Flagstar Bank Expands into Atlanta; Names Ensley to Head Banking Operation

TROY, Mich., May 25 /PRNewswire-FirstCall/ -- Flagstar Bank (NYSE: FBC)

today opened its first banking center in greater metropolitan Atlanta. The

branch is located at 3720 New Macland Road in Powder Springs.

"We're entering Atlanta with what we believe are the best hours and the

best rates in the area," said Chris Ensley, who is heading up Flagstar's

Atlanta banking operation. Ensley is an Atlanta resident who previously was

Retail Group Manager for in-store and traditional branches at National Bank of

Commerce, now SunTrust. He had been with NBC in various capacities since

1992.

"Not only are our CD rates highly competitive, but we have a program that

guarantees our customers get the best local rate," Ensley said. "We also have

a lot to offer in terms of convenience. If customers can't get to us during

our extended hours, we'll meet them by appointment."

Ensley said Flagstar has had a lending presence in Atlanta since 1993.

The Powder Springs branch marks Flagstar's first foray into retail banking in

the market. "We plan to open five banking centers this year, as many as eight

in 2006, with many more down the line," Ensley said.

Lobby hours for the new banking center are 8:30 a.m. to 5:30 p.m., Monday

through Friday, 8:30 a.m. to noon Saturday and 12:30 p.m. to 2:30 p.m. Sunday.

The drive-up is open 7:30 a.m. to 7:30 p.m. Monday through Friday, 8:30 a.m.

to 4 p.m. Saturday and noon to 4 p.m. Sunday.

Customers also will be able to access Flagstar's banking services through

Allpoint's nationwide network of 32,000 ATMs and the Presto! network in 852

Publix Super Markets in Alabama, Florida, Georgia, South Carolina and

Tennessee. Both networks are surcharge-free to Flagstar Bank customers.

Flagstar Bancorp, which has $14.3 billion in total assets, is the second

largest banking institution headquartered in Michigan. Flagstar operates more

than 125 banking centers in Michigan, Indiana and Georgia, home loan centers

in 27 states and correspondent lending offices across the country. Flagstar

is one of the nation's leading originators of residential mortgage loans. For

more information, please visit http://www.flagstar.com .

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.