Purchase of failing Signature Bank by New York Community Bank

Purchase of failing Signature Bank by New York Community Bank.

Depositors were concerned about the stability of Signature Bank after Silicon Valley Bank failed because of the bank’s high proportion of uninsured deposits.

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Over 40 Signature Bank locations will become Flagstar Bank.

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48 hours after Silicon Valley Bank failed, Signature Bank became the second bank in this banking crisis to fall.

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