| Flagstar Bancorp, Inc. | |||
| Ticker: | FLGS | 2600 Telegraph Road | |
| Exchange: | NASDAQ-National Market | Bloomfield Hills, MI 48302 | |
| Industry: | Financial (SIC Code 6035) | (810) 338-7700 | |
| Type of Shares: | Common Shares | Filing Date: | 2/12/97 | |
| U.S. Shares: | 5,000,000 | Offer Date: | 4/30/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $19.00 - $20.00 | |
| Primary Shares: | 2,200,000 | Offer Price: | $13.00 | |
| Secondary Shares: | 2,800,000 | Gross Spread: | $0.86 | |
| Offering Amount: | $97,500,000 | Selling: | $0.52 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 13,450,000 |
| Manager | Tier | Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 526-8100 |
| PaineWebber Incorporated | Co-manager | (212) 713-2626 |
| Roney & Co. | Co-manager | (313) 225-5741 |
| Issuer's Law Firm: | Reinhart, Boerner, Van Deuren, Norris & Rieselbach |
| Bank's Law Firm: | Simpson, Thacher & Bartlett |
| Auditor: | Grant Thornton |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 9/30/96 | 9/30/95 | 9/30/96 | ||
| Revenue: | $108.29 | $99.51 | $75.84 | Assets: | $1,069.53 |
| Net Income: | $15.48 | $11.34 | $10.66 | Curr Assets: | |
| EPS: | $1.37 | $1.01 | $0.94 | Liabilities: | $996.75 |
| Prior EPS: | $1.42 | -$0.09 | -$0.26 | Curr Liabilities: | |
| Cash Flow/Oper: | -$0.23 | Equity: | $72.78 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a Michigan-based thrift holding company which is one of the largest originators of conforming single-family mortgage loans in the United States. Formerly known as FSSB Holding Corporation, the company is providing a full range of retail banking services in southern Michigan and in originating, purchasing and servicing residential mortgage loans on a nationwide basis. For 1996, the company ranked third among thrifts in mortgage loan originations, fourth in the United States in table-funded wholesale mortgage loan production and fourteenth in total mortgage loan production as reported in Inside Mortgage Finance, and was the largest privately owned mortgage originator in the United States. Prior to the Offering, all of the common stock of the company has been owned by the Hammond family, which includes Thomas J. Hammond, the Chairman, Chief Executive Officer and founder of the company, and Mark T. Hammond, the Vice Chairman and President of the company. |
| Use of Proceeds |
| The proceeds from the proposed offering will be contributed to the Bank to be used for general corporate purposes and to provide additional capital to the Bank, to retain more servicing rights and to grow and expand banking operations through the acquisition or establishment of new branches. |