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This year has not been kind to retailers in terms of store closures. But brick-and-mortar shops are not the only retail category that has experienced a decline in 2025. Banks are closing retail locations, too. One of Americas largest regional banks, Flagstar, closed 24 branch locations on May 30. The closures come after the banks parent company, Flagstar Financial, announced in January that it would be shuttering 60 branches this year. Heres what you need to know about the latest Flagstar branch closures. Whats happened? On May 30, Flagstar shut 24 bank branches for good, according to the Office of the Comptroller of the Currency (OCC), which is an independent bureau of the U.S. Department of the Treasury. The OCC regulates national banks in the United States. In its weekly bulletin for the period from May 25 to May 30, 2025, the OCC says that 24 Flagstar Bank branches were closed. However, the closures did not come as a surprise, as the company announced in January that it would shutter 60 branches. As Banking Dive previously reported, Flagstar Financial announced it would close the locations in an effort to consolidate its retail footprint and cut $600 million in operating costs from its balance sheet by the end of the year. Running physical locations incurs significant operating costs, and as more people turn to online banking first and try to avoid visiting branches if possible, those branches are used less, leading to a reduced return on investment for banks. Which Flagstar Bank branches have closed? According to the OCC, 24 Flagstar Bank branches closed on May 30. The branch closures impact locations in five states: Indiana, Michigan, New Jersey, New York, and Ohio. New York saw the most Flagstar Bank branches close in this round, with nine locations shutting down. Michigan and New Jersey saw six locations each shutter. Indiana saw two close and Ohio one. Fast Company reached out to Flagstar for comment and to ask if additional closings are expected. Here are the locations of the closed branches in each state. Indiana 5770 COVENTRY LANE FORT WAYNE IN 2926 MISHAWAKA AVENUE SOUTH BEND IN Michigan 210 WEST HURON STREET ANN ARBOR MI 29049 JOY ROAD WESTLAND MI 914 CHARLEVOIX DRIVE GRAND LEDGE MI 4675 32ND AVENUE HUDSONVILLE MI 5151 CORPORATE DRIVE TROY MI 500 WOODWARD AVENUE, Detroit, MI New Jersey 949 BROADWAY BAYONNE NJ 142 BROAD STREET ELIZABETH NJ 36 FERRY STREET NEWARK NJ 198 JEFFERSON STREET NEWARK NJ 2624 MORRIS AVENUE UNION NJ 133 S. LIVINGSTON AVENUE LIVINGSTON NJ New York 30TH AVENUE, ASTORIA, NY 625 ATLANTIC AVENUE BROOKLYN NY 102 DUFFY AVENUE HICKSVILLE NY 1608 KINGS HIGHWAY HOMECREST (BKLYN) NY 66-77 FRESH POND ROAD RIDGEWOOD NY 65-30 KISSENA BLVD. FLUSHING NY 509 OLD COUNTRY ROAD PLAINVIEW NY 194-02 NORTHERN BOULEVARD FLUSHING NY 100 JERICHO QUADRANGLE JERICHO NY Ohio ONE NORTH HAWKINS AVE. AKRON OH Flagstar’s stock price soars since closure announcement While many people prefer the ease and convenience of online banking, closures of physical bank branches can still have a negative impact on communities and certain groups of individuals. This is particularly true for older individuals who may not be as adept at using the internet or app-based banking, or who may simply prefer to visit a physical branch location to discuss their banking needs with a representative. Still, financial companies looking to cut costs often turn to branch closures as the quickest way to do so (that, and employee layoffs). And investors in those banks generally react favorably to those types of moves. Indeed, since Flagstar announced in January that it would close 60 branches, the companys stock price (NYSE: FLG) has soared. At the start of the year, FLG stock was trading in the $9 range. But by the end of January, after the company announced the branch closures, FLG stock jumped to nearly $12 per share. Year-to-date, FLG stock is currently up over 27% as of the time of this writing. On April 25, Flagstar Financial announced its Q1 2025 earnings, in which the company revealed that its operating expenses declined 22% year-over-year. The company says that as of March 31, Flagstar Bank held $97.6 billion in total assets, $73.9 billion in total deposits, and operated approximately 400 locations. Its online branch locator tool shows that as of today, there are 363 Flagstar Bank locations in the United States.
