Signature Bank (SBNY): Business Model Canvas [Dec-2025 Updated]

You're looking at the Business Model Canvas for Signature Bank (SBNY) in late 2025, and honestly, it looks nothing like a bank's blueprint; it's a liquidation roadmap. After the failure, the model shifts entirely to asset disposition, where the Federal Deposit Insurance Corporation (FDIC) is the main player, tasked with orderly winding down the approximately $60 billion in retained loan portfolios. This isn't about growth anymore; it's about minimizing the estimated $2.5 billion hit to the Deposit Insurance Fund and finding the final pennies for residual shareholders of Signature Bancorp, Inc. (OTCPK: SBNY). It's a fascinating, albeit somber, case study in financial resolution. Dig into the details below to see exactly how the key activities and revenue streams are structured for maximum recovery.

Signature Bank (SBNY) - Canvas Business Model: Key Partnerships

You're looking at the essential external relationships Signature Bank (SBNY) had in place as of late 2025, primarily defined by its receivership following the March 12, 2023, closure. These partnerships are critical for asset disposition and winding down obligations.

Federal Deposit Insurance Corporation (FDIC) acts as the receiver

The Federal Deposit Insurance Corporation (FDIC) was appointed Receiver for Signature Bank (SBNY) on March 12, 2023, after the New York State Department of Financial Services closed the bank. The FDIC established Signature Bridge Bank N.A. to manage operations while marketing assets. As of the August 1, 2025, Receivership Balance Sheet Summary, the FDIC continues to administer the remaining assets and liabilities. The initial estimated cost of the Signature Bank failure to the Deposit Insurance Fund (DIF) was pegged at $2.5 billion.

The FDIC's role involves maximizing recoveries, which is reflected in ongoing asset sales and litigation management:

• The FDIC, as Receiver, obtained a victory in a shareholder class action on March 21, 2025, in the Eastern District of New York, asserting ownership of the plaintiff's claims under FIRREA.
• The receivership balance sheet summary is updated periodically, with the latest available report dated August 1, 2025.

New York Community Bancorp (NYCB) / Flagstar Bank, the asset acquirer

Flagstar Bank, a subsidiary of New York Community Bancorp (NYCB), acquired substantially all the non-crypto related assets and deposits from the FDIC on March 20, 2023. This was a massive transaction that immediately altered the structure of the remaining liabilities and assets under receivership.

Acquired Component	Amount (Fair Value)	Notes
Total Assets Acquired	$37.8 billion	Fair value estimate as of June 2024.
Cash and Cash Equivalents	$24.9 billion	Included in the asset purchase.
Loans and Leases Acquired	$11.7 billion	Net of initial allowance for credit losses (ACL).
Total Liabilities Assumed	$35.7 billion	Primarily customer deposits.
Customer Deposits Assumed	$33.5 billion	Non-crypto related deposits.
Asset Discount to Carrying Value	Approx. $2.7 billion	The discount on the assets purchased.

The deal was structured to be significantly accretive to NYCB's earnings per share by approximately +20% and tangible book value by +15% on a pro-forma basis.

Third-party loan servicers managing the $60 billion in retained loans

Approximately $60 billion in loans, specifically those pertaining to Signature Bank's digital banking business, remained in receivership under the FDIC following the NYCB/Flagstar deal. The FDIC has since engaged third parties to manage and liquidate these retained assets through structured transactions.

• Blackstone, Inc. controlled entity (Hancock JV Bidco L.L.C.): Acquired a 20 percent equity interest in a venture holding $16.8 billion in Commercial Real Estate (CRE) loans for $1.2 billion. Hancock is responsible for management, servicing, and liquidation of these assets.
• Santander Bank, N.A. controlled entity (SBNA Investor LLC): Paid $1.1 billion for a 20 percent equity interest in a venture holding approximately $9.0 billion of rent-stabilized/controlled multifamily loans. The FDIC-Receiver retained an 80 percent equity interest.
• Newmark Group: Was tapped as a financial advisor to help the FDIC offload the retained loan portfolio, including a portfolio sale of $18.5 billion in subscription credit facilities to private equity firms.

