Technology
Global Times: From tale of ‘Chang’e flying to the moon’ to legend of ‘Chang’e’ lunar exploration
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1 year agoon
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BEIJING, Feb. 12, 2025 /PRNewswire/ — The 15th day of the first month on the Chinese lunar calendar marks the Lantern Festival.
The moon is full in the sky, and families are reunited on Earth. This brings the story of “the lady Chang’e flying to the Moon,” as well as the mission of Chang’e lunar exploration to people’s minds.
From ancient myth to modern-day legend, we reflect on the integration of culture and technology, exploring the deeper driving forces behind China’s development. Innovative culture is undoubtedly one of the key elements.
With a history of over 5,000 years, the spirit of innovation, a most distinctive trait of the Chinese nation, has not only been internalized as an enduring spiritual heritage of the Chinese people and enriched the soil for an innovative culture, but also externalized in the practical development of the New Era, stimulating the momentum for innovative progress.
As the most technologically advanced lunar exploration mission in China’s space history to date, Chang’e-6 has established an important milestone in China’s lunar exploration program, offering a unique perspective through which we can observe the innovative spirit of the Chinese people and the innovative culture of the New Era.
In his 2025 New Year’s message, Chinese President Xi Jinping praised the technological innovation achievements such as how “the Chang’e-6 lunar probe collected samples from the far side of the moon,” stating that “all this epitomizes the lofty spirit and dreams of the Chinese people to explore stars and oceans.”
During a meeting with the representatives of space scientists and engineers who participated in the research and development of the Chang’e-6 lunar mission, Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, stressed that the achievements of the lunar exploration project embody the wisdom and hard work of several generations of Chinese aerospace workers, and demonstrate the remarkable accomplishment the country has made in scientific and technological self-reliance in recent years.
The New Era is far from ordinary. Why is it that China could always grow up in the baptism of wind and rain and emerge stronger after withstanding tests? In 2025, which marks the conclusion of the 14th Five-Year Plan (2021-2025), what enables the country to achieve its set goals? As China moves toward grand objectives, what empowers the country to overcome difficulties and challenges?
From the tale of “Chang’e flying to the moon” to the legend of “Chang’e” lunar exploration missions, people could see a vivid revelation of the secrets behind the continuous vitality of the Chinese nation and a bright future for vibrant Chinese modernization.
Dreams are never just dreams
The Chinese people possess the great spirit of dreaming and creation. As a cultural achievement of combining the basic tenets of Marxism with the excellent traditional Chinese culture, the innovative culture of the New Era inherits the genes of the excellent traditional Chinese culture and provides an endless source of power for the pursuit of dreams.
Xi has emphasized, “The Communist Party of China (CPC) Central Committee’s decision to implement the lunar exploration project is to pursue the nation’s unyielding dream of flying into the sky and reaching for the moon.”
The legend of “Chang’e flying to the moon” is also where dreams begin.
Over 2,000 years ago, the Qin bamboo slips in the text “Gui Cang” recorded the story of “Chang’e flying to the moon.” Qu Yuan, a patriotic poet from the ancient Chu state, which existed more than 2,200 years ago during the Warring States Period (475 BC-221 BC), first mentioned the moon rabbit in his long poem “Tianwen,” meaning “Heavenly Questions.” These ancient myths are beautiful and touching, with stories having been passed down through the ages in books and by word of mouth.
For thousands of years, from the verse in the ancient classic Book of Songs, to poet Li Bai’s “My heart yearns for the blue sky and to embrace the bright moon,” and to poet Su Shi’s “We share the beauty of the moon thousands of miles apart”… Classic cultural masterpieces shine like stars in the sky and these are the verses that people can recite effortlessly.
As far back as the Xia Dynasty (2070-1600 BC), ancient Chinese had developed the lunar calendar based on the cycles of the moon to guide agricultural production. During the Ming Dynasty (1368-1644), Wan Hu attempted to fly to the sky using a self-made rocket, becoming the first recorded “moon mission” in human history. The brilliant cultural lineage illuminates the past and present, a shared memory embedded in Chinese people’s genetic heritage.
“Exploring the vast universe, developing space programs and becoming an aerospace power have always been the dream we’ve been striving for.” In the luster of the Chinese people’s lives, dreams are never just dreams.
