New York Community Bancorp Shares to Be Sold by the FDIC (1)

The Federal Deposit Insurance Corp. will sell New York Community Bancorp Inc. shares it acquired as part of the lender’s purchase of Signature Bank from the regulator in March.

The FDIC will sell about 39 million shares of NYCB in an underwritten public offering, the lender said in a statement Tuesday. The company isn’t selling any shares, with all the proceeds from the offering going to the FDIC, NYCB said. The FDIC plans to sell its shares of the bank no later than June 8.

Signage outside a Signature Bank branch in New York on March 13.

Photographer: Stephanie Keith/Bloomberg

NYCB’s Flagstar Bank of Hicksville, New York, agreed to purchase $38 billion of Signature ...