PNC Bank (PNC) on Tuesday took on $16.6 billion in 澳洲幸运5官方开奖结果体彩网:capital commitments, mostly loans held by Signature Bridge Bank, from the Federal Deposit Insurance Corp. (FDIC). The bridge bank was set up by federal regulators in March after the collapse of its namesake bank.

More than half, or $9 billion, of the portfolio is composed of funded loans, mostly in the form of 澳洲幸运5官方开奖结果体彩网:credit lines to 澳洲幸运5官方开奖结果体彩网:private equity (PE) firms. By taking on these credit lines, designed to help PE firms manage liquidity and fund their investments, PNC could expand its suite of o♚fferings to private equity clients.

The transaction is expected to add to PNC's earnings, equaling about 10 cents a share in the fourth quarter, and will likely have little effect on the bank's capital ratios and 澳洲幸运5官方开奖结果体彩网:book value.

澳洲幸运5官方开奖结果体彩网:Signature Bank, a now-defunct regional bank based in New York City, was one of two high-profile lenders that collapsed in March during this year's banking crisis. It was shut down by federal regulators on March 12, two days after 澳洲幸运5官方开奖结果体彩网:Silicon Valley Bank (SVB) met the same fate, sparking fears of 澳洲幸运5官方开奖结果体彩网:contagion within the regional banking sector. The same day, in an effort to safeguard depositors, the FDIC transferred most of Signature Bank's assets into a bridge bank.

Shortly before its collapse, Signature Bank ranked as the nation's 29th-biggest, with assets exceeding $110 billion. Some of its biggest clients included 澳洲幸运5官方开奖结果体彩网:cryptocurrency companies and startups.

The banking crisis hit shares of regional lenders hard, and PNC wasn't immune. Shares of the Pittsburgh-based lender were down as much as 30% by May. While there was some recovery, PNC's shares have struggled since and are still down roughly 25% year-to-date.

Correction—Dec. 13, 2023: This article has been updated to correct the name of the bridge bank in the headline.