Legal and financial advisory firms for asset disposition and claims

Various firms have been engaged by the FDIC as Receiver or by other parties involved in the resolution, indicating active legal and advisory support for the wind-down process as of 2025.

• Wollmuth Maher & Deutsch LLP (WMD): Obtained dismissal of a shareholder class action on behalf of the FDIC as Receiver on March 21, 2025.
• Patterson Belknap Webb & Tyler LLP and Reed Smith LLP: Represented parties in litigation concerning the FDIC disposal of Signature Bank loan assets as of August 13, 2025.
• Hunton Andrews Kurth LLP: Assembled a cross-disciplinary team to assist clients regarding the Signature Bank closing and receivership.

Federal Reserve and US Treasury for systemic risk management

The Federal Reserve and the US Treasury, in consultation with the President and upon FDIC recommendation, invoked the statutory systemic risk exception on March 12, 2023. This action guaranteed all Signature Bank depositors, a move intended to strengthen public confidence. The FDIC received 'equity appreciation rights' in NYCB common stock, potentially valued up to $300 million, as part of the resolution structure. The initial determination was made because the failure of Signature Bank (the 29th largest U.S. bank at failure) posed a threat to financial stability.

Signature Bank (SBNY) - Canvas Business Model: Key Activities

You're looking at the core actions the FDIC receiver must execute to wind down Signature Bank (SBNY) as of late 2025. This isn't about banking anymore; it's about asset liquidation and claim resolution.

Managing and disposing of the approximately $60 billion in retained loan portfolios is a massive undertaking. This involves selling off large chunks of the loan book to maximize returns for the estate. The FDIC completed the final part of a three-pronged asset sale involving a $33 billion commercial real estate (CRE) portfolio that was retained in receivership.

Here's a snapshot of some of the loan disposition activity reported from earlier stages of the process, which informs the current activity:

Asset Pool Description	Notional Value	Transaction Detail
Subscription Credit Facilities (PE Firms)	$18.5 billion	Sale launched July 25, 2023, involving firms like Blackstone Inc.
Office, Retail, and Market-Rate Multifamily Loans (20% Stake Sold)	$16.8 billion	20% equity interest sold for $1.2 billion to a Blackstone-controlled entity.
Rent-Stabilized or Rent-Controlled Properties Loans (20% Stake Sold)	$9 billion	20% stake interest sold to Santander Bank for $1.1 billion.

The overall plan involved offloading the $60 billion in loans retained in receivership. Honestly, the speed of these sales directly impacts the estate's cash flow.

Resolving creditor claims and managing the receivership estate is the central administrative function. The FDIC issues the Receivership Balance Sheet Summary, with the latest one you should check being dated August 1, 2025. This report details known assets and estimated liabilities. To give you a sense of the scale involved in the related Signature Bridge Bank receivership as of September 30, 2024, the net worth stood at a positive $445 million, calculated from $60.8 billion in assets in liquidation against $60.36 billion in liabilities.

The hierarchy of payment dictates the activity here. You need to know the priority:

• Administrative expenses
• Deposit liability
• General or senior liability of the institution
• Obligations subordinated to depositors or general creditors
• Obligations to shareholders

Distributing the approximately $4 billion in digital asset deposits not sold is a specific task within the broader claims resolution. This figure represents the portion of digital asset-related deposits that were not transferred to the successor bank. The activity here is ensuring these funds are accounted for and distributed according to the statutory priority once claims are proven.

For maximizing recovery value for the residual SBNY holding company shareholders, the key fact is subordination. The Signature Bank Receivership is the lone shareholder of the Signature Bridge Bank Receivership, meaning this interest is subordinate to all proven claims against the Bridge Bank Receivership. Any distribution to these residual shareholders only occurs if there are sufficient proceeds after all higher-priority claims are paid in full.

