NYCB completes FDIC-assisted acquisition of Signature Bridge Bank assets; net assets acquired $2.1B

FLAGSTAR BANK, NATIONAL ASSOCIATION

Acquired assets with estimated total fair value of $37.8B, including $24.9B cash and $11.7B loans, net of ACL.
Assumed liabilities of $35.7B, primarily $33.5B in deposits; assets acquired at discount of ~$2.7B.
Core deposit intangible and other intangibles recognized of $464M.
FDIC exercised equity appreciation rights; NYCB issued 39,032,006 shares; FDIC sold shares in secondary offering May 19, 2023.

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