NYCB Discloses Signature Bank's Total Fair Value Was $37.8 Billion

Flagstar Bank also assumed liabilities with an estimated fair value of $35.7 billion, including $33.5 billion in customer deposits, according to the filing. Earlier, Signature Bank sought to distance itself from the digital asset sector after the downfall of cryptocurrency platform FTX, which was one of the bank's clients. The FDIC said that was the "root cause" of the bank's failure. NYCB's wholly-owned subsidiary, Flagstar Bank, acquired assets with an estimated total fair value of $37.8 billion as of the ...