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Flagstar Bank

Regional bank offering diversified financial services

Relationship Manager - Private Banking

Full-Time
$100k - $125k+ Variable incentives + Bonuses + Commissions + Other awards
Mid
New York, NY, USA
In Person
Finance & BankingRetail & Commercial Banking

About the job

Requirements
  • A high school diploma or equivalent (GED, HiSET, TASC, or foreign equivalent) is required.
  • At least 3 years of experience is required.
  • Strong knowledge of financial products and services, including lending and cash products.
  • Ability to build and maintain effective relationships with stakeholders through clear communication, proactive collaboration, and cross-functional insights.
  • Ability to identify client needs and deliver tailored solutions to enhance the client experience.
Responsibilities
  • Develop and expand existing relationships through sales efforts, engaging product partners as appropriate to deliver the bank’s services and meet client needs.
  • Oversee account management, including opening new accounts, follow-up, communications, and maintenance.
  • Service current client relationships to maintain goodwill and gain additional business; handle sensitive client relationships and larger client needs.
  • Analyze problems, answer client inquiries, research issues, and respond accordingly, coordinating with other departments as needed.
  • Coordinate with and assist back-office personnel in resolving credit problems, delinquent payment issues, and related matters.
  • Assist the Group Director in developing and executing efforts to acquire targeted new-to-bank relationships.
  • Review reports such as check fraud, significant activity, significant change, large deposit, detailed transaction, and month-end reports; investigate and approve when needed.
  • Perform special projects and additional duties and responsibilities as required.
  • Adhere to regulatory and compliance policies and standards, complete required compliance training, and maintain compliance with applicable federal, state, and local laws and regulations.
  • Support a positive work culture and productive work environment by fostering effective relationships with customers and stakeholders.

About the company

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Flagstar Bank

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Website

Flagstar Bank is a regional bank that offers a broad range of financial products and services through its 418 branches in 10 states, complemented by digital channels. It operates with a customer-first mindset, emphasizing local market expertise, personalized solutions, and community focus. Its products work through a combination of branch-based relationship banking and technology-enabled services to meet customers’ financial needs. What sets Flagstar apart is its emphasis on local knowledge, community involvement, and diverse, inclusive workplace culture, rather than solely relying on scale or standard products. The company’s goal is to deliver a new energy in banking that opens doors for customers’ financial and personal success while strengthening the communities it serves.

Company Size

1,001-5,000

Company Stage

IPO

Headquarters

Troy, Michigan

Founded

1987

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Simplify's Take

What believers are saying

  • Second-quarter 2026 net income hit $34 million, third straight profitable quarter.
  • CET1 reached 13.16% and liquidity climbed to $27.5 billion by July 2026.
  • The board approved a $250 million buyback on July 24, 2026.

What critics are saying

  • The Supreme Court docketed Flagstar Bank, N.A. v. Kivett on June 3, 2026.
  • Angus settlement hearings run October 1, 2026 over breach claims and delayed notice.
  • A CRE bust and mortgage-servicing losses wipe out capital and force rescue financing.

What makes Flagstar Bank unique

  • Flagstar pairs a national mortgage platform with 340 branches across nine states.
  • Its $61.2 billion loan book still spans commercial real estate, C&I, and consumer banking.
  • Joseph Otting’s 2026 restructuring centralized banking, finance, and operations under one team.

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Benefits

  • Health Insurance
  • Dental Insurance
  • Vision Insurance
  • Life Insurance
  • Disability Insurance
  • Health Savings Account/Flexible Spending Account
  • Unlimited Paid Time Off
  • Flexible Work Hours
  • Remote Work Options
  • Paid Vacation
  • Paid Sick Leave
  • Paid Holidays

Company News

Real Estate News
Oct 24th, 2026
Flagstar's New York apartment loans face fresh pressure as credit costs rise.