Category:
E-Commerce
The U.S. and China held a second day of talks Tuesday in London aimed at easing their trade dispute, after President Donald Trump said China is “not easy” but the U.S. was “doing well” at the negotiations.A Chinese delegation led by Vice Premier He Lifeng met U.S. Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer for several hours on Monday at Lancaster House, an ornate 200-year-old mansion near Buckingham Palace.Wang Wentao, China’s commerce minister, and trade negotiator Li Chenggang are also in Beijing’s delegation.Lutnick said as he arrived Tuesday morning that the talks were “going well,” and he expected them to continue all day.Asked late Monday how the negotiations were going, Trump told reporters: “We are doing well with China. China’s not easy.”The two sides are trying to build on negotiations in Geneva last month that agreed to a 90-day suspension of most of the 100%-plus tariffs they had imposed on each other in an escalating trade war that had sparked fears of recession.Since the Geneva talks, the U.S. and China have exchanged angry words over advanced semiconductors that power artificial intelligence, visas for Chinese students at American universities and rare earth minerals that are vital to carmakers and other industries.Trump spoke at length with Chinese leader Xi Jinping by phone last Thursday in an attempt to put relations back on track. Trump announced on social media the following day that the trade talks would resume in London.China, the world’s biggest producer of rare earths, has signaled it may ease export restrictions it placed on the elements in April, alarming automakers around the world who rely on them. Beijing, in turn, wants the U.S. to lift restrictions on Chinese access to the technology used to make advanced semiconductors.Trump said that he wants to “open up China,” the world’s dominant manufacturer, to U.S. products.“If we don’t open up China, maybe we won’t do anything,” Trump said at the White House. “But we want to open up China.” Associated Press writer Josh Boak in Washington contributed to this story. Jill Lawless, Associated Press
Category:
E-Commerce
The hit 1962 song Up on the Roof reminds listeners that when the world is getting you down, at night the stars put on a show for free. While not expressly stated in Carole King and Gerry Goffins lyrics, it’s implied that the moon gets in on the action and romance as well. About once a month, the night sky takes things to the next level with a full moon. Junes offering, which is nicknamed the Strawberry Moon by the Old Farmers Almanac, is extra special for those in the Western Hemisphere because its peak will be at its lowest in almost 20 years thanks to a major lunar standstill. Lets break down the science of it all before we discuss how best to view the nighttime spectacular. Strawberry Moon: What’s in a name? The origin of the Strawberry Moon nickname comes from Native American culture and has nothing to do with the appearance of the full moon. The Algonquian, Ojibwe, Dakota, and Lakota people used the moniker because that’s when the delicious summertime fruit is ripening and ready to be picked. This year, because of the moons low position and the wildfires in Canada, the orb might actually have a pinkish tint. Why is the full moon so low this month? The Strawberry Moon is always low because of the time of year. The orb is always opposite the sun and Junes full moon takes place around the same time as the summer solstice, when the sun is at its highest point.This year it is even lower because of a recent major lunar standstill. The Earth orbits the sun and the moon orbits the Earth, but in different planes. This 5 degree tilt impacts the appearance of the moon in the night sky. Every 18.6 years, this tilt goes through a cycle of change. When the moon is in the highest or lowest periods of this cycle, it is called a major lunar standstill. When is the best time to see the Strawberry Moon? The Strawberry Moon will reach peak illumination at 3:43 a.m. on Wednesday, June 11. If that seems too early, never fear, you can catch it this evening (Tuesday, June 10) and it will already appear full to the naked eye. Theres no need to lose any sleep. In fact, thanks to the moon illusionthe phenomenon that makes the orb seem bigger near the horizon because our brains compare it to nearby objects, such as trees and buildingsit is better to view it when it is rising: If you are in New York City, this takes place at 8:26 p.m ET Moon watchers in Los Angeles should look up at 8:05 p.m. PT. To find out when the moonrise occurs in your city, use this handy tool from TimeandDate. Once you know the optimal time, head up on a roof, preferably away from city lights and enjoy the show. Your cares might just drift right into space like King and Goffin promised.
Category:
E-Commerce
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