Flagstar Bank will assume nearly all deposits and certain loan portfolios of Signature Bridge Bank. It will also operate dozens of former Signature Bank branches.
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Flagstar Bank to take over most of Signature Bank's deposits, FDIC saysFlagstar 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.
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Signature Bank Deposits to Be Assumed by New York Community Bank Unit: FDICFormer Signature Bank deposits other than those related to the digital banking business will be assumed by a unit of New York Community Bancorp as of Monday, the FDIC said. GregAhl reports
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U.S. FDIC weighs holding Signature Bank, SVB's underwater assets -Bloomberg NewsU.S. regulators are considering retaining securities owned by Signature Bank and Silicon Valley Bank which sank in value due to rising interest rates, Bloomberg News reported on Friday.
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The SVB and Signature Bank Crashes Show Why We Need Public BankingWe have a pivotal opportunity to reshape our financial system for the benefit of all.
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Signature Bank’s Quirky Mix of Customers Fueled Its Rise and Hastened Its FallThe New York bank juiced its growth by combining a traditional commercial real-estate business with divisions catering to customers too small or complicated for its crosstown Wall Street rivals.
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