New York Community Bank To Buy Failed Signature Bank 

The Federal Deposit Insurance Corp says New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7bn deal. <br />The FDIC says the 40 branches of Signature Bank will become Flagstar Bank, starting Monday. Flagstar is one of New York Community Bank’s subsidiaries. <br />The FDIC said $60bn in Signature Bank’s loans will remain in receivership and are expected to be sold off in time. <br />The FDIC says it expects Signature Bank’s failure to cost the deposit insurance fund $2.5bn, but that figure may change as the regulator sells off assets.