New York Community Bankcorp acquires Signature Bank in $2.7B deal.

New York Community Bancorp's Flagstar Bank unit has acquired certain assets and assumed certain liabilities of Signature Bridge Bank from the Federal Deposit Insurance Corporation. The purchase includes approximately $38 billion of assets, including $25 billion of cash and roughly $13 billion in loans. The deal is expected to significantly strengthen New York Community Bancorp's deposit base, lower the loan-to-deposit ratio, and further diversify its loan portfolio away from commercial real estate loans. The stock has gained almost 40% since the announcement.