Flagstar Agrees to Purchase Assets of Opes Advisors

April 24, 2017

On April 3, 2017, Flagstar Bancorp, Inc. announced it agreed to acquire certain assets from Opes Advisors, Inc.

Flagstar Bancorp, Inc. (“Flagstar”) agreed to acquire assets of Opes Advisors, Inc. (“Opes”). The transaction is expected to close within the next month, subject to customary conditions. Terms of the deal were not disclosed. Flagstar will operate Opes under its own brand but as a separate division. Keefe, Bruyette & Woods served as financial advisor to Opes.

Flagstar is a savings and loan holding company with $14.1 billion in assets. Opes is a mortgage bank and financial advisory firm. Opes financial advisory division represents $325 million in assets under management.

To read the press release: please click here.


Categories

Investment Manager M&A, Transactions