The legend of flying to the moon, the longing for the moon, and the ambition to embrace the moon have been passed down through civilization, and forged into an incredibly tenacious spirit – the courage to pursue and realize dreams.
In the late hours of December 15, 2013, Xi made a special visit to the Beijing Aerospace Control Center. At the same time, 380,000 kilometers away from Earth, the Chang’e-3 lunar probe successfully landed in the moon’s Sinus Iridium, or the Bay of Rainbows, and the first moon rover Yutu (Jade Rabbit) safely departed from the lander to explore the lunar surface.
Following the successful missions of Chang’e-3, Chang’e-4, Chang’e-5, and Chang’e-6, Xi met with space scientists and engineers who participated in these groundbreaking projects.
The Chinese top leader emphasized, “China is a big country and must attach importance to the real economy and take the path of self-reliance. Core technologies in key fields should be based on independent research and development.”
Xi also stressed promoting the lunar exploration spirit and giving full play to the advantages of the new system of pooling national resources and strengths to ascend the peak of science and technology, and serve the country’s overall development. He emphasized embarking on a new interplanetary exploration journey step by step, promoting the innovative development of China’s space exploration cause, and making greater contributions to humanity’s peaceful use of space.
These heartfelt innovation exhortations carry the weight of Chinese people’s earnest aspirations for pursuing dreams. Rooted in dreams, grounded in innovation, and realized through practical efforts – this is the logical framework of great undertakings.
“If foreigners could do it, why couldn’t we Chinese do it? ” This statement by Qian Xuesen, the founding father of Chinese aerospace exploration, encapsulates the ambition and determination of China’s researchers to reach new heights in technology.
“Mom, when I go to college, I want to study aerospace engineering. I will find a way to visit the moon and help Grandma and you realize this dream!” This was the aspiration of Ye Peijian, chief commander and designer of the Chang’e-1 project, who grew up listening to stories about the moon from his grandmother and mother, inspiring him to pursue a career in space exploration.
Dreams can be vast and grand, but the journey to realize them is often fraught with challenges, twists, and turns.
At the Beijing Planetarium, a piece of lunar rock no larger than a soybean quietly sits on display, attracting visits from numerous astronomy enthusiasts. In 1978, the US government gifted China this one gram lunar rock. Half of it was used for scientific research to uncover the rock’s “past and present,” while the other half was showcased for educational purposes.
“At that time, my dream was to have a piece of lunar rock that China had collected itself,” reminisced Ouyang Ziyuan, the first chief scientist for China’s moon exploration program, filled with emotion.
When dreams are ignited, the relentless efforts of countless dream chasers, nurtured by a culture of innovation, converge into an unstoppable force.
Since the beginning of the New Era, China has entered the best period for technological innovation.
From the Chang’e lunar missions to the “Tianhe,” the core module of China’s space station, the “Tianwen” Mars exploration and the shining “Beidou” satellite system, and from “Crust 1” delving deep into Earth to the “Fendouzhe (Striver)” submersible exploring the depths of the ocean – these remarkable achievements reflect the Chinese nation’s profound connection to the stars and the sea. They also serve as the most vivid manifestation of the innovative spirit that Chinese civilization has bestowed upon Chinese people.
A journey of trials and triumphs
There is no smooth road to innovation, let alone a shortcut. In the New Era, a culture of innovation inspires a spirit of perseverance in the face of challenges, paving the way for the realization of dreams.
In ancient Chinese mythology, there exists a unique spirit characterized by remarkable qualities – from Pangu creating the world, and Nuwa patching up the sky, to Kuafu chasing the sun, Jingwei filling up the sea and Yugong removing mountains. These tales not only ignite dreams and inspire wisdom, but also advocate for proactive engagement and encourage action.
On the journey of national rejuvenation, countless “impossibilities” have transformed into “certainties” through this unwavering pursuit of dreams. The tale of “Chang’e flying to the moon” has evolved into the legend of “Chang’e” lunar exploration, illustrating how myths can be transformed into legendary narratives.
This is the footprint of innovation, marked by a courageous spirit of exploration.
In January 2004, China’s lunar exploration program was officially initiated. In October 2007, Chang’e-1 was launched from the Xichang Satellite Launch Center in Southwest China’s Sichuan Province.
