New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7bn deal, the Federal Deposit Insurance Corp says.The 40 branches of Signature Bank will become Flagstar Bank, starting Monday, the FDIC said in a late Sunday announcement. Flagstar is one of New York Community Bank’s subsidiaries. The deal will include the purchase of $38.4bn in Signature Bank’s assets, a little more than a third of Signature’s total when the bank failed a week ago.The FDIC said $60bn in Signature Bank’s loans will remain in receivership and are expected to be sold off in time.
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