Finally, sub-servicing legacy multi-family and commercial real estate (CRE) loans is an ongoing operational necessity tied to the asset disposition. This activity supports the loans that haven't been sold yet, ensuring payments continue to be made and the collateral value is maintained until a buyer is found. The initial retained portfolio included a significant CRE component, specifically the $33 billion portfolio mentioned earlier.

Finance: draft 13-week cash view by Friday.

Signature Bank (SBNY) - Canvas Business Model: Key Resources

You're looking at the remnants of a bank, so the Key Resources aren't about growth engines anymore; they're about what's left to liquidate. Honestly, this is about the FDIC's ongoing wind-down process, not a functioning business.

The primary asset base remaining in the receivership is tied up in loans that weren't part of the initial Flagstar Bank purchase. As of the initial disposition, approximately $60 billion in loans were retained in the receivership for later disposition by the Federal Deposit Insurance Corporation (FDIC).

For the residual cash and investment balances held by the receivership itself, we can look at the latest public filing. Here's the quick math from the Signature Bank Receivership balance sheet summary for the period ending June 30, 2025 (amounts in $000's):

Asset Category	Balance (in $000's)	Balance (USD)
Cash and Investments	76,217	$76.217 million
Due from FDIC Corp and Receivables	112,916	$112.916 million
Total Assets	189,133	$189.133 million

What this estimate hides is the complexity of the liquidation timeline and the ultimate recovery value, but it gives you a concrete starting point for the receivership's liquid holdings as of mid-2025.

The FDIC's legal and operational authority is the ultimate governing resource here. While the authority itself isn't a dollar amount, the estimated cost of Signature Bank's failure to the Deposit Insurance Fund was pegged at approximately $2.5 billion. Furthermore, as of July 2025, the Government Accountability Office noted that the FDIC continues to refine its capabilities under the Orderly Liquidation Authority (OLA) in response to the 2023 failures.

Regarding the intellectual property and data from the former Signet real-time payments platform, the key figure relates to the assets excluded from the Flagstar deal. This exclusion included approximately $4 billion in deposits related to the digital banking business, which encompassed the Signet platform.

Finally, the residual public shell of Signature Bancorp, Inc. (OTCPK: SBNY) trades on the over-the-counter market. As of the report on April 11, 2025, the key metrics for this shell were:

• Market Capitalization: $72.42 million
• Stock Price: $0.80
• 52-Week High: $2.25
• Reported EPS (Pre-closure): 14.44

Finance: draft the projected liquidation timeline for the remaining $60 billion loan portfolio by next Tuesday.

Signature Bank (SBNY) - Canvas Business Model: Value Propositions

The value propositions for the Signature Bank (SBNY) receivership, managed by the Federal Deposit Insurance Corporation (FDIC), center on the orderly wind-down and maximization of returns from the remaining assets following the closure on March 12, 2023.

Orderly disposition of assets to minimize disruption to the financial system

• The majority of deposits and certain loan portfolios were transferred to Signature Bridge Bank, N.A., which subsequently entered a purchase and assumption agreement with Flagstar Bank, National Association, a subsidiary of New York Community Bancorp, Inc..
• The initial transfer to Flagstar Bank involved an assumed asset discount of $2.70 billion.
• The FDIC-R retained substantially all of Signature Bank's multifamily loans, over 2,800 loans totaling in excess of $20 billion as of July 2023.
• A specific portfolio of 201 capital call line loans, valued at $18.5 billion, was offered for sale in four pools.

Maximizing recovery for the Deposit Insurance Fund (DIF) and creditors

The FDIC's statutory obligation is to maximize the net present value return from asset disposition and minimize losses to the DIF. The initial estimated cost of failure to the DIF was approximately $2.5 billion as of March 19, 2023.