With a lack of components, no ground testing conditions, and uncertainty about how to reach the moon, a research team of scientists under the age of 30, on average, began developing the first artificial satellite to orbit the moon from scratch. Sun Jiadong, the program’s first chief designer, remarked, “From the moment Chang’e-1 took off for the moon, I knew that once the door to lunar exploration was opened, the pace of deep space exploration would not stop.”
On December 14, 2013, Chang’e-3 landed on the moon, marking the first time that China had sent a spacecraft to soft land on the surface of an extraterrestrial body. It pioneered thermal control technology for two-phase fluid circuits and was equipped with a 360-degree panoramic camera, an infrared spectrometer, and an X-ray spectrometer, along with a new landing buffer system, autonomous navigation, and remote control systems. “The more difficult the path, the more we want to explore it,” said Sun, reflecting the team’s innovative spirit.
After Chang’e-3 successfully landed on the moon, what was the backup Chang’e-4 to do? The answer was to go to the far side of the moon!
Following numerous debates, Wu Weiren, the chief designer of China’s lunar exploration program, insisted, “We should give Chang’e-4 greater vitality and more functions to explore the far side of the moon, which has never been reached by human spacecraft.”
In January 2019, Chang’e-4 made history by achieving the first soft landing on and exploration of the moon’s far side, leaving its first footprints in lunar exploration history. In December 2020, Chang’e-5 returned to Earth with 1,731 grams of lunar samples, marking China’s first extraterrestrial sample return while completing the three-step plan of orbiting, landing, and returning.
In June 2024, Chang’e-6 touched down on the far side of the moon and collected samples from this rarely explored terrain for the first time in human history. The launch schedules for Chang’e-7 and Chang’e-8 have been confirmed, and China plans to send humans to the moon by 2030.
As we embark on a new journey in this New Era, how do we continue to gain advantages, take initiative, and secure the future? The key lies in the spirit of daring to innovate and dream.
This is a collaborative force of innovation. A drill and a shovel may seem like simple tools, but ensuring their proper use on the moon involves complex innovations that embody the wisdom of many teams.
The design of lunar sampling equipment draws on geologists’ experiences of digging on Earth; the lunar soil structure detector developed by the Chinese Academy of Sciences acts as “eyes” providing information support; the “arm” for lunar soil collection is a robotic arm developed by a team from the Harbin Institute of Technology; and the strength of the “joints” and “hands” comes from the motor components and drilling subsystems developed by China Aerospace Science and Technology Corporation.
As China’s most complex and technologically advanced space system engineering project, the lunar exploration program is large-scale, systemically complex, and highly integrated, coordinated by the China National Space Administration and involving 3,000 institutes and nearly 100,000 participants.
“The three-step overall plan of the lunar exploration program could not have been completed on time without the traditional advantages of socialism in concentrating resources and the support of a new national system,” said Hu Hao, chief designer of the Chang’e-5 and Chang’e-6 missions.
When collective strength is harnessed, nothing is insurmountable. The government, enterprises, and research institutions work together, integrating five major systems: Satellites, launch vehicles, launch sites, measurement and control, and ground applications. From seasoned academicians to fresh graduates born in the 1990s, their unified collaboration has made the Chang’e program a collective effort, paving the way to the moon.
Innovation has always been fraught with challenges. China’s lunar exploration program has achieved six consecutive successes. The spirit of lunar exploration forged by researchers is a decisive factor in this success.
Xi has urged efforts to promote the spirit of lunar exploration, characterized by “chasing dreams, daring to explore, collaborating to overcome challenges, and achieving win-win cooperation,” to further enhance the national confidence and pride of all Chinese people, and build up a great force to comprehensively promote the building of a strong country and the realization of national rejuvenation through Chinese modernization.
This year’s Spring Festival Gala featured a collaborative performance of the yangge dance by humans and machines. Behind the robot’s ability to manipulate handkerchiefs lies the perfect support of AI-driven full-body motion control technology.
The production and sales of new energy vehicles have also exceeded 12 million units, maintaining the world’s top position for 10 consecutive years, reflecting the strong support of new quality productive forces. China’s grain output has reached a new milestone of 1.4 trillion jin (700 billion kilograms) for the first time, with technology helping farmers secure their “golden rice bowls,” showcasing the intrinsic motivation for building a strong agricultural nation.
