81 New York Community Bancorp announced on Thursday that it has acquired assets from the failed Signature Bank, with an estimated total fair value of $37.8 billion. This acquisition was executed through its subsidiary, Flagstar Bank, which had taken over the majority of Signature Bank’s deposits and certain loan portfolios from the Federal Deposit Insurance Corporation (FDIC) in March 2023. The fair value of the acquired assets primarily comprises $24.9 billion in cash and cash equivalents and $11.7 billion in loans and leases. NYCB also assumed liabilities with an estimated fair value of $35.7 billion, including $33.5 billion in customer deposits. This strategic move significantly enhances NYCB’s asset base and positions Flagstar Bank to better serve its expanded customer base with increased financial stability and resources. You Might Be Interested In Gulfstream G700 Earns EASA Certification, Expands Global Reach S&P Global Issues Warning to the Reserve Bank Blackstone Sets Sights on $25 Billion Expansion in Indian Private Equity Assets AutoZone Successfully Implements Leadership Transition Plan AIG to Sell 20% Stake in Corebridge to Japan’s Nippon Life for $3.8 Billion South African President Extends Central Bank Governor’s Term, Appoints New Deputy
