Flagstar Bank Offers Up to $500 in Free Gas with New Personal Checking Accounts

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Open a Flagstar personal checking account with direct deposit and become eligible to receive up to $500 in free gas fill-ups.*

For a limited time, Flagstar Bank is offering up to $500 in free gas fill-ups to new personal checking account customers at Flagstar banking centers in Indiana, as well as at Flagstar's in-store branches in Michigan, Indiana and Georgia. In-store branches are housed in select stores of retailers such as Wal-Mart and Meijer.

"With gas prices front and center on everyone's mind, we thought this would be a great way to reward customers for opening a new checking account with us," said David Joyce, director of Marketing for Flagstar Bank. "We call it our 'high octane checking.'"

Flagstar Bank offers a variety of personal checking accounts, ranging from Free Checking to eChecking. Joyce said the free gas promotion is an added bonus for opening one of Flagstar's highly competitive checking accounts.

To qualify for the free gas promotion, consumers must open a new personal checking account at a participating location and have at least $250 in automatic, recurring direct deposits per month in an open account for a minimum of six months. Minimum opening deposit on new checking accounts is $50.

Flagstar, the largest publicly held savings bank in the Midwest, offers a variety of flexible personal checking and savings accounts with competitive interest rates, free online banking and bill-pay, as well as other benefits.

About Flagstar
Flagstar Bank is a subsidiary of Flagstar Bancorp (NYSE: FBC), a bank holding company headquartered in Troy, Mich., with $14.6 billion in total assets. At June 30, 2008, Flagstar operated 170 banking centers in Michigan, Indiana and Georgia, and 121 home loan centers in 26 states. Flagstar originates home loans nationwide and is one of the leading residential mortgage lenders. For more information, visit http://www.Flagstar.com.

*$500 free gas offer available for new checking account customers only (no existing Flagstar checking account). For a limited time, open a primary checking account with an automatic, recurring direct deposit of income of at least $250 per month, excluding interest deposits, and you are eligible to receive up to $500 in free gas. Minimum opening deposit is $50. Direct deposit must be established within first 60 days of account opening to be eligible. All accounts must remain open and active for a minimum of six months. Offer available at locations only. See your Flagstar representative for more details. Offer not good in conjunction with any other coupons or checking account offers. Some restrictions apply. Limited to one offer per household. Offer subject to change or cancellation at any time without notice. Please see our policy page online at http://www.flagstar.com/gasoffer for additional rules and regulations.

Contact Information:
Susan Cherry/Flagstar Bank    
5151 Corporate Drive
Troy, MI 48098
(248) 312-6237


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Susan Cherry
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