The tide of the new era is surging. Countless stories of technological innovation are emerging, and an increasingly rich atmosphere of innovation culture is taking shape, providing stronger momentum for the giant ship “China” to move forward.
Only open cooperation is the right path
Technological progress is a global and contemporary issue, and only open cooperation is the right path. Continuously enriching and developing in an open and inclusive manner, and gathering the strength of the world through mutual learning and collaboration, are distinctive features of the innovation culture in the New Era.
Xi has pointed out: “The Chang’e lunar missions, which belong to both China and all people in the world, have provided a broad stage for international scientific and technological cooperation, and contributed Chinese wisdom and strength to the world’s deep space exploration.”
Opening international applications for lunar soil samples, Russian researchers discovered unusual metallic iron-like linear crystals in the lunar soil collected by the Chang’e-5 probe. Carrying international payloads such as the European Space Agency’s lunar surface ion analyzer, France’s lunar radon detector, Italy’s laser retroreflector, and Pakistan’s CubeSat satellite, the Chang’e-6 missions assisted Pakistan in capturing its first lunar image and helped France complete its first lunar landing space project.
“Outer space is the common territory of humanity, and space exploration is a common cause for all mankind.” The lunar exploration program has always been welcoming, promoting the global sharing of scientific achievements and ensuring that aerospace technology benefits humanity.
For Chang’e-1, to ensure 24-hour uninterrupted tracking, China collaborated with the European Space Agency and relevant departments in Chile, using four foreign tracking stations for control. For Chang’e-4, the neutron radiation detector aboard the lander was developed by Germany, and ground station that China built in Argentina played an important role in the monitoring and control of the mission.
Technological innovation has never been a solitary endeavor or a closed-door affair. One important reason for the success of the lunar exploration program is its unwavering commitment to open innovation, planning, and promoting technological development with a global perspective, and strengthening international cooperation in all aspects.
Open cooperation leads to mutual benefits and win-win outcomes
“China’s juncao,” which transcends mountains and seas, has taken root in over 100 countries, becoming “a gift from China to the world.” “China’s Sky Eye,” which continues to open up to the global scientific community, has helped research teams from 15 countries, including the US, the Netherlands, and Australia, conduct over 900 hours of observations, continually expanding humanity’s limits in observing the sky. Agreements on intergovernmental scientific cooperation have been signed with over 80 Belt and Road Initiative partner countries, promoting the sharing of innovative achievements.
Promoting open cooperation in science and technology is becoming a vivid practice of building a community of shared future for mankind. The world is interconnected, and humanity shares a common destiny.
China has always relied on the hard work and innovative creativity of its people to develop and strengthen itself, achieving national development by combining the stimulation of intrinsic motivation with the peaceful utilization of external resources, firmly grasping the fate of its own development and progress in its own hands.
China has always placed its own development within the coordinate system of human development, jointly addressing global challenges such as climate change, food security, and energy security, actively integrating into the global innovation network while deeply participating in global scientific governance, and working with countries around the world to create an open, fair, just, and non-discriminatory international environment for scientific and technological development.
Innovation determines the future, and reform concerns the fate of the nation. Chinese modernization is full of momentum; the future of China is limitless. Let us unite our hearts and minds while gazing at the stars, and strive tenaciously while staying grounded, as we move toward our grand goals.
https://www.globaltimes.cn/page/202502/1328338.shtml
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SOURCE Global Times
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Great Place To Work names Invisors on the 2026 Best Workplaces for Women List, Ranking no.65
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Invisors named a UK’s Best Workplaces for Women™!
GLASGOW, Scotland, July 24, 2026 /PRNewswire/ — Invisors, a Workday Services Partner has officially been recognized as one of UK’s Best Workplaces for Women 2026™, in 65th place out of the 350 ranked organisations.
Invisors’ values and culture are among the reasons women at our organisation say it is a great place to work. Discover how the team brings this philosophy to life at invisors.com/company-overview.
The 2026 UK’s Best Workplaces for Women list is made up of employers whose people have told Great Place To Work® UK they work for a place that is inclusive and equitable for all. The 350 companies on the list are committed to ensuring a reasonable balance of women and men across the organisation; removing barriers to women’s career advancement; and creating workplaces where all employees, regardless of gender, can flourish.