Flagstar's New York apartment loans face fresh pressure as credit costs rise. Flagstar's third-quarter profit fell to $12 million as higher interest rates and rent-regulated New York apartment loans put pressure on credit costs. Summary. Flagstar Bank reported $12 million in third-quarter 2026 net income, down from $34 million in the preceding quarter. Higher rates and New York rent-regulated multifamily loans increased credit costs as NYC multifamily balances fell $531 million. New York apartment loans remain a costly problem for Flagstar Bank. The lender's third-quarter earnings showed another reduction in its multifamily portfolio, but higher interest rates and rent-regulated buildings continued to drive credit expenses upward. Flagstar's October 23 earnings release filed with the Securities and Exchange Commission reported $12 million in net income for the three months ended September 30, down from $34 million in the second quarter. The bank earned $3 million attributable to common shareholders, equivalent to one cent a diluted share. A year earlier, it had reported a $36 million quarterly net loss. The provision for credit losses increased $58 million from the preceding quarter. Management attributed much of the increase to higher rates, including their effect on New York City rent-regulated multifamily properties. The bank has been working to shrink that exposure while expanding commercial and industrial lending. A smaller apartment book, with stubborn risk. Flagstar's New York City multifamily loan balance fell $531 million, or 4%, during the quarter. Across multifamily and commercial real estate combined, the portfolio declined $1.1 billion, or 3%. The bank reported $1.2 billion in commercial real estate loan payoffs at par, 35% of which had been classified as substandard. Payoffs at par matter because they remove loans without the bank having to accept a discount to the amount owed. They do not, however, settle questions about the remaining portfolio. Flagstar's allowance coverage for multifamily loans with at least 50% rent-regulated units was 2.97%, compared with 1.63% for its total multifamily book. That difference indicates the bank continues to reserve more heavily against the rent-regulated segment. The lender reported $248 million more substandard loans and a $670 million increase in the broader criticized and classified loan category. Those classifications are measures of credit concern, not statements that every borrower has defaulted. Nonaccrual loans were described as relatively stable. Flagstar's situation reflects the difficulties facing some owners of regulated New York apartment buildings. Higher refinancing costs have coincided with restrictions on rent increases and, in some properties, substantial repair and operating expenses. Loan outcomes still depend on individual buildings, borrowers and financing structures. The bank did not provide a property-by-property breakdown in the headline earnings release. Commercial lending offsets part of the decline. Flagstar added $2 billion in commercial and industrial loans, an 11% quarterly increase that brought the category to $20.6 billion. Total loans grew $958 million to $61.9 billion, despite the apartment and CRE runoff. Net interest income rose $20 million, or 5%, to $460 million, and the net interest margin increased four basis points to 2.17%. Chief Executive Joseph Otting said the bank was still making progress toward a different loan mix but pushed back the full realization of its long-term strategic objectives from 2027 to 2028. That is a change in management's timetable, not an announced abandonment of the restructuring. Capital remained a buffer. The bank reported a common equity Tier 1 ratio of 12.38% and said it completed a $250 million share repurchase in early October. The quarter's net charge-off rate was 0.49% of average loans, compared with 0.66% in the prior period. The central question for lenders and investors is whether the pace of apartment-loan reductions can outrun the cost of carrying the weaker credits. Flagstar's latest numbers show progress on portfolio size alongside renewed pressure on reserves. Its next filings will help establish whether that balance is improving.

Yahoo Finance
Oct 24th, 2026
Flagstar shares fall 9.3% to $10.38 as Q3 profit shrinks to $3M

Flagstar Bank's shares fell 9.3% to $10.38 after the lender reported third-quarter 2026 results. Net income was $3 million, or $0.01 per share, against a loss of $45 million a year earlier. Revenue fell 5.6% to $454 million from $481 million. Net interest margin rose to 2.17% from 1.91%. The bank is shifting toward commercial and industrial lending and running down riskier multifamily commercial real estate loans. Net charge-offs fell from the previous quarter. Concerns remain. Full-year 2026 earnings guidance is $0.10 to $0.15 per share, and the target for peer-like returns has moved to 2028, a year later than planned. Provisions and criticized loans rose, and about $19 billion of commercial real estate loans face resets.

Los Angeles Business Journal
Oct 5th, 2026
BANKING & FINANCE: Mattoon. Shannon, Colin, Cook.

