georgia Bank Continues - $2.5K Max (Flagstar)
11/21/06 - 10% 6-Month CD at an Indiana/Michigan/Georgia Bank - $2.5K Max (Flagstar)
2/8/06 - $100 / $25 Checking Account Bonuses at Two Indiana Banks

Flagstar Bank

Posted by: Ally6770 | Aug 4, 2013

Have banked with Flagstar for 25-30 years. Started when the CD rates were high. Then I took some of the townships money there for CD's. I still have one CD there and a checking and savings account. Rates are extremely low now but the service is great. They were wonderful helping with accounts after my mother passed with her IRA and when husband passed and helped me set up an account for the boys to inherit before his death. Though I thought I had another year to do this was so thankful I did it when I did.  One of the most helpful, and friendly banks I have every belonged to. Was shocked to hear all the negative remarks. Maybe it is the city I live in that makes the difference. Not sure why all of the negative remarks but people at Flagstar are always helpful. I rarely go it except to use the ATM for deposits but they still address me by name. AMAZING 

Mortgage Through Flagstar

Posted by: Nanchad | Mar 6, 2012

I refinanced in December, and discovered that my new mortgage was going to be through Flagstar Bank.  When I read the reviews I almost had a heart attack.  I am very involved with my mortgage, have spreadsheets showing my payments, make multiple extra payments throughout the month, etc.  I was in a panic when I read the reviews, and contacted my bank and almost had them cancel the refinance, because there is no way I could do business with a bank that had horrible reviews.  My bank reassured me that a lot of their employees had their mortgage through Flagstar, and they were very happy with them.  They were able to talk me into going through with my refinance.  It has been 3 months now, and I am extremely happy with Flagstar Bank.  The online options that I have to look at my mortgage are the best that I have seen.  It is very easy to make extra payments as often as I want online.  I had a question about my mortgage, and was hesistant to call Flagstar Bank (because of the horrible reviews).  I was at work, and knew that I didn't have 45 minutes to an hour to sit on the phone and wait.  Once again, I was surprised!  I was on hold for less than 2 minutes, and the customer service rep was very nice, knew exactly what he was talking about, and was able to explain things to me.  I immediately chatted my husband and said, "I had a WONDERFUL experience with Flagstar!"  As for right now, I would have to give Flagstar 5 stars, and that is saying something, because 90% of the time I am NEVER satisfied with companies and their customer service.  Way to go Flagstar!

Not The Sharpest, But.. Pretty Sharp!

Posted by: imerlink | Feb 14, 2013

I've had an online checking and savings account for about six months.  Have had some difficulty understanding the online site, but found calls to customer service answered quickly and accurately.  On a scale of 1 to ten I would give Flagstar a 7+, for sure better than ING (now Capital one 360).

Not A Bad Mortgage Bank At All...

Posted by: dem1974 | Nov 5, 2012

When we purchased our home back in 2004, we initially financed with Wells Fargo. Wells Fargo is Absolute WORST bank ever, to do business with. We re-fi'd our loan within months and eventually the loan was sold to Flagstar in 2007. Not only has it been a positive experience, but we just refinanced down to a 15 year this past spring (2012) with them. No closing costs and a great rate.

However, we have had our share of long wait times for customer service. Once was our fault and the other was Flagstar's. But, the people were always decent on the phone. If you treat them with respect, they will go all out for you.

If you pay your mortgage on time, there should be no need to call customer service anyway.

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Health

Health Grade Components

Overall
FDIC Certificate #32541
Year Established1987
Employees3682
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.12%
Return on Equity - YTD11.68%
Annual Interest Income$323.6MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$18.07B$15.89B
LoansQ2 2018vs Q2 2017$13.34B$11.42B
DepositsQ2 2018vs Q2 2017$10.92B$9.02B
Equity CapitalQ2 2018vs Q2 2017$1.72B$1.72B
Loan Loss AllowanceQ2 2018vs Q2 2017$137.0MM$140.0MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$32.6MM$33.8MM
Real Estate OwnedQ2 2018vs Q2 2017$6.8MM$9.1MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Flagstar Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Flagstar Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%*$1m*-High Yield Savings
OTHER TIERS: 0.05% Up to $50k | 0.80% $50k - $100k | 0.99% $100k - $250k | 1.19% $250k - $500k | 1.30% $500k - $1m
1.30%--SimplySavings - 12 Month Promo
1.30%--MAXSavings - 12 Month Promo
1.30%--High Yield Savings - 12 Month Promo
1.30%--High Yield Savings IRA - 12 Month Promo
1.30%--MAXSavings IRA - 12 Month Promo
1.30%--SimplySavings IRA - 12 Month Promo
0.20%*$25k*-SimplyMax Savings
OTHER TIERS: 0.05% Up to $5k | 0.10% $5k - $25k
0.10%--Simply Savings

Flagstar Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%*$10k*-Simply Money Market Savings
OTHER TIERS: 0.05% Up to $5k | 0.10% $5k - $10k

Flagstar Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%*$25k*-SimplyMax Checking
OTHER TIERS: 0.05% Up to $5k | 0.10% $5k - $25k
0.05%*$10k*-SimplyPlus Checking
OTHER TIERS: 0.03% Up to $10k

Flagstar Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.35%$500$10m13 Month CD Special (New Money)
2.05%$500-108 - 120 Month CD
1.95%$500-96 - 107 Month CD
1.85%$500-84 - 95 Month CD
1.75%$500-72 - 83 Month CD
1.65%$500-60 - 71 Month CD
1.55%$500-24 - 29 Month CD
1.55%$500-48 - 59 Month CD
1.45%$500-36 - 47 Month CD
1.40%$500-18 - 23 Month CD
1.35%$500-30 - 35 Month CD
1.25%$500-180 - 364 Day CD
1.25%$500-12 - 17 Month CD
0.65%$500-90 - 179 Day CD
0.25%$500-30 - 89 Day CD

Flagstar Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.35%$500$10m13 Month IRA Special (New Money)
2.05%$500-108 - 120 Month IRA
1.95%$500-96 - 107 Month IRA
1.85%$500-84 - 95 Month IRA
1.75%$500-72 - 83 Month IRA
1.65%$500-60 - 71 Month IRA
1.55%$500-24 - 29 Month IRA
1.55%$500-48 - 59 Month IRA
1.45%$500-36 - 47 Month IRA
1.40%$500-18 - 23 Month IRA
1.35%$500-30 - 35 Month IRA
1.25%$500-180 - 364 Day IRA
1.25%$500-12 - 17 Month IRA
0.65%$500-90 - 179 Day IRA
0.25%$500-30 - 89 Day IRA
Locations

Availability



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