NYCB's FDIC Deal Leaves Signature Bank with Toxic Loans

New York Community Bancorp has acquired $38.4 billion worth of assets, including $13 billion in loans, from the now-defunct Signature Bank, in one of the largest financial transactions in history. The deal will increase tangible book value per share by 15% and earnings per share by around 20%, while also adding branches throughout New York, California, Connecticut, North Carolina, and Nevada. The acquisition will add new verticals to the company's commercial lending platform and remove any doubt as to the health of New York Community Bancorp.