Due to financial instability, Sac City, Iowa-based Citizens Bank has been placed in receivership by the FDIC, marking the fifth U.S. bank failure reported this year.
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OCC Approves NYCB/Flagstar Merger
Once finalized, the combined entity will operate nearly 400 branches across nine states, and its mortgage division will operate nationally through 81 retail lending offices in 26 states, with a wholesale network of approximately 3,000 third-party originators.
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