FLAGSTAR BANK, N.A. HIRES MICHELE CELESTINO TO LEAD PRIVATE BANKING EXPANSION INTO FLORIDA

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Flagstar Bank, N.A. (NYSE: NYCB) hires Michele Celestino from First Republic Bank as Executive Vice President and Head of Commercial and Private Banking, Southeast. With nearly 30 years of banking experience, she will be responsible for hiring and client acquisitions for the private banking group in the region.

HICKSVILLE, N.Y., Aug. 10, 2023 /PRNewswire/ -- Flagstar Bank, N.A. (the "Bank"), the bank subsidiary of New York Community Bancorp, Inc. (NYSE: NYCB) (the "Company"), announced today the hiring of Michele Celestino as Executive Vice President and Head of Commercial and Private Banking, Southeast.  She joins the Company from First Republic Bank, where she spent more than 20 years, most recently as Deputy Regional Managing Director for the Florida market.  At First Republic, she worked with several teams that recently joined Flagstar Bank, N.A. Overall, she has nearly 30-years of banking experience.

In her new role, Michele will be responsible for hiring and client acquisitions for the private banking group in the region.

Commenting on Mrs. Celestino's hire, President and Chief Executive Officer Thomas R. Cangemi said, "The Bank already has a strong retail banking presence in Florida, especially in Palm Beach, Broward, and Collier counties and has operated successfully there since 2009.  Expanding the private banking model into the state is a logical next step for us.  We look forward to capitalizing on the opportunities created earlier this year to deliver our best-in-class, single-point-of-contact model to high-net worth individuals and business owners in the region."

Eric Howell, Senior Executive Vice President and President of Commercial and Private Banking added, "Florida is an ideal market for Flagstar Bank and Michele is the ideal person to lead this initiative.  She has extensive knowledge of the market and a superb reputation among both her clients and her peers.  I know she will do an excellent job building out our private banking model within Flagstar's existing franchise in the state."

About New York Community Bancorp, Inc.

New York Community Bancorp, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the country. The Company is headquartered in Hicksville, New York with regional headquarters in Troy, Michigan. At June 30, 2023, the Company had $118.8 billion of assets, $84.9 billion of loans, deposits of $88.5 billion, and total stockholders' equity of $11.1 billion.

Flagstar Bank, N.A. operates 436 branches, including strong footholds in the Northeast and Midwest and exposure to high growth markets in the Southeast and West Coast. Flagstar Mortgage operates nationally through a wholesale network of approximately 3,000 third-party mortgage originators. In addition, the Bank has 127 private banking teams located in over 10 cities in the metropolitan New York City region and on the West Coast, which serve the needs of high-net worth individuals and their businesses.

New York Community Bancorp, Inc. has market-leading positions in several national businesses, including multi-family lending, mortgage origination and servicing, and warehouse lending. The Company is the 2nd largest multi-family portfolio lender in the country and the leading multi-family portfolio lender in the New York City market area, where it specializes in rent-regulated, non-luxury apartment buildings. Flagstar Mortgage is the 8th largest bank originator of residential mortgages for the 12-months ending June 30, 2023, while we are the industry's 5th largest sub-servicer of mortgage loans nationwide, servicing 1.6 million accounts with $426 billion in unpaid principal balances. Additionally, the Company is the 2nd largest mortgage warehouse lender nationally based on total commitments.

Investor and Media Contact:

Salvatore J. DiMartino (516) 683-4286

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SOURCE New York Community Bancorp, Inc.

FAQ

Who is Michele Celestino and what is her new role at Flagstar Bank, N.A.?

Michele Celestino is the new Executive Vice President and Head of Commercial and Private Banking, Southeast at Flagstar Bank, N.A. She joins from First Republic Bank and will be responsible for hiring and client acquisitions for the private banking group in the region.

What is Flagstar Bank, N.A.'s expansion plan in Florida?

Flagstar Bank, N.A. plans to expand its private banking model into Florida, specifically targeting high-net worth individuals and business owners in the region.

What are the comments from the executives at Flagstar Bank, N.A. about Michele Celestino's hire?

President and CEO Thomas R. Cangemi sees the expansion into Florida as a logical next step for the bank, while Senior EVP Eric Howell believes Michele is the ideal person to lead this initiative due to her extensive knowledge of the market and superb reputation among clients and peers.