BANKING & FINANCE: Mattoon. Shannon, Colin, Cook. October 5, 2026 Rolland Mattoon has joined Five Star Bank as Senior Vice President/ Regional Managing Director. He has more than 25 years of experience working in the banking industry. Mr. Mattoon most recently served as Senior Vice President / Group Director at Flagstar Private Bank where he led a top-performing team and built significant loan and deposit portfolios. At Five Star Bank, Mr. Mattoon drives regional growth, strengthens client relationships, and delivers comprehensive banking solutions. He holds a bachelor's degree in organizational leadership from the University of Arizona Global. Mr. Mattoon is actively involved in the community and enjoys volunteering at Second Harvest Food Bank. Ryan Shannon has joined Five Star Bank as Senior Vice President/ Regional Managing Director. He has more than 20 years of experience working in the banking industry. Mr. Shannon most recently served as Senior Vice President/Group Director at Flagstar Private Bank where he led a high performing regional team and managed an extensive loan and deposit portfolio. At Five Star Bank, he drives regional growth and delivers tailored financial solutions to businesses in the Greater Los Angeles Area. Mr. Shannon is actively involved in the community through his volunteer work with the Make-A-Wish Foundation and as a long-standing youth sports coach with the YMCA. He has also completed advanced training in commercial credit, accounting, and leadership development. Kristi Colin has joined Five Star Bank as Vice President/ Director. She has more than 20 years of experience working in the banking industry. Ms. Colin most recently served as Vice President/ Associate Group Director at Flagstar Private Bank where she managed an extensive middle-market portfolio and delivered credit, deposit, and treasury solutions to business clients across the Greater Los Angeles Metro Area. At Five Star Bank, Ms. Colin builds long-term client relationships and delivers tailored financial solutions that support business growth in the Greater Los Angeles Area. Scott Cook has joined Five Star Bank as Vice President/ Director. He has more than 15 years of experience working in the banking industry. Mr. Cook most recently served as Vice President/Associate Group Director at Flagstar Private Bank, where he managed an extensive portfolio and delivered credit, deposit, and treasury solutions to middle-market businesses across the Greater Los Angeles Metro Area. At Five Star Bank, Mr. Cook builds strong client relationships and provides tailored financial solutions that support long-term business growth. He is actively involved in the community and volunteers with organizations including the Make-A-Wish Foundation and Big Brothers Big Sisters, supporting fundraising and youth mentorship initiatives in the Conejo Valley. For additional information: www.fivestarbank.com.

Family Wealth Report
Aug 28th, 2026
BNY Wealth makes senior hires.

BNY Wealth makes senior hires. Editorial staff August 28, 2026 New York headquartered BNY Wealth has bolstered its presence in Northern California by bringing together a highly experienced team with deep private banking expertise and long-standing connectivity across the region. BNY Wealth has made new additions to its team in San Francisco. Ken Kearns, has joined as senior director, and Casey Candelario and Jesus Castrence are named vice presidents, private banking. The team, who started this month, report to Christopher Brown, BNY Wealth's Northern California market president. Their appointments underscore BNY Wealth's commitment to Northern California as a strategic growth market and enhance the firm's ability to deliver the full breadth of its wealth management capabilities, spanning private banking, investment management, wealth planning and fiduciary services, to the region's growing ultra-high net worth population. Kearns, Castrence and Candelari, who have joined from Flagstar Bank, previously worked together at First Republic, where they built a strong, shared track record serving high net worth and ultra-high net worth individuals, families and business. Kearns is a banking professional providing private banking, wealth management, lending, and financial advisory services to emerging and high net worth individuals, families, and business owners. Prior to BNY Wealth, he was a managing group director and executive vice president for Flagstar Private Bank, where he was a "top producer" at a private client group, helping to build out the private bank. He also spent 12 years at First Republic Bank, most recently as a deputy regional managing director. At First Republic Bank, he was responsible for growing out and managing the East Bay region while maintaining his status as a producer throughout his tenure at the bank. Castrence, who is a private banker with BNY Wealth, has more than 25 years of experience in private banking and wealth management. He advises high net worth and UHNW individuals and families, family offices, business owners, corporations, and private equity professionals on customized banking, liquidity, credit, cash management, and treasury solutions. Prior to joining BNY Wealth, he served as associate director and vice president at Flagstar Private Bank and servded in a senior role with First Republic Private Wealth Management. A private banker with BNY Wealth, Candelario has over 11 years of financial services experience. He works with high net worth individuals to address their financial needs with a focus on residential lending. Before joining BNY Wealth, Candelario was a relationship manager and senior client services associate at Flagstar Private Bank. Prior to Flagstar, he was also a senior client services associate with an emphasis on residential lending with First Republic Bank.

wallstreet:online AG
Jul 27th, 2026
Zeta Global closes $1B credit facility to refinance debt and fund M&A

Zeta Global has closed a $1 billion credit facility to refinance its existing $550 million facility and reduce credit spreads. The new debt comprises a $250 million Term Loan A and a $750 million Revolving Credit Facility, which remains undrawn. The AI infrastructure company plans to use the facility for mergers and acquisitions, share repurchases, and general corporate purposes. Chief executive David Steinberg said the refinancing reduces cost of capital and strengthens liquidity whilst providing flexibility for pursuing acquisitions and executing share buybacks. BofA Securities served as Lead Arranger and Bookrunner, with Citi, JPMorgan, RBC Capital Markets, and Truist Securities as Joint Lead Arrangers. Zeta Global helps enterprises transform proprietary data into enterprise intelligence using AI.