FDIC Releases Report Detailing Supervision of the Former Signature Bank (release)
Document text
Research, not advice. Part of the Bitcoin research archive (October 2026). Claims labelled unverified, contested or fringe are reported, not endorsed; statuses of bills and rules are as of the date checked. Government, court and patent records are public domain; the research notes are CC BY 4.0.
FDIC Releases Report Detailing Supervision of the Former Signature Bank, New York, New York | FDIC.gov
Skip to main content
An official website of the United States government
Here’s how you know
Here’s how you know
Official websites use .gov
A .gov website belongs to an official government organization in the United States.
Secure .gov websites use HTTPS
A lock (
) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites.
Cambiar a español
Search FDIC.gov
Search
About
Toggle submenu
Toggle submenu
About
The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation’s financial system. Learn about the FDIC’s mission, leadership, history, career opportunities, and more.
Learn More About the FDIC
What We Do
Leadership
Careers
Initiatives
Workplace Culture
Strategic Plans
Financial Reports
History
Governance
Ombudsman
Doing Business with the FDIC
Resources
Toggle submenu
Toggle submenu
Resources
The FDIC provides a wealth of resources for consumers, bankers, analysts, and other stakeholders. Browse our collection of financial education materials, data tools, documentation of laws and regulations, information on important initiatives, and more.
Additional FDIC Resources
Consumer Resource Center
Banker Resource Center
Deposit Insurance
Supervision & Examinations
Laws & Regulations
Resolutions
Publications
Forms
Data Tools
Community Banking Research Program
International Seminars and Training
Analysis
Toggle submenu
Toggle submenu
Analysis
The FDIC is proud to be a pre-eminent source of U.S. banking industry research, including quarterly banking profiles, working papers, and state banking performance data. Browse our extensive research tools and reports.
More FDIC Analysis
Quarterly Banking Profile
Banking Issues in Focus
Center for Financial Research
Consumer Research
FDIC National Survey of Unbanked and Underbanked Households
Annual Risk Review
EVENT / August 25, 2026
FDIC-Insured Institutions Reported Return on Assets of 1.37 Percent and Net Inc…
REPORT / June 02, 2026
National rates and rate caps for June 2026 released.
EVENT / May 27, 2026
The banking industry reported a return on assets ratio of 1.26, an increase of …
REPORT / April 22, 2026
2026 Risk Review, an overview of funding, interest rate, and credit risks banks…
News
Toggle submenu
Toggle submenu
News
The FDIC publishes regular updates on news and activities. Keep up with FDIC announcements, read speeches and testimony on the latest banking issues, learn about policy changes for banks, and get the details on upcoming conferences and events.
Find More FDIC News
Press Releases
Financial Institution Letters
Conferences & Events
Board Matters
Natural Disasters
Media Campaigns
Speeches, Statements & Testimonies
Podcasts
Videos
Opinion Editorials
Policy Fact Sheets
PRESS RELEASE / October 05, 2026
FDIC Issues List of Banks Examined for CRA Compliance
PRESS RELEASE / September 30, 2026
FDIC Announces Conclusion of Independent Monitorship
PRESS RELEASE / September 29, 2026
Agencies Publish Resolution Plan Feedback Letters for 15 Banking Organizat…
PRESS RELEASE / September 25, 2026
Sunwest Bank Assumes All Deposits and Certain Assets of Nano Banc, Irvine,…
Search
Toggle submenu
Search FDIC.gov
Search
Advanced Search
Home
News
Press Releases
2023
FDIC Releases Report Detailing Supervision of the Former Signature Bank, New York, New York
April 28, 2023
Share on Facebook
Share on X
Follow the FDIC on LinkedIn
Share through email
Print
For Release
WASHINGTON – Today, Federal Deposit Insurance Corporation (FDIC) Chief Risk Officer Marshall Gentry released
FDIC’s Supervision of Signature Bank
, an internal review evaluating the agency’s supervision of Signature Bank, New York, New York, from 2017 until its failure in March 2023. The internal review report identifies the causes of Signature Bank’s failure and assesses the FDIC’s supervision of the bank. The review was conducted at the request of FDIC Chairman Martin J. Gruenberg.
This detailed analysis identifies clearly that “the root cause of [Signature Bank’s] failure was poor management. [Signature Bank’s] board of directors and management pursued rapid, unrestrained growth without developing and maintaining adequate risk management practices and controls appropriate for the size, complexity and risk profile of the institution. [Signature Bank’s] management did not prioritize good corporate governance practices, did not always heed FDIC examiner concerns, and was not always responsive or timely in addressing FDIC supervisory recommendations (SRs). [Signature Bank] funded its rapid growth through an overreliance on uninsured deposits without implementing fundamental liquidity risk management practices and controls.”
In regard to the FDIC’s supervision of Signature Bank, the report finds that “the FDIC conducted a number of targeted reviews and ongoing monitoring, issued Supervisory Letters and annual roll–up reports of examination (ROEs), and made a number of SRs to address supervisory concerns. In retrospect, FDIC could have escalated supervisory actions sooner, consistent with the Division of Risk Management Supervision’s (RMS) forward–looking supervision concept. Additionally, examination work products could have been timelier and communication with [Signature Bank’s] board and management could have been more effective.” The report also finds that: “The FDIC experienced resource challenges with examination staff that affected the timeliness and quality of [Signature Bank] examinations.”
“Maintaining safety and soundness requires effective challenge from the regulators and receptivity and responsiveness from the banks,” according to the report. “In the case of [Signature Bank], the bank could have been more measured in its growth, implemented appropriate risk management practices, and been more responsive to the FDIC’s supervisory concerns, and the FDIC could have been more forward–looking and forceful in its supervision.”
The internal review report recommends a number of matters for consideration or further study by the FDIC related to examination guidance, processes, and resources.
Background
Signature Bank was closed by the New York Department of Financial Services on March 12, 2023, and appointed the FDIC as receiver. The FDIC established and operated
Signature Bridge Bank, N.A.
, until March 19 when it entered into a purchase and assumption agreement with Flagstar Bank, a subsidiary of New York Community Bancorp, Inc., Westbury, New York, to
assume the deposits
and a certain assets of the bridge bank.
Attachment(s)
Chairman Gruenberg's statement on the release of FDIC’s Supervision of Signature Bank
FDIC’s Supervision of Signature Bank
Contact(s)
Media Contact
Last Updated: April 28, 2023
CONTACT THE FDIC
CONTACT US
STAY INFORMED
Enter your email address
Subscribe
Follow the FDIC on Facebook
Share on X
Follow the FDIC on Instagram
Follow the FDIC on LinkedIn
Follow the FDIC on YouTube
HOW CAN WE HELP YOU? About you
I am a ...
Bank Customer
Banker
Consumer
Small Business Owner
Analyst/Researcher/Student
Legal Professional
Bank Regulator
Press/Media
Vendor/Contractor
Legislative Staff Member
Jobseeker
Court Clerk
Prosecutor/Probation Officer
Investigator
Your request
I want to...
Policies
Help
Foia
En Español
Accessibility
Open Government
usa.gov
Contact Us
Privacy
Plain Writing
No Fear Act Data
Inspector General