Metric	Amount/Value	Date/Context
Initial Estimated Cost to DIF	$2.5 billion	As of March 19, 2023
Total Estimated Cost (SVB & SBNY)	Around $18.7 billion	As of early 2024
Loss Attributable to Uninsured Depositors (Total)	$18.9 billion	As of September 30, 2024
Total Assets (SBNY Year-End)	$110.4 billion	As of December 31, 2022

Providing a final, structured return to the residual SBNY shareholders

Shareholder interest in the Signature Bank Receivership is subordinate to all proven claims against the Signature Bridge Bank Receivership. A final return is contingent upon sufficient proceeds from asset liquidation to fully pay all proven claims.

• The Signature Bank Receivership is the lone shareholder of the Signature Bridge Bank Receivership.
• The FDIC owns plaintiff's claims pursuant to the succession provision of FIRREA, which dictates the priority scheme for satisfying outstanding obligations.

Maintaining continuity for borrowers on the retained loan book

Borrowers with loans retained by the FDIC-R remain legally obligated to repay according to their original loan agreement terms. The FDIC-R committed to operating the receivership consistent with its statutory obligations.

• Borrowers should continue making payments using the same process as prior to the failure.
• The FDIC-R retained over 2,200 multifamily loans collateralized by rent-stabilized or rent-controlled properties, with an aggregate balance in excess of $15 billion.
• Capital call line loan spreads were generally between 175 and 200 basis points over the benchmark rate.

Transparency for the FDIC's estimated $2.5 billion cost of failure

The initial estimated cost of failure to the DIF was approximately $2.5 billion as of March 19, 2023. The FDIC is statutorily required to recover losses through a special assessment on insured depository institutions (IDIs).

• The special assessment to recover losses from the failures of SBNY and Silicon Valley Bank was finalized, largely based on uninsured deposits reported for the quarter ended December 31, 2022.
• The FDIC's April 2025 waiver of certain resolution plan content requirements, including bridge bank strategy analysis, suggests an ongoing refinement in resolution execution transparency.

Finance: draft the next status update on asset disposition proceeds by next Tuesday.

Signature Bank (SBNY) - Canvas Business Model: Customer Relationships

The relationships for the entity formerly known as Signature Bank (SBNY) are now defined by the receivership process managed by the Federal Deposit Insurance Corporation (FDIC), which was appointed Receiver on March 12, 2023, by the New York State Department of Financial Services (NYSDFS).

Formal, legal relationship with the FDIC as the primary decision-maker

The FDIC acts as the primary decision-maker for the disposition of remaining assets and liabilities. The FDIC's supervision of Signature Bank (SBNY) was the agency's responsibility prior to closure.

• FDIC appointed Receiver on March 12, 2023.
• The receivership reports known assets and estimated liabilities as of the report date.
• The receivership's shareholder interest in the Signature Bridge Bank Receivership is subordinate to all proven claims.

Transactional relationship with buyers of the loan portfolios

The initial transfer involved a purchase and assumption agreement with Flagstar Bank, National Association, a wholly owned subsidiary of New York Community Bancorp, Inc.

Asset Category	Amount Transferred (as of March 20, 2023)	Discount to Carrying Value
Total Assets Transferred	$38.4 billion	$2.7 billion
Loans Purchased	$12.9 billion	N/A

Approximately $60 billion in loans remained in the receivership for later disposition by the FDIC as of March 20, 2023.

Claims management and communication with the former bank's creditors

Claims against the receivership are recorded as liabilities if proven to the satisfaction of the receiver and may receive a distribution as assets are liquidated. The following data reflects the status of claims as of August 1, 2025.

Claimant Type	Claim Balance	Percentage of Claim Unpaid Remaining
Total Unpaid Deposit Claims	$130,416	0 %
General Creditor	$34,178	6 %
Subordinated Debt Holders	$583,375	94 %
Total Unpaid Other Claimants	$617,553	100 %

General unsecured creditors who provided goods or services prior to March 12, 2023, may file a claim against the FDIC as Receiver.