“I’m incredibly proud to see Invisors recognized as a Top Place for Women to Work. This award reflects the culture we’ve built together—one that values inclusivity, flexibility and empowerment. It’s a place where people are supported to bring their whole selves to work, grow their careers and strive for excellence every day.” Jennifer Donnelly-Corbett, EMEA Manager, HCM and Absence at Invisors.
Benedict Gautrey, Managing Director of Great Place To Work UK says:
“This year’s UK’s Best Workplaces for Women list celebrates businesses making a genuine difference day to day, not just in what they say, but in how people experience work. What matters most is that this recognition comes directly from women working in these organisations, who tell us they feel supported, valued, and able to grow.
Our research demonstrates that these organisations creating high-trust environments deliver stronger results, whether in financial outcomes, impact, or service delivery, alongside greater agility and resilience in the face of change.
Congratulations to Invisors for creating an environment where inclusion is clearly felt in practice.”
Matt Smith, Managing Director, Global HR Operations, Invisors “Being named as one of the UK’s Best Workplaces for Women list is an achievement because it reflects what our people actually experience, not just what we aspire to. We’ve worked to build an environment where career growth and success aren’t something women have to fight for — it’s built into how we operate. This recognition is a great step in the journey, not the finish line, and we’re committed to keeping that bar high as Invisors grows within the UK.”
About Invisors
As a certified Workday Services Partner, Invisors helps clients leverage their organisational data to make better-informed business decisions through the deployment of Workday. Invisors’ success is measured by their clients’ ability to achieve their big-picture vision. From initial deployments to ongoing projects, Invisors is dedicated to elevating perspectives and transforming results. To learn more, visit invisors.com.
About Great Place To Work®
Great Place To Work® is the global authority on workplace culture, helping organisations to create exceptional, high-performing workplaces where employees feel trusted and valued. The UK’s Best Workplaces for Women™ enables these outstanding organisations to celebrate their achievements, build their employer brand, and inspire others to take action. For more information, visit www.greatplacetowork.co.uk.
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Auction Direct USA in Raleigh, NC, Makes It Easy to Shop for Used Vehicles Online
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RALEIGH, N.C., July 24, 2026 /PRNewswire/ — Auction Direct USA in Raleigh, NC, helps shoppers browse used-vehicle inventory, compare options, and complete key steps of the buying process online for a faster, more convenient shopping experience.
Auction Direct USA in Raleigh, NC, is simplifying the used vehicle shopping experience by offering convenient online tools that help drivers browse inventory, compare options, and begin the purchasing process from the comfort of home.
With a user-friendly website, shoppers can explore an extensive selection of used cars, trucks, and SUVs that fit a variety of budgets and lifestyles. Detailed vehicle listings provide important information, including photos, key features, specifications, pricing, and availability, allowing customers to make informed decisions before visiting the dealership.
The online platform also makes it easy to narrow vehicle choices using search filters for make, model, body style, price range, mileage, model year, and other preferences. These features help shoppers quickly find vehicles that meet their individual needs while saving valuable time.
In addition to browsing inventory, customers can use several digital shopping tools to streamline the buying process. Visitors can estimate monthly payments, value a trade-in, complete a finance application, and schedule a test drive online. These resources allow shoppers to prepare for their dealership visit with greater confidence and convenience.
Auction Direct USA in Raleigh, NC, regularly updates its online inventory, giving customers access to fresh vehicle selections as they become available. Whether someone is searching for a dependable commuter car, a family-friendly SUV, or a capable pickup truck, the website provides an efficient way to explore available options before stepping into the showroom.
The dealership remains committed to delivering a straightforward, customer-focused buying experience by combining a wide range of high-quality used vehicles with digital tools that simplify every stage of the shopping journey.
Drivers looking to begin their search can visit Auction Direct USA in Raleigh, NC, or browse the current inventory online to compare vehicles and take advantage of convenient shopping resources before visiting the dealership in person.
About Auction Direct USA in Raleigh, NC
Auction Direct USA in Raleigh, NC, offers a diverse inventory of quality used cars, trucks, and SUVs to meet a wide range of driving needs and budgets. By combining a customer-focused approach with convenient online shopping tools, the dealership helps make finding and purchasing a used vehicle simple, efficient, and enjoyable.
