Flagstar Bank Strengthens South Florida Presence with New Office in Palm Beach

Expanding Private Banking in Palm Beach

Flagstar Bank, N.A. has officially unveiled its Private Client Office at 230 Royal Palm Way in Palm Beach, FL, marking a significant step in its strategic growth within South Florida. This new opening reflects the bank's enhanced dedication to serving high-net-worth individuals in one of the nation's most vital private wealth markets.

Mark Pittsey, who leads Flagstar's Private Banking and Wealth division, emphasized how this development is rooted in both the strength of the local team and its commitment to delivering personalized, relationship-based banking experiences. "Our objective is to guide clients through every stage of their financial journey, from developing businesses to managing personal wealth and future planning," he stated. This approach emphasizes the bank's focus on understanding local dynamics, which allows them to provide relevant and long-lasting financial advice.

The Palm Beach Private Client Office is designed to cater to affluent individuals, business owners, and family offices. Its concierge-style setup provides a unique environment, distinct from conventional retail branches, where clients can enjoy private meeting spaces and tailored services. Such bespoke offerings are aimed at ensuring the highest levels of client privacy and satisfaction.

At the helm of this new office is Michele Celestino, an experienced executive with longstanding community ties. She leads a dedicated team, many of whom hail from First Republic Bank, bringing considerable expertise and a well-established network. This local leadership is positioning Flagstar to serve affluent clients with acumen and personalized support.

Flagstar also maintains a significant corporate banking presence in Miami, guided by Fred Aldin. The bank is poised for continued expansion across the state to meet the increasing need for customized financial services, indicating a robust commitment to the Florida market.

Flagstar Financial, Inc., the parent company of Flagstar Bank, is one of America’s largest regional banks, with extensive assets and a broad national footprint. As of June 30, 2025, it reported assets surpassing $92 billion and a growing presence in high-demand markets, including Florida. This strategic move into Palm Beach exemplifies Flagstar's intent to deepen its roots within this affluent region and cater to the specific financial needs of its wealthy clientele. The bank operates nearly 360 locations across nine states, solidifying its position not only in Florida but also in major metropolitan areas in the Northeast and Midwest.

The opening of the Palm Beach office brings forth a promise of innovative banking solutions for affluent clients who require expert guidance, community understanding, and a tailored banking experience. As Flagstar Bank embarks on this exciting chapter, it seeks to forge lasting relationships with its clients while responding to their diverse financial needs efficiently and effectively.

Furthermore, Flagstar's continuous investment in South Florida highlights its recognition of the region as a pivotal area for private wealth management and economic growth. With its ethos rooted in relationship-based service, the bank seeks not just to meet the expectations of its clients but to exceed them. As they move forward, the focus on providing quality, personalized services will be a cornerstone of Flagstar's mission in Florida and beyond.