04:57 PM EST, 12/13/2024 (MT Newswires) -- Flagstar Financial ( FLG/PU ) said Friday it named Lee Smith as chief financial officer, effective Dec. 27.

The appointment follows CFO Craig Gifford's decision to "step down to reengage in personal endeavors outside of the banking industry," Flagstar said.

Gifford will stay with the bank through March 31 and will work with Smith during the transition period, the firm said. Smith joined legacy Flagstar Bancorp in 2013.