ATLANTA, March 5 /PRNewswire-FirstCall/ -- Flagstar Bank today opened its first banking center in a Wal-Mart store in Georgia. The new in-store branch is located in the Wal-Mart at 5455 Atlanta Highway in Alpharetta. Flagstar has more than 40 in-store branches in Michigan and Indiana, its two other banking states.

Hours at the banking center are 10 a.m. to 7 p.m. Monday through Friday, 10 a.m. to 4 p.m. Saturday and noon to 4 p.m. Sunday.

"We're pleased to offer customers the convenience of banking where they shop," said Dave Baukema, manager of the bank's Georgia division. "We're also pleased to bring a second banking center to the Alpharetta community."

Flagstar Bank is a subsidiary of Flagstar Bancorp , a bank holding company headquartered in Troy, Mich. With $15.8 billion in assets, Flagstar Bancorp is the largest publicly held savings bank headquartered in the Midwest. At December 31, 2007, Flagstar operated 164 banking centers in Michigan, Indiana and Georgia and 143 home loan centers in 27 states. Flagstar originates home loans nationwide and is one of the leading originators of residential mortgages. For more information, please visit www.flagstar.com.