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Business > Foreign Business
NY Community Bank to buy Signature Bank
By Agence France-Presse
Mar 21, 2023 12:06 am

SAN FRANCISCO: The US banking regulator has struck a deal to sell most of the assets of the failed Signature Bank to another institution, the agency said on Sunday.

Signature Bank was seized by the Federal Deposit Insurance Corp. (FDIC) a week ago after it imploded in the wake of the collapse of Silicon Valley Bank (SVB) earlier in March, a failure that has sent convulsions through the global banking sector.

SOLD A woman leaves a branch of Signature Bank in New York on March 13, 2023. New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said late Sunday, March 19, 2023. AP PHOTO

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