New York Community Bank (NYCB)

NYCB, more than a century old and based in Hicksville on New York’s Long Island, had become the 33rd biggest US bank by assets after almost doubling in size on the back of two quick-fire deals for Flagstar Bank and the rump of Signature Bank, which failed March 2023. In March 2024 Steven Mnuchin pulled off a $1bn deal to steady a teetering bank. Mnuchin’s firm, Liberty Strategic Capital anchored the deal by putting in $450 million.