Limited, formal communication with residual SBNY shareholders (OTCPK: SBNY)

Shareholders were not protected in the initial resolution, and the Signature Bank Receivership's interest as the lone shareholder of the Signature Bridge Bank Receivership is subordinate to all proven claims against the Signature Bridge Bank Receivership.

• Shareholders will only receive distribution if sufficient proceeds remain after all proven claims against the Signature Bridge Bank Receivership are fully paid.

Managed relationship with borrowers on the retained loan assets

Loan customers were instructed to continue making loan payments as usual to Signature Bridge Bank, N.A. following the closure.

• The FDIC, as receiver, manages the liquidation of assets retained in the receivership, which included approximately $60 billion in loans as of March 2023.
• Loan payments continue to be managed under the receivership structure until final disposition of the retained assets.

Finance: review August 1, 2025 FDIC Receivership Summary for updated asset liquidation progress by end of Q4 2025.

Signature Bank (SBNY) - Canvas Business Model: Channels

You're looking at how the remnants of Signature Bank (SBNY) interact with the world now that the bank is closed. It's less about customer acquisition and more about asset disposition and legal finality. Here's the quick math on the channels the FDIC, as Receiver, uses to manage the wind-down.

FDIC's official receivership website and public filings are the primary public-facing channel for information flow. The FDIC provides the Signature Bank Receivership balance sheet summary, which reported known assets and estimated liabilities as of August 1, 2025. Furthermore, the FDIC released the public sections of informational filings that were due by October 1, 2025. These filings give stakeholders a view into the receivership's progress.

The channel for resolving creditor claims is strictly defined by regulatory deadlines and statutory priority. The Claims Bar Date for many parties was set at 07/17/2023. For residual claimants, the priority waterfall dictates the flow of funds, with subordinated debt holders showing an unpaid claim balance of $583,375, representing 94% of the Total Unpaid Other Claimants, which stood at $617,553 as of August 1, 2025.

Here are the key financial metrics related to the asset disposition channels:

Asset/Claim Category	Channel Partner/Mechanism	Value/Stake	Date/Status Reference
Commercial Real Estate (CRE) Loans	Blackstone-led JV (Hancock JV Bidco L.L.C.)	$1.2 billion for a 20% equity stake in a venture holding $16.8 billion in loans	December 2023 transaction
Rent-Regulated Apartment Loans	Santander Bank	$1.1 billion for a 20% stake in a venture holding $9 billion in loans	Final transaction reported
Other Funded Loans	Goldman Sachs and PNC Bank	$18.5 billion in more than 200 funded loans	October 2023 sale
Total Initial Retained Portfolio	FDIC Receivership	Approximately $60 billion of loans retained after initial transfer to New York Community Bancorp	Post-failure retention
Subordinated Debt Holders Unpaid Claim	FDIC Receivership Priority Waterfall	$583,375 (94% of Other Claimants)	As of August 1, 2025

Investment banks and brokers for loan portfolio sales were critical in executing the asset sales. Newmark & Company Real Estate, Inc. (Newmark) was retained as an advisor for the marketing process of the retained loan portfolio. For the $16.8 billion CRE portfolio, the Blackstone-led joint venture, which included Rialto Capital, paid $1.2 billion for a 20% equity interest. Rialto Capital will act as the loan servicer and operating partner for this venture.

Legal and regulatory channels for claims and court proceedings are managed by the FDIC as Receiver for Signature Bank, N.A., and Signature Bridge Bank, N.A.. A significant recent channel event was the court ruling in Gotlib v. Federal Deposit Ins. Corp. on August 11, 2025, where the court granted the FDIC's motion to dismiss a breach of contract claim, finding that the initial receivership transfer and subsequent joint venture transactions did not trigger a right of first refusal. Subordinated debt holders and stockholders, unlike other claimants, are not required to file a claim with the FDIC.

