Signature Bank (SBNY) stock is not currently trading. Learn the latest below.
Can I still buy Signature Bank stock?
Signature Bank (SBNY) stock is not currently trading. Regulators announced on Sunday, March 12, 2023 that Signature Bank had been closed to protect depositors and the bank’s assets. Fear from the sudden collapse of Silicon Valley Bank (SIVB) just days earlier on Friday, March 10, 2023 led to a similar bank run at Signature Bank that resulted in the sudden withdrawal of more than $10 billion in deposits, according to CNBC.
New York state regulators closed Signature Bank and named the Federal Deposit Insurance Corporation (FDIC) as receiver of its assets and deposits. The FDIC will operate the newly-created Signature Bridge Bank, N.A. until it can find a potential bidder.
Is Signature Bank publicly traded?
No. Signature Bank stock is not currently trading. New York state regulators closed Signature Bank and named the Federal Deposit Insurance Corporation (FDIC) as receiver of its assets and deposits.
What happens to my Signature Bank stock?
The Nasdaq Stock Market announced on Monday, March 13, 2023 that trading of Signature Bank stock will remain halted until the bank “has fully satisfied Nasdaq’s request for additional information.”
Moreover, a statement by federal regulators notes that Signature Bank shareholders will not be protected, meaning any losses to your investment may not be recoverable.
Buy stock in other banks
Even though you can’t buy Signature Bank stock on the Nasdaq, you can invest in other publicly traded banks.
Regulators announced on Sunday, March 12, 2023 that Signature Bank had been closed to protect depositors and the bank's assets. Fear from the sudden collapse of Silicon Valley Bank (SIVB) just days earlier on Friday, March 10, 2023 led to a similar bank run at Signature Bank that resulted in the sudden withdrawal of more than $10 billion in deposits.
As of March 13, 2023 when the bank was delisted, Signature Bank's stock was trading at $70.
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