Banks Face Extra $4.1 Billion FDIC Bill for Last Year's Failures [BNN Bloomberg (Canada)]
Signature Bank (SBNY)
Last signature bank earnings: 4/23 05:00 am
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US:NASDAQ Investor Relations:
investor.signatureny.com/investor-relations
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Source: BNN Bloomberg
The Federal Deposit Insurance Corp. now estimates $20.4 billion in losses arising from the failure of both SVB and New York-based Signature Bank, according to its annual report released late February. That's a 25% bump from its $16.3 billion November estimate. The upshot: Scores of institutions — megabanks like JPMorgan Chase & Co., regional lenders like PNC Financial Services Group and even some relatively local-leaning banks — may have to pay more to replenish the Deposit Insurance Fund. That's the reserve that the FDIC uses to protect depositors when a bank collapses. PNC, based in Pittsburgh, said on Tuesday that it expects to add $130 million in expenses this quarter on top of the $515 million it already booked in the fourth quarter. BNY Mellon said it adjusted its 2023 financial results to reflect an extra $127 million pretax expense after originally giving a $505 million estimate. Fifth Third Bancorp. and Comerica Inc. both said that they expect to pay more, too. Quarter
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News
- Signature Bank (NASDAQ: SBNY) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- NYCB CEO predicts a 'clear path to profitability' after disclosing first-quarter loss [Yahoo! Finance Canada]Yahoo! Finance Canada
- NYCB delays annual shareholders meeting by two weeks [Yahoo! Finance]Yahoo! Finance
- Signature Bank (NASDAQ: SBNY) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- NYCB Investors Await New CEO's Vision as Credit Questions Linger [Yahoo! Finance]Yahoo! Finance
SBNY
Sec Filings
- 3/15/24 - Form SC
- 2/14/24 - Form SC
- 2/12/24 - Form SC
- SBNY's page on the SEC website