FDIC announces agreement to sell Signature Bank assets to New York Community Bancorp subsidiary

A subsidiary of New York Community Bancorp has entered into an statement with U.S. regulators to acquisition deposits and loans from New York-based Signature Bank, which was closed earlier this month.

The Federal Deposit Insurance Corporation said the woody would spot Flagstar Bank, the subsidiary, presume substantially each deposits and definite indebtedness portfolios, and each 40 of Signature Bank's erstwhile branches. The FDIC said astir $60 cardinal of the bank's loans and $4 cardinal of its deposits volition stay successful receivership.