TROY, Mich., May 31, 2017 /PRNewswire/ -- Flagstar Bank has been named to Kiplinger's Personal Finance's first-ever rankings of the Best Banks in the U.S. To identify the crème de la crème, the magazine picked a winner and runner-up among national banks, nationally available credit unions and internet banks, plus the best bank in each of four regions, as well as the top and runner-up institutions in a number of personalized categories.
Flagstar Bank was named winner in the Best Regional Banks—Midwest category. Banks were rated on consumer-friendly features and product sets.
"We're pleased to have Kiplinger validate what we've been doing for 30 years—crafting custom solutions for our customers that allow them to be successful," said Drew Ottaway, president of Flagstar's Michigan market. "Congratulations to the entire Flagstar retail team for developing and delivering products that put customer needs front and center."
"While banks are on a mission to cut costs and raise revenues—with customers getting caught in the crossfire—some institutions are making all the right moves to win satisfied customers, and we're proud to say we were able to name them in our first-ever Best Banks list," said Janet Bodnar, editor, Kiplinger's. "One of the most important, personal decisions consumers make is where to keep their money. Since situations vary, our goal is to help people make informed choices for themselves and their families."
The editors at Kiplinger's Personal Finance used data from Moebs Services, a Lake Forest, Ill., economic research firm, to rank national and regional banks and thrifts, credit unions, and internet banks. The process to select the best started with all 11,831 U.S. depositories as of year-end 2016. To identify the soundest financial institutions, the list was screened for asset size, excess fees, high expenses and sufficient capital. For each specific customer profile, the editors started with top financial institutions identified by the Moebs rankings and then added their own research and judgment to find banks, thrifts and credit unions with accounts and features most appealing to each group.
The complete rankings are now available online at Kiplinger.com, along with in-depth profiles of the selected institutions. The ranking will be available in print in the July 2017 issue of the magazine, on newsstands June 6.
Flagstar Bancorp, Inc. (NYSE: FBC) is a $15.4 billion savings and loan holding company headquartered in Troy, Mich. Flagstar Bank, FSB, provides commercial, small business, and consumer banking services through 99 branches in the state. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as through 43 retail locations in 23 states. Flagstar is a leading national originator and servicer of mortgage loans, handling payments and record keeping for $83 billion of home loans representing 393,000 borrowers. For more information, please visit flagstar.com.
For nine decades, the Kiplinger organization has led the way in personal finance and business forecasting. Founded in 1920 by W.M. Kiplinger, the company developed one of the nation's first successful newsletters in modern times. The Kiplinger Letter, launched in 1923, remains the longest continuously published newsletter in the United States. In 1947, Kiplinger created the nation's first personal finance magazine. Kiplinger.com is the fastest growing Web site in the personal finance space. Located in the heart of our nation's capital, the Kiplinger editors remain dedicated to delivering sound, unbiased advice for your family and your business in clear, concise language. Become a fan of Kiplinger on Facebook or Kiplinger.com and follow Kiplinger on Twitter, LinkedIn and Tumblr.
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SOURCE Flagstar Bank