Media Contact: Tony Kicinski, 844-678-8048, tonyk@auctiondirectusa.com
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SOURCE Auction Direct USA
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FLAGSTAR BANK, N.A. ANNOUNCES $250 MILLION SHARE REPURCHASE PROGRAM
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Board of Directors Authorizes Repurchase of Up to $250 Million of Outstanding Common Stock, Reflecting the Bank’s Strong Capital Position and Commitment to Long-Term Shareholder Value
HICKSVILLE, N.Y., July 24, 2026 /PRNewswire/ — Flagstar Bank, N.A. (NYSE: FLG) (the “Bank”) today announced that its Board of Directors has authorized a common stock repurchase program under which the Bank may repurchase up to $250 million of its outstanding common stock over the next 12-month period.
Commenting on the repurchase program, Joseph M. Otting, Executive Chairman and Chief Executive Officer stated, “We are pleased to announce our stock buyback program, which reflects the meaningful progress we have made in executing our strategic plan, the strength of the balance sheet, and Flagstar’s long-term growth prospects. We have consistently maintained capital levels well above regulatory requirements, and we believe that returning capital to our shareholders through a share repurchase program represents a compelling and disciplined use of our excess capital at this time.
“We remain deeply committed to serving our customers and communities and we are confident that this program — alongside our continued investment in our people, products, systems, and technology — will deliver sustainable, long-term value for our shareholders.”
Repurchases may be conducted through open-market purchases, which may include purchases under a trading plan adopted pursuant to Securities and Exchange Commission Rule 10b5-1, or through privately negotiated transactions. The timing and exact amount of any share repurchases will be subject to a variety of factors, including the availability of stock for repurchases, the Bank’s capital position and financial performance, regulatory considerations, and general market conditions. The share repurchase program does not obligate the Bank to acquire any specific number of shares and may be modified, suspended, or discontinued at any time without prior notice. Any future stock repurchase programs would be subject to the approval of the Board of Directors and other various factors, including the Bank’s liquidity, capital position and financial performance, accounting and regulatory considerations, and general market conditions.
Flagstar Bank, N.A.
Flagstar Bank, N.A. is one of the largest regional banks in the country and is headquartered in Hicksville, New York. At June 30, 2026, the Bank had $87.7 billion of assets, $61.2 billion of loans, deposits of $67.5 billion, and total stockholders’ equity of $8.1 billion. Flagstar Bank, N.A. operates approximately 340 locations across nine states, with strong footholds in the greater New York/New Jersey metropolitan region and in the upper Midwest, along with a significant presence in fast-growing markets in Florida and the West Coast.
Cautionary Statements Regarding Forward-Looking Language
This press release may include forward‐looking statements by us and our authorized officers pertaining to such matters as our goals, beliefs, intentions, and expectations regarding, among other things: (a) revenues, earnings, loan production, asset quality, liquidity position, capital levels, risk analysis, divestitures, acquisitions, and other material transactions, among other matters; (b) the future costs and benefits of the actions we may take; (c) our assessments of credit risk and probable losses on loans and associated allowances and reserves; (d) our assessments of interest rate and other market risks; (e) our ability to achieve profitability goals within projected timeframes and to execute on our strategic plan, including the sufficiency of our internal resources, procedures and systems; (f) our ability to execute our capital management strategies, including our ability to complete our current stock repurchase program and to implement future stock repurchase programs; (g) our ability to attract, incentivize, and retain key personnel and the roles of key personnel; (h) our ability to achieve our financial and other strategic goals, including those related to our recent holding company reorganization, which was completed in October 2025 (the “Reorganization”), our merger with Flagstar Bancorp, Inc., which was completed in December 2022, our acquisition of substantial portions of the former Signature Bank through an FDIC-assisted transaction, which was completed in March 2023, and our ability to comply with the heightened regulatory standards with respect to governance and risk management programs to which we are subject as a national bank with assets of $50 billion or more; (i) the impact of the $1.05 billion capital raise we completed in March 2024; (j) the conversion or exchange of shares of our preferred stock; (k) the payment of dividends on shares of our capital stock, including adjustments to the amount of dividends payable on shares of our preferred stock; (l) the dilution of existing equity holders associated with future equity awards and stock issuances; (m) the effects of the reverse stock split we effected in July 2024; and (n) the impact of the 2024 sale of our mortgage servicing operations, third party mortgage loan origination business, and mortgage warehouse business.
