New York Community Bancorp in Hicksville will rebrand as Flagstar Financial.
The $119 billion-asset company said in a press release that the name change will take place on Oct. 25.
The rebrand marks “another milestone in our ongoing transformation,” Joseph Otting, the company’s chairman, president and CEO, said in the press release.
“Over the past six months, the board … and management have made remarkable progress in laying a strong foundation for the future,” Otting added. “We’ve diversified our business model, established relationship-driven businesses, and continue to recruit top-tier talent with expertise in advancing our vision.”
New York Community had already rebranded its bank as Flagstar after it bought the Michigan banking company.
Otting took over management of New York Community after a group infused $1 billion into the company. The company has been dealing with issues tied to its commercial real estate loan portfolio.