New York Community Bancorp (NYCB.US) announced on Thursday that it has acquired the assets of bankrupt Signature Bank (SBNY.US) with a fair value estimate of $37.8 billion.
According to the app of CHOICE FINANCIAL, New York Community Bancorp (NYCB.US) announced on Thursday that it has acquired the assets of bankrupt Signature Bank (SBNY.US) with a fair value estimate of $37.8 billion.
In March 2023, Flagstar Bank, a subsidiary of New York Community Bancorp, took over almost all deposits and part of the loan portfolio of Signature Bank from the Federal Deposit Insurance Corporation (FDIC).
The regional bank added that the fair value estimate includes mainly $24.9 billion in cash and cash equivalents, as well as $11.7 billion in loans and leases.
New York Community Bancorp said it also assumed liabilities with an estimated fair value of $35.7 billion, primarily including $33.5 billion in customer deposits.