8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 21, 2011

Flagstar Bancorp, Inc.

(Exact name of registrant as specified in its charter)

Michigan
(State or other jurisdiction of
incorporation) 1-16577
(Commission File
Number) 38-3150651
(I.R.S. Employer
Identification No.)

5151 Corporate Drive, Troy, Michigan
(Address of principal executive offices) 48098
(Zip Code)

(248) 312-2000
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Principal Officer; Election of Directors; Appointment of Principal Officer; Compensatory Arrangements of Certain Officers

Election of Directors

On June 21, 2011, the Boards of Directors of Flagstar Bancorp, Inc. and Flagstar Bank, FSB appointed Michael J. Shonka as a member of the respective Boards of Directors. In addition, on June 21, 2011, Mr. Shonka was appointed to serve as a member of the Audit Committee and Compensation Committee.

Mr. Shonka, age 63, is currently the managing partner of MJS Advisors, LLC, a provider of advisory services regarding mergers and acquisitions, working capital and business performance in aerospace, banking, and other sectors. Previously, Mr. Shonka was executive vice president and Chief Financial Officer of Cessna Aircraft Company from 1999 to 2010, after joining Cessna Aircraft Company in 1996 as senior vice president. Prior to that, Mr. Shonka served as executive vice president and Chief Financial Officer of Fourth Financial Corporation from 1988 until 1996. Mr. Shonka currently serves as a director and chairman of the audit committee of The NORDAM Group, Inc. and a director of IMA Financial Group, Inc.

Item 9.01 Financial Statements and Exhibits

     (d) The following exhibits are being furnished herewith:

Exhibit No.		Exhibit Description
	99.1	Press release dated June 21, 2011.

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	FLAGSTAR BANCORP, INC.
Dated: June 21, 2011	By:	/s/ Paul D. Borja
		Paul D. Borja
		Executive Vice-President and Chief Financial Officer

EX-99.1

EXHIBIT 99.1

 
                     
NEWS RELEASE
For more information, contact:
Paul D. Borja
Executive Vice President / CFO
Bradley T. Howes
Investor Relations Officer
(248) 312-2000
 
FOR IMMEDIATE RELEASE

FLAGSTAR ANNOUNCES THE APPOINTMENT OF MICHAEL J. SHONKA TO ITS BOARD OF DIRECTORS

TROY, Mich. (June 21, 2011) — Flagstar Bancorp, Inc. (NYSE:FBC) (the “Company”), the holding company for Flagstar Bank FSB (the “Bank”), today announced the appointment of Michael J. Shonka to the board of directors of the Company and the Bank. He will also serve on the audit committee and compensation committee of the board of directors.

“We are pleased to welcome Michael Shonka to Flagstar,” said Chairman and Chief Executive Officer Joseph P. Campanelli. “Michael has a wealth of experience that will be an asset to our board of directors.”

Mr. Shonka, 63, is currently the managing partner of MJS Advisors, LLC, a provider of advisory services regarding mergers and acquisitions, working capital and business performance in aerospace, banking, and other sectors. Previously, Mr. Shonka was executive vice president and Chief Financial Officer of Cessna Aircraft Company and executive vice president and Chief Financial Officer of Fourth Financial Corporation. He currently serves as a director and chairman of the audit committee for The NORDAM Group, Inc. and a director for IMA Financial Group, Inc.

Flagstar Bancorp, with $13.0 billion in total assets, is the largest publicly held savings bank headquartered in the Midwest. At March 31, 2011, Flagstar operated 162 banking centers in Michigan, Indiana and Georgia and 29 home loan centers in 14 states. Flagstar Bank originates loans nationwide and is one of the leading originators of residential mortgage loans.