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Pending Acquisition | 6 Months Ended
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Jun. 30, 2022
Business Combinations [Abstract] |
Pending Acquisition | Note 13. Pending Acquisition Extension of Merger Agreement with Flagstar Bancorp, Inc. On April 26, 2021, the Company announced that it had entered into a definitive merger agreement (the "Merger Agreement") under which we would acquire Flagstar Bancorp, Inc. ("Flagstar") in a 100% stock transaction initially valued at $2.6 billion (the "Merger"). On April 27, 2022, both sides agreed to amend the agreement (the "Amendment"). Under the Amendment, the Company and Flagstar have agreed to extend the merger agreement termination date to October 31, 2022. In connection with the extension, both parties amended the merger agreement to provide that the combined company's ongoing banking operations will seek to operate under a national bank charter. Under the Amendment, the only bank regulatory approvals required to consummate the merger are the OCC and the FRB. New York State Department of Financial Services Approves Flagstar Bancorp, Inc. Merger On April 27, 2022, the NYSDFS notified the Company that it had approved its pending merger with Flagstar Bancorp, Inc. Notwithstanding this approval, both parties announced that the combined organization will seek to operate under a national bank charter.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI https://asc.fasb.org/topic&trid=2303972 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 5 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4946-128472 + Details
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