Traffic jam:   4

New York Community Bancorp's Strategic Move: Becoming the 3rd Largest Bank Failure in US History

20 March 2023
1 min.
New York Community Bancorp's Strategic Move: Becoming the 3rd Largest Bank Failure in US History

Exploring the valuable assets held by Signature Bank in the US

The recent collapse of Signature Bank (SB) has resulted in its acquisition by New York Community Bancorp (NYCB), making it the 3rd largest bank failure in US history with assets valued at $110 billion. As a result, the FDIC will acquire a significant portion of Signature Bank's deposits and loan portfolios.

The good news is that depositors will not be affected, as NYCB will continue to offer uninterrupted services through former SB branches under the Flagstar Bank (FB) name. This move is a significant milestone for NYCB, which has now become the 24th largest regional bank in the US after acquiring Flagstar Bank in 2022.

Despite concerns about the stability of the US banking system, the federal government has intervened to pay back depositors and broker sales to functional banks. The FDIC's Deposit Insurance Fund is expected to incur a cost of around $2.5 billion due to Signature Bank's failure.

The acquisition presents an opportunity for NYCB to expand its operations and customer base. While the collapse of SB and SVB has raised concerns about the stability of the US banking system, the government's intervention has helped to mitigate the fallout from these failures.

Overall, the takeover of SB by NYCB is a significant event in the US banking industry. However, it remains to be seen how this development will impact the banking landscape in the years to come.



Rating companies
14 Mention
14 Mention
Walt Disney Company
12 Mention
11 Mention
JP Morgan Chase
10 Mention
10 Mention
Ford Motor Company
10 Mention


News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Died this year
Born this year