Customers Bancorp Inc. purchased $631 million of loans that belonged to Signature Bank, the latest example of a financial firm snapping up at a steep discount assets associated with a failed U.S. lender, Reuters reported.The purchase from the Federal Deposit Insurance Corp. was at 85% of the portfolio’s book value, the West Reading, Pennsylvania-based bank said in a statement on Friday. The portfolio was acquired by the FDIC when it seized Signature Bank in March. Signature was one of four midsize banks that collapsed this year. The government took over three of them, and has been selling assets from the New York-based lender, as well as those once belonging to Silicon Valley Bank. In March, when First Citizens BancShares Inc. bought Silicon Valley Bank from the regulator, it acquired about $110.1 billion in SVB assets, including $72.1 billion of loans, at a discount of roughly $16.5 billion.
