Meaning "name and editorial information on a newspaper" is by 1956. U.S. Flag Day (1894) is in reference to the adopting of the Stars and Stripes by the Continental Congress on June 14, 1777.
"flat stone for paving," c. 1600, ultimately from Old Norse flaga "stone slab," from Proto-Germanic *flago- (from extended form of PIE root *plak- (1) "to be flat"). Earlier in English as "piece cut from turf or sod" (mid-15c.), from Old Norse flag "spot where a piece of turf has been cut out," from flaga.