loan portfolio
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The United States Office of the Comptroller of the Currency has approved Flag Star Bank to purchase the assets of the signature bank bridge bank and assume certain debts
According to reports, the United States Office of the Comptroller of the Currency has approved Flag Star Bank to purchase the assets of the signing bank Transition Bank and assume certain debts. The transaction included the purchase of a total loan portfolio of $12.9 billion by Flag Star Bank from the signing bank Transition Bank and the assumption of $34 billion in deposits. (Jin Shi) Interpretation of this information: The United States Office of the Comptroller of the Currency has approved Flag Star Bank’s purchase of the assets of Transition…