The residual OTCPK trading platform for the residual SBNY stock remains an active, albeit small, channel for equity holders. Signature Bank (SBNY) trades on the OTC Markets stock exchange. As of December 5, 2025, the stock price was $0.78. The market capitalization found as of December 4, 2025, was $41.77 million, which is the latest verifiable number, though the context mentions a market cap of $4.41 billion at the time of failure.

Direct communication via sub-servicers for loan management is established for the sold loan pools. For the $16.8 billion CRE portfolio, Hancock JV Bidco L.L.C. (indirectly controlled by Blackstone) is responsible for the management, servicing, and liquidation of the Venture's assets, subject to FDIC oversight. For the $9 billion rent-regulated apartment loan pool sold to Santander Bank, Santander itself will be responsible for collecting payments on those loans.

Finance: review the August 1, 2025, Receivership Balance Sheet for updated asset liquidation progress by end of Q4 2025.

Signature Bank (SBNY) - Canvas Business Model: Customer Segments

You're looking at the segments that interact with the Signature Bank receivership, which is a very different set of customers than the bank had before March 12, 2023. Honestly, these segments are mostly counterparties in the wind-down process, not active clients.

The FDIC's Deposit Insurance Fund (DIF)

The DIF is the ultimate backstop, and its health is relevant to the overall resolution environment. As of the third quarter of 2025, the Deposit Insurance Fund balance reached $150.1 billion. This represented a reserve ratio of 1.40%, up four basis points from the previous quarter. This balance increased by $4.8 billion in Q3 2025, driven primarily by assessment revenue of $3.3 billion. The fund is projected to reach the statutory minimum of 1.35% by the end of 2025. The total number of insured banks was 4,421 as of Q2 2025. The FDIC deployed 212 contract actions valued at $450 million to facilitate the resolution of Signature Bank and two other large failures.

Creditors and counterparties of the failed bank

These groups hold proven claims against the receivership estate. At the time of failure, Signature Bank had total deposits of $88.6 billion as of December 31, 2022. Of this, approximately $83.5 billion was held in accounts with balances exceeding the $250k insurance limit. The average balance in these uninsured deposit accounts was about $3 million. The FDIC transferred substantially all assets and deposits to Signature Bridge Bank, N.A., which was later sold to Flagstar Bank, N.A. The receivership balance sheet summary, as of August 1, 2025, reports known assets and estimated liabilities, where proven claims are recorded as liabilities that may receive a distribution.

• Total deposits at failure (Dec 31, 2022): $88.6 billion.
• Estimated uninsured deposits (Dec 31, 2022): Approximately $83.5 billion.
• Proven claims are recorded as liabilities on the receivership balance sheet summary as of August 1, 2025.

Residual shareholders of the former holding company (OTCPK: SBNY)

Equity holders, including common and preferred shareholders of the former holding company, are at the bottom of the statutory payment waterfall. Initially, recovery was penciled in at zero. However, the subsequent sales of retained loan portfolios have created a potential residual value. If the recovery rate on the remaining loan book exceeds 85%, there is a possibility of funds being left over for bondholders, preference shares, and ordinary shares. The stock traded as low as 0.22 cent before rallying on recovery hopes.

Institutional investors and banks acquiring loan portfolios

These entities are major counterparties in the asset disposition strategy managed by the FDIC. The initial retained loan portfolio was approximately $60 billion.

Acquirer Group/Bank	Portfolio Type/Description	Approximate Value/Bid Amount	Date of Transaction (Reported)
Goldman Sachs and PNC Bank	Funded loans (over 200 loans)	$18.5 billion (Sold)	October 2023
Blackstone-led JV (with Rialto Capital and CPPIB)	Commercial Real Estate Loans	$1.2 billion for a 20% stake in a venture holding $16.8 billion in debt	December 2023
Santander Bank	Rent-Regulated Apartment Loans	$1.1 billion for a 20% stake in a venture holding $9 billion in loans	December 2023

Following these transactions, the FDIC indicated it retained about $30 billion worth of Signature loans on its books, though the CRE portfolio was stated as sold. The FDIC received common stock potentially worth $300 million in the initial Bridge Bank transaction.

