WASHINGTON, March 19 (Reuters) - A subsidiary of New
York Community Bancorp has entered into an agreement
with U.S. regulators to purchase deposits and loans from New
York-based Signature Bank , which was closed earlier
this month.
The Federal Deposit Insurance Corporation said the deal
would see Flagstar Bank, the subsidiary, assume substantially
all deposits and certain loan portfolios, and all 40 of
Signature Bank's former branches. The FDIC said roughly $60
billion of the bank's loans and $4 billion of its deposits will
remain in receivership.
(Reporting by Pete Schroeder; Editing by Christopher Cushing)
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