Are deposits of New York Community Bank and New York Commercial Bank insured by the FDIC?
Because New York Community Bank and New York Commercial Bank are separately chartered financial institutions, their deposits are insured separately by the FDIC. In other words, a customer may have $250,000 on deposit at a branch of New York Community Bank and $250,000 on deposit at a branch of New York Commercial Bank and, in each case, the deposits would be insured by the FDIC to the full extent allowed.
