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Flagstar Announces Executive Leadership Appointments

Stocks in this article: FBC









TROY, Mich., Dec. 21, 2012 /PRNewswire/ -- Flagstar Bancorp, Inc. (NYSE: FBC), together with its subsidiary, Flagstar Bank, FSB (the "Company") today announced two appointments to the Company's executive leadership team.  Alessandro ("Sandro") DiNello, currently Executive Vice President, Personal Financial Services, has been named President and Chief Administrative Officer of Flagstar Bank and Matthew Kerin, currently Executive Vice President, Managing Director of Mortgage Banking, has been named President, Mortgage Banking.  The formal appointments are subject to receipt of regulatory non-objection.

"We are pleased to congratulate Sandro and Matt on their new roles," said Michael Tierney, President and Chief Executive Officer of Flagstar Bancorp, Inc.  "Together they have over 60 years of financial services expertise across retail, consumer and commercial banking, and I know that they will continue to enhance Flagstar's culture of compliance in their respective business areas.  Sandro and Matt are both committed to the continued safety and soundness of Flagstar, with a strong focus on quality, risk management and good governance, and together, we will lead Flagstar into the future."

As President and CAO of Flagstar Bank, Mr. DiNello will be responsible for all banking operations.  Mr. DiNello will also lead the Company's efforts to coordinate and ensure compliance with its regulatory agreements.  He joined the Company in 1979 and has served in various senior management roles, including Executive Vice President, Retail Banking.

"I look forward to taking this new position at Flagstar," Mr. DiNello said.  "Having been a part of this organization for over 30 years, I have never been as excited about our future as I am today.  While there is still work to be done to further enhance our risk management and controls, systems and processes, we remain focused on continuing to do so.  We are building a best-in-class bank that utilizes first-rate management information systems and operational metrics to drive every decision that we make.  Our renewed focus on technology and information, as well as our strong commitment to good governance, will prepare Flagstar, its management and its board for success for years to come."

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