Springfield, MO

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Flagstar Bank to take over most of Signature's deposits

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Flagstar Bank, a subsidiary of New York Community Bancorp Inc., agreed to assume most of the deposits of Signature Bank, which recently was closed by regulators.

Flagstar is taking over Signature’s 40 former branches, according to the Federal Deposit Insurance Corp.

FDIC officials estimate the cost of the failure of Signature Bank to its Deposit Insurance Fund will total $2.5 billion.

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