Downtown Flagstar Bank closing; What does it mean?

The Downtown Cleveland office building formerly known as Ohio Savings Plaza
has not only lost its name from its façade. It's also losing its former main bank
branch, now under the name Flagstar Bank, from the building's ground
floor (Google). CLICK IMAGES TO ENLARGE THEM.

Customers who have accounts at Flagstar Bank’s Downtown Cleveland branch received letters this week saying that the branch will be closing and that all accounts will be moving soon to Flagstar’s Ohio City branch. But the $2.6 billion question is: why?

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