Flagstar Bank aims for new branches in downtown, Midtown

Flagstar Bank has renovated and expanded its branch in Woodbridge, and is setting up a new branch in downtown Detroit and making plans to open another new branch in Midtown.

The Troy-based bank expects to employ more than a dozen people when all three branches are up and running. Four of those will be working at the branch inside the University Foods branch in Woodbridge and another six in the downtown Detroit branch.

"We feel like there are a lot of vibrant areas in the City of Detroit," says Mike Tierney, president of Flagstar Bank. "There is not a lot of banking competition so that makes it even more attractive."

Flagstar Bank has renovated and expanded its branch at University Foods, 1131 W Warren. It now costs of 1,450 square feet and has a drive-up window and ATM. It opened in late September. The 25-year-old bank is also opening a new branch in downtown Detroit in the One Detroit Center office building. That branch measures 3,400-square-feet and features a safe deposit facility, teller stations and an ATM. It is slated to open in late 2012. Flagstar Bank is also working to announce the pending opening of a third branch in Midtown within 30 days.

Source: Mike Tierney, president of Flagstar Bank
Writer: Jon Zemke

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