New York Community Bank , to Buy Portion of Signature Bank.<br />NPR reports that the agreement <br />was revealed on March 19.<br />New York Community Bank will by a large chunk of Signature Bank for $2.7 billion.<br />Beginning March 20, 40 Signature Bank branches turn into Flagstar Bank, <br />a subsidiary of New York Community Bank.<br />Beginning March 20, 40 Signature Bank branches turn into Flagstar Bank, <br />a subsidiary of New York Community Bank.<br />The deal includes $38.4 billion in assets.<br />The deal includes $38.4 billion in assets.<br />According to the FDIC, $60 billion <br />of the failed bank's loans will stay in receivership and be sold off over time.<br />Signature Bank failed two days <br />after Silicon Valley Bank collapsed.<br />Signature Bank failed two days <br />after Silicon Valley Bank collapsed.<br />Nervous depositors withdrew billions, causing Signature Bank to meet the same fate.<br />NPR reports that the FDIC estimates Signature Bank's demise will <br />"cost the deposit insurance fund $2.5 billion." .<br />NPR reports that the FDIC estimates Signature Bank's demise will <br />"cost the deposit insurance fund $2.5 billion." .<br />That figure could vary once <br />assets are sold off by the regulator
