Signature Bank

On March 20, 2023, Flagstar Bank, N.A (Flagstar), the wholly owned subsidiary of New York Community Bancorp Inc. (NYCB), Hicksville, New York, acquired $12.9 billion of Signature Banks loans and assumed $38.4 billion in deposits. Flagstar also acquired all 40 of Signatures branches, which are now operated under the Flagstar name. This announcement is a significant advantage to our clients and their business, as it highlights a partnership of like-minded, client-forward institutions. This transaction provides significant diversification and strength needed in todays banking system while further advancing NYCB and Flagstars strategic plan to transition to a commercial bank model. It also unites the key assets of two banks with complementary strategies to create a commercial bank powerhouse. With this transaction, Flagstar will be one of the larger commercial banks in the country, with a fortress-like balance sheet, strong liquidity, and excellent asset quality metrics. The regulat...