Category: Flagstar Bank

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Flagstar Bank Acquires Signature Bank’s Assets and Branches, Excluding Cryptocurrency Operations

March 20, 2023

On Monday, about a week after the collapse of Signature Bank, the Federal Deposit Insurance Corporation (FDIC) announced that Flagstar Bank, a wholly owned subsidiary of New York Community Bancorp, acquired 40 former branches of Signature and its assets. Flagstar assumed nearly all of Signature’s deposits, except for $4 billion of deposits related to the…
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FDIC sells Signature Bank deposits to Flagstar, crypto not included

March 20, 2023

The 40 branches of Signature Bank will officially reopen and operate as Flagstar Bank on March 20. Only a week after its collapse, Signature Bank’s deposits and loans are set to be sold to Flagstar Bank, a subsidiary of New York Community Bancorp — but crypto-related deposits will not be part of the deal. The…
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