April 5, 2010 (FinancialWire) — Flagstar Bancorp, Inc. (NYSE: FBC) the holding company for Flagstar Bank, FSB, said that it has completed a registered offering of 575 million shares of common stock, which includes 75 million shares issued pursuant to the underwriters' over-allotment option, which was exercised in full on March 29.

The offering resulted in aggregate net proceeds of approximately $276.1 million, after deducting underwriting fees and estimated offering expenses.

Michigan-based Flagstar Bancorp is a savings and loan holding company. At December 31, 2009, the company operated 165 banking centers in Michigan, Indiana and Georgia and 23 home loan centers in 14 states and originates residential mortgage loans nationwide.

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