Articles Tagged with ''bank''

Flagstar moves from deep loss to profit

Changes at the lender keep coming
After a tough year of legal settlements over legacy mortgage issues and a recent layoff announcement, Flagstar Bancorp finally received a dose of good news, with its 2013 fourth-quarter earnings moving from a steep loss to a profit of $160.5 million, or $2.77 a share.
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Flagstar Bancorp announces mass layoff

Bank to slash 600 positions as part of restructuring
The Detroit-based bank, which is no stranger to change, said the reduction is expected to create annualized cost savings of $40 million for the company. The announcement arrives as the firm escapes legacy mortgage issues and refocuses on its future.
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