Borrowers whose loans were retained in the receivership

Borrowers whose loans were not immediately sold to Flagstar Bank, N.A., or in the subsequent portfolio sales, now deal with the FDIC as the receiver or the loan servicer appointed by the FDIC. The initial retained portfolio was comprised primarily of commercial real estate (CRE) loans, commercial loans, and a smaller pool of single-family residential loans, totaling approximately $60 billion. Santander Bank is responsible for collecting payments on the $9 billion rent-regulated apartment loan portfolio stake it purchased. Rialto Capital acts as the loan servicer and operating partner for the $16.8 billion commercial real estate debt portfolio stake acquired by the Blackstone-led venture. Loan customers were instructed to continue making payments as usual to the successor entity.

• Initial retained loan portfolio size: Approximately $60 billion.
• Rent-regulated apartment loans sold stake: $9 billion portfolio.
• Commercial real estate loans sold stake: $16.8 billion portfolio.

Signature Bank (SBNY) - Canvas Business Model: Cost Structure

The cost structure for Signature Bank (SBNY) as of late 2025 is dominated by the ongoing management and liquidation of assets retained by the Federal Deposit Insurance Corporation (FDIC) in its role as receiver.

Significant legal and administrative fees for the receivership process continue to be incurred as the FDIC works through complex asset sales and claim resolutions. While specific 2025 expense figures are not publicly itemized for this component, these costs are factored into the overall receivership expenses necessary to maximize asset recovery.

The servicing and management of the retained assets represent a major ongoing cost. The FDIC retained a substantial portion of the loan book for disposition after the initial transaction with Flagstar Bank, National Association.

Cost Component Basis	Reported/Estimated Amount
Total Loans Retained in Receivership	Approximately $60 billion
Initial Estimated Cost to FDIC Deposit Insurance Fund (DIF)	$2.5 billion
Deposits Related to Digital-Asset Business Retained	About $4 billion
Asset Discount on Initial Transfer to Flagstar Bank	Reportedly $2.7 billion
Total Estimated Cost Attributable to Uninsured Depositors (SVB & SBNY combined, as of Nov 2023)	Approximately $16.3 billion

Loan servicing and asset management costs for the retained $60 billion portfolio include expenses for property management, legal enforcement on non-performing loans, and advisory fees for the sale process. For instance, Newmark & Company Real Estate Inc. was retained as an advisor to help offload the retained loan portfolio.

Personnel costs for the FDIC's resolution team and contractors are necessary to manage the receivership, including specialized staff and external advisors engaged for asset valuation and disposition strategies. These costs are drawn from the receivership estate before any distribution to the FDIC or other claimants.

The estimated $2.5 billion cost to the FDIC's Deposit Insurance Fund (DIF) remains the benchmark figure for the loss incurred due to the systemic risk exception used in the resolution. The FDIC is recovering this loss through special assessments on large banks, with an estimated $18.9 billion total cost attributable to protecting uninsured depositors from both Signature Bank and Silicon Valley Bank as of September 30, 2024, to be collected over ten quarterly assessment periods.

Costs associated with winding down the digital asset business infrastructure are also a factor. The $4 billion in deposits related to the digital-asset business were not assumed by Flagstar Bank and remained in receivership, requiring specific administrative and wind-down procedures separate from the main commercial loan book.

• The receivership estate is subordinate to all proven claims against the Signature Bridge Bank Receivership.
• As of December 31, 2022, Signature Bank reported total assets of $110.4 billion and total deposits of $88.6 billion.
• The FDIC has borrowing authority of $100 billion from the Department of the Treasury if the DIF requires additional funding.
• The special assessment to recover DIF losses is being collected at an annual rate of 13.4 basis points under the final rule.

