Flagstar Bank reviews

1) Company is struggling to find relevancy in the mid-sized bank space. Technology is behind, product offerings are mediocre, pricing is merely competitive, no real niche 2) Merger restructuring - it feels like just about anything is subject to change, but not for actual improvements, only for efficiencies. It feels like the current bank is positioning for another future sellout to a competitor 3) Telemarketing - the new approach to connecting with customers is by dialing up customers based on “triggers” found in their banking history. The expectation is calling at least 80 customers per week per branch from this list. 4) Incentive Plan - the new 2023 edition removes product goals, and instead uses measurements around primary checking acquisition, deposit growth, loan growth, and non-interest income growth. The problem with this new system is that inputs don’t have direct correlation to outputs. Branches achieving success can’t pinpoint how they achieved it, and likewise “non-performing” branches can’t see any reward for achievements.

Mass layoffs without any warning and some completely blindsided. Management wouldn’t say what the criteria was for who would stay or go in future layoffs just that it wasn’t job performance. After layoffs the CEO didn’t even acknowledge them, just bragged about going on vacation with his family.