: Flagstar Bank to take over most of Signature Bank’s deposits, FDIC says

by | Mar 19, 2023 | Stock Market

Flagstar Bank, a subsidiary of New York Community Bankcorp Inc., on Sunday agreed to assume most of Signature Bank’s deposits and some of its loans. New York-based Signature Bank was closed by regulators last week, following the failures of Silicon Valley Bank and Silvergate Bank. In a statement Sunday, the Federal Deposit Insurance Corp. said Flagstar will take over Signature’s 40 former branches effective Monday, and they will operate as nor …

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