Signature Bank (SBNY) - Canvas Business Model: Revenue Streams

You're looking at the final stages of asset realization for the Signature Bank (SBNY) receivership, so the revenue streams aren't about new lending anymore; they are about clawing back value from the assets the FDIC took over back in March 2023.

The core of the remaining value realization centers on the disposition of assets that weren't immediately sold to Flagstar Bank. As of the initial transfer, approximately $60 billion in loans remained in the receivership for later disposition by the FDIC.

Here's a breakdown of the specific financial components driving the final returns:

• Proceeds from the sale of the retained loan portfolios.
• Interest income generated from the remaining $60 billion loan book.
• Recovery of assets to offset the FDIC's estimated $2.5 billion loss.
• Potential value from the residual equity appreciation rights held by the FDIC.
• Final distribution of residual value to the SBNY holding company.

The disposition of the loan book has seen several major transactions already. For instance, a significant portion of the Commercial Real Estate (CRE) loans was handled via a joint venture structure. In December 2023, Hancock JV Bidco L.L.C. paid $1.2 billion for a 20 percent equity interest in the entity holding $16.8 billion of those CRE loans. As part of that deal, the FDIC-Receiver also received a purchase money note in the original principal amount of approximately $6 billion.

Another major component was the sale of private equity subscription credit facilities. PNC Bank acquired a portfolio worth approximately $16.6 billion, which included $9 billion in funded loans, in October 2023. Customers Bank also purchased a $631 million loan book linked to venture capital funds in June 2023.

The initial estimated cost of failure to the Deposit Insurance Fund (DIF) was approximately $2.5 billion as of March 2023. The goal of these asset sales is to recover funds to offset that initial cost and any subsequent losses realized during liquidation. The latest available receivership balance sheet summary, dated June 30, 2025, shows Total Assets of $189,133 (in $000's), consisting mainly of Cash and Investments of $76,217 and Due from FDIC Corp and Receivables of $112,916 (all in $000's). This suggests most of the large loan book assets have been moved out of the direct receivership asset line item, likely into the receivables or realized cash accounts following sales.

The equity appreciation rights (EACs) represent another potential, albeit subordinate, revenue stream. The FDIC received EACs with a potential value of up to $300 million in New York Community Bancorp, Inc. common stock, which were exercised in March 2023.

The final distribution to the SBNY holding company is contingent on all proven claims against the receivership being paid first. If sufficient proceeds remain after paying all proven claims against the Signature Bridge Bank Receivership, the funds flow up to the Signature Bank Receivership as the sole shareholder of the Bridge Bank Receivership, which then becomes part of the final distribution pool.

Here are the key figures associated with the asset disposition process:

Asset/Stream Component	Associated Value/Amount	Status/Context (Based on latest data)
Initial Retained Loan Book	Approximately $60 billion	Original amount retained in receivership for disposition.
FDIC Estimated Cost of Failure	Approximately $2.5 billion	Estimated cost to the DIF as of March 2023.
CRE Equity Stake Sale Proceeds	$1.2 billion	Paid for a 20 percent equity interest in the CRE venture (Dec 2023).
CRE Venture Financing Note	Approximately $6 billion	Purchase money note issued to the FDIC-Receiver (Dec 2023).
Private Equity Loan Book Sale (PNC)	Approximately $16.6 billion	Acquired loan book value (Oct 2023).
FDIC Equity Appreciation Rights (EACs) Potential Value	Up to $300 million	Potential value in NYCB common stock.
Receivership Total Assets (June 30, 2025)	$189,133 thousand	Current balance of cash and receivables in the receivership.

The interest income stream would have been generated from the servicing of the retained loans before they were sold or resolved, contributing to the cash balance reported as of June 30, 2025. The ability to generate further interest income from the $60 billion book depends entirely on how much of that book remained unliquidated as of the latest reporting date. Any recovery of assets to offset the $2.5 billion loss is now realized through the proceeds of these sales.

Finance: draft final asset recovery reconciliation by end of Q3 2025.