Flagstar Bank

On March 20th, the Federal Deposit Insurance Corporation (FDIC) of the United States announced today that the deposits and loans of Signature Bank will be sold to Flagstar Bank, a subsidiary of New York Community Bancorp. However, this acquisition transaction does not include Signature Bank’s digital asset business with a total deposit of approximately $4 billion. Interpretation of this information: The Federal Deposit Insurance Corporation (FDIC) has recently announced the sale of deposits and loans of Signature Bank to Flagstar Bank- a subsidiary of New York Community Bancorp, effective March…