Flagstar Bancorp Announces Quarterly Dividend

    TROY, Mich., April 24 /PRNewswire Interactive News Release/ -- Flagstar
 Bancorp, Inc. (Nasdaq:   FLGS), holding company of Flagstar Bank, FSB, today
 declared a first quarter dividend of $0.10 per share.  The dividend is to be
 paid on May 15, 2001 to shareholders of record on April 30, 2001.
     Separately, the Board of Directors of Flagstar Bancorp, Inc. announced
 first quarter net earnings of $11.0 million, or $0.85 per share - diluted.
     Flagstar Bancorp's wholly owned subsidiary, Flagstar Bank, FSB, which has
 $6.4 billion in total assets, is the largest independent savings institution
 headquartered in Michigan.  Flagstar currently operates 59 bank branches with
 $2.1 billion in retail deposits, including the Company's Internet branch which
 is accessible at www.flagstar.com .  The Flagstar banking centers are located
 in southern Michigan and Indiana.  Flagstar also operates 49 loan origination
 centers located predominantly in Michigan and 15 correspondent lending offices
 located across the United States.  Flagstar Bank is one of the largest
 originators of residential mortgage loans in the United States.
     The information contained in this release is not intended as a
 solicitation to buy Flagstar Bancorp, Inc. stock and is provided for general
 information.
 
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SOURCE  Flagstar Bancorp, Inc.

    TROY, Mich., April 24 /PRNewswire Interactive News Release/ -- Flagstar
 Bancorp, Inc. (Nasdaq:   FLGS), holding company of Flagstar Bank, FSB, today
 declared a first quarter dividend of $0.10 per share.  The dividend is to be
 paid on May 15, 2001 to shareholders of record on April 30, 2001.
     Separately, the Board of Directors of Flagstar Bancorp, Inc. announced
 first quarter net earnings of $11.0 million, or $0.85 per share - diluted.
     Flagstar Bancorp's wholly owned subsidiary, Flagstar Bank, FSB, which has
 $6.4 billion in total assets, is the largest independent savings institution
 headquartered in Michigan.  Flagstar currently operates 59 bank branches with
 $2.1 billion in retail deposits, including the Company's Internet branch which
 is accessible at www.flagstar.com .  The Flagstar banking centers are located
 in southern Michigan and Indiana.  Flagstar also operates 49 loan origination
 centers located predominantly in Michigan and 15 correspondent lending offices
 located across the United States.  Flagstar Bank is one of the largest
 originators of residential mortgage loans in the United States.
     The information contained in this release is not intended as a
 solicitation to buy Flagstar Bancorp, Inc. stock and is provided for general
 information.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X26285772
 
 SOURCE  Flagstar Bancorp, Inc.

RELATED LINKS

http://www.flagstar.com