FDIC Invokes NYCB Equity Rights to Gain on Signature Takeover

The Federal Deposit Insurance Corp. says it’s using its right to notch a gain on the price of New York Community Bancorp Inc.’s shares as part of the deal it engineered to resolve the failure of Signature Bank.

“We did exercise our option to acquire shares of NYCB and intend to sell these shares at a future date to maximize recoveries,” the FDIC said in an emailed statement.

The regulator stands to make as much as $300 million in equity appreciation rights that went deep into the money when NYCB’s stock surged after the deal for Signature was ...