flagstar: Flagstar Bank to Exit Atlanta Market as PNC Bank Enters Earlier - 07/27/11 04:10 AM
It was announced yesterday that Flagstar Bank intends to exit the Atlanta, GA banking market. The Michigan based bank will sell its 27 Atlanta area branches to Pittsburgh, PA based PNC Bank. The deal is set to close in December 2011.
This announcement comes only a few weeks after PNC announced its plans to acquire the US retail operations of Royal Bank of Canada, including its Raleigh, NC based RBC Bank.  That deal is set to close March 2012.
Flagstar entered the Atlanta market in 2007 by building a new network of branches.  RBC Bank entered the Atlanta market in 1998 with its … (5 comments)