Forward‐looking statements are typically identified by such words as “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “should,” “confident,” and other similar words and expressions, and are subject to numerous assumptions, risks, and uncertainties, which change over time. Additionally, forward‐looking statements speak only as of the date they are made; we do not assume any duty, and do not undertake, to update our forward‐looking statements. Furthermore, because forward‐looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those anticipated in our statements, and our future performance could differ materially from our historical results.
Our forward‐looking statements are subject to, among others, the following principal risks and uncertainties: general economic conditions and trends, either nationally or locally; conditions in the securities, credit and financial markets; changes in interest rates; changes in deposit flows, and in the demand for deposit, loan, and investment products and other financial services; changes in real estate values; changes in the quality or composition of our loan or investment portfolios, including associated allowances and reserves; changes in future allowance for credit losses, including changes required under relevant accounting and regulatory requirements; the ability to pay future dividends; the ability to implement future stock repurchase programs, which are subject to the approval of the Board of Directors and other various factors, including the Bank’s liquidity, capital position, and financial performance, accounting and regulatory considerations, as well as general market conditions; changes in our capital management and balance sheet strategies and our ability to successfully implement such strategies; our ability to achieve the anticipated benefits of the Reorganization; changes in our Board of Directors and our executive management team; changes in our strategic plan, including changes in our internal resources, procedures and systems, and our ability to successfully implement such plan; changes in competitive pressures among financial institutions or from non‐financial institutions; changes in legislation, regulations, and policies; changes relating to rent regulation and housing, including recent legislative action in New York City to freeze rents on certain rent-regulated properties; the impacts of tariffs, sanctions and other trade policies of the United States and its global trading counterparts; the outcome of federal, state, and local elections and the resulting economic and other impact on the areas in which we conduct business; the impact of changing political conditions or federal government shutdowns; the imposition of restrictions on our operations by bank regulators; the outcome of pending or threatened litigation, or of investigations or any other matters before regulatory agencies, whether currently existing or commencing in the future; our ability to comply with heightened regulatory standards with respect to governance and risk management programs to which we are subject as a national bank with assets of $50 billion or more; the restructuring of our mortgage business; our ability to achieve anticipated cost savings and enhanced efficiencies with respect to our balance sheet and expense reduction strategies; the impact of failures or disruptions in or breaches of our operational or security systems, data or infrastructure, or those of third parties, including as a result of cyberattacks or campaigns; the impact of natural disasters, extreme weather events, civil unrest, international military conflict, terrorism or other geopolitical events; and a variety of other matters which, by their nature, are subject to significant uncertainties and/or are beyond our control. Our forward-looking statements are also subject to the following principal risks and uncertainties with respect to our merger with Flagstar Bancorp, which was completed in December 2022, and our acquisition of substantial portions of the former Signature Bank through an FDIC-assisted transaction, which was completed in March 2023: the possibility that the anticipated benefits of the transactions will not be realized when expected or at all; the possibility of increased legal and compliance costs, including with respect to any litigation or regulatory actions related to the business practices of acquired companies or the combined business; diversion of management’s attention from ongoing business operations and opportunities; the possibility that we may be unable to achieve expected synergies and operating efficiencies in or as a result of the transactions within the expected timeframes or at all; and revenues following the transactions may be lower than expected.
More information regarding some of these factors is provided in the Risk Factors section of our Annual Report on Form 10‐K for the year ended December 31, 2025, and in other reports we file with the Office of the Comptroller of the Currency (the “OCC”) and voluntarily file with the Securities and Exchange Commission (the “SEC”), and which are also available on our Investor Relations website. Our forward‐looking statements may also be subject to other risks and uncertainties, including those we may discuss in this news release, on our conference call, during investor presentations, or in our securities disclosure filings. All such files are accessible on our website at ir.flagstar.com, on the OCC’s website at www.occ.gov, and on the SEC’s website at www.sec.gov.
Investor Contact:
Salvatore J. DiMartino
(516) 683-4286
Media Contact:
Jessica Torchia
(248) 312-6451
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SOURCE Flagstar Bank, N.A.
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