News

A unit of New York Community Bancorp has agreed to buy “substantially all” deposits and some loan portfolios of the collapsed Signature Bank, the US federal deposit agency announced on Sunday.

From Monday, Flagstar Bank will acquire 40 former Signature branches, which will be rebranded under its name, the Federal Deposit Insurance Corporation said.

The transaction included the purchase of about $38.4bn of Signature assets, including loans of $12.9bn purchased at a discount of $2.7bn, FDIC said.

The acquisitions by Troy, Michigan-based Flagstar did not include $4bn in Signature’s digital deposits.

Articles You May Like

Ways to Help You Enforce Trading Discipline
How to Trade Stocks with NO FEAR! #stocktrading #optiontrading #smallaccount
Dark Cloud Pattern for Beginners
Everything you need to know about Cash ISAs
Stock Trading – Intrinsic Value – Stock Options