New York Community Bank agrees to buy failed Signature Bank in $2.7B deal

New York Community Bank will buy a major portion of Signature Bank, a large lender for tristate businesses, in a $2.7 billion deal after the latter failed a week ago.

The Federal Deposit Insurance Corp. on Sunday announced the deal in which New York Community Bank agreed to purchase $38.4 billion Signature Bank’s assets — about a third of its total $110 billion in assets when it failed last week. ---More...