The FDIC created Signature Bridge Bank to take over Signature Bank's operations.
Signature Bridge Bank is a new bridge bank that will provide basic banking services to Signature Bank's customers.
The FDIC took over Signature Bank on March 12, 2023, and created Signature Bridge Bank as a result.
This new bank will allow customers to access their accounts and conduct basic banking transactions.
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Frequently Asked Questions
Who bought out Signature Bank?
New York Community Bancorp (NYCB) acquired Signature Bank's assets with a total fair value of $37.8 billion.
Is Signature Bank a real bank?
Yes, Signature Bank was a legitimate American commercial bank with a presence in several states. It was headquartered in New York City and had multiple private client offices across the country.
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